Chase Sapphire checking 1000$ offer

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BashDash
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Chase Sapphire checking 1000$ offer

Post by BashDash » Mon Sep 30, 2019 3:33 pm

Got in snail mail today. I have a emergency fund Ally no penalty cd up in October for 75k and was thinking of shifting it. Does chase have any decent yields to put our emergency fund? Will this be a simple 1000 bonus? Not looking for a headache. Thanks!

02nz
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Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Mon Sep 30, 2019 3:42 pm

Try searching for Sapphire Checking - this has been discussed before (was an Ultimate Rewards bonus but the product is the same).

You'll need to keep a large balance - I believe $75K, but this can be ETFs held at Chase You Invest - to avoid the fee. And read the fine print on how long you have to keep the account to not have it clawed back.

SlowMovingInvestor
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Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Mon Sep 30, 2019 3:47 pm

This deal says

Eligible Accounts: personal checking, savings and/or J.P. Morgan investment accounts (You Invest Brokerage and accounts opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor or Financial Advisor).

Not sure a self opened and managed YouInvest account counts.

02nz
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Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Mon Sep 30, 2019 3:55 pm

SlowMovingInvestor wrote:
Mon Sep 30, 2019 3:47 pm
This deal says

Eligible Accounts: personal checking, savings and/or J.P. Morgan investment accounts (You Invest Brokerage and accounts opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor or Financial Advisor).

Not sure a self opened and managed YouInvest account counts.
It absolutely does. I don't keep any money in my Sapphire Checking account and get the fee waiver because of the balance in my You Invest brokerage account, which I opened and manage myself (note that IRAs don't count). The key word is "and" - You Invest brokerage accounts AND accounts opened in a Chase branch, yada yada.

SlowMovingInvestor
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Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Mon Sep 30, 2019 3:59 pm

02nz wrote:
Mon Sep 30, 2019 3:55 pm
SlowMovingInvestor wrote:
Mon Sep 30, 2019 3:47 pm
This deal says

Eligible Accounts: personal checking, savings and/or J.P. Morgan investment accounts (You Invest Brokerage and accounts opened in a Chase branch and serviced by a J.P. Morgan Private Client Advisor or Financial Advisor).

Not sure a self opened and managed YouInvest account counts.
It absolutely does. I don't keep any money in my Sapphire Checking account and get the fee waiver because of the balance in my You Invest brokerage account, which I opened and manage myself (note that IRAs don't count). The key word is "and" - You Invest brokerage accounts AND accounts opened in a Chase branch, yada yada.
I know that YouInvest counts in general to avoid the fee -- indeed, I have one myself. I thought it might not count for this bonus, but you're right -- it's the 'and'. Unfortunately, I already have an account, so ineligible …

arf30
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Re: Chase Sapphire checking 1000$ offer

Post by arf30 » Mon Sep 30, 2019 4:10 pm

Seems like a good bonus, they will send you a 1099 for the 1k and you'll need to pay taxes on it (vs credit card bonuses which are considered rebates and usually not taxed). The big catch is the YouInvest brokerage doesn't correctly support SpecId cost basis correctly for assets that are transferred in (see the other threads), which is a dealbreaker for me. There's also a $75 fee to transfer assets back out.

Dandy
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Re: Chase Sapphire checking 1000$ offer

Post by Dandy » Tue Oct 01, 2019 8:38 am

Got the same offer. Interest rate is 0.01% and I don't recall what was required to waive the high monthly fee. Decided to pass but possibly could be decent if the monthly fee waiver requirement was reasonable.

batpot
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Re: Chase Sapphire checking 1000$ offer

Post by batpot » Tue Oct 01, 2019 9:45 am

hardly worth the effort.
$1k on $75k is peanuts.

