Author Topic: Bank account churning: how to make $1600 in a year by being organized  (Read 376890 times)

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1200 on: July 05, 2023, 05:23:15 AM »
I got the Axos Brokerage "Promo Credit" today. (i.e. sign up bonus).  It wasn't the $250 as promised but only $200.  But a lot of people said they had problems getting the bonus at all.

Should I contact them about the $50 they didn't give me?  Or just be happy I got a bonus from them at all?

I signed up for a new business bank account with Axos to get $200 but it was a big hassle. I think I have to have an average balance of $2,500 in the account but it's taken so long that at this point I'm worried it may not post. I'm on hold with tech support now because I can't even login to their online system. I may just close my account and write off the time I already spent.

I got the $250 brokerage bonus previously. I had enough moneyxtime in the bank brokerage but never got it.
Apparently the bonus was not applied when I opened the account (sounds bogus as I applied through a DoC link).
The CSR did say I could close the account and open a new one for the bonus, so I'm doing that now.
I've found when I am super nice and respectful on the phone they actually seem to try to help me, even when it's obvious I'm just churning bonuses.
I finally got around to trying the Axos $100 checking bonus again yesterday but it looks like the  promo ended June 30. I keep losing out on this stupid bank.
I did sign up through a MyPoints link for 200,000 points ($200) which is tracking in the app, so that's a positive sign.

The $100 bonus promo was extended to July 31st so you should be good. You can also churn this bank through MP and SB. I got both rewards and the Axos bonus. I waited 6+ month between closing and opening though.
« Last Edit: July 05, 2023, 05:35:15 AM by MasterStache »

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1201 on: July 05, 2023, 07:56:05 AM »
I got the Axos Brokerage "Promo Credit" today. (i.e. sign up bonus).  It wasn't the $250 as promised but only $200.  But a lot of people said they had problems getting the bonus at all.

Should I contact them about the $50 they didn't give me?  Or just be happy I got a bonus from them at all?

I signed up for a new business bank account with Axos to get $200 but it was a big hassle. I think I have to have an average balance of $2,500 in the account but it's taken so long that at this point I'm worried it may not post. I'm on hold with tech support now because I can't even login to their online system. I may just close my account and write off the time I already spent.

I got the $250 brokerage bonus previously. I had enough moneyxtime in the bank brokerage but never got it.
Apparently the bonus was not applied when I opened the account (sounds bogus as I applied through a DoC link).
The CSR did say I could close the account and open a new one for the bonus, so I'm doing that now.
I've found when I am super nice and respectful on the phone they actually seem to try to help me, even when it's obvious I'm just churning bonuses.
I finally got around to trying the Axos $100 checking bonus again yesterday but it looks like the  promo ended June 30. I keep losing out on this stupid bank.
I did sign up through a MyPoints link for 200,000 points ($200) which is tracking in the app, so that's a positive sign.

The $100 bonus promo was extended to July 31st so you should be good. You can also churn this bank through MP and SB. I got both rewards and the Axos bonus. I waited 6+ month between closing and opening though.
You're correct, it's been extended through July. I was also wrong on the dollar value of the MP points.
I was approved for a B of A personal checking account with a measly $100 bonus, but I relish taking B of A's money, heh.

jim555

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1202 on: July 05, 2023, 02:27:14 PM »
New Citibank one.

 "Open a new Citi checking account package, deposit new-to-Citi funds within 20 days, hold you balance for an additional 60 calendar days, and receive a cash bonus: Deposit and maintain and $10,000 balance, earn $200; deposit and maintain a $30,000 balance, earn $500; deposit and maintain a $75,000 balance, earn $1,000; deposit and maintain a $200,000 balance, earn $1,500; deposit and maintain a $300,000 balance, earn $2,000. If your balance falls to a lower tier at any point during the maintenance period, the bonus changes."
---------------------
Back of napkin calc, $500 for $30,000 in 60 days.  Roughly 10% annualized for those 60 days.  Is it worth it?  Hmmm.  Lots of hoop jumping, maybe.

