American Express vs Cit Bank
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of American Express vs. CIT Bank

As of June 20, 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 competitive APY of 3.60%.
  • No maintenance fees or minimum balance requirements.
  • High App Store rating of 4.9.

Potential Drawbacks

  • American Express has an F BBB rating and is not accredited.
  • Only one savings account available.
  • 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 has an A- BBB rating, indicating better trustworthiness.
  • Google Play rating is higher at 4.6.

Potential Drawbacks

  • CIT Bank's Platinum Savings requires a minimum balance of $5,000.
  • APY decreased from 4.10% in the last 30 days.
  • Only the Platinum Savings and Savings Connect accounts available.
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 $5,000 minimum balance. American Express has a higher App Store rating of 4.9 but an F BBB rating, while CIT Bank holds an A- rating. Both banks have no maintenance fees, but CIT Bank's APY has recently decreased.

Compare American Express' vs CIT Bank's Savings Accounts

American ExpressCIT Bank
ProductHigh Yield Savings AccountvsPlatinum SavingsSavings Connect
APY
3.60% (as of 6/20/2025)0.25% - 4.00% (as of 6/20/2025)3.90% (as of 6/20/2025)
Bundled Account
NoNoNo
FDIC-insured
YesYesYes
Online OnlyYesYesYes
Compound Frequency
DailyDailyDaily
Minimum Deposit$0$100$100
Minimum Balance for APY$0$5,000$0
Maintenance Fee$0$0$0
Direct Deposit Required
NoNoNo
Visit BankHigh Yield Savings AccountPlatinum SavingsSavings Connect
App Store Rating4.9/54.8/5
Google Play Rating3.8/54.6/5
BBB RatingFA-

Comparative Historical APY Insights (Last 5 Months)

American ExpressCIT Bank
ProductHigh Yield Savings AccountvsSavings ConnectPlatinum Savings
Latest APY3.60 %3.90 %4.00 %
TrendSidewaysSidewaysFalling
Slope (bps/mo)-4.4-0.7-6.9
Rate Changes / Mo0.400.200.60
Days Since Last Change451010
High (-5 m)3.80 %4.00 %4.35 %
Low (-5 m)3.60 %3.90 %4.00 %
Draw-down from High-5.3 %-2.5 %-8.0 %
Volatility (CV)0.0190.0060.027
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 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 (-5 m)
Highest APY in the last 151 days.
Low (-5 m)
Lowest APY in the last 151 days.
Draw-down from High
How far today sits below the 5-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