December 21, 2011
SmartyPig No More!
For a long time I have been singing SmartyPig's praises because of their adorable website, user-friendly-ness, and best of all, high interest rates. For a while it was over 2%! A few months ago, they lowered their rate to about 1.7%. Then, 1.1%. I was still a loyal SmartyPigger. Now, they just decreased their rate to 0.7%! Can you believe that? They're not even competitive anymore. As soon as I was able to, I closed my goal and sent the money back to my checking account.
Here is a link to the blog post that SP posted about their interest rate decrease: http://blog.smartypig.com/read/announcing-a-change-in-apy/
If you are/were a SmartyPig customer, feel free to comment with your opinions.