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1203 on: July 12, 2023, 09:54:28 AM »
Moomoo has a transfer bonus now: move $1001 (minimum) assets from a brokerage to moomoo for a $100 bonus. See Doctor Of Credit for more details.
I'm moving $1006 I have in a Fidelity cash management account.
Read the terms carefully, moomoo doesn't charge a fee for an incoming transfer but some brokerages do charge a fee for transferring stock assets out (Fidelity does not).
Also, according to the terms, you can transfer cash, not just stocks, it just has to be from one of the brokerages (I think-the whole moomoo platform is a little opaque to me)

Also, I've received two referral bonuses lately, if it's from anyone here, thank you!

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1204 on: July 12, 2023, 09:01:33 PM »
Moomoo has a transfer bonus now: move $1001 (minimum) assets from a brokerage to moomoo for a $100 bonus. See Doctor Of Credit for more details.
I'm moving $1006 I have in a Fidelity cash management account.
Read the terms carefully, moomoo doesn't charge a fee for an incoming transfer but some brokerages do charge a fee for transferring stock assets out (Fidelity does not).
Also, according to the terms, you can transfer cash, not just stocks, it just has to be from one of the brokerages (I think-the whole moomoo platform is a little opaque to me)

Also, I've received two referral bonuses lately, if it's from anyone here, thank you!

Lucky! Nobody used my referral link. :(

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1205 on: July 12, 2023, 09:45:22 PM »
Moomoo has a transfer bonus now: move $1001 (minimum) assets from a brokerage to moomoo for a $100 bonus. See Doctor Of Credit for more details.
I'm moving $1006 I have in a Fidelity cash management account.
Read the terms carefully, moomoo doesn't charge a fee for an incoming transfer but some brokerages do charge a fee for transferring stock assets out (Fidelity does not).
Also, according to the terms, you can transfer cash, not just stocks, it just has to be from one of the brokerages (I think-the whole moomoo platform is a little opaque to me)

Also, I've received two referral bonuses lately, if it's from anyone here, thank you!

If you do $5000+ it becomes a $350 to $450 deal (depending on whether you get GOOG or TSLA).   I already got the $100 bonus along with $50 referral bonus.  Got the 16 stocks as well.

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1206 on: July 13, 2023, 07:46:29 AM »
Moomoo has a transfer bonus now: move $1001 (minimum) assets from a brokerage to moomoo for a $100 bonus. See Doctor Of Credit for more details.
I'm moving $1006 I have in a Fidelity cash management account.
Read the terms carefully, moomoo doesn't charge a fee for an incoming transfer but some brokerages do charge a fee for transferring stock assets out (Fidelity does not).
Also, according to the terms, you can transfer cash, not just stocks, it just has to be from one of the brokerages (I think-the whole moomoo platform is a little opaque to me)

Also, I've received two referral bonuses lately, if it's from anyone here, thank you!

If you do $5000+ it becomes a $350 to $450 deal (depending on whether you get GOOG or TSLA).   I already got the $100 bonus along with $50 referral bonus.  Got the 16 stocks as well.

No, this is a new one.

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1207 on: July 13, 2023, 07:28:46 PM »
Moomoo has a transfer bonus now: move $1001 (minimum) assets from a brokerage to moomoo for a $100 bonus. See Doctor Of Credit for more details.
I'm moving $1006 I have in a Fidelity cash management account.
Read the terms carefully, moomoo doesn't charge a fee for an incoming transfer but some brokerages do charge a fee for transferring stock assets out (Fidelity does not).
Also, according to the terms, you can transfer cash, not just stocks, it just has to be from one of the brokerages (I think-the whole moomoo platform is a little opaque to me)

Also, I've received two referral bonuses lately, if it's from anyone here, thank you!

