$500 free from Chase for about 2 hours of admin

[TheFirstMan]

I got a mailer from Chase, took it to my local branch, opened a savings account with $15K I'm sitting on for an upcoming project, and set up direct deposit from work on the checking side. That got me $200 and $300, respectively.

https://www.chase.com/content/chasecom/en/checking/offer/334022-offer-1.html has the $300 one.

I bet some internet searching can find the $200 one. There's another for $100 here: https://coupon.chaseoffers.com/banking/prep.do?ID=7011515.

I don't get any kickback, just stoked about the easy cash.

[FIRE me]

I've made $760 off Chase in the past 12 months. Two deposit account openings, and two credit card openings.

I'm sure that Chase thinks of me as their customer. But I've never paid them one penny interest, fees, for checks, or anything else. On the other hand, they have paid me $760. So I think it is a lot more reasonable for me to think of Chase as my customer.

[Jeremy E.]

They might make a little money from using the deposited money to give out loans and gain interest from them, but yeah it's sweet not being a consumerist sucka :D I just signed up for an awesome amex credit card that'll give me some sweet rewards after only spending 1k(i'll get about $500-$800 back)

[FIRE me]

Is that $500 to $800 in cash, points, or air miles? And since it is amex, is there an annual fee?

[Rosy]

OP - $500 bucks is a really sweet deal - congrats!

I wouldn't say it is exactly free considering you are locking up $10K or $15K of your money depending on the offer, for a min of 90 days. While they have the use of your money they certainly are putting it to use - so they are getting something out of the deal as well.

Still, it is a sweet deal once it hits at least the $400 or $500 bonus mark. I am not so sure about the $300 offer.
Their current $300 online offer is good until October and I'm mulling it over, whether it makes sense to give them $10K for 90 days or not. Is it really?
 
Chase bank sent out local flyers for a $150/100 deal - also locking up $10K. Wish it had been a $400 offer, I saw on line where you can sell those coupons on e-bay.
In comparison, I just completed a $200 offer (from a targeted mail offer to me) from a different bank, for doing nothing but set up direct deposit of only $100+, no min use of debit card or bill pay or anything - and I had that $200 bonus in my account within 8 days.

I did however take advantage of a Chase credit card offer - $200 for spending $500 in 90 days - now that was really easy.

[brandino29]

Their current $300 online offer is good until October and I'm mulling it over, whether it makes sense to give them $10K for 90 days or not. Is it really?

I may be doing my math wrong, but wouldn't that be 12% ROI annualized?  Pretty solid returns for very little work. 

[N]

http://www.doctorofcredit.com/

this site has lots of info on credit card offers.

I just got 2 new cards with nice bonuses and my discover card keeps sending me bonus offers, I made 75$ already and will get at least another 75 more in 2 months.

statement credits are great!

[Salivanth]

Their current $300 online offer is good until October and I'm mulling it over, whether it makes sense to give them $10K for 90 days or not. Is it really?

I may be doing my math wrong, but wouldn't that be 12% ROI annualized?  Pretty solid returns for very little work.

You are correct, it's 3% guaranteed return across 90 days. Ergo, slightly more than 12% ROI annually.

[tesuzuki2002]

I took Chase up on one of these offers almost 6 months ago....   6 month minimum time to close the accounts without a fee....   Nice those are coming up.. I hate having those accounts I don't use sitting there with the minimum balance in them.. but soon it will all clear out..   

[Rosy]

Their current $300 online offer is good until October and I'm mulling it over, whether it makes sense to give them $10K for 90 days or not. Is it really?

I may be doing my math wrong, but wouldn't that be 12% ROI annualized?  Pretty solid returns for very little work.

You are correct, it's 3% guaranteed return across 90 days. Ergo, slightly more than 12% ROI annually.

@salivanth and brandino - so if I have the same 10K sitting somewhere at 5% APY interest - I would be better offer leaving it there?

[Mississippi Mudstache]

I've made $760 off Chase in the past 12 months. Two deposit account openings, and two credit card openings.

I'm sure that Chase thinks of me as their customer. But I've never paid them one penny interest, fees, for checks, or anything else. On the other hand, they have paid me $760. So I think it is a lot more reasonable for me to think of Chase as my customer.

You inspired me to add up my numbers. Since February, I've opened: Chase Sapphire Preferred ($450), Chase Ink Plus ($600), Chase Freedom ($125), a Chase checking account ($300) and a Chase savings account ($150) for a total of $1625. Holy shit, how are these guys making any money at all? To be fair, they do service my mortgage as well, and I've actually been using their cards and checking quite a bit. But still...

[FIRE me]

You inspired me to add up my numbers. Since February, I've opened: Chase Sapphire Preferred ($450), Chase Ink Plus ($600), Chase Freedom ($125), a Chase checking account ($300) and a Chase savings account ($150) for a total of $1625. Holy shit, how are these guys making any money at all? To be fair, they do service my mortgage as well, and I've actually been using their cards and checking quite a bit. But still...

Well done!

I think they are making money. Just not off of people like you and I. They mostly make their money by the fees that they charge the people who can least afford it – those who live paycheck to paycheck, those who bounce checks, and those who carry credit card balances.

They also make money off of the wealthy who are stupid enough to use their financial planners. I was told that I may qualify for their valuable advice.

[brandino29]

Their current $300 online offer is good until October and I'm mulling it over, whether it makes sense to give them $10K for 90 days or not. Is it really?

I may be doing my math wrong, but wouldn't that be 12% ROI annualized?  Pretty solid returns for very little work.

I'd love to know where you're getting 5% on $10k in a savings account right now (unless it's one of those ones where you have to have more than $10k but less than $15k and use your debit card exactly 6 times in 30 days at certain stores only on Mondays Wednesdays and Fridays type of deal).  But yes, again, maybe I'm under thinking this but 12% returns > 5% return. 

You are correct, it's 3% guaranteed return across 90 days. Ergo, slightly more than 12% ROI annually.

@salivanth and brandino - so if I have the same 10K sitting somewhere at 5% APY interest - I would be better offer leaving it there?

[Lizzy B.]

I just closed my account last week when the six-month minimum passed. $450 for about 2 hrs of work. Husband's account can be closed in another two weeks. Pretty sweet! 

[Giro]

I love these bonuses.  I've been doing credit card offers for a couple of years now but nothing intense.  Last year, I earned $2000.  This year, I opened Huntington checking accounts in each of my kids' names.  $5k deposits = $250 bonus.  You don't even have to leave the money in there!!!  I used it as a middle man to change the name of the cash in order to fund their ROTH accounts.   I also applied for at least 10 cards this year in various family names.   

I'm going to be over $4k this year in bonuses.  LOVE THIS! 

[stash-lite]

how does this effect your credit though?  interested in this but that is making me hesitant if i am planning to buy a house 3 years from now

[Giro]

My credit has gone from about 840 to 820 over the past 12-18 months.  I've taken on several credit cards and financed a car. 

I think as long as it's above 800 I should be fine.  I do cancel the cards within a few months after I receive my bonuses.  I just don't like open cards out there ready to be stolen.  just my opinion tho.

[TheFirstMan]

I took Chase up on one of these offers almost 6 months ago....   6 month minimum time to close the accounts without a fee....   Nice those are coming up.. I hate having those accounts I don't use sitting there with the minimum balance in them.. but soon it will all clear out..

FYI, my guy at Chase said I could drop from 15K to 300 after 3 months and then just close the account entirely after another 3 (so 6 total).