Bank account churning: how to make $1600 in a year by being organized

[Rusted Rose]

Otherwise grab a Chase card if you are under 5/24.

(Or grab one after you suddenly become 6/24 and then go, "Oh, right, until those post, I still *look* like I'm 4/24!" 😆)

(So, eh, I'll be 7/24 until December :P)

(Sorry for completely gratuitous post)

[jnw]

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.

Question for ya.  I just signed up and am about to do a EFT "DD" deposit with Fidelity Cash Management account, of an amount greater than $1500.   When I go to link the Midland account to Fidelity it asks me if it is "for you" or for "someone else".  I pick "for you".  And at the end of the process it is asking for my login credentials to Midland -- after I had already typed in the routing number and account number.  I didn't give them the login credentials and halted the account linking process.  I just want it to be the standard microdeposits.. no logins.  A login to me would make it seem as though it would NOT count as a DD.   So am I doing something wrong or should I just transfer this $1500+ to Chase Total Checking and do it from there?

EDIT: I just linked my Chase Total Checking to Fidelity via Fidelity user interface, and it worked fine.  I gave the routing and account numbers and it linked.  It did not ask me for login credentials to Chase.  I wonder why it was asking for login credentials to Midland.  I did not select Plaid, and again typed in the account & routing numbers when it asked me.   (I linked the Chase account to Fidelity for a quick transfer from Fidelity to Chase .. I got a few different accounts currently as you probably figure :)

[billy]

Your not doing anything wrong, some banks only offer Plaid or Yodlee.

[jnw]

Your not doing anything wrong, some banks only offer Plaid or Yodlee.

Did you use Fidelity for this deal as well and got the bank bonus? You gave Fidelity your Midland States Bank login credentials, logged in and linked it.. and did the transfer and it still counted as a DD?  So lenient :)

[tj]

Your not doing anything wrong, some banks only offer Plaid or Yodlee.

Did you use Fidelity for this deal as well and got the bank bonus? You gave Fidelity your Midland States Bank login credentials, logged in and linked it.. and did the transfer and it still counted as a DD?  So lenient :)

I've done Plaid links and it's been a DD every time.

[tj]

Question for you all. My goal was to receive $5000 in a single year between credit card, personal checking, business checking, brokerage and savings account churns.  I'm lined up achieve that within the next couple months with existing churns I have going, with no extra work.  Altogether it will have been 9 months of churns.

Should I stop and take a break for 3 months and then next year just go for another $5000.  Or should I keep going to say $7500 per year? 

I am just wondering if I need to take a break to allow Chexsystem etc.. to settle down.  Is $7500 per year pushing it?  About $800 of that $5000 i have done this year, is in credit card churns, so really just $4200 or so in bank account churns this year.

I am new to this as of this year.  I've churned:
* 3 credit card accounts (for the $800)
* 8 personal checking accounts (bofa, alliant, chase, wings financial, chime, umb, midland states bank)
* 2 business checking accounts (chase, us bank)
* 5 brokerage accounts (groundfloor, plynk, axos, moomoo, m1 finance)

I've had zero denials to any applications for any time of account, credit or bank.  I have no idea what is on Chexsystems, etc. now.

You'll get denied eventually. I doubt "taking a break for 3 months" will make a difference.  Most of these banks have restrictions greater than once every 12 months.

[jnw]

The following looks like an easy $150 (for $500) deal from the brokerage TradeStation:

https://www.tradestation.com/promo/jbravo/

DoC link: https://www.doctorofcredit.com/tradestation-deposit-500-earn-150-bonus/#The_Offer

Gonna attempt it soon.  (I can't seem to stop -- addicted to bank account churning lol.)

[kpd905]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

[Michael in ABQ]

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.

I had to call in to verify my information (all the same info I provided in my online application) but it only took about 5 minutes on the phone with a rep to get it approved (on top of 10-15 minute hold time).

[jnw]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Out of curiosity, do you have any rules to say where you keep all checking accounts open for 6 months or say 12 months?  Or do you close them as soon as possible in say less than 3 months (if there is no termination fee or clawback). 

Also, if you don't mind, what is your minimum bonus threshhold for the past 200 accounts?  $100? $150? $200?   Just wondering if the $100 ones are a total waste of time and do more damage than good?