If you do $5000+ it becomes a $350 to $450 deal (depending on whether you get GOOG or TSLA).   I already got the $100 bonus along with $50 referral bonus.  Got the 16 stocks as well.
That was the sign up bonus. This is the transfer bonus.

Deposit $1,000 and get $100 bonus
Deposit $50,000 and get $200 bonus
Deposit $200,000 and get $500 bonus

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1208 on: July 13, 2023, 10:06:20 PM »
I transferred $5000 last month and this month I got $100 bonus; $50 referral bonus and I also got the 16 bonus stocks.  If I transfer another $1000 this month can I get another $100?

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1209 on: July 13, 2023, 10:38:16 PM »
I transferred $5000 last month and this month I got $100 bonus; $50 referral bonus and I also got the 16 bonus stocks.  If I transfer another $1000 this month can I get another $100?

If you enroll in the new offer.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1210 on: July 14, 2023, 06:29:06 AM »
@jnw If you are targeted there should be a banner under Accounts -> Assets.  If it doesn't show up you can message them to apply it to your account.  Just know that it supposedly needs to be an ACATS transfer from a brokerage, not ACH from a bank.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1211 on: July 14, 2023, 06:37:18 AM »
@jnw If you are targeted there should be a banner under Accounts -> Assets.  If it doesn't show up you can message them to apply it to your account.  Just know that it supposedly needs to be an ACATS transfer from a brokerage, not ACH from a bank.

I heard if you do an ACATS transfer form Fidelity it's fee free? But you need to leave like $300 or so in the account after the ACATS transfer?  Something about a minimum balance.  I am sending over like $1400 from my Vanguard money market account to Fidelity over the next few days.. and then buy like 10 shares of SGOV and ACATs them to Moomoo.. Hope this works.  I have never transferred stocks before.  I am curious if the cost basis gets sent over when doing ACATS transfers. 

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1212 on: July 14, 2023, 07:27:50 AM »
@jnw If you are targeted there should be a banner under Accounts -> Assets.  If it doesn't show up you can message them to apply it to your account.  Just know that it supposedly needs to be an ACATS transfer from a brokerage, not ACH from a bank.

I heard if you do an ACATS transfer form Fidelity it's fee free? But you need to leave like $300 or so in the account after the ACATS transfer?  Something about a minimum balance.  I am sending over like $1400 from my Vanguard money market account to Fidelity over the next few days.. and then buy like 10 shares of SGOV and ACATs them to Moomoo.. Hope this works.  I have never transferred stocks before.  I am curious if the cost basis gets sent over when doing ACATS transfers.

Fidelity doesn't charge a fee for a partial transfer.

secondcor521

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1213 on: July 14, 2023, 11:19:47 AM »
I am curious if the cost basis gets sent over when doing ACATS transfers.

It should, although the basis info might transfer over separately and later than the shares themselves.

Padonak

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1214 on: July 15, 2023, 11:33:17 AM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1215 on: July 15, 2023, 12:08:46 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.


If you put $15k in a 5% account for 3 months, you would get just under $200, so I' say it's a good offer.


Unfortunately I did the $600 offer earlier in the year or late last year, none of us thought the $900 offer would come back in the current environment.


sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1216 on: July 15, 2023, 02:11:22 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

Padonak

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1217 on: July 15, 2023, 08:14:27 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

How long do you have to wait to qualify for a sign up bonus if you already took a similar offer in the past? I remember that I opened and closed checking and savings accts with chase and got $600 back in 2019

lexde

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1218 on: July 15, 2023, 08:50:17 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

How long do you have to wait to qualify for a sign up bonus if you already took a similar offer in the past? I remember that I opened and closed checking and savings accts with chase and got $600 back in 2019
The fine print of the offer will let you know. Usually 12 months, sometimes longer.

