I have a very small CD holding at ING Direct. I’m slightly cheesed off that it renewed about a week before they raised their CD rates. It’s a small thing to be annoyed about. I mean, the interest lost is probably only a dollar over the term of the CD, but every penny counts when it comes to compounding interest!
BTW, if you missed it on Monday, I posted some ING Direct referral links. Despite the rate change after my renewal, I’ve been really happy with them. No glitches or problems while transferring money between them and my brick and mortar accounts. My friends have all received their checks in the mail in a timely fashion. None of my creditors have freaked out over a lost or late payment from their system. A lot of other PF bloggers can tell you that ING Direct doesn’t have the highest rate, but you’ll also read how other online banks have crazy account opening procedures that break in the middle of signing up, etc.
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You have 10 days after they renew the CD to cancel the CD and effectively open a new CD at the higher rate. Call them asap