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$500 Chase Bonus/$300 for just checking

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https://accounts.chase.com/banking/sendCoupon.do
Chase has a $500 bonus with $300 for just checking

However YMMV. I went to the branch today and told I was a low value customer (despite $1200 in annual fees for their cards) because I had 3 Chase checking accounts in past and closed them in 9-12 months. Teller said he was going to open one for me but kept on repeating it would be low value account. Was going to keep the account for emergencies, but actually makes me want to cancel it after bonus

 Service Fee: Chase Total Checking has no Monthly Service Fee when you do at least one of the following each statement period: Option #1: Have monthly direct deposits totaling $500 or more made to this account; OR, Option #2: Keep a minimum daily balance of $1,500 or more in your checking account; OR, Option #3: Keep an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings and other balances. Otherwise a $12 Monthly Service Fee will apply.

Moderator Comment: Thank you for your participation. Please note that there is also discussion about this topic Here. — Jul. 2, 2017 @ 7:34pm
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Fark Chase

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Alliant ACH used to work for DD requirements but did not for me last month. FYI..

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link didn't work for me, has it changed?

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404 dead

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See the Member Summary in this Fat Wallet thread 

See the ALTERNATE OFFER in that box.  Expires August 7, 2017.

Doctor of Credit Review and his member comments 
Possible repost

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link does not work ?

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For just checking what?

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I open Chase checking and savings accounts every year for new customer bonus (~$500 between both accounts).

Usually one account requires a $10k commitment for 90 days -- after which I bring them down to close to the minimum for about 9 months... Then I close them for 3 months to "clear the slate" before applying for a new bonus the next year.

I have documentation showing the past 5 years of doing this, but I think I've been doing it for almost 10 years.

I've always wondered if they were going to flag my SSN for doing this and say "no more new account bonuses for you". When you say the associate tagged your new account as "low value", does that mean you were "flagged" like I fear?

If so, is what you did similar to what I've been doing?

Thanks!

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dup post (sorry)

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EatenByGrue said:   I open Chase checking and savings accounts every year for new customer bonus (~$500 between both accounts).

Usually one account requires a $10k commitment for 90 days -- after which I bring them down to close to the minimum for about 9 months... Then I close them for 3 months to "clear the slate" before applying for a new bonus the next year.

I have documentation showing the past 5 years of doing this, but I think I've been doing it for almost 10 years.

I've always wondered if they were going to flag my SSN for doing this and say "no more new account bonuses for you". When you say the associate tagged your new account as "low value", does that mean you were "flagged" like I fear?

If so, is what you did similar to what I've been doing?

Thanks!

  
I've thought about doing this for a while. Do you do this with other banks too?


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I do, I guess 2 or 3 times annually...  

I used to open accounts a lot (back when places like Washington Mutual existed) and once I got rejected by a bank for having too many recent accounts (by CHEX systems?) -- I complained and they ended up opening an account anyway.  

Nowadays, I do it less because the offers aren't so lucrative.  Sometimes though -- like when I saw a  "$250 + $100" offer from US Bank last year, I did open an account.  It ended up being a hassle for $350 (after dividing by 2 due to 1099 reporting) because when it came time for them to pay the bonus nothing showed up -- and calling their phone support got me nowhere ("You didn't qualify<click>").  I ended up having to go back to the branch where I opened the account, talked to the teller with whom I opened the account, and showed them the original offer (with offer code)...  And even then it took a month of her "working with management" to get the bonus paid.  That soured me on doing it -- but Chase always has paid right away.

I also do brokerage account transfers for bonuses...  That's reliable.  Last year I put $1M (in equities I don't plan to trade) into a Fidelity account for $2500...  And then recently moved it to ETrade for another $2500...  And hopefully back again after a year.  Receiving brokerage always pays any fees charged to close the previous account.  Similarly I moved an $200k+ IRA to BOA (Merrill Edge) at the end of last year for $1000 (deposited straight into the IRA!).

Not sure if the time I spend is worth it...  but I like the feeling of "free" money.

 

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EatenByGrue said:   Nowadays, I do it less because the offers aren't so lucrative. 

 

  
I haven't been keeping track of bank opening bonuses for that long (maybe 5 years), but I have never seen them as lucrative as they have been in 2016 and 2017. Are you referring to there being better bonuses back when you had to go in a branch to open them? Back when Washington Mutual existed, it wasn't that easy to open a bank account online. Nowadays it's so easy and that is what is making them so much more lucrative - more access and not having to go in branch.

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