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Featured · Industry analysis
The Fed's July 29, 2026 decision to hold rates left the national average savings rate exactly where it was. A look at why that gap between average and top savings accounts doesn't track Fed announcements the way most people assume.
· 8 min read
Read analysis →Industry analysis
Revolut has built a profitable financial business and wants to become a technology platform. X has a technology platform and wants to build a financial business. The distinction matters more than their shared ambition.
Editorial essay
FDIC insurance covers eligible deposits after an insured bank fails. It does not by itself solve nonbank app failures or withdrawal interruptions.
Editorial essay
Evaluate stock-lending income using actual loan days, your rate, taxes, voting rights and collateral terms rather than a headline annualized rate.
Editorial essay
Compare installment fees and payment options. Chase’s interest-saving balance can preserve a plan while avoiding interest on new statement purchases.
Proprietary indices and external benchmarks are identified separately. Follow each source, observation period, and methodology before using a figure.
Recomputed monthly from live rate data. Each links to its public dataset.
$988/yr
The average U.S. saver forgoes about $988 a year by holding cash at the 0.38% national average instead of the 4.33% best-available rate, on a $25,000 balance.
Source: SwitchWize Bank Gap Index · November 2026
Cite as: SwitchWize, “The average U.S. saver forgoes about $988 a year by holding cash at the 0.38% national average instead of the 4.33% best-available rate, on a $25,000 balance.” Retrieved November 2026.
$7,850
The typical U.S. household holds about $7,850 across checking, savings, and money market accounts combined, ranging up to $111,600 in the top income bracket — a direct recomputation of the Fed's own 2022 Survey of Consumer Finances microdata, with SwitchWize's live rate gap applied to each bracket's real balance.
Source: SwitchWize analysis of Federal Reserve SCF microdata · November 2026
Cite as: SwitchWize, “The typical U.S. household holds about $7,850 across checking, savings, and money market accounts combined, ranging up to $111,600 in the top income bracket — a direct recomputation of the Fed's own 2022 Survey of Consumer Finances microdata, with SwitchWize's live rate gap applied to each bracket's real balance.” Retrieved November 2026.
1.76%
The FDIC's own national-average 1-year CD rate is 1.76%, against a top tracked rate of 4.70% -- and the national average peaks at 1 year before declining for longer terms, not rising the way a simple "longer term, higher rate" assumption predicts.
Source: SwitchWize analysis of FDIC National Rate CD series (FRED) and tracked institution data · November 2026
Cite as: SwitchWize, “The FDIC's own national-average 1-year CD rate is 1.76%, against a top tracked rate of 4.70% -- and the national average peaks at 1 year before declining for longer terms, not rising the way a simple "longer term, higher rate" assumption predicts.” Retrieved November 2026.
126 HYSA banks
SwitchWize tracks live rates from 126 HYSA, 82 CD, 40 checking, 50 money market institutions across deposit categories (298 category-institution pairs total, live-counted from the rate database, not a stale point-in-time figure).
Source: SwitchWize rate_observations database · November 2026
Cite as: SwitchWize, “SwitchWize tracks live rates from 126 HYSA, 82 CD, 40 checking, 50 money market institutions across deposit categories (298 category-institution pairs total, live-counted from the rate database, not a stale point-in-time figure).” Retrieved November 2026.
$725/yr
The best CDs pay 4.70% versus a 1.80% national average — a 2.90-point gap worth about $725 a year on a $25,000 balance.
Source: SwitchWize 12-Month CD Gap Index · November 2026
Cite as: SwitchWize, “The best CDs pay 4.70% versus a 1.80% national average — a 2.90-point gap worth about $725 a year on a $25,000 balance.” Retrieved November 2026.
$849/yr
The best money market accounts pay 4.04% versus a 0.64% national average — a 3.40-point gap worth about $849 a year on a $25,000 balance.
Source: SwitchWize Money Market Gap Index · November 2026
Cite as: SwitchWize, “The best money market accounts pay 4.04% versus a 0.64% national average — a 3.40-point gap worth about $849 a year on a $25,000 balance.” Retrieved November 2026.
$538/yr
The best checking accounts pay 2.25% versus a 0.10% cohort median — a 2.15-point gap worth about $538 a year on a $25,000 balance.
Source: SwitchWize Checking Account Gap Index · November 2026
Cite as: SwitchWize, “The best checking accounts pay 2.25% versus a 0.10% cohort median — a 2.15-point gap worth about $538 a year on a $25,000 balance.” Retrieved November 2026.