[tj]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Chex is only relevant for bank/credit union accounts. When you say 200+ accounts, are you referring to only deposit accounts? How do you find that many?

I'm pretty on top of this, but your numbers put me to shame.

I was getting denied due to Chex and I also have stopped getting approved for new CCs because I have "too much available credit".

[Morning Glory]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Chex is only relevant for bank/credit union accounts. When you say 200+ accounts, are you referring to only deposit accounts? How do you find that many?

I'm pretty on top of this, but your numbers put me to shame.

I was getting denied due to Chex and I also have stopped getting approved for new CCs because I have "too much available credit".

12.5/person/year is a lot but seems doable if P2 is actively involved and you both have real dds from your jobs. I've only been doing the easy bank ones (axos, plynk, acorns) this year since we have little payroll income and our mortgage rate is 7.5% so I've been prepaying it when I get extra cash.

You can either close a few ccs that you don't use or call and ask them to lower your credit limit. I find it odd that some cards get approved for a 20k limit and others for 2k even though I put the same numbers for income etc. I should net ~2500 in cc bonuses this year, mostly from having to replace the hvac.

[tj]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Chex is only relevant for bank/credit union accounts. When you say 200+ accounts, are you referring to only deposit accounts? How do you find that many?

I'm pretty on top of this, but your numbers put me to shame.

I was getting denied due to Chex and I also have stopped getting approved for new CCs because I have "too much available credit".

12.5/person/year is a lot but seems doable if P2 is actively involved and you both have real dds from your jobs. I've only been doing the easy bank ones (axos, plynk, acorns) this year since we have little payroll income and our mortgage rate is 7.5% so I've been prepaying it when I get extra cash.

You can either close a few ccs that you don't use or call and ask them to lower your credit limit. I find it odd that some cards get approved for a 20k limit and others for 2k even though I put the same numbers for income etc. I should net ~2500 in cc bonuses this year, mostly from having to replace the hvac.

I haven't had an issue in having "fake DDs" trigger the direct deposits. It is easy for me to change my direct deposits through work, but it's easier to just move $$$ around with transfers. I'm not sure if I get $6k per year even if I include brokerage and credit card bonuses, but $6k on bank bonuses alone seems impressive.

[sonofsven]

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.

I had to call in to verify my information (all the same info I provided in my online application) but it only took about 5 minutes on the phone with a rep to get it approved (on top of 10-15 minute hold time).

That's great, it was a really quick bonus for me.

[Michael in ABQ]

I tried to do an Axos Bank Business Checking account bonus several months ago ($200 for $2,500 deposit requirement). Looks like I didn't get it since I had trouble getting logged in and didn't make a second deposit to get it over $2,500 until after the two months had passed - or I added it too late to maintain an average daily balance over $2,500. Frankly the process of opening the accounts was a huge hassle and their website/IT was terrible. I couldn't reset my password and had to call in. I'm just closing it now after having probably spent 3-4 hours collectively on getting it opened and then getting access again.

[jnw]

I tried to do an Axos Bank Business Checking account bonus several months ago ($200 for $2,500 deposit requirement). Looks like I didn't get it since I had trouble getting logged in and didn't make a second deposit to get it over $2,500 until after the two months had passed - or I added it too late to maintain an average daily balance over $2,500. Frankly the process of opening the accounts was a huge hassle and their website/IT was terrible. I couldn't reset my password and had to call in. I'm just closing it now after having probably spent 3-4 hours collectively on getting it opened and then getting access again.

Yeah the Axos web site for my self directed brokerage account is atrocious. And I have noticed their support isn't that great.  But I did get my $250 sign up bonus for self directed brokerage. That sucks you didn't get it.

[sonofsven]

I tried to do an Axos Bank Business Checking account bonus several months ago ($200 for $2,500 deposit requirement). Looks like I didn't get it since I had trouble getting logged in and didn't make a second deposit to get it over $2,500 until after the two months had passed - or I added it too late to maintain an average daily balance over $2,500. Frankly the process of opening the accounts was a huge hassle and their website/IT was terrible. I couldn't reset my password and had to call in. I'm just closing it now after having probably spent 3-4 hours collectively on getting it opened and then getting access again.

