Checking Account Bonus Offers

[StormRichards]

This thread is for those interested in taking advantage of bonus offers for opening checking accounts. Please list details of the offer and an expiration if known.

This idea was previously discussed in the following thread.

http://www.savingadvice.com/forums/general-discussion/84906-ever-thought-about-credit-card-churning.html

[StormRichards]

$100 Bonus when you open a Suntrust Essential Checking Account. Offer valid for new SunTrust personal checking clients only. Account must be opened online with promo code Q117CHKNG123OL OR at a branch with a branch coupon from January 10 through March 30, 2017.

To avoid the $7 Monthly Maintenance Fee:

Make 10 or more client-initiated transactions per statement cycle7 OR
Make $500 or more in total qualifying monthly Direct Deposits8 per statement cycle OR
Keep a $500 minimum daily collected balance OR
Open as a student and receive a 5 year Student waiver

Higher bonuses available for Select or Signature Advantage accounts

https://www.suntrust.com/Microsites/Checking/checking-offer/index.html

[cooliemae]

Hustler Money keeps a good and updated list of bonuses, both credit card and bank accounts. You might check it out and bookmark it for future reference.

Best Bank Bonuses

[scfr]

I applaud and appreciate the intent of this thread.

As one who takes advantage of checking account bonuses, speaking from personal experience I've found the best way to stay on top of the current offers is to regularly check in on blogs that are dedicated to this topic. They are owned by people who devote themselves to to it. It's their job. Their blog entries are kept very up to date and are extremely detailed.

Two that I like are:
Deposit Accounts https://www.depositaccounts.com/

and Doctor of Credit http://www.doctorofcredit.com/region...comment-340540

Doctor of Credit this morning posted a red-hot $400 bonus. Anyone interested may want to check it out to see if you qualify.

[Spiffster]

I just switched from my credit union to Centennial Bank and Trust for an offer that netted me $500! The offer has expired, but the kicker is the interest rate on the rewards checking account 2%!! Up to 20k (emergency fund). Thats $33/mo. Just about pays for my cell phone. (35 via Cricket)

[GoodSteward]

Don't most of these accounts require leaving money in them for extended periods? I think credit card offers would make more sense for us. It's much easier to spend 3-4 grand for the same money as leaving 5+ in an account for six months. I guess main difference is you don't get a credit hit with the bank account (if that matters to you)

[rennigade]

Don't most of these accounts require leaving money in them for extended periods? I think credit card offers would make more sense for us. It's much easier to spend 3-4 grand for the same money as leaving 5+ in an account for six months. I guess main difference is you don't get a credit hit with the bank account (if that matters to you)

Yes...you have to leave money in for x amount of time. It all depends. For the citi one I did last year it was 30 days to receive the bonus. But after all was said and done and downgrading account, withdrawing money...it took around 4 months total to get the last $1,500 out...started at $15,000. I may have been able to do it sooner but I didnt want to risk getting nailed with a $25 penalty for not having enough money in the account.

[rennigade]

Another good offer...for select states though.

https://slickdeals.net/f/9684048-regions-banking-new-regions-lifegreen-checking-account-online-earn-400-credit-new-customers-only-select-locations?v=1

[scfr]

Don't most of these accounts require leaving money in them for extended periods? I think credit card offers would make more sense for us. It's much easier to spend 3-4 grand for the same money as leaving 5+ in an account for six months. I guess main difference is you don't get a credit hit with the bank account (if that matters to you)

Yes, you will need to leave the funds in for a certain amount of time or lose the bonus.
But the amount of $ needed varies as do the requirements. Higher amounts are more common, but sometimes lower ones pop up. Like the one I referenced, $1,500 . . . or less (next to nothing) if you can meet the direct deposit requirements.

We have a hard time meeting the spending requirements for credit card bonuses. We can do maybe one or two a year when we know we have a higher period of spending coming up, if we bunch up our spending. For example, when our roof was destroyed in a hail storm and we knew we would be paying the insurance deductible, we opened a cc for the bonus. For us, generally bank account bonuses make more sense than credit card bonuses, but not every bonus is feasible or worth pursuing. In fact, most aren't worth it for us . . . but the ones that are worth it are nice.

[StormRichards]

Don't most of these accounts require leaving money in them for extended periods? I think credit card offers would make more sense for us. It's much easier to spend 3-4 grand for the same money as leaving 5+ in an account for six months. I guess main difference is you don't get a credit hit with the bank account (if that matters to you)

I am not ruling out trying to do both (checking & credit card) this year, but I plan to be very selective of the offers I sign up for. The minimum balance requirements aren't a major concern for us as long as they don't exceed our emergency fund amount. That is money we don't touch anyway unless it is absolutely necessary. If it is, then we have bigger worries than losing out on a $100+ bonus.

The minimum amount of spending is a concern of mine for the credit cards. Our spending fluctuates a good bit month to month, so I would probably only consider a credit card bonus offer when I know we have some bigger expenses in the near future. End of summer vacation is definitely a great opportunity to snag an easy CC bonus.

[rennigade]

The minimum amount of spending is a concern of mine for the credit cards. Our spending fluctuates a good bit month to month, so I would probably only consider a credit card bonus offer when I know we have some bigger expenses in the near future. End of summer vacation is definitely a great opportunity to snag an easy CC bonus.

This is the reason I didnt pull the trigger on the recent chase card offering 100,000 points with a $450 annual fee. I wasnt sure if I could have spent $4k in 3 months. Bummer cause it was pretty much the best rewards card to date (even better than the amex platinum.) I would have charged our property tax to it and ate the 2% fee but im not sure when that gets billed. It'll come back eventually...ill probably sign up then.

[StormRichards]

Hustler Money keeps a good and updated list of bonuses, both credit card and bank accounts. You might check it out and bookmark it for future reference.

Best Bank Bonuses

Thanks for sharing the link. Based on their list, Chase has the best off $350 combined for checking & savings. Unfortunately they don't have any branches in Maryland it must be open at the branch.

[StormRichards]

TD Bank offers $200 but requires $2500 in direct deposits within the first 60 days. I really don't want to bother DH with changing his direct deposit every time I want to score a checking account bonus.

https://www.tdbank.com/net/selectstate.aspx?ref=/aff01_convgalaxy/index.html

[rennigade]

https://slickdeals.net/f/9710500-keybank-400-bonus-for-opening-checking-account-direct-deposit-500-first-60-days-select-states?v=1

One of the better offers ive seen recently. $400 bonus. Direct deposit $500 in first 60 days. I cant participate as my state isnt on the list...lame!

[StormRichards]

https://slickdeals.net/f/9710500-key...ect-states?v=1

One of the better offers ive seen recently. $400 bonus. Direct deposit $500 in first 60 days. I cant participate as my state isnt on the list...lame!

Me either