Get $100 Free by Starting to Save & My Credit Score Update

Start Saving – Get $100 Free

I was forwarded a link over the weekend that I wanted to share with everyone.  TD Ameritrade is offering a unique promotion that will give its customers a Free $100 for signing up and continually depositing money into their non-retirement savings account.  You can see the promotion details here.

The Fine Print

In essence, TD Ameritrade wants to promote the concept of savings, so if you deposit $100 a month into your account for 12 straight months, you will be given $100.  The account also has a small interest rate of .50% .  The interest rate is kind of weak, but if you are only going to deposit the minimum, you will still earn over 8% on your money for that first year.  For those that don’t mind opening an extra account to take advantage of a promotion, I say this is a worthwhile option.

My Credit Score Update

A couple of weeks ago I wrote about Liz Pulliam Weston’s discussion with Jim and JD on the Personal Finance Hour.  Since that discussion I have signed up for MyFico just to watch my credit score (with a free trial) and to see how things change.  I was shocked to see that my score was in the high 600s.  Last time I checked it was around 730 or so from one of the credit bureaus, but maybe that wasn’t my “real” score.

Having a score of  692 was a bit of a shot to my ego, but that is a decent score for someone who doesn’t have more than a few credit cards and is only 24 years old.  I also had a ding on my report for a late payment or two from before I figured out how to handle my student loans and my finances in general.

The Decrease

About two weeks ago I received an e-mail that my score had dropped by 17 points.  I was flabbergasted! The only thing that had changed was that I had built up about  $2000 in credit card bills over an extended period (I changed the billing date of my Amex and it basically meant that my bill was due 24 days later, almost a whole month!).

The Increase

Just as Liz said, my credit score will adjust itself quickly.  I paid off all of my cards in full, and sure enough my balance jumped back up 18 points to 693.  An almost 20 point swing, both positive and negative, seems quite large, I will be watching for as long as I can to learn more about credit scores and I will report my findings here.  Take a look at the chart below to see how MyFico tracks your score.

My Credit Score Tracking from MyFico

My Credit Score Tracking from MyFico

I am debating about buying the MyFico service to watch my score and report.  I probably don’t need it, but it would provide some interesting perspective over the course of a year.  Has anyone else used these services for an extended period and has anyone seen such large fluctuation within one month?

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Trackback URL http://mynextbuck.com/get-100-free-by-starting-to-save-my-credit-score-update/trackback/

Get $100 Free by Starting to Save & My Credit Score Update

Start Saving – Get $100 Free

I was forwarded a link over the weekend that I wanted to share with everyone.  TD Ameritrade is offering a unique promotion that will give its customers a Free $100 for signing up and continually depositing money into their non-retirement savings account.  You can see the promotion details here.

The Fine Print

In essence, TD Ameritrade wants to promote the concept of savings, so if you deposit $100 a month into your account for 12 straight months, you will be given $100.  The account also has a small interest rate of .50% .  The interest rate is kind of weak, but if you are only going to deposit the minimum, you will still earn over 8% on your money for that first year.  For those that don’t mind opening an extra account to take advantage of a promotion, I say this is a worthwhile option.

My Credit Score Update

A couple of weeks ago I wrote about Liz Pulliam Weston’s discussion with Jim and JD on the Personal Finance Hour.  Since that discussion I have signed up for MyFico just to watch my credit score (with a free trial) and to see how things change.  I was shocked to see that my score was in the high 600s.  Last time I checked it was around 730 or so from one of the credit bureaus, but maybe that wasn’t my “real” score.

Having a score of  692 was a bit of a shot to my ego, but that is a decent score for someone who doesn’t have more than a few credit cards and is only 24 years old.  I also had a ding on my report for a late payment or two from before I figured out how to handle my student loans and my finances in general.

The Decrease

About two weeks ago I received an e-mail that my score had dropped by 17 points.  I was flabbergasted! The only thing that had changed was that I had built up about  $2000 in credit card bills over an extended period (I changed the billing date of my Amex and it basically meant that my bill was due 24 days later, almost a whole month!).

The Increase

Just as Liz said, my credit score will adjust itself quickly.  I paid off all of my cards in full, and sure enough my balance jumped back up 18 points to 693.  An almost 20 point swing, both positive and negative, seems quite large, I will be watching for as long as I can to learn more about credit scores and I will report my findings here.  Take a look at the chart below to see how MyFico tracks your score.

My Credit Score Tracking from MyFico

My Credit Score Tracking from MyFico

I am debating about buying the MyFico service to watch my score and report.  I probably don’t need it, but it would provide some interesting perspective over the course of a year.  Has anyone else used these services for an extended period and has anyone seen such large fluctuation within one month?

3,512 Responses to Get $100 Free by Starting to Save & My Credit Score Update
  1. La Manga Club Property
    October 19, 2018 | 8:30 am

    Wow, great article.Thanks Again. Really Great.

  2. John Deere Diagnostic and Test Manuals
    October 19, 2018 | 10:45 am

    Thanks for the great post on your blog, it really gives me an insight on this topic.~`;-:

  3. Power Efficiency Guide Reviews
    October 19, 2018 | 12:05 pm

    It as enormous that you are getting thoughts from this post as well as from our argument made at this time.

  4. Easy Cellar
    October 19, 2018 | 1:50 pm

    Thanks again for the article.Really looking forward to read more. Fantastic.

  5. เสื้อผ้าคนอ้วน
    October 19, 2018 | 3:34 pm

    to be precisely what I am looking for. Would

  6. The Woman Men Adore
    October 19, 2018 | 5:18 pm

    It as best to take part in a contest for top-of-the-line blogs on the web. I all suggest this website!

  7. Irwin Roylance
    October 19, 2018 | 9:15 pm

    Simply desire to say your article is as astonishing. The clarity in your post is simply excellent and i could assume you are an expert on this subject. Well with your permission let me to grab your RSS feed to keep updated with forthcoming post. Thanks a million and please continue the gratifying work.

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    October 20, 2018 | 2:46 am

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  9. tricko calvin klein
    October 20, 2018 | 4:52 am

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  10. Donn Prairie
    October 20, 2018 | 5:12 am

    The next time I learn a weblog, I hope that it doesnt disappoint me as much as this one. I imply, I know it was my choice to read, but I really thought youd have one thing attention-grabbing to say. All I hear is a bunch of whining about one thing that you would fix in the event you werent too busy looking for attention.

  11. Auto Insurance Vancouver
    October 20, 2018 | 7:41 am

    Thanks for the blog.Thanks Again. Will read on…

  12. word art
    October 20, 2018 | 1:44 pm

    check below, are some absolutely unrelated sites to ours, having said that, they’re most trustworthy sources that we use

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