The much more attractive offer is the $600 on $15k.
https://www.doctorofcredit.com/chase-60 ... ngs-bonus/
Treated like a 6 month CD, it earns 8%, but you have to apply in person.

random_walker
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Re: Chase Sapphire checking 1000$ offer

Post by random_walker » Tue Oct 01, 2019 10:12 am

batpot wrote:
Tue Oct 01, 2019 9:45 am
The much more attractive offer is the $600 on $15k.
https://www.doctorofcredit.com/chase-60 ... ngs-bonus/
Treated like a 6 month CD, it earns 8%, but you have to apply in person.
This is a good offer indeed but I don't like to mess with my direct deposit (paycheck/pension) frequently:

> To qualify for bonus: direct deposit is required.
> To avoid monthly fees: Have monthly direct deposits totaling $500 or more.

batpot
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Re: Chase Sapphire checking 1000$ offer

Post by batpot » Tue Oct 01, 2019 10:24 am

random_walker wrote:
Tue Oct 01, 2019 10:12 am
batpot wrote:
Tue Oct 01, 2019 9:45 am
The much more attractive offer is the $600 on $15k.
https://www.doctorofcredit.com/chase-60 ... ngs-bonus/
Treated like a 6 month CD, it earns 8%, but you have to apply in person.
This is a good offer indeed but I don't like to mess with my direct deposit (paycheck/pension) frequently:

> To qualify for bonus: direct deposit is required.
> To avoid monthly fees: Have monthly direct deposits totaling $500 or more.
You skipped the last bullet point:
[*]Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances

You have $15k in the savings, and that satisfies the checking fee waiver.

When I did this last time, I "direct deposited" $20 cash into the ATM at the bank where I signed up. Then ACHed $15k and let it sit.
Looks like you can do it online now, so the terms are a bit different.

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whodidntante
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Re: Chase Sapphire checking 1000$ offer

Post by whodidntante » Tue Oct 01, 2019 10:31 am

I would be all over that offer, today. Transfer securities in kind from wherever you currently keep them, and you don't have to come up with any money or worry about interest. It is as close as you can get to money for nothing unless you've figured out a way to get money for nothing.

02nz
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Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Tue Oct 01, 2019 11:03 am

batpot wrote:
Tue Oct 01, 2019 10:24 am
When I did this last time, I "direct deposited" $20 cash into the ATM at the bank where I signed up. Then ACHed $15k and let it sit.
Depositing cash at an ATM definitely does not count as a direct deposit for the purposes of such a promotion. ACH might. Doctorofcredit has an excellent list of user data points on what counts and doesn't count: https://www.doctorofcredit.com/knowledg ... its/#Chase

junior
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Re: Chase Sapphire checking 1000$ offer

Post by junior » Tue Oct 01, 2019 11:12 am

batpot wrote:
Tue Oct 01, 2019 9:45 am
The much more attractive offer is the $600 on $15k.
You can do both though, at least according to Doctor of Credit:
"Keep in mind getting this bonus can only be done once per 12 month period, you can do a Chase checking/savings bonus every 24 months and they are on different clocks (e.g doing this bonus doesn’t make you ineligible for the Chase checking/savings bonus). "
https://www.doctorofcredit.com/chase-sa ... unt-offer/

junior
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Re: Chase Sapphire checking 1000$ offer

Post by junior » Tue Oct 01, 2019 11:16 am

As far as I can tell this offer is open to the public:

https://www.doctorofcredit.com/chase-sa ... unt-offer/

lgs88
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Chase $1,000 Bonus for Opening a Checking Account

Post by lgs88 » Wed Dec 04, 2019 12:42 pm

All,

Chase is offering $1,000 to entice new checking customers.

You must use a coupon code when opening the account, then transfer $75,000 in cash/eligible investments to Chase. For me, that meant opening a brokerage account at Chase. There are several carve-outs, but it seems that if you transfer cash or stock, you should be good to go. 90-or-so day wait required to receive bonus.

There is a monthly maintenance fee of $25, which is waived if you have $75,000+ in "eligible investments" at Chase. The definition of "eligible investments" is different to waive the monthly maintenance fee than it is to get the bonus, so caveat emptor.

https://accounts.chase.com/consumer/ban ... rechampion
merely an interested amateur

rich126
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Re: Chase $1,000 Bonus for Opening a Checking Account

Post by rich126 » Wed Dec 04, 2019 12:46 pm

Thanks but I personally I prefer the offers for $600 since that only requires $15,000. $75K for $1K isn't worth it to me.

