I've been reading on some blogs about bank signup bonuses. I'm interested to start experimenting with this. What are some reccomended resources or ones to start with? I already have Cap One 360 bank accounts, and only Discover It student and CapOne Journey cc's for funding. NJ resident though recently lived in CA.
How to start with bank bonuses
- Thread starter Zora
- Start date
Many bonuses require direct deposit; some accounts require DD to avoid monthly fees.
How easy is it for you to divert (parts of) paycheck to new accounts?
I'd start with Santander Extra 20. Wait for a Chase $200 coupon to open an account there. Once you have a really large CL for funding, get a Citigold.
How easy is it for you to divert (parts of) paycheck to new accounts?
I'd start with Santander Extra 20. Wait for a Chase $200 coupon to open an account there. Once you have a really large CL for funding, get a Citigold.
And beware of the tax implications of some of these. You may very likely get a tax form 1099-INT to fill out for these types of bonuses.
A lot of banks don't require "real" DD. ACH pushes from some banks count towards this. The article on Doctor of Credit is good about answering these questions.
I second though waiting for a good Chase coupon. If you have one of their credit cards, it helps! I received in the mail a coupon for $500 between checking & savings.
My understanding was to not do too much MS with that bank account, ESPECIALLY don't deposit money orders. I don't really use my account other than to transfer money to my mom. I added her to my account b/c it's the only bank that exists between where I live and where she lives. Otherwise, it sits with $50 in the account minus the monthly DD in and DD out.
@cdancer20 There's been examples posted on FT where no MS is sent through the Chase checking account, there's just an abnormally large # of shutdowns that have a Chase checking account.
It's really hard to make any dedicated connections in regards to black listings obviously (or any internal FI workings really), however it has been a very common trend for those black listed to have a Chase checking account, which being a pessimist means I'm staying far, far away from that since Chase card sign ups far outweigh the $500 gain.
It's really hard to make any dedicated connections in regards to black listings obviously (or any internal FI workings really), however it has been a very common trend for those black listed to have a Chase checking account, which being a pessimist means I'm staying far, far away from that since Chase card sign ups far outweigh the $500 gain.
I want to keep amount in "play" low...most of the ones you suggested have high amounts to park. Anyway I think Chase hates me, was denied 5 yrs ago for checking/savings and for 3 cc apps in last 3 years.
I am currently unemployed (backpacking
so have to do stuff like ACH for DD.
Thinking about Citizen Bank to start...they have a branch in my/family's town..though I'll be doing pajama points with these for at least a few months. Santander looks good too! Anyone know if there's a minimum that needs to stay in the account after the initial $25 fund?
I am currently unemployed (backpacking
so have to do stuff like ACH for DD.Thinking about Citizen Bank to start...they have a branch in my/family's town..though I'll be doing pajama points with these for at least a few months. Santander looks good too! Anyone know if there's a minimum that needs to stay in the account after the initial $25 fund?
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plane2port
Level 2 Member
Please be aware that some banks will do a hard pull on your credit when you open an account. I was infuriated when a bank did a hard pull when I bought a CD from them.
My branch manager asked me to keep $100 in the extra20 savings account, so to be on his good side I do that.
For Citizen's there are coupons for $200, don't settle for $150.
+1 to everyone recommending Doctor of Credit for bank bonuses. I've learned a lot from him.
One thing that no one else has mentioned though is to check his resource page to see which banks accept credit cards as funding. Certain bank and credit card combinations can treat the transaction as a purchase instead of a cash advance, so you'd earn points with your initial funding. This is highly YMMV and definitely requires some research and consideration, but if you're willing to put for the effort for it, it could be a good way to boost your frequent flyer accounts.
One thing that no one else has mentioned though is to check his resource page to see which banks accept credit cards as funding. Certain bank and credit card combinations can treat the transaction as a purchase instead of a cash advance, so you'd earn points with your initial funding. This is highly YMMV and definitely requires some research and consideration, but if you're willing to put for the effort for it, it could be a good way to boost your frequent flyer accounts.