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1219 on: July 15, 2023, 09:53:29 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

How long do you have to wait to qualify for a sign up bonus if you already took a similar offer in the past? I remember that I opened and closed checking and savings accts with chase and got $600 back in 2019
It varies, and I try to make a habit of reading the fine print very carefully for each offer. Sometimes the requirements for an offer change when the offer is renewed, too, so you can't always go by the details as published on the Doctor of Credit site, either. I'm not able to do "real" direct deposits, so I'm at a disadvantage from the start, so I try hard to meet all the requirements.
In the case of this particular offer, at least this last spring, the fine print said two years from the previous "coupon enrollment date" which is the date the bonus "coupon" is applied to your account; so, the day you applied with the promo code successfully added on to your accepted application, or the day you called in and had a promo code applied to your account retroactively.

This is what tripped me up the last time I applied for this checking bonus this last spring. I opened an account previously but was unsuccessful in collecting on the bonus, but since the "coupon", or promo code was added to the account correctly, I have to wait two years from that date. I confirmed the date with CSR at Chase and noted it in my records, so if the bonus is still offered I'll apply for it then.

tj

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1220 on: July 15, 2023, 09:55:49 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

How long do you have to wait to qualify for a sign up bonus if you already took a similar offer in the past? I remember that I opened and closed checking and savings accts with chase and got $600 back in 2019
The fine print of the offer will let you know. Usually 12 months, sometimes longer.

24 months for Chase.

lexde

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1221 on: July 15, 2023, 10:13:09 PM »
Chase sent me a targeted offer: $900 for opening checking and savings accounts, depositing $15K into the savings acct, keeping it for 90 days and sending direct debits to the checking acct. Is it a good offer? Has anyone else received it too? I remember i received a similar one for $600 total back in 2019.
It's a good one. I can't open another Chase account for a bonus until next fall or I would be all over it.

How long do you have to wait to qualify for a sign up bonus if you already took a similar offer in the past? I remember that I opened and closed checking and savings accts with chase and got $600 back in 2019
The fine print of the offer will let you know. Usually 12 months, sometimes longer.

24 months for Chase.
Iíve been out of the churning game for a bit. Thanks for the correction!

halfling

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1222 on: July 19, 2023, 08:12:25 AM »
I made about $1200 in 2021 through churning my down payment savings, but CDs are finally paying enough that it made sense to stop. It's kind of a relief!

Padonak

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1223 on: July 19, 2023, 10:41:14 AM »
I made about $1200 in 2021 through churning my down payment savings, but CDs are finally paying enough that it made sense to stop. It's kind of a relief!

Yes I'm debating between trying to get that $900 bonus from Chase and investing $15k in a CD (which is the amount i'd have to keep in a Chase account to get the bonus). CD offers a much lower rate of return but there's also a lot less work involved.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1224 on: July 19, 2023, 11:15:02 AM »
I made about $1200 in 2021 through churning my down payment savings, but CDs are finally paying enough that it made sense to stop. It's kind of a relief!

Yes I'm debating between trying to get that $900 bonus from Chase and investing $15k in a CD (which is the amount i'd have to keep in a Chase account to get the bonus). CD offers a much lower rate of return but there's also a lot less work involved.

Oh I didn't know you could buy a CD with that $900 for $15k offer. I thought it was limited to savigns account.  I'll keep that in mind for later. Not sure what rate their CD's are but if it is above 4% that'd be great combined with the offer bonus.

Padonak

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1225 on: July 19, 2023, 05:55:29 PM »
I made about $1200 in 2021 through churning my down payment savings, but CDs are finally paying enough that it made sense to stop. It's kind of a relief!

Yes I'm debating between trying to get that $900 bonus from Chase and investing $15k in a CD (which is the amount i'd have to keep in a Chase account to get the bonus). CD offers a much lower rate of return but there's also a lot less work involved.

Oh I didn't know you could buy a CD with that $900 for $15k offer. I thought it was limited to savigns account.  I'll keep that in mind for later. Not sure what rate their CD's are but if it is above 4% that'd be great combined with the offer bonus.