Yeah the Axos web site for my self directed brokerage account is atrocious. And I have noticed their support isn't that great.  But I did get my $250 sign up bonus for self directed brokerage. That sucks you didn't get it.

I also got the brokerage bonus but not the checking bonus, they pulled some bs. I opened the checking again but just for the swagbucks or mypoints bonus, I didn't even try for the checking bonus.
I closed it soon after. Axos is a real f'ed bank.

 jnw, I had to slow down on my cc bonuses for around 6 months as I wasn't getting approvals. I'm still not getting Chase approvals, but I just got two US Bank cc's, both business cards.
I did a number of smaller card bonuses last fall and winter and it took a while to get sorted out. The cards are a $500 on $4500 spend and a $750 on $7500 spend (I have some medical expenses coming up, unfortunately).

[billy]

Ya, I usta have axos checking, it was crummy as well. I also had to stop with the CC game for 6 month, but I'm back! I learned the hard way just go for the higher bonuses.

[kpd905]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Out of curiosity, do you have any rules to say where you keep all checking accounts open for 6 months or say 12 months?  Or do you close them as soon as possible in say less than 3 months (if there is no termination fee or clawback). 

Also, if you don't mind, what is your minimum bonus threshhold for the past 200 accounts?  $100? $150? $200?   Just wondering if the $100 ones are a total waste of time and do more damage than good?

I try not to go after too many $100 accounts, but some of them have had referral offers, which can make it worth it to me when signing up P2 and maybe some others.  As for how long to keep accounts open, I try to close them as soon as I can, checking to make sure there are no rules about clawing back a bonus or paying an early account termination fee.  That way you start the clock and end up able to get that bonus again sooner.  For example, we have now gotten 10 PNC bonuses since starting this hobby.

@tj as far as finding the bonuses, I just check Doctor of Credit everyday and sign up for every bonus I'm eligible for.  For DD's, we both have payroll DD that can easily be changed online, and split into multiple accounts.  I've also used ACH transfers from Fidelity to hit many direct deposit requirements (PNC, Midland States, US Bank)

[jnw]

I am now at 4/24 in the 5/24 rule.  Also at 5, 3, 5 on the hard inquiries (transunion, equifax and experian respectively).

Should I now try for a Chase Business Credit card?   It won't count against me and I'll still be at 4/24?   I understand the hard inquiries will increase, but least they are currently all under 6.

Then after my hard inquiries cool down again ( a few more months), I can apply for the Chase Sapphire Preferred when they offer the $800 bonus again.   (Then subsequently convert that to a Chase Freedom Flex card.. love rotating category cards.)

(I decided I am not going to do any selling of tradelines b/c of all the potential problems.  So just going for sign up bonuses as well as decent reward cards for when I can't churn cc's.)

Seems as though you can only do like 2 or 3 cards per year due to the hard inquires and 5/24 rule, no?   I am only going to be able to do two more cards until 4/2025.

[jnw]

I try not to go after too many $100 accounts, but some of them have had referral offers, which can make it worth it to me when signing up P2 and maybe some others.  As for how long to keep accounts open, I try to close them as soon as I can, checking to make sure there are no rules about clawing back a bonus or paying an early account termination fee.  That way you start the clock and end up able to get that bonus again sooner.  For example, we have now gotten 10 PNC bonuses since starting this hobby.

Sweet, I have yet to do the PNC bonus, I need to get on that.  So you are perfectly content with all the $200 sign up bonuses? I have so many I haven't signed up for yet.

[kpd905]

Yeah, I'd jump on all the $200 ones you can find.  It's plenty of money for what is maybe an hour of work total.

The Ink cards have a 90,000 bonus right now if you can meet the spend.  Otherwise I did the US Bank Business Altitude Connect card which gives $600 after $6000 spend in 180 days.

[tj]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Out of curiosity, do you have any rules to say where you keep all checking accounts open for 6 months or say 12 months?  Or do you close them as soon as possible in say less than 3 months (if there is no termination fee or clawback). 

Also, if you don't mind, what is your minimum bonus threshhold for the past 200 accounts?  $100? $150? $200?   Just wondering if the $100 ones are a total waste of time and do more damage than good?

