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  #1131  
Old 10-17-2019, 02:10 PM
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Originally Posted by Klaymen View Post
If I can get $700 from depositing $50,000 that is a return of 1.4%. If it only took 60 days, that would be an annualized return of 1.014^6-1 = 8.7% which looks fine.

But then it says I'll receive the bonus within 90 days of completing all activities. Can I really move my $50,000 elsewhere, close the account, and expect to get the $700 separately? If i have to wait 5 months to collect, now the annualized return could be as low as 1.014^(12/5)-1 = 3.4% which isn't as exciting.
clearly not as attractive to folks who don't routinely hold some cash - until we have a couple of years of negative equity returns

i had to put up $15k at 2 different banks for some number of months to get the $600 reward offered by each. one paid 1% on $15k in addition to the bonus. The other paid something like 0.01%. no matter, $1200 reward on $30k deposit held for 6 mos - i didn't bother working out the ROR
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  #1132  
Old 10-17-2019, 02:11 PM
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Originally Posted by glassy View Post
IME the "within 90 days" is just a CYA disclaimer, and the bonuses actually hit your account within a few business days.
depends. 3 of 4 offers i've done this year paid part of the reward at the end of the deal
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  #1133  
Old 10-17-2019, 02:19 PM
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Originally Posted by Klaymen View Post
I've never tried this for bank accounts, but since I'm not keeping my rainy day fund fully invested, perhaps I should start. Can anyone recommend a good site to research this stuff? (Or the best deals?) I found:

https://www.moneycrashers.com/best-n...otions-offers/

Sadly Wells Fargo is my bank of choice so I doubt I can go for that offer, it did look pretty good. And several of the offers were not available to residents of IA.
the $600 offers i got were targeted offers, not available to just anyone who asked about them

i had to jump through a few hoops like have payroll deposit, a certain number of transactions in a time window, and $15k on deposit for x months, but they were easy to satisfy
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  #1134  
Old 10-17-2019, 02:51 PM
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Chase Total Checking®: $200 bonus

3.5
NerdWallet rating
Through Jan. 21, 2020

Chase
at Chase,

Member, FDIC

What you’ll get: $200.
How to get it: Open a Chase Total Checking® account online or in person using a coupon emailed to you through the promotional page. You must have a qualifying direct deposit into the account within 90 days of opening the account. The account must remain open for six months or the bonus will be deducted at account closing.
Where to open: The account can be opened online or at a Chase branch (find a location near you).
How to qualify: You must not have had a Chase checking account within the last 90 days, had one closed with a negative balance, or have a fiduciary account.
When you’ll get it: The bonus will be deposited into your account no more than 10 business days after your first direct deposit.
Monthly fee: $12, avoided by having monthly direct deposits of $500 or more, a minimum daily balance of $1,500, or keeping a daily average balance of $5,000 in your Chase Total Checking® and qualifying linked Chase bank accounts.
Deposit $1,500 for six months and make sure to have a single instance of direct deposit, collect $200. That's an annualized return of (1+200/1500)^(12/6)-1 = 28.4%
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  #1135  
Old 10-17-2019, 04:33 PM
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Quote:
Originally Posted by Klaymen View Post
I've never tried this for bank accounts, but since I'm not keeping my rainy day fund fully invested, perhaps I should start. Can anyone recommend a good site to research this stuff? (Or the best deals?) I found:

https://www.moneycrashers.com/best-n...otions-offers/

Sadly Wells Fargo is my bank of choice so I doubt I can go for that offer, it did look pretty good. And several of the offers were not available to residents of IA.
https://docs.google.com/spreadsheets...#gid=966591734

IA here also - I always look for the Regions Bank offers.
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  #1136  
Old 10-18-2019, 12:59 AM
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I'm also doing this one:
Quote:
Simple Account – Up to $500 Bonus With Qualifying Activities
Simple.com

Earn $500 when you open a new Simple Account by 10/31/19 4:59PM PT, deposit $20,000 into the new account by 11/15/19 4:59PM PT, and maintain that balance of at least $20,000 through 1/31/20 4:59PM PT.
Qualifying customers will receive the bonus credit to their Simple Account by 2/14/20 4:59PM PT.
I'll get 2% interest while my money is there, and then a 2.5% return in only 3 months.
Annualized return: 1.025^(12/3)-1 + .02 = 12.4%
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  #1137  
Old 10-22-2019, 02:55 PM
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Fifth Third Bank has a few offers, but amazingly you can collect $250 by stashing away a paltry $500 for two months. You do have to get a code via email and take it to a branch (or if you aren't near one like me, phone 800-648-2969)

https://accounts.53.com/banking/offer/checking
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  #1138  
Old 10-22-2019, 04:53 PM
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Quote:
Originally Posted by yoyo View Post
i've done 4 over the last year for a total $1650
How has it affected your credit score?
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  #1139  
Old 10-22-2019, 04:59 PM
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Originally Posted by redearedslider View Post
How has it affected your credit score?
minimally. paying off the mortgage and not having a car loan has made a bigger dent i think. score is around 830

i didn't open any new lines of credit, just checking/saving accounts
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  #1140  
Old 10-26-2019, 03:09 AM
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I open and close 2-3 credit cards each year and my score is 815.

Not that I will probably ever need a good credit score ever again.
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