The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: Jags4186 on December 13, 2014, 12:31:25 PM
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I received in the mail one of those open a chase checking and chase savings account and receive a cash bonus coupons.
$300 for opening a checking account with direct deposit
$150 for opening a savings account and depositing $10,000 for minimum of 90 days.
The $300 is a no brainier--in fact I went today to open the account (and kindly declined to buy whole life insurance or become a Chase Private Client)
But the $150 is more difficult to decide. A guaranteed 6% APY, vs buying 10k of VTSAX. I just received my year end bonus so I have just enough cash to throw it in there...
WWYD?
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It's a good (short term) rate for an emergency fund, if nothing else.
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I signed up for $100 savings provided I had a ETF every month. A couple of months I forgot, so Chase clawed some of it back in fees. Don't be like me. Either don't do it, or be more attentive.
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If you read the fine print: you get the $150 after 90 days but you have to keep the account open and 10k in there for 6 months. If you close out before 6 months you lose the $150.
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Good work jags. I took part of the same checking account offer last week. I declined the savings account....hardly seemed like a good deal after the checking account.