I try not to go after too many $100 accounts, but some of them have had referral offers, which can make it worth it to me when signing up P2 and maybe some others.  As for how long to keep accounts open, I try to close them as soon as I can, checking to make sure there are no rules about clawing back a bonus or paying an early account termination fee.  That way you start the clock and end up able to get that bonus again sooner.  For example, we have now gotten 10 PNC bonuses since starting this hobby.

@tj as far as finding the bonuses, I just check Doctor of Credit everyday and sign up for every bonus I'm eligible for.  For DD's, we both have payroll DD that can easily be changed online, and split into multiple accounts.  I've also used ACH transfers from Fidelity to hit many direct deposit requirements (PNC, Midland States, US Bank)

Do you ever sign up for accounts where DoC specifies it's only for certain states and you don't live in them just to see if it will work?

[tj]

It appears that either a CapitalOne bank or credit card account has paid off in unexpected ways:


Today I received the following:

According to our records, you are eligible to receive a payment of $671.95 in the settlement for the matter entitled In re: Capital One Inc. Customer Data Security Breach Litigation, MDL No. 1:19-md-2915.

As the Administrator for the matter, we’re sending you this courtesy email to inform you that by September 28, 2023, you will receive a payment notification email that contains a link to claim your payment electronically. Once you receive that email, you will have until November 27, 2023, to claim your payment.

[billy]

Has anyone recently been able to cancel US Bank CC via secured message?

[kpd905]

Do you ever sign up for accounts where DoC specifies it's only for certain states and you don't live in them just to see if it will work?

Only when other people have posted data points that it worked for them.  So far, I have not been the guinea pig.

I may actually grab this one: https://www.doctorofcredit.com/va-only-united-states-senate-federal-credit-union-200-checking-bonus/

Says Virginia only, but actually available nationwide if you join The American Consumer Council (free to join online).  A $200 bonus for two $250+ direct deposits and 5 debits.  Not great, but easy enough that I'll probably grab it.

Also, I just noticed some data points saying that an ACH transfer from Schwab or Fidelity works as a "direct deposit" for Upgrade checking.  I have the link in my signature, only $150 bonus, but very easy.  The offer is available until October 31st.

It seems like Fidelity is a great hub account to spoof direct deposits.  If you don't already have a Cash Management account with Fidelity, you can get $100 to open one: https://www.fidelity.com/go/starter-pack
After you open the main account you can get another $130 to open the Fidelity Bloom account, details here: https://www.doctorofcredit.com/fidelity-bloom-app-136-signup-bonus/

[AnotherEngineer]

I wouldn't stop just for Chexsystems purposes.  I have only been denied a few times due to Chex, after opening 200+ accounts (2 player mode) in the last 8 years.  So far I've made $108,000 from banks and credit cards since 2016, and I don't plan on stopping.

Out of curiosity, do you have any rules to say where you keep all checking accounts open for 6 months or say 12 months?  Or do you close them as soon as possible in say less than 3 months (if there is no termination fee or clawback). 

Also, if you don't mind, what is your minimum bonus threshhold for the past 200 accounts?  $100? $150? $200?   Just wondering if the $100 ones are a total waste of time and do more damage than good?

I try not to go after too many $100 accounts, but some of them have had referral offers, which can make it worth it to me when signing up P2 and maybe some others.  As for how long to keep accounts open, I try to close them as soon as I can, checking to make sure there are no rules about clawing back a bonus or paying an early account termination fee.  That way you start the clock and end up able to get that bonus again sooner.  For example, we have now gotten 10 PNC bonuses since starting this hobby.

@tj as far as finding the bonuses, I just check Doctor of Credit everyday and sign up for every bonus I'm eligible for.  For DD's, we both have payroll DD that can easily be changed online, and split into multiple accounts.  I've also used ACH transfers from Fidelity to hit many direct deposit requirements (PNC, Midland States, US Bank)

Do you ever sign up for accounts where DoC specifies it's only for certain states and you don't live in them just to see if it will work?

I just did accidentally and it didn't work. The bank error said "could not verify identity" not "you are outside the bank area" so I tried again several times. The BMO bonus on Profitable Content (my first tip there) said nationwide when it was not (DoC got it right).

[Rusted Rose]

It seems like Fidelity is a great hub account to spoof direct deposits.  If you don't already have a Cash Management account with Fidelity, you can get $100 to open one: https://www.fidelity.com/go/starter-pack

Not only that, but if another offer comes up, you can have 2 CMAs with them and get bonuses for each. (At least that has been the case. I got a $100 and then a $150.)