$988/yr
The best high-yield savings accounts pay 4.33% versus a 0.38% national average — a 3.95-point gap worth about $988 a year on a $25,000 balance.
Source: SwitchWize High-Yield Savings Gap Index · November 2026
Cite as: SwitchWize, “The best high-yield savings accounts pay 4.33% versus a 0.38% national average — a 3.95-point gap worth about $988 a year on a $25,000 balance.” Retrieved November 2026.
$518/yr
The best credit cards pay 12.00% versus a 22.36% national average — a 10.36-point gap worth about $518 a year on a $25,000 balance.
Source: SwitchWize Credit Card Balance Carrier Cost Index · Q2 2026
Cite as: SwitchWize, “The best credit cards pay 12.00% versus a 22.36% national average — a 10.36-point gap worth about $518 a year on a $25,000 balance.” Retrieved Q2 2026.
Population-level figures sourced to public data, reviewed quarterly.
$300+/yr
The average U.S. cardholder leaves about $300 in credit card rewards on the table each year by not matching their card to their spending.
Source: Industry estimates (Bankrate, issuer disclosures) · Q2 2026
Cite as: SwitchWize, “The average U.S. cardholder leaves about $300 in credit card rewards on the table each year by not matching their card to their spending.” Retrieved Q2 2026.
$6,000
The typical U.S. household carries roughly $6,000 in revolving credit card debt.
Source: Federal Reserve / CFPB · Q1 2026
Cite as: SwitchWize, “The typical U.S. household carries roughly $6,000 in revolving credit card debt.” Retrieved Q1 2026.
20%+
Revolving credit card debt typically carries an APR of 20% or higher.
Source: CFPB · Q1 2026
Cite as: SwitchWize, “Revolving credit card debt typically carries an APR of 20% or higher.” Retrieved Q1 2026.
~$300B/yr
Americans forgo roughly $300 billion a year in interest by holding about $10 trillion in savings and checkable deposits at the national average instead of widely available high-yield accounts.
Source: SwitchWize analysis of FDIC and Federal Reserve data · August 2026
Cite as: SwitchWize, “Americans forgo roughly $300 billion a year in interest by holding about $10 trillion in savings and checkable deposits at the national average instead of widely available high-yield accounts.” Retrieved August 2026.
43%
About 71% of Americans check their credit score several times a year, while 43% cannot name the interest rate on their own savings account.
Source: SwitchWize analysis of consumer credit-monitoring and savings-awareness surveys · August 2026
Cite as: SwitchWize, “About 71% of Americans check their credit score several times a year, while 43% cannot name the interest rate on their own savings account.” Retrieved August 2026.
~$160/mo
U.S. households underestimate their subscription spending by about $160 a month, self-reporting roughly $111 against measured spending near $273.
Source: SwitchWize analysis of CNET and Self Financial survey data · August 2026
Cite as: SwitchWize, “U.S. households underestimate their subscription spending by about $160 a month, self-reporting roughly $111 against measured spending near $273.” Retrieved August 2026.
~$250B/yr
Americans pay an estimated $250 billion or more a year in credit card interest and fees on roughly $1.3 trillion of revolving debt at an average rate near 21.5%, borne mostly by the fewer than half of cardholders who carry a balance.
Source: SwitchWize analysis of Federal Reserve G.19 and WalletHub data · August 2026
Cite as: SwitchWize, “Americans pay an estimated $250 billion or more a year in credit card interest and fees on roughly $1.3 trillion of revolving debt at an average rate near 21.5%, borne mostly by the fewer than half of cardholders who carry a balance.” Retrieved August 2026.
~$500 median
Nearly one in three Americans has no emergency savings at all, the median balance is about $500, and close to 40% could not cover a $400 surprise expense from savings, against the three-to-six-month cushion the standard advice recommends.
Source: SwitchWize analysis of U.S. News, Empower, and Federal Reserve data · August 2026
Cite as: SwitchWize, “Nearly one in three Americans has no emergency savings at all, the median balance is about $500, and close to 40% could not cover a $400 surprise expense from savings, against the three-to-six-month cushion the standard advice recommends.” Retrieved August 2026.
$75 vs $15 to borrow $500
It is expensive to be poor: borrowing $500 costs about $15 at a credit union but roughly $75, and often over $175 after renewals, at a payday lender near 400% APR, and weak credit adds about $1,600 a year to car insurance for identical driving.
Source: SwitchWize analysis of CFPB, FDIC, and industry data · August 2026
Cite as: SwitchWize, “It is expensive to be poor: borrowing $500 costs about $15 at a credit union but roughly $75, and often over $175 after renewals, at a payday lender near 400% APR, and weak credit adds about $1,600 a year to car insurance for identical driving.” Retrieved August 2026.
