Money Monday: Time to Make Financial Changes?


In the same way we make career and life changes, we also make changes in our finances, and today’s Money Monday is directly from consumers about the best banks, full service broker, airline credit card rewards program and cash back credit card, based upon their experiences on customer service, most recommended and overall satisfaction.


Banks can be categorized and ranked in several areas but based upon the criteria mentioned, TD Bank is ranked as one of the best. TD bank offers several accounts but among them is a checking account which requires an average daily balance of $100 dollars to avoid monthly service fees. I don’t know about you, but that’s a very good option when someone is attempting to get started in the banking world. Most banks charge you a monthly service fee unless you maintain a high balance and have several other services attached. With TD bank, there are no strings attached.

Another good option based upon the survey is Chase. With more than 4,700 branches all over the country, the bank offers a checking account with no monthly fees if you maintain a $1,500 daily average balance and receive a monthly direct deposit of $500. While the daily monthly average may be a bit high, when it relates to customer service and overall satisfaction, this bank ranks near the top by consumers.

When it comes to internet banks, Charles Schwab Bank ranks as one of the best. The Schwab Bank Investor Checking account requires no minimum balance, provides for world wide reimbursement of ATM fees and no foreign transaction fees. The account has no monthly fees. However, you must have a Schwab account to obtain the banking benefits.

Discover Bank has a cashback Debit Checking account which is very popular. What customers rave about is its customer service. They express how responsive the bank is to their questions and concerns and the fact that a live person, who is quite knowledgeable, communicates with them.

Airline Credit Card Programs

I need not tell you that airline cards provide points and miles you can use towards your trips, be it domestic or international, vacation or business. When measured by customers in this 2023 survey by customer service, most recommended and overall satisfaction, the leader of the pack is Southwest Airline Cards. There are three levels of card ownership, each with a different annual fee but some of the rewards might be worth the cost. The rewards credit cards are issued by Chase and annual fees begins at $69 for the Plus Card, $99 for the Premier, and $149.00 for the Priority Card. The Priority Card offer two points per dollar on hotel, car rental partners, cable, telephone, internet, streaming and even local transit partners. The Priority Card also offers $75 annual credit for Southwest purchases, 7,500 bonus points on your sign up anniversary and 10,000 Companion Pass qualifying points each year. So that you know, a Companion pass will allow you to fly with one person each time you purchase or redeem points for a flight.

Delta Airlines Cards also are some of the better options for travel cards. The Skyline Blue card has no annual fees. All other cards have an attached fees, but also come with perks such as reimbursement for TSA Pre-Check or Global Entry Application fees as a benefit depending on the credit card selected.

Cash Back Credit Cards

When it comes to cash back rewards and keeping it simple, Fidelity Rewards Visa could make a lot of sense especially in the areas of customer service, most recommended and overall satisfaction. What I like about this card is that it allows you to actually begin to save for your kids college fund or 529 plan in a very convenient way. These are unintended consequences in the form of benefits to your investment portfolio. Fidelity customers earn 2% cash back on every purchase with their card if the funds are deposited into a qualifying Fidelity account. These would include, brokerage and cash management accounts such as college savings plan, retirement account, health saving accounts and donor advised accounts. What a seamless, and painless way to start placing additional funds into your investment accounts. All you have to do is continue to shop and direct your cash back- not reward points, to your investment accounts! Investing could not get any simpler in 2023.

What’s Up!

Today’s What’s Up is about the Roth IRA. If you have a child or young person under 18 years old and want to open a custodial account, the Roth IRA may be a good investment option. The money in this investment will grow tax free and contributions can be withdrawn penalty and tax free at any time. Do you need more incentive than that to start building generational investment and wealth? And that’s what’s up!

Ruthven R. Phillip, Esq., is a tax attorney, Stewardship and Philanthropy Ministry Assistant, and CEO of Give2Getrich, LLC. Give2Get Rich, LLC 2023. All Rights Reserved. Any distribution or reproduction of part or all of the contents in any form is prohibited.

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