02nz
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Re: Chase $1,000 Bonus for Opening a Checking Account

Post by 02nz » Wed Dec 04, 2019 12:55 pm

I think this has been covered before. Search for Sapphire Checking. They've offered another version of this bonus before - 60,000 Ultimate Rewards points, which can be worth more than $1K depending on how you use them.

With offers like this it's better to meet the balance requirement with the You Invest self-directed brokerage product rather than keeping money with Chase earning 0.01% or whatever ridiculous APY they pay. I've held VTI there for months now, no issues, although some find You Invest too limited.

ohai
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Re: Chase $1,000 Bonus for Opening a Checking Account

Post by ohai » Wed Dec 04, 2019 1:02 pm

Wait, so do you go around just opening checking accounts for $500 to $1000 bonuses? It seems like the hassle of having many accounts would eventually outweight these rewards.

Flyer24
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Re: Chase Sapphire checking 1000$ offer

Post by Flyer24 » Wed Dec 04, 2019 1:04 pm

Topics have been merged.

lgs88
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Re: Chase $1,000 Bonus for Opening a Checking Account

Post by lgs88 » Wed Dec 04, 2019 1:04 pm

ohai wrote:
Wed Dec 04, 2019 1:02 pm
Wait, so do you go around just opening checking accounts for $500 to $1000 bonuses? It seems like the hassle of having many accounts would eventually outweight these rewards.
It's my first time going in for one of these. I've stuck with BofA out of inertia, but given how much I've spent on ATM fees with them, I may well stick with Chase even past the promotional period.
merely an interested amateur

smalliebigs
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Re: Chase Sapphire checking 1000$ offer

Post by smalliebigs » Wed Dec 04, 2019 2:37 pm

I've gotten a cash offer similar to this before as well. When talking to my branch manager, she suggested to wait for the one that offers UR points, instead of cash. The IRS cannot touch your UR points...

Calhoon
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Re: Chase Sapphire checking 1000$ offer

Post by Calhoon » Sat Jan 04, 2020 10:37 am

Going around in circles with chase customer service trying to get a straight answer.

Sounds like here and elsewhere guys are getting the chase sapphire checking 1000 bonus while keeping the funds in a you invest account...but you need to keep the 75k in chase sapphire checking for 90 days. How are they doing this?

I opened a chase sapphire account.
Deposited 75k.
All good for the bonus.
I then opened a you invest account.
And funded that you invest account with funds from the chase sapphire account.

Did I just disqualify myself from the bonus? Getting conflicting information on this from chase.

jeff1949
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Re: Chase Sapphire checking 1000$ offer

Post by jeff1949 » Tue Jan 14, 2020 6:55 pm

The $1000 offer has now been extended from Jan. 17th to March 6th, 2020:

https://accounts.chase.com/consumer/ban ... rechampion

rich126
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Re: Chase Sapphire checking 1000$ offer

Post by rich126 » Tue Jan 14, 2020 7:20 pm

I just went with the $600 offer when opening a checking and savings account and keeping a balance in it. I moved over $15K to savings and $2K for checking. I rarely do this, last time was probably 15 years ago since it can be a hassle. This time I had the cash in another account that wasn't getting much of any interest so I'll take the ~4% for 6 months and likely will close the accounts unless my current bank annoys me further.

SlowMovingInvestor
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Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Tue Jan 14, 2020 8:19 pm

smalliebigs wrote:
Wed Dec 04, 2019 2:37 pm
I've gotten a cash offer similar to this before as well. When talking to my branch manager, she suggested to wait for the one that offers UR points, instead of cash. The IRS cannot touch your UR points...
Chase will 1099 the UR points, probably at 1c/point. And you'll have to pay taxes in $$ (the IRS won't accept taxes in UR points :happy ).

