Author Topic: Chase just gave me $200 to open a savings account.  (Read 2608 times)

meteor

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Chase just gave me $200 to open a savings account.
« on: August 31, 2016, 04:40:44 PM »
I was online checking my bank balance at Chase and they had a promo trying to get people to open a savings account.   You have to deposit $15,000 and keep it there for 6 months. From my figures, the return on this is comparable is double the highest paying CD right now or any money market.  I know it's down in the "noise" to hassle with things like this, but since there is really no return on interest these days, if you are parking money temporarily, you might check it out or call them.  I just had a medical appointment that cost me $200, so it's seemed worth it to offset some costs.

v8rx7guy

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Re: Chase just gave me $200 to open a savings account.
« Reply #1 on: August 31, 2016, 04:43:32 PM »
It used to be $300 up until a few months ago.  But yeah, I agree... good return on your $. 

FYI, there's also an offer for if you set up a checking account with direct deposit, they'll give you another $200.

MsFrugalista

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Re: Chase just gave me $200 to open a savings account.
« Reply #2 on: August 31, 2016, 04:49:03 PM »
Yup, my partner and I open up a Chase Checking and Savings once a year to get $500 combined bonus. It's a pretty nice chunk of cash for a couple of hours of your time (unfortunately we end up spending 30-45 mins at the bank waiting for a banker and/or chit chatting with them!).

Cancel the account 6 months after opening (if you close within 180 days they will claw back your bonus and/or charge a early termination fee), and then 90 days later repeat. I think the bonus is once per calendar year though, so you may have to wait until 2018 (assuming they have this promo going on then). But i have opened the accounts at the beginning of the year to be able to repeat it each year.

If you're interested in other bank bonuses, I would check out Doctor of Credit's blog. We have received ~$2,000 in bank bonuses each year for the past couple of years.

mathjak107

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Re: Chase just gave me $200 to open a savings account.
« Reply #3 on: September 01, 2016, 04:43:53 AM »
we did the savings account and the credit card upgrade . we got 20,000 points the other day when we hit the number we had to charge in the first 3 months .