What is the best bank/online broker/credit card for first year analyst/associate in NYC?
First starter credit card?
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If you are referring to credit card purely, I am not sure I can help you without additional information about your credit history. Capital One is easiest to get a credit card, but certainly not the best option.
In terms of bank, I love Chase bank. There are tons of Chase banks in the city and Duane Reeds, which has the Chase ATM. Can't travel two blocks without running into one so it is super convenient. You can use Chase as actual bank and build savings there or just deposit at least $500 a month and use it as a cash source (meaning deposit rest of paycheck in current bank account)
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For checking - Schwab Investor Checking can't be beat. You can use any ATM in the world and they'll refund any fee you're charged. Yes, that even includes the $20 fees in strip clubs or casinos (I uh, heard from a friend). Not to mention it's interest bearing - doesn't matter much now since it's something like 0.5%, but it used to be 4-5% which was awesome.
For brokerage, I use TradeKing.com - $4.95 trades, fairly barebones. But it's cheap, fast, and gets the job done - I do my own research anyway.
Credit Card: CitiForward. No annual fee and 5x points on Restaurants / Books (includes Amazon.com) / Movies.
Online Broker: Fidelity. I've had them since I was a 1st year analyst. But you should check your bank's list of approved brokers. Some places allow outside online brokers such as Schwab and Fidelity. I know GS and Citi force you to use their own brokerages.
Banking: Any of the big banks will be fine. Just try to coorindate your banks with your cards, so you don't have to keep track of a dozen different websites.
@ Bearearns I don't have a credit score. My credit history has a small school loan that was paid of in full.
I need to get a credit card.
I would definitely recommend Tradeking as an online broker. They charge less than $5 per trade, and their margin rates are reasonable. Also, optionshouse is decent.
I would definitely recommend Tradeking as an online broker. They charge less than $5 per trade, and their margin rates are reasonable. Also, optionshouse is decent.
Depends on what kind of CC you want
Chase Sapphire Preferred - Travel/Dining Citi Double Cash Card - Cash Back Marriott or SPG rewards - Hotel AmEx Everyday Preferred - Overall
I have Sapphire and the AmEx platinum, which I would recommend if you can get the 100k miles signup bonus, if not the annual fee is too high to make up for it.
Check out Robinhood (iOS/Andriod app) , you can trade US listed equities commission free
If you have to get accounts approved by your compliance department (which you probably do), then good luck getting Robinhood approved. Most will tell you Fidelity/Schwab/ML/MS and probably some others.
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