Thanks for the tips on Bloom, an app I can nuke after signup.

[jnw]

This looks interesting:  BluPeak Credit Union  $400 in bonuses.  $1500 credit card funding. Nationwide allegedly.  Allegedly not chex sensitive.
https://www.youtube.com/watch?v=Q2TuInExldM

[tj]

This looks interesting:  BluPeak Credit Union  $400 in bonuses.  $1500 credit card funding. Nationwide allegedly.  Allegedly not chex sensitive.
https://www.youtube.com/watch?v=Q2TuInExldM

Weird. DoC said CA only.

[kpd905]

This looks interesting:  BluPeak Credit Union  $400 in bonuses.  $1500 credit card funding. Nationwide allegedly.  Allegedly not chex sensitive.
https://www.youtube.com/watch?v=Q2TuInExldM

Weird. DoC said CA only.

Per a comment on DoC, "This is a NATIONWIDE offer when you donate $5.00 to KPBS."

I am going to open an account tomorrow.

It looks similar to United States Senate Federal Credit Union, which I signed up for last week.  That one pays $200 if you do five $5+ debits and have two $250+ direct deposits.  Available nationwide if you join the American Consumer Council (free).

https://www.doctorofcredit.com/va-only-united-states-senate-federal-credit-union-200-checking-bonus/

[tj]

This looks interesting:  BluPeak Credit Union  $400 in bonuses.  $1500 credit card funding. Nationwide allegedly.  Allegedly not chex sensitive.
https://www.youtube.com/watch?v=Q2TuInExldM

Weird. DoC said CA only.

Per a comment on DoC, "This is a NATIONWIDE offer when you donate $5.00 to KPBS."

I am going to open an account tomorrow.

It looks similar to United States Senate Federal Credit Union, which I signed up for last week.  That one pays $200 if you do five $5+ debits and have two $250+ direct deposits.  Available nationwide if you join the American Consumer Council (free).

https://www.doctorofcredit.com/va-only-united-states-senate-federal-credit-union-200-checking-bonus/

USS FCU rejected me for Chex a few months back. I got instantly approved by BluPeak.

[jnw]

Yeah in the video I linked above, John talks about using KPBS to get in Nationwide.   He said to select it from list but didn't go into any other details about it.  Not sure where to donate the $5 in the application process -- the video didn't seem to cover that.

I haven't applied yet.  But glad TJ here already got approved :)   I'll be applying soon then.   Did you do any cc funding?  I have a couple  more thousand to spend on this credit card I am currently churning.

EDIT: Just want to add if you watch the video I linked all the instructions are quite different than what DioC lays out.  It's for $400 not $300, using referral.  Different requirements.  Different promo code: "Purpose".

[tj]

Yeah in the video I linked above, John talks about using KPBS to get in Nationwide.   He said to select it from list but didn't go into any other details about it.  Not sure where to donate the $5 in the application process -- the video didn't seem to cover that.

I haven't applied yet.  But glad TJ here already got approved :)   I'll be applying soon then.   Did you do any cc funding?  I have a couple  more thousand to spend on this credit card I am currently churning.

EDIT: Just want to add if you watch the video I linked all the instructions are quite different than what DioC lays out.  It's for $400 not $300, using referral.  Different requirements.  Different promo code: "Purpose".

The Purpose promo code is for the $300, not $400. It allows $1500 in credit card, so I did that. Allegedly you can do 3 applications in a row for checking, savings, and a  CD to get $4500 in credit card funding.  You can't stack the $300 Purpose with the $100 referral. I am not currently working on a sign up bonus, so I put the minimum $25 in the checking account and opened the 5.33% savings account for $1470 on same application (the CU also charges a $5 fee).

You donate to KPBS at kpbs.org. It's not part of the application process with the credit union. Choose a one-time donation and pick your own amount of $5. They didn't ask me for proof, but seems cheap to not follow through with the donation.

[jnw]

Yeah in the video I linked above, John talks about using KPBS to get in Nationwide.   He said to select it from list but didn't go into any other details about it.  Not sure where to donate the $5 in the application process -- the video didn't seem to cover that.