The original offer was for 60K UR points, so it would count as $600. At a 30% tax bracket (Fed + state), you'd pay around $180 for 60K points, which was a very good deal.

$1000 is a very good deal too. For maybe 5 hrs work, it's excellent.

LifeIsGood
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Re: Chase Sapphire checking 1000$ offer

Post by LifeIsGood » Wed Jan 15, 2020 6:39 am

I'm curious how this will play out. I recently opened a Chase checking account and then transferred approx $75k worth of securities into a newly opened You Invest account. I was told that if I keep the securities in my account for 90 days, the bonus will be paid. Fingers crossed.
My interpretation of the offer is that you should have either left the $75K in the checking account OR put $75k in an investment with money and/or securities NOT previously held by Chase.
The offer says:
" . . . transfer a total of $75,000 or more in qualifying NEW money or securities to a combination of eligible checking, savings, and/or investment accounts . . ."
Calhoon wrote:
Sat Jan 04, 2020 10:37 am
Going around in circles with chase customer service trying to get a straight answer.

Sounds like here and elsewhere guys are getting the chase sapphire checking 1000 bonus while keeping the funds in a you invest account...but you need to keep the 75k in chase sapphire checking for 90 days. How are they doing this?

I opened a chase sapphire account.
Deposited 75k.
All good for the bonus.
I then opened a you invest account.
And funded that you invest account with funds from the chase sapphire account.

Did I just disqualify myself from the bonus? Getting conflicting information on this from chase.

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Re: Chase Sapphire checking 1000$ offer

Post by susa » Wed Jan 15, 2020 7:17 am

rich126 wrote: I just went with the $600 offer when opening a checking and savings account and keeping a balance in it. I moved over $15K to savings and $2K for checking.
Was there a reason you moved 2k into checking as the terms for the $600 bonus specify only fee-free requirement avg of 1.5k ?

I understand the 15k in savings is required for 90 days and both accounts must remain open for 6 months but balances can be reduced after 90-days to 1500 checking and 300 savings.

smalliebigs
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Re: Chase Sapphire checking 1000$ offer

Post by smalliebigs » Wed Jan 15, 2020 9:15 am

SlowMovingInvestor wrote:
Tue Jan 14, 2020 8:19 pm

Chase will 1099 the UR points, probably at 1c/point. And you'll have to pay taxes in $$ (the IRS won't accept taxes in UR points :happy ).

The original offer was for 60K UR points, so it would count as $600. At a 30% tax bracket (Fed + state), you'd pay around $180 for 60K points, which was a very good deal.

$1000 is a very good deal too. For maybe 5 hrs work, it's excellent.
I talked to a branch manager, and she said the IRS cannot tax UR points. So she advised me to wait for target offers for UR points instead of $

SlowMovingInvestor
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Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Wed Jan 15, 2020 9:24 am

smalliebigs wrote:
Wed Jan 15, 2020 9:15 am
SlowMovingInvestor wrote:
Tue Jan 14, 2020 8:19 pm

Chase will 1099 the UR points, probably at 1c/point. And you'll have to pay taxes in $$ (the IRS won't accept taxes in UR points :happy ).

The original offer was for 60K UR points, so it would count as $600. At a 30% tax bracket (Fed + state), you'd pay around $180 for 60K points, which was a very good deal.

$1000 is a very good deal too. For maybe 5 hrs work, it's excellent.
I talked to a branch manager, and she said the IRS cannot tax UR points. So she advised me to wait for target offers for UR points instead of $
Chase specifically said in it's Sapphire UR offer last year that it's going to send 1099s for the UR points. It already sent some 1099s for UR points that people obtained for referrals in 2018. That was for 1c/point.

So your branch manager is 100% wrong according to Chase itself.

