[Jo]

Had a Lending Club CD at 5.5%. It renewed on August 15 without notification and renewed at 4.6%. I called in as soon as I checked my balances on September 1, when I do my monthly update on my spreadsheets to cancel my CD could not get in touch with anybody until September 5 and they told me it was a three month penalty to cancel the CD.

Just letting you know if you’re gonna fire don’t just renew your CD.

I was not given any notification whatsoever that it was renewing.

Pretty mad about it, texted, emailed took me days to even talk to me about this CD.

[Brandy]

My bro-in-law just had a close to 5% CD renew for .16%. So ludicrous. They say they sent notices, but he never got them.

We couldn’t figure out why it would renew so low in this environment.

It’s through a credit union in a predominately retiree area of FL, so the only thing we could come up with is it’s a predatory practice preying on the elderly.

[Joe]

You made the choice to auto renew the CD when you purchased it.
Who are you mad at exactly?

[Michael]

To be fair, you should have known the maturity date when you opened the CD.

[Carrie]

I add reminders in my calendar to cash out during the 10 days period.

[Aaron]

Every CD I’ve ever bought gave the renewal date when I opened it I’m guessing yours did as well.

[Bill]

I put my CD Maturity dates in my calendar as I ladder 3 of them all in a different institution. I receive maturity notices for each of them in advance.

Most all of the disclaimers t

This is on you for not keeping a tab on it.

[Mark]

What is the term of the renewal? (same as original CD?) That is total BS! I don’t have CDs, but Schwab sends me a snail mail letter 1 or 2 weeks in advance of every Tbill maturity.

[David]

Less educated individual, here: What is the benefit of locking money into a 5% CD rather than just keeping it in a more fluid account that also yields 5%?

[Tom]

Does the institution advertise this as their current rate or is it a special rate for current customers that show no logins to the account?

[Arleen]

With Capital360, there is a special screen that you have to complete. Do you want to renew CD at maturity or deposit money into your savings.

The default is auto-renew.

It allows you the entire term of the CD to change the answer.

[Mark]

U won’t “fire” concentrating ur money in cds. All ur doing is locking money up in a glorified savings account ensuring it will not beat inflation.

and u shouldn’t have enough money where it actually moves the needle in A cd if a 1% decrease crushes u

[Kerry]

You can typically specify when opening a CD whether you want it to renew or cash out at maturity.

That’s the lesson…

[Author]

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