American Express vs. CIT Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
American Express
High Yield Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppShow Fine Print & Trends Hide Details
American Express
High Yield Savings Account
CIT Bank
Platinum Savings
Up to3.75%APYDec 6, 2025FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppRange: 0.25% – 3.75%Show Fine Print & Trends Hide Details
CIT Bank
Platinum Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing American Express vs. CIT Bank
Why American Express?
No distinct advantages found vs CIT Bank.
Why CIT Bank?
- ✓Higher potential APY (3.65%-3.75% vs 3.40%)
- ✓Higher rated Android app (4.3 vs 3.6)
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
CIT BankCIT Bank's Platinum Savings earns more on smaller deposits (approx. $375 vs $340/yr).
Better Returns at $25,000
CIT BankCIT Bank's Platinum Savings pulls ahead with larger amounts (approx. $938 vs $850/yr).
Best for Simplicity
CIT BankCIT Bank's Savings Connect offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, CIT Bank's Platinum Savings pays $35 more interest on a $10,000 balance than American Express's High Yield Savings Account.
Executive Summary
CIT Bank offers the Platinum Savings account with a competitive APY of 3.75%, making it the standout option compared to American Express's High Yield Savings Account, which offers a lower APY of 3.40%. Both accounts are online-only and have no maintenance fees, but CIT Bank requires a minimum deposit of $100 and a minimum balance of $5,000 to earn the highest rate. For those seeking simplicity, CIT Bank's Savings Connect account provides an attractive 3.65% APY without any direct deposit requirements or balance caps. Overall, CIT Bank's offerings provide better returns, especially for larger deposits.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both American Express and CIT Bank.
| Feature | American Express | CIT Bank |
|---|---|---|
| APY | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change | 3.75% Range: 0.25% - 3.75% Verified: 12/6/2025 ↘︎ 0.25%90d Change |
| Product Name | High Yield Savings Account | Platinum Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | $5,000 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android3.6 | iOS4.8 Android4.3 |
| BBB Rating | F | A- |
| Next Steps |
Savings Comparison
CIT Bank earns $223.3 more than American Express.
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
CIT Bank
Platinum Savings
Savings Breakdown
- Interest Earned+$2,273.80(11.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,273.80
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | American Express | CIT Bank | |
|---|---|---|---|
| High Yield Savings Account | Savings Connect | Platinum Savings | |
Current APY | 3.40% | 3.65% | 3.75% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.3 | -3.3 | -5.0 |
Days Since Change | 10 | 16 | 16 |
10-Month High | 3.80% | 4.00% | 4.35% |
10-Month Low | 3.40% | 3.65% | 3.75% |
Adjustments / Mo | 0.38 | 0.28 | 0.47 |
Volatility Score | 0.030 | 0.030 | 0.041 |
How to read these metrics(Click to expand)
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