No, not with Chase. Chase has a targeted offer of 900 SUB if you open checking and savings accounts. Investing the same money in CDs (with whoever offers the highest rate) is an alternative. The total earnings on the same amount are lower if you invest in CDS but there's less work to do and less risk because with sign up bonuses, there's always a chance that a direct debit is misclassified or you miss certain steps and become ineligible.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1226 on: July 19, 2023, 07:04:08 PM »
No, not with Chase. Chase has a targeted offer of 900 SUB if you open checking and savings accounts. Investing the same money in CDs (with whoever offers the highest rate) is an alternative. The total earnings on the same amount are lower if you invest in CDS but there's less work to do and less risk because with sign up bonuses, there's always a chance that a direct debit is misclassified or you miss certain steps and become ineligible.

Oh thanks for clarifying, I misread what you posted.  I was tired earlier today lol.

So far I've always gotten my bonuses from Chase.  knock on wood.  Alliant Credit Union on the other hand did NOT keep their word. I did everything correctly and didn't get a dime from them.   Never again as I put them on my blacklist (whcih I keep in my digital journal).

secondcor521

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1227 on: July 19, 2023, 08:35:55 PM »
Alliant Credit Union on the other hand did NOT keep their word. I did everything correctly and didn't get a dime from them.   Never again as I put them on my blacklist (whcih I keep in my digital journal).

You could call and ask them about it.  They should either (a) clarify what step you missed, or (b) give you the bonus because you qualified after all.  One shouldn't have to do so, of course, but it's something worth considering.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1228 on: July 19, 2023, 08:43:20 PM »
@jnw have you tried filing a CFPB complaint?  That can sometimes make a bonus magically appear.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1229 on: July 20, 2023, 01:34:45 AM »
I've called them, and they said I didn't qualify. But I used a sign up link for Alliant Savings that was nation wide.. shared on doctor of credit.  I don't want to deal with them anymore. It's jsut for $100 for the savings.  The checking and cd were questionable, b/c Doctor of Credit said they might not work..  But I spoke with an Alliant  rep 3 days after I created the savings account and asked if I could also do the $100 bonus deals for CD and checking accounts.. and he said I could with FASTPASS.  I used FASTPASS promo code when signing up for those.  I am owed at least $100 but it stresses me out and I have just written them off instead. Blacklisted them in my journal.

I've recently started screen recording all my applications for checking, savings, brokerage and credit card accounts -- using Quicktime Player on my Mac to do so. (For security concerns, I keep the videos on a 256 bit AES encrypted disk image volume with a 32 character random looking password.)  I think they will be handy if I ever need to refer back to them, and can use as evidence.
« Last Edit: July 20, 2023, 01:43:07 AM by jnw »

sonofsven

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1230 on: September 12, 2023, 07:26:30 AM »
There's a really easy Capital One checking account bonus: $350 for (2) direct deposits of $250 minimum.
Lots of data points on what qualifies as a dd; in my case I did two transfers from a Fidelity CMA.
Quick turnaround, too, about two weeks from account opening to bonus.
As always, see Doctor of Credit for details.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1231 on: September 12, 2023, 05:42:50 PM »
There's a really easy Capital One checking account bonus: $350 for (2) direct deposits of $250 minimum.
Lots of data points on what qualifies as a dd; in my case I did two transfers from a Fidelity CMA.
Quick turnaround, too, about two weeks from account opening to bonus.
As always, see Doctor of Credit for details.

Yeah I am about to do that now :)  Thanks for sharing.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1232 on: September 13, 2023, 03:23:57 AM »
Opened the Capital One 360 Checking for the $350.  Going to do the $5000 deposit into M1 Finance for the $100 (friend referral).  I have like $500 left to invest now. Trying to figure out what I can invest it in.  I looked into tradestation, but they don't seem to be offering the $150 sign up bonus right now (for depositing $500).