Note that Chase doesn't send 1099s for URs obtained through credit card signups -- they're considered rebates on spending. But a checking bonus is different, it's like interest. The IRS will want to tax it even if Chase didn't 1099 it, but Chase will/are 1099ing so the question doesn't even arise.
Last edited by SlowMovingInvestor on Wed Jan 15, 2020 9:39 am, edited 1 time in total.

smalliebigs
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Re: Chase Sapphire checking 1000$ offer

Post by smalliebigs » Wed Jan 15, 2020 9:34 am

I see. So perhaps she mixed up the credit card bonus to checking bonus. That's fine. I won't hold this against her, anyway

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Tamarind
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Re: Chase Sapphire checking 1000$ offer

Post by Tamarind » Wed Jan 15, 2020 11:42 am

I am just about to close a Chase checking account that I opened for a bonus (Total, not Sapphire). I was advised by an employee at the branch that they would claw back bonuses if I closed the account within 6 months of opening it. However the bonus offer only required me to hold the account for 90 days to receive the bonus.

yosh99
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Re: Chase Sapphire checking 1000$ offer

Post by yosh99 » Wed Jan 15, 2020 11:48 am

Be sure to read the fine print. This offer is not valid in some states which I unfortunately just discovered too late.

rich126
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Re: Chase Sapphire checking 1000$ offer

Post by rich126 » Wed Jan 15, 2020 5:53 pm

susa wrote:
Wed Jan 15, 2020 7:17 am
rich126 wrote: I just went with the $600 offer when opening a checking and savings account and keeping a balance in it. I moved over $15K to savings and $2K for checking.
Was there a reason you moved 2k into checking as the terms for the $600 bonus specify only fee-free requirement avg of 1.5k ?

I understand the 15k in savings is required for 90 days and both accounts must remain open for 6 months but balances can be reduced after 90-days to 1500 checking and 300 savings.
Just because I had extra money in the bank account I was transferring it from, and to cover me in case I did something stupid :)

I have had a credit union for a long time and don't keep much in it but want to keep it active since some things they do very well. I opened a Wells Fargo account many years ago when I moved out west and it was harder for me to find an ATM to get cash out of that didn't charge me a fee from my CU. Of course now, cash isn't so important. And with a recently opened Fidelity account (due to a new job that uses them for 401K/HSA), I could probably just use that for everything.

ThermoMaster
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Re: Chase Sapphire checking 1000$ offer

Post by ThermoMaster » Wed Jan 15, 2020 6:10 pm

Tamarind wrote:
Wed Jan 15, 2020 11:42 am
I am just about to close a Chase checking account that I opened for a bonus (Total, not Sapphire). I was advised by an employee at the branch that they would claw back bonuses if I closed the account within 6 months of opening it. However the bonus offer only required me to hold the account for 90 days to receive the bonus.
I did the sapphire bonus. Closed the account just after 90 days and received the full bonus. Its been well over a month and there has been no clawback.

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Tamarind
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Re: Chase Sapphire checking 1000$ offer

Post by Tamarind » Thu Jan 16, 2020 3:30 am

ThermoMaster wrote:
Wed Jan 15, 2020 6:10 pm
Tamarind wrote:
Wed Jan 15, 2020 11:42 am
I am just about to close a Chase checking account that I opened for a bonus (Total, not Sapphire). I was advised by an employee at the branch that they would claw back bonuses if I closed the account within 6 months of opening it. However the bonus offer only required me to hold the account for 90 days to receive the bonus.
I did the sapphire bonus. Closed the account just after 90 days and received the full bonus. Its been well over a month and there has been no clawback.
I suspected the guy was blowing hot air, but thanks for confirming.

SciurusVulgaris
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Re: Chase Sapphire checking 1000$ offer

Post by SciurusVulgaris » Thu Jan 16, 2020 10:48 am

Tamarind wrote:
Thu Jan 16, 2020 3:30 am
ThermoMaster wrote:
Wed Jan 15, 2020 6:10 pm
Tamarind wrote:
Wed Jan 15, 2020 11:42 am
I am just about to close a Chase checking account that I opened for a bonus (Total, not Sapphire). I was advised by an employee at the branch that they would claw back bonuses if I closed the account within 6 months of opening it. However the bonus offer only required me to hold the account for 90 days to receive the bonus.
I did the sapphire bonus. Closed the account just after 90 days and received the full bonus. Its been well over a month and there has been no clawback.
I suspected the guy was blowing hot air, but thanks for confirming.
This is in the bonus terms of service I received:
If either checking or savings account is closed by the customer or Chase within six months after opening, we will deduct the bonus amount for that account at closing.
I guess they don't enforce it.

