SmartyPig
Category: Bank Deals, Misc. Deals, Savings Account Rates- fhuff- 5:46 pm/ September 15, 2010SmartyPig has a “Race Out of Debt” contest that will award one lucky winner $4,951. That’s the amount of the average American’s credit card debt, which recently reached an 8-year low. SmartyPig, a consumer finance website that helps people reach savings goals, is sponsoring the contest between Sept. 14 and Sept. 27, 2010. New and existing savings account customers can enter the contest by:
- Following the instructions to activate a new SmartyPig goal under the new category “Race Out of Debt”
- Entering a qualified checking or savings account from a credit union or bank
- Making an initial deposit of $25, which begins earning a savings rate of 1.75% annual percentage yield (APY)
On Sept. 27, SmartyPig plans to randomly choose 10 finalists who will be assigned a pig on the SmartyPig Farm. The pigs will race to decide who wins the prize. The video of the race will be posted on the SmartyPig website on Sept. 28, and the winner will be revealed. According to the SmartyPig site, the actual race will take place on a farm in eastern Iowa that has donated its pig facilities for the day.
SmartyPig is based in Des Moines, Iowa, and has a banking relationship with BBVA Compass. All deposits are insured by the Federal Deposit Insurance Corp. (FDIC).
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