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Do This Now [Limited Time Offer]: Open A US Bank Checking Account




Taking a page from Free-quent Flyer with his “Do This Now” series, if you don’t have a US Bank Checking account you should open one now. I mentioned in the past that if you are thinking about being a US Bank customer, you should open up a checking account. A friendly reader also left this comment:

The Gold Checking account trick appears to be true. I mysteriously got my AF refunded last month after PCing to the Amex product. I guess the CC and gold checking acct cancel each other’s fees!

So we have confirmation – Gold Checking + Flexperks American Express knocks each other out from the fees.

Why You Should Do It Now?

Doctor Of Credit lets us know that there’s a bank bonus for signing up, $125 and free points to opening up the account when you fund the checking account, up to $500. My assumption is that any credit card used will be coded as a purchase only because American Express is accepted. But you should also consult this resource on Doctor of Credit.

US Bank

 

I actually opened my account a little over a week ago because I couldn’t wait for the bonus and my Flexperks anniversary is coming up and wanted the systems to sync so I would be properly refunded come August. I’ll have to chat with a representative to see if I can get the bonus match. To play it safe, I funded with my US Bank Flexperks card and it came as a purchase. If I were to do it all over again, I would have used my American Express Business Platinum card for $500 in spend for the 20kchallenge, but maybe it’s a good thing I didn’t because I see this comment on Doctor of Credit that a reader was charged a cash advance. There was a conflicting report about SPG on Fatwallet being charged as a purchase and both are American Express issued cards, so it’s a tough call with little data.

 

7 comments… add one
  • Thanks for the post. My wife is an authorized user on my US Bank credit card. Do you think that she can open up a no fee checking account because she has a US Bank credit card in her name even though she is not the primary on the account?

    Thanks, I am new to this!

    Reply
    • This one I’m not sure about. You could try the online chat, they’re pretty helpful. I want to say it is only applicable to the primary cardholder, because the checking account is tied to the primary cardholder’s SSN

      Reply
  • I believe the Amex Bus Plat is a charge card so there should never be a cash advance when using it. I don’t think the SPG is… so they could very well treat a charge to open an account differently. Happy to be corrected here if I am confused, especially since I’m a little confused by the comment you quoted:

    “The Gold Checking account trick appears to be true. I mysteriously got my AF refunded last month after PCing to the Amex product. I guess the CC and gold checking acct cancel each other’s fees!”

    What’s PCing? And how is it that an Amex product cancels a US Bank AF? Is there a full explanation posted someplace that I could read?

    Thanks!

    Reply
    • Never mind! I just read your earlier post and get it now. Never having had a FlexPerks, I didn’t pay much attention when the Amex version was announced.

      Reply
  • I thought I read somewhere about opening a free savings account at same time for an extra $500 in CC spend to fund the account for a total of $1000 for both accounts. I can’t find it anymore though. Anyone know if that’s true before my wife opens an account?

    Reply
    • Yep Doctor of Credit mentioned that you can open the savings account with credit up to $500.

      Reply

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