Posted by William Charles on April 15, 2018
Bank Account Bonuses

Published on April 15th, 2018 | by William Charles

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[FL only] VyStar Credit Union Up To $1,000 CD Bonus

Offer at a glance

  • Interest Rate: Varies
  • Minimum Balance: Varies
  • Maximum Balance: Varies
  • Availability: FL only
  • Direct deposit required: No
  • Additional requirements: See below
  • Hard/soft pull: Unknown
  • ChexSystems: Unknown
  • Credit card funding: Unknown
  • Monthly fees: None
  • Insured: NCUA

The Offer

Direct link to offer

  • VySar Credit Union is offering a bonus of up to $1,000 when you open a new CD. The bonus table is as follows:

The Fine Print

  • In order to receive the bonus amount, CD must be funded with funds from a financial institution other than VyStar Credit Union.
  • Bonus will be credited on the next business day after CD is opened and funded.
  • Early withdrawal penalty applies and bonus amount will be deducted from CD if closed prior to maturity date.
  • Fee incurred could reduce earnings.
  • Limited-time offer.
  • All new accounts are subject to approval.
  • Programs, services, rates, terms and conditions are subject to change at any time without notice. ©2018 VyStar Credit Uni
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

These CDs have no fee to worry about. If the CD is closed before maturity you will lose the bonus and also be subject to early withdrawal penalties.

Our Verdict

You can view the rates they are offering here. This is a bad deal, let’s take a specific look to show why. If you put $5,000 into a 12 month CD you’d get a $10 bonus and earn 1.15% APY, other CDs are offering 2.1% APY.

  • Total earned with VyStar Credit Union: $10 bonus + $57.5 interest earned ($67.5 total)
  • Total earned with 2.1% APY CD: $105 total

It doesn’t get any better as you move tiers either. For a list of high interest accounts, click here. For a list of savings bonuses we do recommend click here.

Hat tip to reader JuicyJosh

 



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Vystar customer
Vystar customer

The title is missing a “t”. It is Vystar.

I can make more than $1000 from checking account bonuses over 5 years than tying up $100,000.

Best 100k 5yr cd rate?
2.62%
+
$1000 (1%)

Rate for 100k cd is 3.62%.
Best in a country. I think.

Even for 10k 5yr cd you get effective rate of 3.52%.

It seems to offer the best effective rates(by big margin) on some 4 and 5 yr cds in the country.
So looks like a great deal looking at it purely as a cd…

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