The Money Mustache Community
Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: hashbrowns on August 01, 2018, 06:51:08 PM
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I just got a flyer in the mail that Capital One is offering $200 to open and deposit $10K in a money market account, with a 1.6% APY. I have some savings I'd be able to deposit, but I might be looking at needing to buy a car soon. If I close the account after collecting my $200 would it hurt me in any way, specifically my credit report? From my understanding, no because it's not an account that offers a line of credit...? Does anyone have experience with this?
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No it will not hurt your credit. I'd open the account. I just made $1000 off of chase but I had to tie up 33k for a few months. Might have to look into capital one and see if I can open the same account.
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Bank accounts will not typically do a hard credit pull. We've opened about 40 in the last year with no hard pulls.
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Saweet! I'm doing it!