I just got a letter in the mail from chase that offers me a $150 bonus when I open an account with them. I currently do not have an account with chase but was planing on opening one. I feel though as if there is something sneaky with this such as I get this money deposited and then get charged it all back for keeping the account open.
Heres what it says
Bonus/Account Information — To qualify for the bonus you must open a new qualifying Chase checking account with a $100 minimum deposit of new money (money not currently held by Chase or its affiliates) within 60 days of account opening. Bonus will be automatically deposited into your new account within 10 business days after the $100 minimum deposit is made. Bonus is not considered part of minimum opening deposit. For new interest-bearing checking accounts, the Annual Percentage Yield (APY) is effective as of 5/6/11. The APY is 0.01% for all balances in all states. Interest rates are variable and subject to change. Fees may reduce earnings on the account. Limit one checking account-related bonus per customer, per calendar year. Offer not available on account conversions or in combination with any other offer. Checking account must remain open for a minimum of six months or the bonus amount will be debited from the account at closing. Account is subject to approval. Account is subject to approval. Bonus is considered interest and will be reported on IRS Form 1099-INT.
Categorized | Featured Articles
Chase Checking Account $150 Bonus Help?
Posted on June 10, 2011.
It’s terms are pretty straightforward. If you meet them, you get the bonus…
Bank of America advertised something like this where they just lied; they said they would give the bonus, but they did not give it. I am not sure that Chase is more honest.
If you put only the $100 minimum into the account and you do not have direct deposit, then there will probably be a monthly fee for keeping the account open. If you have direct deposit or a large enough balance, then I think they waive the fee.