So lined up for another $450.. would be nice if I could make that $550 :)

EDIT: Oh I just found this. $100 Ally Brokerage Bonus.  https://www.profitablecontent.com/ally-bank-100-brokerage-bonus/
UPDATE 9/13/2023:  RJ just made a video on this as well: https://www.youtube.com/watch?v=IR-5QUbR2u0

EDIT #2: Going to check into TradeStation further, maybe the $150 deal is still on.  Wow if I do all these deals this month that's $350 + $100 + $150 + $100 = $700 :)

EDIT #3:  I have about $20k at work right now with various personal checking, business checking, savings,  along with brokerage investments right now.  With an average APR of near 20% or so.   Seems like I could make around $40k work at all times if everything goes right.. earning 12-20% each year.  So $40k will be my emergency fund / churning investment fund.  Hesitant to pay off home (around $35K left on balance), since I am earning 20% right now with it used elsewhere.  Once I get like $75k or so saved then I'll just pay it off all at once.
« Last Edit: January 05, 2024, 09:43:22 AM by jnw »

Nutty

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1233 on: September 13, 2023, 06:49:04 AM »
EDIT: Oh I just found this. $100 Ally Brokerage Bonus.  https://www.profitablecontent.com/ally-bank-100-brokerage-bonus/
I was rejected for the Ally bank sign up bonus.  Is there a trick to that one?

Will try the Capital One sub.

Michael in ABQ

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1234 on: September 13, 2023, 09:59:25 AM »
There's a really easy Capital One checking account bonus: $350 for (2) direct deposits of $250 minimum.
Lots of data points on what qualifies as a dd; in my case I did two transfers from a Fidelity CMA.
Quick turnaround, too, about two weeks from account opening to bonus.
As always, see Doctor of Credit for details.

I think my wife and I are going to try this in 2-player mode. Since I run the payroll for our business I can easily change our direct deposit to go to two banks and set aside a few hundred dollars go to those accounts for at least two deposits.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1235 on: September 14, 2023, 12:34:09 PM »
Just signed up for M1 Finance bonus using friend referral code.  It's for $100 for locking up $5000 for 30 days.  Will invest in BIL, SGOV or the like while it's there.   It was sitting in Federal Money Market anyways so this deal made sense.

I'll probably keep the M1 Finance account open for the foreseeable future to get any possible referral bonsuses.

This service required the use of Plaid to make the initial deposit.  I sent over $5000 via plaid during the application process.

Anyone else find it annoying they (and other brokerages / bank accounts) require Plaid?  This allows them to get all our transactional history no?  I find that very annoying.  Them seeing how I move my money around.

jim555

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1236 on: September 14, 2023, 01:11:55 PM »
US Senate Credit Union has a $200 bonus on $5,000 certificates @ 5.18% APR for 24 months.  The EWP is 120 days interest to break it.  Quick math looks like 7.18% over the term.  Use Promo Code "SUMMEROFSAVING" to enroll.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1237 on: September 14, 2023, 01:30:57 PM »
US Senate Credit Union has a $200 bonus on $5,000 certificates @ 5.18% APR for 24 months.  The EWP is 120 days interest to break it.  Quick math looks like 7.18% over the term.  Use Promo Code "SUMMEROFSAVING" to enroll.

$200 for $5000 = 4%.  4% tied up for 120 days (4 months) is 1% per month or 12% APR for that 4 months.  Pretty good even if we withdraw after 4 months?  Assuming one can withdraw at 4 months and not lose the bonus. 

I wonder if they do a hard inquiry since they are a credit union.
« Last Edit: September 14, 2023, 01:33:43 PM by jnw »

jim555

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1238 on: September 14, 2023, 01:34:24 PM »
US Senate Credit Union has a $200 bonus on $5,000 certificates @ 5.18% APR for 24 months.  The EWP is 120 days interest to break it.  Quick math looks like 7.18% over the term.  Use Promo Code "SUMMEROFSAVING" to enroll.

