The Money Mustache Community
Learning, Sharing, and Teaching => Investor Alley => Topic started by: NewDay1 on July 21, 2019, 07:27:04 PM
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Hello,
There's a special now with Capitol One 360 online money market account ($10K, $200 bonus after 90 days). I don't see any fine print that if you close the account after the bonus, there's a penalty or you forfeit the bonus (unlike some other specials I've read).
Am I missing something?
https://www.capitalone.com/open200/
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I understand where you are coming from, but I don't think you are missing anything.
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Chasing bank bonuses can be lucrative. :)
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Hello,
There's a special now with Capitol One 360 online money market account ($10K, $200 bonus after 90 days). I don't see any fine print that if you close the account after the bonus, there's a penalty or you forfeit the bonus (unlike some other specials I've read).
Am I missing something?
https://www.capitalone.com/open200/
My bonus just posted, can confirm that there's nothing hidden.
Some bonuses post immediately and there is a penalty if you withdraw funds within X days. Others (like this Capital One bonus), have a delay period before the bonus is paid, and you are free to do what you want with it.
Bonus is paid in 90-150 days after you deposit the 10k. In my case, it posted ~95 days after the 10k was in the account. I plan on withdrawing the funds after my interest is posted at the end of the month.
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If you have $15,000 there are a couple more options that have bigger payouts.
This one is available nationwide
https://www.doctorofcredit.com/citi-400-600-personal-checking-savings-bonus-available-nationwide-direct-deposit-not-required/
This one is restricted to certain states
https://www.doctorofcredit.com/fl-ga-il-in-ky-mi-nc-oh-tn-wv-fifth-third-500-checking-bonus-direct-deposits-not-required/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+DoctorOfCredit+%28Doctor+Of+Credit%29
There are a lot of choices available.
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It appears the Citi deal also offers an additional $100 if you set up a monthly direct deposit for 2 consecutive months. However, I can't seem to find if there's a minimum DD required. Anyone know?
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It appears the Citi deal also offers an additional $100 if you set up a monthly direct deposit for 2 consecutive months. However, I can't seem to find if there's a minimum DD required. Anyone know?
Don't personally have a DP, but from the terms and conditions, there doesn't appear to be any minimum $$ required for the DD:
4) If you are eligible for the additional $100 cash bonus ($500 offer), within 60 days of opening the new Eligible Checking Account, complete 1 Qualifying Direct Deposit into the Eligible Checking Account for two consecutive months. A “Qualifying Direct Deposit” is an Automated Clearing House (ACH) credit, which may include payroll, pension or government payments (such as Social Security) by your employer, or an outside agency.
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Last year I collected over $2,500 in these bonuses by opening various savings/checking/mm accounts.
Enjoy!