I took advantage of the Chase $500 bonus on new checking and savings today. Was able to use the promo code and setup the account online. It's a bit of work to set up the external accounts and wait for them to be verified. I have to transfer $15,000 from Capital One to Chase for the savings requirement, which remains for 90 days. That earns me $200. (I'll be losing $56 in interest from Cap One but earning $200.) After that, I only need to keep $300 there. For checking, I must set up direct deposits from my employer of $500/month. I earn $300 for fulfilling the checking requirement. After 6 months I will close the accounts.
I'm excited, because once I receive the $500, I will add that to my Surgery fund for a new balance of $1,040.
$500.00? Yes!
March 17th, 2018 at 11:42 pm
March 18th, 2018 at 01:25 am 1521336355
March 18th, 2018 at 10:07 am 1521367665
March 18th, 2018 at 12:09 pm 1521374951
I've thought about doing this a few times...it's so tempting, but the whole process is a pain, as you pointed out, waiting for those test deposits to clear, and then being sure to change the bank account you use when paying any bills online. And then of course having to do it all over again after you close the new account and go back to your old one.
Still, if you're willing to do all that, it's a nice bonus. Remember at tax time you'll be getting a 1099 on the savings account from Chase although you will have been with them very briefly.
March 18th, 2018 at 08:04 pm 1521403460
March 18th, 2018 at 11:54 pm 1521417251