American Express vs Cit Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of American Express vs. CIT Bank

As of July 15, 2025 American Express offers an APY of 3.60% for its High Yield Savings Account account, compared to CIT Bank's 4.00% APY for its Platinum Savings account.

CIT Bank yields $40 more than American Express on a $10,000 balance after one year. American Express pays $360, while CIT Bank pays $400 - an APY advantage for CIT Bank.

In addition, CIT Bank also offers 3.90% APY for the Savings Connect account.

American Express

Strengths

  • American Express offers a High Yield Savings Account with a competitive APY of 3.60%.
  • No minimum deposit or balance requirements for the High Yield Savings Account.
  • American Express has a high App Store rating of 4.9.

Potential Drawbacks

  • American Express has a BBB rating of F and is not BBB Accredited.
  • No branches available for in-person banking.
  • American Express's Google Play rating is lower at 3.8.

CIT Bank

Strengths

  • CIT Bank's Platinum Savings offers a higher APY of 4.00%.
  • CIT Bank's Google Play rating is 4.6, higher than American Express.
  • CIT Bank has a BBB rating of A-, indicating better trustworthiness.

Potential Drawbacks

  • CIT Bank requires a minimum deposit of $100 and a minimum balance of $5,000 for Platinum Savings.
  • CIT Bank has no physical branches for in-person banking.
  • American Express's High Yield Savings Account has a consistent APY of 3.60%.
Summary: CIT Bank offers a higher APY of 4.00% for its Platinum Savings account compared to American Express's 3.60%. However, CIT Bank requires a minimum deposit and balance, while American Express has none. American Express has a better App Store rating of 4.9, but a lower Google Play rating of 3.8 compared to CIT Bank's 4.6. Additionally, CIT Bank has a superior BBB rating of A- compared to American Express's F.

Compare American Express' vs CIT Bank's Savings Accounts

American ExpressCIT Bank
ProductHigh Yield Savings AccountvsSavings ConnectPlatinum Savings
APY
3.60% (as of 7/15/2025)3.90% (as of 7/15/2025)0.25% - 4.00% (as of 7/15/2025)
Bundled Account
NoNoNo
FDIC-insured
YesYesYes
Online OnlyYesYesYes
Compound Frequency
DailyDailyDaily
Minimum Deposit$0$100$100
Minimum Balance for APY$0$0$5,000
Maintenance Fee$0$0$0
Direct Deposit Required
NoNoNo
Visit BankHigh Yield Savings AccountSavings ConnectPlatinum Savings
App Store Rating4.9/54.8/5
Google Play Rating3.8/54.6/5
BBB RatingFA-

Comparative Historical APY Insights (Last 6 Months)

American ExpressCIT Bank
ProductHigh Yield Savings AccountvsSavings ConnectPlatinum Savings
Latest APY3.60 %3.90 %4.00 %
TrendSidewaysSidewaysFalling
Slope (bps/mo)-3.9-1.5-6.6
Rate Changes / Mo0.340.170.51
Days Since Last Change693434
High (-6 m)3.80 %4.00 %4.35 %
Low (-6 m)3.60 %3.90 %4.00 %
Draw-down from High-5.3 %-2.5 %-8.0 %
Volatility (CV)0.0190.0100.029
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-6 m)
Highest APY in the last 175 days.
Low (-6 m)
Lowest APY in the last 175 days.
Draw-down from High
How far today sits below the 6-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Calculate Savings Growth for American Express vs CIT Bank

All calculations are based on APY.

American Express

APY: 3.60%

Total savings breakdown:

  • Interest earned: $36 (3.47%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.53%)

Your total balance

$1,036.00

Effective APY: 3.60% (based on your deposit and contributions)

Total balance: $1,036

Earnings: $36

Bank Details

CIT Bank

APY: 4.00%

Total savings breakdown:

  • Interest earned: $40 (3.85%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.15%)

Your total balance

$1,040.00

Effective APY: 4.00% (based on your deposit and contributions)

Total balance: $1,040

Earnings: $40

Bank Details

After 1 year American Express would earn you $4 less than CIT Bank.

More Comparisons

Compare American Express' APY of 3.60% with other banks
Compare CIT Bank's APY of 4.00% with other banks