protagonist
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Re: Chase Sapphire checking 1000$ offer

Post by protagonist » Thu Jan 16, 2020 11:17 am

I thought about doing this, but when I calculated the effective yield on $75K , if my memory serves me well, it only came to about 4% annualized, and I would have to move money around and find a new home for my $75K in a matter of months.

Instead I bought a 30 month CD at Keesler CU at 3.1-3.2% APY. The additional return that Chase offers over only a few months, I decided, was not worth the hassle.

That said, if you need the cash within the next 6 months or so it is probably worth going for it.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 1:07 pm

"Meet with a banker to upgrade your relationship or open a new Chase SapphireSM Checking account. Offer expires 03/06/2020" https://accounts.chase.com/consumer/ban ... rechampion

Does this mean if I already have a Chase checking account and meet with a banker, they'll change the existing checking account to Sapphire, rather than creating a new Sapphire checking account? I'd rather not have an two checking accounts at Chase.

Is Short-Term Tax-Exempt Adm (VWSUX) available through YouInvest? If not, what would be the closest? That would be my preferred way of funding the $75k requirement.

"Service Fee: Chase SapphireSM Checking has no Monthly Service Fee when you do the following each statement period: Keep an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances." This suggests they'll charge the service fee for the first month, since average daily balance will be under $75,000, unless the first month starts when the funds arrive. This doesn't matter in light of the $1,000 bonus (less taxes), but is annoying.

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 2:19 pm

SlowMovingInvestor wrote:
Wed Jan 15, 2020 9:24 am
smalliebigs wrote:
Wed Jan 15, 2020 9:15 am
SlowMovingInvestor wrote:
Tue Jan 14, 2020 8:19 pm

Chase will 1099 the UR points, probably at 1c/point. And you'll have to pay taxes in $$ (the IRS won't accept taxes in UR points :happy ).

The original offer was for 60K UR points, so it would count as $600. At a 30% tax bracket (Fed + state), you'd pay around $180 for 60K points, which was a very good deal.

$1000 is a very good deal too. For maybe 5 hrs work, it's excellent.
I talked to a branch manager, and she said the IRS cannot tax UR points. So she advised me to wait for target offers for UR points instead of $
Chase specifically said in it's Sapphire UR offer last year that it's going to send 1099s for the UR points. It already sent some 1099s for UR points that people obtained for referrals in 2018. That was for 1c/point.

So your branch manager is 100% wrong according to Chase itself.

Note that Chase doesn't send 1099s for URs obtained through credit card signups -- they're considered rebates on spending. But a checking bonus is different, it's like interest. The IRS will want to tax it even if Chase didn't 1099 it, but Chase will/are 1099ing so the question doesn't even arise.
I agree. https://thepointsguy.com/news/chase-109 ... l-bonuses/ https://thepointsguy.com/news/chase-fil ... al-income/

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 2:24 pm

Seasonal wrote:
Sun Jan 26, 2020 1:07 pm
"Meet with a banker to upgrade your relationship or open a new Chase SapphireSM Checking account. Offer expires 03/06/2020" https://accounts.chase.com/consumer/ban ... rechampion

Does this mean if I already have a Chase checking account and meet with a banker, they'll change the existing checking account to Sapphire, rather than creating a new Sapphire checking account? I'd rather not have an two checking accounts at Chase.

Is Short-Term Tax-Exempt Adm (VWSUX) available through YouInvest? If not, what would be the closest? That would be my preferred way of funding the $75k requirement.

"Service Fee: Chase SapphireSM Checking has no Monthly Service Fee when you do the following each statement period: Keep an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances." This suggests they'll charge the service fee for the first month, since average daily balance will be under $75,000, unless the first month starts when the funds arrive. This doesn't matter in light of the $1,000 bonus (less taxes), but is annoying.
Yes. They will upgrade it. My banker told me that they will not charge the fee for the first two months.

