Chase $500 offer

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Gamma Ray
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Chase $500 offer

Post by Gamma Ray » Wed Mar 25, 2015 11:53 pm

Even though I have Chase checking and savings accounts, I got this in the mail. Chase is offering $300 to those who open Chase Total Checking account and set up direct deposit, and they are offering $200 to those who open Chase Savings with $15,000 for minimum 90 days, and if you do both, they offer $500.

Did anyone with an existing Chase account open a 2nd account to take advantage of these offers?
I know that these bonuses being reported as "Interest" but I am not sure how much affect taxes have on this total reward (unlike Credit Card rewards), but do you think it's worth doing this?

To get a similar return, you'd have to keep the same $15k in a CD with %1 for about 3 years.

NightFall
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Re: Chase $500 offer

Post by NightFall » Thu Mar 26, 2015 7:29 am

I don't know about existing Chase customers, but I got an offer a few years ago from Chase to open a savings account with maybe $10000 to get a $200 bonus. I noticed that it said open and not keep. The minimum balance on the account was $300. So I deposited $10000, waited a week, withdrew $9500 (to be safe), left that in for 7 months (they required the account to be open a minimum of six months), and then closed the account. That $500 received nearly 40% interest over those 7 months. It was a good deal but high on the human intervention part.

Chase wouldn't let me withdraw the money in any form other than cash without charging some fee. So I walked away with 95 100 dollar bills that I immediately drove to another bank to deposit. I don't normally keep much cash on me, and having so much made me feel extremely nervous.

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Gamma Ray
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Re: Chase $500 offer

Post by Gamma Ray » Thu Mar 26, 2015 9:57 am

Yes, your last part is another reason why I wanted to hear the experiences of others.
I already took advantage of a similar deal and got $200 by depositing $10,000 with no other requirements (no direct deposit, etc..)
So if they let me open another account and bring in new cash, when it's time to close the account, I can simply move it from one chase account to another where I have checking/etc..

sk.dolcevita
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Re: Chase $500 offer

Post by sk.dolcevita » Thu Mar 26, 2015 10:03 am

I did this exact deal last year. I kept the money with them for the stipulated time and then closed the account. Their CSR almost expected me to.

However, I just found that I never received a 1099 from them for $500 bonus/interest.

I wonder if I can do it once more. It used to be that one was limited once a year. Wonder if that is once a calendar year (and still true).

jeff1949
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Re: Chase $500 offer

Post by jeff1949 » Thu Mar 26, 2015 11:01 am

I just did the $450 offer last month. The reason it was $50 less was because they only required at $10k deposit instead of $15k.

I have had no problem setting up a link to my Ally Bank account so transferring the funds out should not be a problem when the time comes.

I also had my wife do the same thing so we are now $600 ahead and soon to be $900 ahead (after 90 days). :sharebeer

Seattlejo
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Re: Chase $500 offer

Post by Seattlejo » Thu Mar 26, 2015 11:14 am

The last time I did a deal with Chase, I was also able to link to another bank account (BOA) and transfer my funds out once I met the stipulations for the bonus.

Bringing my Chase balance to $0 did not close the account and after a month they charged me a $10 fee for being inactive or going below the minumum (can't remember).

At that time (not sure if it has changed), there was no way to close the account online. I had to visit a bank and talk to a representative to close it.

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Bearloom
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Re: Chase $500 offer

Post by Bearloom » Thu Mar 26, 2015 3:10 pm

A note to those reading this topic: this isn't for a Chase online account; you have to actually go to a B&M branch to get this deal.

I was hoping I could make a tidy profit just shifting my EF around for a bit, but it turns out the nearest Chase branch to NE Kansas is in Tulsa. Oh well, such is life.

meebers
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Re: Chase $500 offer

Post by meebers » Thu Mar 26, 2015 3:32 pm

Have you noticed the " ** " in tiny print last line on the back in regards to these accounts?

**If either the checking or savings account is closed within six months after opening, we will deduct the bonus amount for that account at closing. :oops:

tj
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Re: Chase $500 offer

Post by tj » Thu Mar 26, 2015 10:03 pm

meebers wrote:Have you noticed the " ** " in tiny print last line on the back in regards to these accounts?

