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12-05-2021, 05:11 PM
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#41
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Dryer sheet aficionado
Join Date: Nov 2015
Posts: 28
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Quote:
Originally Posted by teejayevans
Do they do credit checks when you open an account?
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That is my question too.
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12-05-2021, 06:06 PM
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#42
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Dryer sheet aficionado
Join Date: Nov 2015
Posts: 28
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Quote:
Originally Posted by COcheesehead
For opening a new account. I thought I had all the accounts at Fidelity I needed, but a cash management account qualifies as well.
Offer good for current Fido customers too.
Check out the link. Super simple to open/fund an account.
https://www.fidelity.com/go/special-...fccbe1eddd0d55
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My credit is frozen. Does anyone know if that will be an issue? I am an existing customer with Fidelity.
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12-05-2021, 06:27 PM
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#43
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,506
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Aarggghh. Just opened FIDO Roth up on Wednesday and converted monies from existing FIDO Rollover IRA. Oh well, maybe next time.
__________________
OMY * 3 2ish Done 7.28.17
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12-05-2021, 06:32 PM
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#44
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Funded today. Transferred $100 from my existing investment account to the new one.
I like easy round numbers.
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12-05-2021, 07:13 PM
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#45
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Thinks s/he gets paid by the post
Join Date: Jul 2002
Posts: 1,587
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Quote:
Originally Posted by ER2B
I'm almost sure fidelity's $100 incentive is a taxable event. I live in a state that I have to pay 5% , add the 22% to Uncle Sam. That leaves $73 and another account to keep track. Hmmm.
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Several years ago I received $1500 from Fidelity as an incentive to move my brokerage account to Fidelity. The $1500 incentive payment was reported on a 1099MISC, thus taxable income reported to the IRS. I fully expect this $100 to be reported the same way if you open a taxable account.
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12-05-2021, 07:37 PM
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#46
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Dryer sheet aficionado
Join Date: Jul 2021
Posts: 27
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Thx. Always just been a Vanguard guy. Now I’m a Fido guy too. So is my wife. [emoji385][emoji385]
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12-05-2021, 07:48 PM
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#47
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2016
Posts: 8,968
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Me thinks that's why they're giving away benjies!
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12-05-2021, 07:48 PM
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#48
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
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Quote:
Originally Posted by Free2BMe
My credit is frozen. Does anyone know if that will be an issue? I am an existing customer with Fidelity.
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No credit check.
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12-06-2021, 05:35 AM
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#49
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Recycles dryer sheets
Join Date: Jan 2017
Posts: 155
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Quote:
Originally Posted by RE2Boys
Several years ago I received $1500 from Fidelity as an incentive to move my brokerage account to Fidelity. The $1500 incentive payment was reported on a 1099MISC, thus taxable income reported to the IRS. I fully expect this $100 to be reported the same way if you open a taxable account.
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Thank goodness credit card rewards are still tax free.
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12-06-2021, 05:41 AM
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#50
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2004
Location: Laurel, MD
Posts: 8,327
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Quote:
Originally Posted by Dtail
Most of the time, but not if one has reward CC with 100k in ML/BOA.
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Ok, I’m interested in the ML/BOA Preferred Rewards. How do they pay the reward? I love the Fido Visa that pays 2% automatically into my account monthly.
I already got the $100 Fido new account bonus for opening a CMA when the promo was posted in the bank bonus thread. Already have several accounts there so no credit check.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
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Fidelity is giving away $100 limited time
12-06-2021, 05:43 AM
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#51
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2011
Location: NC Triangle
Posts: 5,807
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Fidelity is giving away $100 limited time
I thought there was a minimum amount required for 1099-MISC reporting. A while ago (2006) I received $600 for an article I submitted to a magazine (no biggie) and there was no 1099 generated.
__________________
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12-06-2021, 07:50 AM
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#52
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
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I’ve gotten a few bonuses over the years from Fido for big deposits. They were always recorded as miscellaneous income. So if you do a TurboTax download of your Fido info, it likely will be included. If you don’t, the $600 rule may come into play.
In the end, its virtually free money. Even if you have to pay taxes on it, its so easy to obtain.