~$12B/yr
Americans pay roughly $12 billion a year in overdraft and NSF fees at an average of about $27 a hit, after Congress in 2025 repealed a rule that would have capped most overdraft fees at $5.
Source: SwitchWize analysis of CFPB and Congressional data · August 2026
Cite as: SwitchWize, “Americans pay roughly $12 billion a year in overdraft and NSF fees at an average of about $27 a hit, after Congress in 2025 repealed a rule that would have capped most overdraft fees at $5.” Retrieved August 2026.
~$500B true burden
About 41% of US adults carry medical debt; roughly $220 billion sits on credit reports, but the true burden may reach about $500 billion once amounts shifted onto credit cards, loans, and family borrowing are counted.
Source: SwitchWize analysis of KFF and Peterson-KFF data · August 2026
Cite as: SwitchWize, “About 41% of US adults carry medical debt; roughly $220 billion sits on credit reports, but the true burden may reach about $500 billion once amounts shifted onto credit cards, loans, and family borrowing are counted.” Retrieved August 2026.
$48,672 at ages 50-61
Americans owe about $1.86 trillion in student loans, and the average federal balance is highest not for the young but for borrowers aged 50 to 61, at about $48,672, versus $13,569 for those 24 and under, as a record 9.5 million borrowers sit in default.
Source: SwitchWize analysis of Dept. of Education and Education Data Initiative data · August 2026
Cite as: SwitchWize, “Americans owe about $1.86 trillion in student loans, and the average federal balance is highest not for the young but for borrowers aged 50 to 61, at about $48,672, versus $13,569 for those 24 and under, as a record 9.5 million borrowers sit in default.” Retrieved August 2026.
~$460k / 40 yrs
On $100,000 invested for 40 years at a 7% return, a 1% annual fee tier leaves about $1.01 million versus $1.47 million at a near-zero-fee index fund, a gap near $460,000, yet 21% of investors believe they pay no fees at all.
Source: SwitchWize analysis of FINRA, ICI, and SEC data · August 2026
Cite as: SwitchWize, “On $100,000 invested for 40 years at a 7% return, a 1% annual fee tier leaves about $1.01 million versus $1.47 million at a near-zero-fee index fund, a gap near $460,000, yet 21% of investors believe they pay no fees at all.” Retrieved August 2026.
30.9% underwater
Americans owe about $1.69 trillion on their cars, and a record 30.9% of trade-ins are underwater, owing more than the vehicle is worth by an average of $7,183, as 84-month loans let the debt outlast the car’s value.
Source: SwitchWize analysis of New York Fed and Edmunds data · August 2026
Cite as: SwitchWize, “Americans owe about $1.69 trillion on their cars, and a record 30.9% of trade-ins are underwater, owing more than the vehicle is worth by an average of $7,183, as 84-month loans let the debt outlast the car’s value.” Retrieved August 2026.
$44,115 median
The average U.S. 401(k) balance hit a record $167,970 in 2026, but the median was just $44,115, about a quarter of the average, because a minority of large balances lifts the average above what a typical worker holds.
Source: SwitchWize analysis of Vanguard How America Saves 2026 data · August 2026
Cite as: SwitchWize, “The average U.S. 401(k) balance hit a record $167,970 in 2026, but the median was just $44,115, about a quarter of the average, because a minority of large balances lifts the average above what a typical worker holds.” Retrieved August 2026.
0% vs 13% failure rate
A fixed-rate retirement calculator (the method used by NerdWallet and SmartAsset) shows a 55-year-old catching up on savings as 100% safe. Testing the identical plan against every real 30-year period of U.S. market history since 1928 found it would have actually failed 9 times out of 69, a 13% real historical failure rate the fixed-rate method shows as zero.
Source: SwitchWize retirement simulation engine benchmark · August 2026
Cite as: SwitchWize, “A fixed-rate retirement calculator (the method used by NerdWallet and SmartAsset) shows a 55-year-old catching up on savings as 100% safe.” Retrieved August 2026.
~$500/yr
Homeowners insurance premiums rose about 46% from 2021 through 2025, nearly triple overall inflation, yet re-shopping carriers and pulling fresh wind-mitigation credits commonly saves 10-25%, or about $500 a year on an average policy.