$200 for $5000 = 4%.  4% tied up for 120 days (4 months) is 1% per month or 12% annually.  Pretty good even if we withdraw after 4 months?  Assuming one can withdraw at 4 months and not lose the bonus.
Looking at the fine print I see:  "Accounts that do not meet or exceed daily balance requirements for 186 consecutive calendar days beginning on the first day of account funding will not qualify. "

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1239 on: September 14, 2023, 02:56:43 PM »
US Senate Credit Union has a $200 bonus on $5,000 certificates @ 5.18% APR for 24 months.  The EWP is 120 days interest to break it.  Quick math looks like 7.18% over the term.  Use Promo Code "SUMMEROFSAVING" to enroll.

$200 for $5000 = 4%.  4% tied up for 120 days (4 months) is 1% per month or 12% annually.  Pretty good even if we withdraw after 4 months?  Assuming one can withdraw at 4 months and not lose the bonus.
Looking at the fine print I see:  "Accounts that do not meet or exceed daily balance requirements for 186 consecutive calendar days beginning on the first day of account funding will not qualify. "

I am calculating around a 9.07% APR for the $5000 invested 7 months.  Did I calculate it right? Not bad.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1240 on: September 15, 2023, 06:02:00 AM »
A very easy bonus is Midland States bank (can be opened online in all states except: CA; FL; KS; KY; LA; NJ; NY; OH; OR; PA; TX).  You can open until 9/30.

They pay $150 for a $1500 direct deposit, $70 for 20 debit transactions, and $30 for signing up for e-statements.

I did a $1505 transfer from Fidelity, did 20 Amazon reloads of $0.50-0.55 each, and signed up for e-statements, and had all of the bonuses paid out within a week.  Apparently you can also transfer from Discover, Ally, Chase, or Sofi and it will count as a direct deposit.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1241 on: September 15, 2023, 04:25:23 PM »
A very easy bonus is Midland States bank (can be opened online in all states except: CA; FL; KS; KY; LA; NJ; NY; OH; OR; PA; TX).  You can open until 9/30.

They pay $150 for a $1500 direct deposit, $70 for 20 debit transactions, and $30 for signing up for e-statements.

I did a $1505 transfer from Fidelity, did 20 Amazon reloads of $0.50-0.55 each, and signed up for e-statements, and had all of the bonuses paid out within a week.  Apparently you can also transfer from Discover, Ally, Chase, or Sofi and it will count as a direct deposit.

Thanks for sharing this. Gonna try it.  Good deal :)

Before I think you had to enter in a promo code?  Do you have to do the same now?  Or just use the following link and it will add it automatically?  https://www.midlandsb.com/check250 .   Watching an old Run on the Bank video on youtube and he said to use "CHECK250" as promo code, but I see that is in the url to the offer already.
« Last Edit: September 15, 2023, 04:34:18 PM by jnw »

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1242 on: September 16, 2023, 07:02:13 AM »
@jnw I believe it auto-populated the code during my application, but I'm not 100% sure.  If you see a promo code line, just make sure it is entered.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1243 on: September 19, 2023, 08:14:28 AM »
This BMO Harris Business Checking $400 bonus looks promising:  ($400 for $4000 deposit for 120 days).  10% return in 1/3rd of a year.  So effectively like a 30% APR?
https://www.profitablecontent.com/bmo-harris-1600-business-checking-money-market-bonus/

EDIT: I really like the above Profitable Content blog.  It allows you to go to your home state and see what all is available to you -- both state and national level deals from your home state landing page.  I have my state's landing page as my bookmark.  That's where I found this BMO deal today.  It's run by the same guy, RJ, with "RJ Financial" and "Run on the Bank" youtube channels -- both of which I am also subscribed to.
« Last Edit: September 19, 2023, 08:46:49 AM by jnw »

AnotherEngineer

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1244 on: September 19, 2023, 12:03:26 PM »
This BMO Harris Business Checking $400 bonus looks promising:  ($400 for $4000 deposit for 120 days).  10% return in 1/3rd of a year.  So effectively like a 30% APR?
https://www.profitablecontent.com/bmo-harris-1600-business-checking-money-market-bonus/

EDIT: I really like the above Profitable Content blog.  It allows you to go to your home state and see what all is available to you -- both state and national level deals from your home state landing page.  I have my state's landing page as my bookmark.  That's where I found this BMO deal today.  It's run by the same guy, RJ, with "RJ Financial" and "Run on the Bank" youtube channels -- both of which I am also subscribed to.