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12-06-2021, 08:40 AM
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#53
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Recycles dryer sheets
Join Date: Sep 2006
Location: clearwater
Posts: 439
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Quote:
Originally Posted by steelyman
I thought there was a minimum amount required for 1099-MISC reporting. A while ago (2006) I received $600 for an article I submitted to a magazine (no biggie) and there was no 1099 generated.
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There is a mandatory minimum, but many issue the 1099 whether mandatory or not.
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12-06-2021, 09:20 AM
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#54
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Recycles dryer sheets
Join Date: Sep 2021
Posts: 197
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Quote:
Originally Posted by jazz4cash
Ok, I’m interested in the ML/BOA Preferred Rewards. How do they pay the reward? I love the Fido Visa that pays 2% automatically into my account monthly.
I already got the $100 Fido new account bonus for opening a CMA when the promo was posted in the bank bonus thread. Already have several accounts there so no credit check.
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You can setup CC auto reward amount like $25 min to deposit into your BA account or Merrill. But you do need to open a BA checking to receive the higher reward (175% of normal reward) and it takes about min 3 months to build up a 100k balance needed for Preferred status. But they will keep your status for the whole year even you drain your balance below 100k mid year.
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12-06-2021, 09:23 AM
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#55
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 3,681
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Thanks for the link. Very easy to set up and no crazy hoops to jump through like some bonus offers.
We moved our HSAs to Fidelity earlier in the year for the no fee HSA accounts and I love their website compared to our old HSA accounts at HSA Adminstrators.
Since DH and I already have Fidelity accounts I just opened a brokerage one for me and I'll see if DH wants to open something for himself and get the $100 bonus. Can't imagine he'd say no!
__________________
Married, both 69. DH retired June, 2010. I have a pleasant little part time job.
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12-06-2021, 09:30 AM
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#56
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Recycles dryer sheets
Join Date: Feb 2020
Posts: 84
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thank you for the heads upon this!
I just opened an account, took all of 5 minutes. I already had a brokerage and HSA account at Fidelity so I just transferred $50 from my brokerage account.
no credit check needed so I didn't have to unfreeze our credit holds.
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12-06-2021, 09:34 AM
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#57
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Cincinnati, OH
Posts: 4,373
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Decided to jump on the free $100. Already have my accounts at Fidelity, so it was easy enough to just transfer some cash from another account to satisfy the $50 min deposit. Thanks to OP for the link.
__________________
The problem isn't artificial intelligence, it's natural stupidity.
You can't spend yourself to prosperity.
Semi-Retired 7/1/16: working part-time (60%) for now [4/24/17 changed to 80%]
Retired Aug 2, 2017; age 53
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12-06-2021, 09:59 AM
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#58
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 1,639
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Did this a couple of months ago by opening a new joint brokerage account. We have almost everything at Fidelity anyway, but already wanted another brokerage account separate from our CMA account - so this was a no-brainer.
I ended up having to do a chat session to get my $100. I think I did everything right, but it didn't show up, so after about 30 days I sent a chat. They funded it manually the next day.
I did a couple of Citi $400 bonus ($15K checking accounts) back in July and am still waiting on the bonus - which may never come after reading about how bad Citi is about these things. I'll wait until the latest possible time Citi has to fund the bonus and then call. Then, I'll move everything that's left and never deal with Citi again.
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12-06-2021, 10:04 AM
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#59
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Thinks s/he gets paid by the post
Join Date: Nov 2006
Posts: 1,639
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Quote:
Originally Posted by NewEnglander
thank you for the heads upon this!
I just opened an account, took all of 5 minutes. I already had a brokerage and HSA account at Fidelity so I just transferred $50 from my brokerage account.
no credit check needed so I didn't have to unfreeze out credit holds.
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Funds need to be from an external account (non-Fidelity funds).
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12-06-2021, 11:10 AM
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#60
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Thinks s/he gets paid by the post
Join Date: Aug 2014
Location: Chicago West Burbs
Posts: 3,014
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For those who have already done Roth Conversions very close to the IRMAA trigger level, have you thought of the cost that this $100 bonus might have? Maybe we don't convert it to the absolute limit?
DW opened an account in Nov with Fido. I wonder if our personal advisor would credit her the 100.
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