Source: SwitchWize analysis of Insurance Information Institute and NAIC data · August 2026
Cite as: SwitchWize, “Homeowners insurance premiums rose about 46% from 2021 through 2025, nearly triple overall inflation, yet re-shopping carriers and pulling fresh wind-mitigation credits commonly saves 10-25%, or about $500 a year on an average policy.” Retrieved August 2026.
$64,100-$91,300
By the 50/30/20 rule, a single adult with no dependents needs about $64,100/year in South Dakota versus $91,300/year in California to live comfortably, a gap driven by real state cost-of-living and tax differences.
Source: SwitchWize analysis of BLS Consumer Expenditure Survey, BEA Regional Price Parities, and 2026 tax brackets · August 2026
Cite as: SwitchWize, “By the 50/30/20 rule, a single adult with no dependents needs about $64,100/year in South Dakota versus $91,300/year in California to live comfortably, a gap driven by real state cost-of-living and tax differences.” Retrieved August 2026.
~$33B/yr
A 2025 NBER paper (Egan, Hortacsu, Kaplan, Sunderam & Yao) finds banks earn a 36 basis-point annual markup purely from depositor inattention, worth an estimated $33 billion a year applied to live Federal Reserve household deposit data, and accounting for about 58% of the average bank deposit franchise value.
Source: SwitchWize analysis of NBER Working Paper 34267 and FRED TSDABSHNO · September 2026
Cite as: SwitchWize, “A 2025 NBER paper (Egan, Hortacsu, Kaplan, Sunderam & Yao) finds banks earn a 36 basis-point annual markup purely from depositor inattention, worth an estimated $33 billion a year applied to live Federal Reserve household deposit data, and accounting for about 58% of the average bank deposit franchise value.” Retrieved September 2026.
9.75-12.50 pts
In the CFPB July-December 2025 TCCP survey, median purchase APRs from Top-25 issuers exceeded smaller-issuer medians by 9.75 to 12.50 percentage points across reported credit tiers, worth about $488-$625 a year on a $5,000 balance.
Source: SwitchWize analysis of CFPB Terms of Credit Card Plans survey data · December 2025
Cite as: SwitchWize, “In the CFPB July-December 2025 TCCP survey, median purchase APRs from Top-25 issuers exceeded smaller-issuer medians by 9.75 to 12.50 percentage points across reported credit tiers, worth about $488-$625 a year on a $5,000 balance.” Retrieved December 2025.
Proprietary indices are computed from the SwitchWize rate database — scraped deposit and lending rates across hundreds of tracked institutions — using a fixed representative balance so each index moves only when rates move. The full method and dated series for each index live on its own page and public JSON dataset. Sourced benchmarks cite the originating public dataset and the period they cover.
Reviewed under the SwitchWize editorial standards.
An editorial series
Lessons from capital allocation, translated into the decisions people make with their own money.
12 results · Page 1 of 1
Editorial essay
FDIC insurance covers eligible deposits after an insured bank fails. It does not by itself solve nonbank app failures or withdrawal interruptions.
Editorial essay
Evaluate stock-lending income using actual loan days, your rate, taxes, voting rights and collateral terms rather than a headline annualized rate.
Editorial essay
Compare installment fees and payment options. Chase’s interest-saving balance can preserve a plan while avoiding interest on new statement purchases.
Editorial essay
Banks report different approval policies by borrower category. See what the Fed survey says and why unused credit is not a guaranteed emergency reserve.
Editorial essay
Selected buy-now-pay-later data can inform some lending decisions without changing a credit score. Reporting, scoring and approval are separate.
Editorial essay
A stock gain can be taxed at 0% and still reduce health-insurance aid. See the income calculation before you sell.
Industry analysis
X, Revolut, Coinbase, Stripe and ChatGPT want more of your financial life. Here is why our pick is Revolut—and what could prove us wrong.
Industry analysis
Ramp wants to help businesses get more work done with AI. Revolut wants to make AI part of everyday money management. Both are building on financial relationships they already have.
Industry analysis
Three large banks report $2.85 trillion in consumer-focused deposits. Winning a share will take more than a better rate: X and Revolut must prove their judgment, reliability and accountability.
Industry analysis
China showed how a social network could become central to everyday commerce. WhatsApp proved that an enormous audience is not enough. X has an opening, but copying WeChat would be a mistake.
Industry analysis
Revolut has built a profitable financial business and wants to become a technology platform. X has a technology platform and wants to build a financial business. The distinction matters more than their shared ambition.
Industry analysis
The Fed's July 29, 2026 decision to hold rates left the national average savings rate exactly where it was. A look at why that gap between average and top savings accounts doesn't track Fed announcements the way most people assume.