Rumor in the forum has it that Emigrant Direct will be announcing a new bonus credit card offer later today that will pay rewards into your Emigrant account every 6 months. The reward level would be dependant on the amount you have in the account. We’ll see if this rumor proves true.
Emigrant Direct did launch their credit card this afternoon through Juniper Bank, but it didn’t turn out to be near as exciting as their interest rates. The card provides a 1.25% cash back (when other cards are providing as much as 5% on specific purchases) and requires a $10,000 balance. If your Emigrant Direct account falls below $10,000, your reward rate falls to 0.50%. Rather disappointing compared to what I had imagined when I first got wind of the rumor.
You can check out all the details of the card here