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Old 12-31-2020, 02:34 AM   #961
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Yes, I just got the $200 for opening a savings account with them.

In total I made $1,000 by shifting around a total of $20,000 to 3 different banks via the open a new account. During the year. It was fun .....
Do you later close the accounts or leave them open in case they have future offers?
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Old 12-31-2020, 04:12 AM   #962
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I think in general to qualify for future offers you have to close the accounts. I took advantage of a generous Chase offer 3 years ago, but don’t currently qualify for this one because my accounts are still open.
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Old 12-31-2020, 04:29 AM   #963
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Originally Posted by harley View Post
Not sure if this has been mentioned, but Chase has a deal going where if you're not an existing customer you can start a checking account (with Direct Deposit) and get $200, open a savings account ($15K for 90 days) and get $200, or do both and get $500. I'm not eligible having done the last deal, but I thought I'd pass it on in case anyone is interested.

https://account.chase.com/consumer/b...asehome_3/hero
It appears that the bonuses are paid within 10 business days, but must maintain the account being open for 6 months even though the bonuses are based on 3 month maintenance of balances.
Still around a 2.67% effective rate on just the savings account.
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Old 12-31-2020, 07:03 AM   #964
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Rich, did you purchase a GNMA fund or actual individual bonds?
Individual GNMAs

Rich
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Old 12-31-2020, 11:21 AM   #965
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Do you later close the accounts or leave them open in case they have future offers?
I close the accounts after meeting all the terms for 2 reasons:
  1. I don't need them.
  2. They may offer a similar deal again in a year or two, and having the same type of account usually disqualifies someone.
Chase has a 2 yr rule.

This is the first year, I actively went for account opening bonuses, just because I was unhappy with interest rates and had extra cash lying around.
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Old 12-31-2020, 11:37 AM   #966
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I close the accounts after meeting all the terms for 2 reasons:
  1. I don't need them.
  2. They may offer a similar deal again in a year or two, and having the same type of account usually disqualifies someone.
Chase has a 2 yr rule.

This is the first year, I actively went for account opening bonuses, just because I was unhappy with interest rates and had extra cash lying around.
I've got a couple of 1.6% Ally Cd's coming due in March. At that point, I'll probably work on using the money to take advantage of a couple of these bonuses. I do a lot of CC bonus offers, but have never done bank bonus offers before - mainly due to being able to make decent money on MM funds. Not anymore!
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Old 12-31-2020, 11:49 AM   #967
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Originally Posted by Sunset View Post
I close the accounts after meeting all the terms for 2 reasons ... Chase has a 2 yr rule.
The fine print says existing customers are excluded but does not have a 2-year rule or any other restriction. I've been collecting these bonuses since 2013, my last accounts were closed in March 2019, and I was able to open accounts with this offer.
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Old 12-31-2020, 01:06 PM   #968
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The fine print says existing customers are excluded but does not have a 2-year rule or any other restriction. I've been collecting these bonuses since 2013, my last accounts were closed in March 2019, and I was able to open accounts with this offer.
I took advantage of a savings account offer, I've had a checking account with them for years. I guess the existing customer part really means existing customer with the subject savings account. (in my case).

I saw the 2 yr rule on an offer, I'm sure the rules change depending upon the offers.

For my chase savings account offer , I had to keep the $15K in for 3 months, and keep the account open with a minimum $300 for an additional 3 months.

I did this one once years ago for a $250 bonus.
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Old 12-31-2020, 02:29 PM   #969
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I took advantage of a savings account offer, I've had a checking account with them for years. I guess the existing customer part really means existing customer with the subject savings account. (in my case).

I saw the 2 yr rule on an offer, I'm sure the rules change depending upon the offers.

For my chase savings account offer , I had to keep the $15K in for 3 months, and keep the account open with a minimum $300 for an additional 3 months.

