Introducing the Frost Momentum, a type of checking account that purchases by the increase of their interest rate. The account was created by Frost Bank with over 100 branches throughout Texas. Here’s how the account works:
- If you got balance below $15,000, you get “base” interest rate of 2.76% for the first three months. The base rate will drops to 0.01% next.
- If your balance is between $15,000 and $150,000 you’ll get “base” APY of 2.80%, with no limit of time.
- For every 10 debit card purchase each month, you will get extra bonus of 0.05% points, up to maximum of 50 purchases or 0.25% of points.
- So you can boost the APY to 3.05% for accounts with at least $15,000 of balance, but to just 0.26% on accounts with balances under $15,000 after the first three months.
With the following stated rules, you can now figure out on your own what figure will you actually earn as the return. However, no fees are charged and it’s rather hard to find short term of CDs paying more than 2.80% APY, so you will be assume to maintain the balance of $15,000 in order to qualify for the interest rate.
So what are you waiting for? Swipe your card at every Taco Bell Drive-Thru and movie theater then your Frost Momentum gets even higher return.
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