**If either the checking or savings account is closed within six months after opening, we will deduct the bonus amount for that account at closing. :oops:

So leave it open for 6 months and then close it. i've done the checking account deal for the four past years straight. The banker who opened my account pointed it out, I asked him if Chase cares, he said no. I assume he's happy because he got a commission for opening the account.


The checking account offer is much better, it's only a $1500 deposit and 1 direct deposit and get $300.

sk.dolcevita
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Re: Chase $500 offer

Post by sk.dolcevita » Thu Mar 26, 2015 10:09 pm

tj wrote:
meebers wrote:Have you noticed the " ** " in tiny print last line on the back in regards to these accounts?

**If either the checking or savings account is closed within six months after opening, we will deduct the bonus amount for that account at closing. :oops:

So leave it open for 6 months and then close it. i've done the checking account deal for the four past years straight. The banker who opened my account pointed it out, I asked him if Chase cares, he said no. I assume he's happy because he got a commission for opening the account.


The checking account offer is much better, it's only a $1500 deposit and 1 direct deposit and get $300.
So possible to do once a calendar year? I closed my Chase accounts in October 2014.

Anyone have a link to the website with the current offer?

tj
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Re: Chase $500 offer

Post by tj » Thu Mar 26, 2015 10:11 pm

sk.dolcevita wrote:
tj wrote:
meebers wrote:Have you noticed the " ** " in tiny print last line on the back in regards to these accounts?

**If either the checking or savings account is closed within six months after opening, we will deduct the bonus amount for that account at closing. :oops:

So leave it open for 6 months and then close it. i've done the checking account deal for the four past years straight. The banker who opened my account pointed it out, I asked him if Chase cares, he said no. I assume he's happy because he got a commission for opening the account.


The checking account offer is much better, it's only a $1500 deposit and 1 direct deposit and get $300.
So possible to do once a calendar year? I closed my Chase accounts in October 2014.
Read the terms of the offer for the specific requirements. There is a certain amount of time that must elapse before you closed your most recent account. I can't recall off the top of my head. I actually signed up for a $150 offer, but then I saw the $300 coupon online and sent them the coupon code and they changed it for me. :D

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Gamma Ray
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Re: Chase $500 offer

Post by Gamma Ray » Thu Mar 26, 2015 10:51 pm

Can't I just open a 2nd account? I will stop by the bank soon. I got 3 of them right near by and one by my office. Maybe I'll go to another branch to see if that makes any difference.
Or, if I open the account under my wife's name, can I get my paycheck to be deposited directly to her account?


I thought all they care about is transferring the money and gaining a new direct deposit account.
Last time I opened the account for $200 with $10k, it ended up staying there and now there is about 5 times this amount in that account.

tj
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Re: Chase $500 offer

Post by tj » Thu Mar 26, 2015 11:39 pm

Gamma Ray wrote:Can't I just open a 2nd account? I will stop by the bank soon. I got 3 of them right near by and one by my office. Maybe I'll go to another branch to see if that makes any difference.
Or, if I open the account under my wife's name, can I get my paycheck to be deposited directly to her account?


I thought all they care about is transferring the money and gaining a new direct deposit account.
Last time I opened the account for $200 with $10k, it ended up staying there and now there is about 5 times this amount in that account.
A.) I doubt you can have your paycheck deposited into somebody else's account

B.) I doubt you can open a second account for yourself.

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Uncle Pennybags
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Re: Chase $500 offer

Post by Uncle Pennybags » Fri Mar 27, 2015 12:36 am

I got those offers when I was a depositor. I am no longer a depositor because of the spam I got on my banking only email. Chase got hacked and never told anyone. I heard it on the news. That is totally unacceptable.

JPMorgan Refuses To Admit How Many People Were Actually Hacked

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Gamma Ray
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Re: Chase $500 offer

Post by Gamma Ray » Fri Apr 17, 2015 10:17 pm

Hi, just to update everyone, I was able to use $200 for $15000 offer but not $300 for Checking/Direct Deposit offer because according to the bank associate, $300 bonus is for new customers but $200 is for new accounts with new money.

While it's not the best bonus, I was there with my checkbook, so why not make a quick $200 in only 90 days which is roughly %6 APY.

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