I did this one once years ago for a $250 bonus.
There is work involved with opening, keeping eye on, and closing. Did you ever consider if your time/effort was worth $250?
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Old 12-31-2020, 03:46 PM   #970
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I'm still working, so with these low rates, I decided to really step my retirement contributions to add more to a stable value fund that pays 3% (and has been for years) with no management fees. I'm already maxing out my 457B, but I can add over $50,000 per year more to my 401a contributions until I retire.
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Old 12-31-2020, 04:10 PM   #971
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There is work involved with opening, keeping eye on, and closing. Did you ever consider if your time/effort was worth $250?
Yeah, but that's for them to decide. I like to hear the offers. I've taken a couple of them myself, but for the most part don't bother.

It's funny how people do things differently for whatever reasons.

Some wait to try to get the very best deals, while others (like myself) take the first dip and don't worry about it.

Some do these bonus card/account deals, others don't want to do the paper work.

Some do Roth conversions to maximize wealth, other people say it's too much work and too much uncertainty for them to bother.

It doesn't bother me what others decide, but I do like hearing about the deals and strategies so I can decide for myself. And I'm probably lying, I'll bet someone can find some posts where it did seem to bother me, but I'm trying to stop that!

I used to do coupons in the grocery store. Kroger made it reasonably easy by mailing some to me based on things I've bought in the past. Then I realized how much time I was using to try to sort through them to decide what to use, and too often I'd forget the coupons in my car or not see that they've expired, so I stopped. Now they have digital coupons, and I find that even harder to use.
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Old 12-31-2020, 05:49 PM   #972
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Originally Posted by GenXguy View Post
I'm still working, so with these low rates, I decided to really step my retirement contributions to add more to a stable value fund that pays 3% (and has been for years) with no management fees. I'm already maxing out my 457B, but I can add over $50,000 per year more to my 401a contributions until I retire.
When you retire, perhaps keep your 401k just for this option instead of automatically rolling over into an IRA.
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Old 12-31-2020, 07:02 PM   #973
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So here's a special deal from Ally Bank: spit out a kid on Dec 31st and they will put $250 in a custodial account for said kid.
https://www.ally.com/go/bank/nye-2020-babies/
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Old 12-31-2020, 08:45 PM   #974
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When you retire, perhaps keep your 401k just for this option instead of automatically rolling over into an IRA.
Yeah, I definitely think about it - I know others who have left our organization who are doing just that.
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Old 12-31-2020, 10:47 PM   #975
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So here's a special deal from Ally Bank: spit out a kid on Dec 31st and they will put $250 in a custodial account for said kid.
https://www.ally.com/go/bank/nye-2020-babies/
And the IRS will give you a benefit to boot!
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Old 12-31-2020, 11:46 PM   #976
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Originally Posted by JustKickItForward View Post
There is work involved with opening, keeping eye on, and closing. Did you ever consider if your time/effort was worth $250?
I do think about it, and for example, so far won't apply for a Credit card that pays me only $100 for a bonus.
Some even offer less than a $100 bonus, can you imagine

It is a bit of effort to apply and banks take the most effort, but maybe takes 2->3 hours for the entire process spread over months. But it's at my convenience, when I'd not be doing anything important, and just wasting away the hours of my life.
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Old 12-31-2020, 11:51 PM   #977
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.....
I used to do coupons in the grocery store. Kroger made it reasonably easy by mailing some to me based on things I've bought in the past. Then I realized how much time I was using to try to sort through them to decide what to use, and too often I'd forget the coupons in my car or not see that they've expired, so I stopped. Now they have digital coupons, and I find that even harder to use.
+1
That is so annoying that stores got sold on this digital thing. Mine want to make you click on EACH item in there list of 500 things on coupon sale
My store didn't have a button at the top to say "Add All".

I stopped shopping there, that is their reward.

I prefer a store that just passes on the savings of not paying for that system to the customer.

It just psychologically bothers me, if I shop there to know I'm paying more than Joe clicker, who spent an hour on the website clicking the coupons.
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