Seasonal
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Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 2:29 pm

student wrote:
Sun Jan 26, 2020 2:24 pm
Yes. They will upgrade it. My banker told me that they will not charge the fee for the first two months.
Thank you.

Is there a public list of available Vanguard mutual funds that you can buy through Chase YouInvest?

It now occurs to me that it might be better to open a new Sapphire Checking account. They no longer offer my current checking account type, so if I upgrade to Sapphire, then want to downgrade in the future, it would be into another product.

student
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Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 3:11 pm

Seasonal wrote:
Sun Jan 26, 2020 2:29 pm
student wrote:
Sun Jan 26, 2020 2:24 pm
Yes. They will upgrade it. My banker told me that they will not charge the fee for the first two months.
Thank you.

Is there a public list of available Vanguard mutual funds that you can buy through Chase YouInvest?

It now occurs to me that it might be better to open a new Sapphire Checking account. They no longer offer my current checking account type, so if I upgrade to Sapphire, then want to downgrade in the future, it would be into another product.
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.

Seasonal
Posts: 778
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 4:02 pm

student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.

FishTaco
Posts: 6
Joined: Sat Jun 08, 2019 7:49 am

Re: Chase Sapphire checking 1000$ offer

Post by FishTaco » Sun Jan 26, 2020 4:16 pm

Data Point:

Received my 1000 bonus after holding 75k+ in a YouInvest account that I opened and funded after opening the checking acct with bonus offer activated. I received the bonus about 60 days after funding the YouInvest account, which I opened shortly after opening the Sapphire Reserve checking account.

student
Posts: 4505
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 4:29 pm

Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931

Seasonal
Posts: 778
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 5:32 pm

student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
I currently hold VWSUX in a regular (not brokerage) Vanguard account and have elected average cost basis (for simplicity and because ST bonds don't fluctuate that much). I could transfer shares or sell, transfer funds and buy VWSUX at YouInvest. Selling would incur only a relatively small tax cost. OTOH, the process you describe in your post doesn't sound that hard - fill out a form and upload it to Vanguard, if I understand correctly.

How do I get the right form and necessary information? Was it simple enough so that this course would be better than just selling and moving cash?

Would the process be:

1) Talk to Vanguard about the contemplated share transfer.

2) Open a Sapphire checking account online using the bonus link from https://accounts.chase.com/consumer/ban ... rechampion

3) Open a YouInvest account online.

4) Send the transfer form to Vanguard, after which they will handle the transfer.

5) Chase sends me a new ATM /debit card for the new Sapphire checking account. I would now have two Chase checking accounts.

Anything else I should know?

student
Posts: 4505
Joined: Fri Apr 03, 2015 6:58 am

Re: Chase Sapphire checking 1000$ offer

Post by student » Sun Jan 26, 2020 5:39 pm

Seasonal wrote:
Sun Jan 26, 2020 5:32 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
I currently hold VWSUX in a regular (not brokerage) Vanguard account and have elected average cost basis (for simplicity and because ST bonds don't fluctuate that much). I could transfer shares or sell, transfer funds and buy VWSUX at YouInvest. Selling would incur only a relatively small tax cost. OTOH, the process you describe in your post doesn't sound that hard - fill out a form and upload it to Vanguard, if I understand correctly.

How do I get the right form and necessary information? Was it simple enough so that this course would be better than just selling and moving cash?

Would the process be:

1) Talk to Vanguard about the contemplated share transfer.

2) Open a Sapphire checking account online using the bonus link from https://accounts.chase.com/consumer/ban ... rechampion

3) Open a YouInvest account online.

4) Send the transfer form to Vanguard, after which they will handle the transfer.

5) Chase sends me a new ATM /debit card for the new Sapphire checking account. I would now have two Chase checking accounts.