Thanks for the tip! I had run out of bank bonuses on Doctor of Credit, at least ones $300+. The Profitable Content site had three compelling recent one (including BMO Harris) that hadn't made it to DoC yet.

kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1245 on: September 19, 2023, 12:41:43 PM »
I just signed up for the $400 BMO personal checking.  I think this is my 4th time opening this account.  I may have to look into the business checking though, seems like a good place to park some cash for a bit.

jnw

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1246 on: September 19, 2023, 01:50:10 PM »
This BMO Harris Business Checking $400 bonus looks promising:  ($400 for $4000 deposit for 120 days).  10% return in 1/3rd of a year.  So effectively like a 30% APR?
https://www.profitablecontent.com/bmo-harris-1600-business-checking-money-market-bonus/

EDIT: I really like the above Profitable Content blog.  It allows you to go to your home state and see what all is available to you -- both state and national level deals from your home state landing page.  I have my state's landing page as my bookmark.  That's where I found this BMO deal today.  It's run by the same guy, RJ, with "RJ Financial" and "Run on the Bank" youtube channels -- both of which I am also subscribed to.

Thanks for the tip! I had run out of bank bonuses on Doctor of Credit, at least ones $300+. The Profitable Content site had three compelling recent one (including BMO Harris) that hadn't made it to DoC yet.
It looks like BMO made it to DoC today like an hour after I originally posted about BMO here.  Profitable Content says it is a business checking offer, but I think DoC is saying it is a personal checking offer?   Maybe they are offering both at at same time? I am not sure. I have to look into this more. 
« Last Edit: September 20, 2023, 06:51:56 AM by jnw »

MasterStache

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1247 on: September 20, 2023, 04:45:54 AM »
This BMO Harris Business Checking $400 bonus looks promising:  ($400 for $4000 deposit for 120 days).  10% return in 1/3rd of a year.  So effectively like a 30% APR?
https://www.profitablecontent.com/bmo-harris-1600-business-checking-money-market-bonus/

EDIT: I really like the above Profitable Content blog.  It allows you to go to your home state and see what all is available to you -- both state and national level deals from your home state landing page.  I have my state's landing page as my bookmark.  That's where I found this BMO deal today.  It's run by the same guy, RJ, with "RJ Financial" and "Run on the Bank" youtube channels -- both of which I am also subscribed to.

Thanks for the tip! I had run out of bank bonuses on Doctor of Credit, at least ones $300+. The Profitable Content site had three compelling recent one (including BMO Harris) that hadn't made it to DoC yet.

BMO has a personal and biz offer going on. I know the personal offer was posted a few months ago on DoC and then just reposted a couple days ago due to it being extended. I gambled and held off on applying to see what counted as DD. I opened accounts for myself and P2 about a month ago. 

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1248 on: September 21, 2023, 10:49:43 PM »
I canceled my US Bank Altitude Connect in Aug. last year, am I eligible for the bonus again if I open it again?


kpd905

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Re: Bank account churning: how to make $1600 in a year by being organized
« Reply #1249 on: September 22, 2023, 05:35:41 AM »
I canceled my US Bank Altitude Connect in Aug. last year, am I eligible for the bonus again if I open it again?

This is a line from the sign up page: The bonus is not available to Cardmembers who currently have, or had, a U.S. Bank Altitude Connect Visa Signature account.

I am pretty sure you could grab the business version of the Altitude Connect.  That or the Triple Cash ($500 bonus) or Business Leverage ($750 bonus).  Otherwise grab a Chase card if you are under 5/24.


 

Wow, a phone plan for fifteen bucks!