I haven't applied yet.  But glad TJ here already got approved :)   I'll be applying soon then.   Did you do any cc funding?  I have a couple  more thousand to spend on this credit card I am currently churning.

EDIT: Just want to add if you watch the video I linked all the instructions are quite different than what DioC lays out.  It's for $400 not $300, using referral.  Different requirements.  Different promo code: "Purpose".

The Purpose promo code is for the $300, not $400. It allows $1500 in credit card, so I did that. Allegedly you can do 3 applications in a row for checking, savings, and a  CD to get $4500 in credit card funding.  You can't stack the $300 Purpose with the $100 referral. I am currently working on a sign up bonus, so I put the minimum $25 in the checking account and opened the 5.33% savings account for $1470 on same application (the CU also charges a $5 fee).

You donate to KPBS at kpbs.org. It's not part of the application process with the credit union. Choose a one-time donation and pick your own amount of $5. They didn't ask me for proof, but seems cheap to not follow through with the donation.

I read the referral stacks

[tj]

Yeah in the video I linked above, John talks about using KPBS to get in Nationwide.   He said to select it from list but didn't go into any other details about it.  Not sure where to donate the $5 in the application process -- the video didn't seem to cover that.

I haven't applied yet.  But glad TJ here already got approved :)   I'll be applying soon then.   Did you do any cc funding?  I have a couple  more thousand to spend on this credit card I am currently churning.

EDIT: Just want to add if you watch the video I linked all the instructions are quite different than what DioC lays out.  It's for $400 not $300, using referral.  Different requirements.  Different promo code: "Purpose".

The Purpose promo code is for the $300, not $400. It allows $1500 in credit card, so I did that. Allegedly you can do 3 applications in a row for checking, savings, and a  CD to get $4500 in credit card funding.  You can't stack the $300 Purpose with the $100 referral. I am currently working on a sign up bonus, so I put the minimum $25 in the checking account and opened the 5.33% savings account for $1470 on same application (the CU also charges a $5 fee).

You donate to KPBS at kpbs.org. It's not part of the application process with the credit union. Choose a one-time donation and pick your own amount of $5. They didn't ask me for proof, but seems cheap to not follow through with the donation.

I read the referral stacks

The T&C of the referral is that it does not stack. Nobody knows what will happen. I didn't bother.

[kpd905]

I was approved for Blupeak, which means they are definitely not Chex sensitive.  I skipped the referral thing after reading that it conflicted with the terms.  $300 is fine for me.

I am still waiting for them to send me my member number so I can get into online banking.  They will apparently send it in a secure email.

[tj]

I was approved for Blupeak, which means they are definitely not Chex sensitive.  I skipped the referral thing after reading that it conflicted with the terms.  $300 is fine for me.

I am still waiting for them to send me my member number so I can get into online banking.  They will apparently send it in a secure email.

There was a way to create the online banking right after you were instantly approved. No secure email for me

[kpd905]

I see, must have been because mine went pending for about 15 minutes until they approved me.

[jnw]

Heads up Capital One 360 Checking deal expires tomorrow, pushed up from January 2024.  Gonna help my BF sign up for the bonus today.  $350.

[jnw]

Looks like some are successfully applying OOS for Ameris Bank $300 deal -- see DoC comments below.
https://www.doctorofcredit.com/al-fl-ga-md-nc-sc-tn-va-ameris-bank-300-checking-bonus/

[Rusted Rose]

For those of us who were approved for BluPeak later than instantly, how did you fund? I can't see any way to add external accounts other than what I suspect is the trend toward having you give them your other institution's login details. (Which, whose brilliant idea was that??)

[jnw]

For those of us who were approved for BluPeak later than instantly, how did you fund? I can't see any way to add external accounts other than what I suspect is the trend toward having you give them your other institution's login details. (Which, whose brilliant idea was that??)

I funded with $1500 from Chase Ink Business Cash; counted as purchase and helped meet my $6k spend requirement on the recently acquired card.  $900 sign up bonus on this chase card; also I used kpd's referral code and am splitting the referral bonus .. so another $150 there.

[Rusted Rose]

For those of us who were approved for BluPeak later than instantly, how did you fund? I can't see any way to add external accounts other than what I suspect is the trend toward having you give them your other institution's login details. (Which, whose brilliant idea was that??)