Anything else I should know?
1) is not necessary. You can open a You Invest account and get the transfer form Chase and upload it to Chase, Chase will take care of the rest. If the tax consequence is negligible, I would just sell the shares and transfer the cash to make it easier. Make sure that your Chase Invest account is "linked" to you sapphire checking, whatever that means by calling them. Wait time is a few seconds. You should also "link" your other checking account to it so that no monthly fee for that account. I am guessing "link" means all the accounts that you can see when you log on.

SlowMovingInvestor
Posts: 1726
Joined: Sun Sep 11, 2016 11:27 am

Re: Chase Sapphire checking 1000$ offer

Post by SlowMovingInvestor » Sun Jan 26, 2020 5:49 pm

I still continue to be concerned about how committed Chase is to YouInvest. Now that it's lost its USP (free trades), does Chase have any reason to focus on it, and bring it up to par with other discount online brokerages ?

Right now, I hold only VG MMFs at YouInvest. No cost basis issues, very simple 1099.

Honestly, if I were Jaime Dimon, I would have been looking at buying Etrade or the like as Chase's discount brokerage arm.

Seasonal
Posts: 778
Joined: Sun May 21, 2017 1:49 pm

Re: Chase Sapphire checking 1000$ offer

Post by Seasonal » Sun Jan 26, 2020 5:59 pm

student wrote:
Sun Jan 26, 2020 5:39 pm
Seasonal wrote:
Sun Jan 26, 2020 5:32 pm
student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
I currently hold VWSUX in a regular (not brokerage) Vanguard account and have elected average cost basis (for simplicity and because ST bonds don't fluctuate that much). I could transfer shares or sell, transfer funds and buy VWSUX at YouInvest. Selling would incur only a relatively small tax cost. OTOH, the process you describe in your post doesn't sound that hard - fill out a form and upload it to Vanguard, if I understand correctly.

How do I get the right form and necessary information? Was it simple enough so that this course would be better than just selling and moving cash?

Would the process be:

1) Talk to Vanguard about the contemplated share transfer.

2) Open a Sapphire checking account online using the bonus link from https://accounts.chase.com/consumer/ban ... rechampion

3) Open a YouInvest account online.

4) Send the transfer form to Vanguard, after which they will handle the transfer.

5) Chase sends me a new ATM /debit card for the new Sapphire checking account. I would now have two Chase checking accounts.

Anything else I should know?
1) is not necessary. You can open a You Invest account and get the transfer form Chase and upload it to Chase, Chase will take care of the rest. If the tax consequence is negligible, I would just sell the shares and transfer the cash to make it easier. Make sure that your Chase Invest account is "linked" to you sapphire checking, whatever that means by calling them. Wait time is a few seconds. You should also "link" your other checking account to it so that no monthly fee for that account. I am guessing "link" means all the accounts that you can see when you log on.
Aha. I was reading your post as requiring uploading the form to Vanguard.

Would you recommend doing all of this online or going to a branch?

02nz
Posts: 3235
Joined: Wed Feb 21, 2018 3:17 pm

Re: Chase Sapphire checking 1000$ offer

Post by 02nz » Sun Jan 26, 2020 6:34 pm

student wrote:
Sun Jan 26, 2020 4:29 pm
Seasonal wrote:
Sun Jan 26, 2020 4:02 pm
student wrote:
Sun Jan 26, 2020 3:11 pm
Not publicly available, you have to get a You Invest account to see that. I have checked and they have everything that I am invested in. I recently transferred my mutual fund holdings at Vanguard to Chase.
If you get the chance, would you please check if Short-Term Tax-Exempt Adm (VWSUX) is available. Otherwise, I suppose I could transfer the securities rather than sell, move funds, then buy at Chase.
Yes. It is. Here is my recent experience of transferring from Vanguard to Chase. viewtopic.php?f=1&t=300931
When I looked it up in You Invest, VWSUX shows as not available, system suggests VWSTX (the investor class) instead. I suggest calling Chase - I vaguely recall that they had some Vanguard funds that you could hold there by transferring in but not buy, maybe this is one.

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