I funded with $1500 from Chase Ink Business Cash; counted as purchase and helped meet my $6k spend requirement on the recently acquired card.  $900 sign up bonus on this chase card; also I used kpd's referral code and am splitting the referral bonus .. so another $150 there.

Cool enough, but *how* were you able to do that? Did you literally set up a payment to yourself from your card?

I don't think I've ever done credit card funding except where it was clear where to click and such. I don't see anything on their portal where I could do that.

[jnw]

OH I am sorry, I was approved instantly. It was an option on the page to fund with credit card.

[MasterStache]

For those of us who were approved for BluPeak later than instantly, how did you fund? I can't see any way to add external accounts other than what I suspect is the trend toward having you give them your other institution's login details. (Which, whose brilliant idea was that??)

I funded with $1500 from Chase Ink Business Cash; counted as purchase and helped meet my $6k spend requirement on the recently acquired card.  $900 sign up bonus on this chase card; also I used kpd's referral code and am splitting the referral bonus .. so another $150 there.

I'm in the same boat. Was waiting for my new CIU card to arrive before I applied. Looks like they changed the terms for the bonus now. Just glad they didn't take away CC funding.

I also opened a savings and CD for another $3K in funding. Those are currently pending.

[MinouMinou]

Do you ever sign up for accounts where DoC specifies it's only for certain states and you don't live in them just to see if it will work?

Only when other people have posted data points that it worked for them.  So far, I have not been the guinea pig.

I may actually grab this one: https://www.doctorofcredit.com/va-only-united-states-senate-federal-credit-union-200-checking-bonus/

Says Virginia only, but actually available nationwide if you join The American Consumer Council (free to join online).  A $200 bonus for two $250+ direct deposits and 5 debits.  Not great, but easy enough that I'll probably grab it.

Also, I just noticed some data points saying that an ACH transfer from Schwab or Fidelity works as a "direct deposit" for Upgrade checking.  I have the link in my signature, only $150 bonus, but very easy.  The offer is available until October 31st.

It seems like Fidelity is a great hub account to spoof direct deposits.  If you don't already have a Cash Management account with Fidelity, you can get $100 to open one: https://www.fidelity.com/go/starter-pack
After you open the main account you can get another $130 to open the Fidelity Bloom account, details here: https://www.doctorofcredit.com/fidelity-bloom-app-136-signup-bonus/

My phone’s OS is too old to get the Fidelity Bloom app. Does anyone think it would work to install on a family member’s phone? Or would it have to be my number on file?

[jnw]

For those of you who earn referral bonuses, which NAIC code do you use on your Schedule C for this? How would this business be classified?

I have a separate sole proprietorship where I use a different NAIC code on the Schedule C for that business.  It's for flipping used items on ebay and facebook marketplace.  "Used Merchandise Store".

Is it okay to throw the few referrals I got into my "Used Merchandise Store" and have it share the same Schedule C?

Or should I file this income on a separate Schedule C with different NAIC code?

[tj]

For those of you who earn referral bonuses, which NAIC code do you use on your Schedule C for this? How would this business be classified?

I have a separate sole proprietorship where I use a different NAIC code on the Schedule C for that business.  It's for flipping used items on ebay and facebook marketplace.  "Used Merchandise Store".

Is it okay to throw the few referrals I got into my "Used Merchandise Store" and have it share the same Schedule C?

Or should I file this income on a separate Schedule C with different NAIC code?

I never bothered to file a Schedule C for "referral bonuses".  I just put it as Other Income on the 1040. I never heard anything from teh IRS.

If you're deciding this is a business operation, you'll owe self employment taxes on that income.

[secondcor521]

For those of you who earn referral bonuses, which NAIC code do you use on your Schedule C for this? How would this business be classified?

I have a separate sole proprietorship where I use a different NAIC code on the Schedule C for that business.  It's for flipping used items on ebay and facebook marketplace.  "Used Merchandise Store".

Is it okay to throw the few referrals I got into my "Used Merchandise Store" and have it share the same Schedule C?

Or should I file this income on a separate Schedule C with different NAIC code?

I would recommend filing two separate Schedule C's.  Any tax software should be able to handle it.  It makes it clearer and cleaner for everyone.

For my piggybacking bonuses, which are similar, I use 523900 "Other financial".