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Chase Checking Account Offer and Eligibility

Regular Contributor

Chase Checking Account Offer and Eligibility

I received a mailer today from Chase addressed to "our neighbor". It's an offer for $300 if I open a Chase checking account with direct deposit. There's another $200 if I open a savings account but I have to keep $15,000 in it (not possible for me at this juncture). I have been with my local credit union forever and will still keep those accounts open.

 

Anyway, the only stipulation I can see that may prevent me from taking advantage of this is that it s "subject to approval". My Chapter 7 BK was discharged in October of 2016. Does anyone know if this matters for a checking account, particularly with Chase? I know they do not give credit cards readily to BKers.

 

And, if anyone has done this, were there any obstacles? I see the following rules:

  • Monthly direct deposit of at least $500 within 60 days of opening (ok- and no monthly fee with his occuring)
  • Enroll in online banking and bill pay (not a problem)
  • Open with at least a $25 deposit (no problem)
  • Keep it open for at least 6 months (alright)
  • Open the account at a branch (fine)

If it helps, it's the Chase Total Checking account

 

 

 


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 1 of 14
13 REPLIES
Community Leader
Super Contributor

Re: Chase Checking Account Offer and Eligibility

No, it does not matter that you filed for BK.  Chase will use chexsystems for their checking account.  Also, all you have to do is keep the money for example in the savings account for 6 months and then you can get the bonus and reduce the balance in the account without a penalty.  I have done so several about 2- 3 times myself.

Message 2 of 14
Regular Contributor

Re: Chase Checking Account Offer and Eligibility

Well, I know where I'm headed on Monday! I am clean on Chexsystems. Thanks for the quick reply Smiley Happy 


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 3 of 14
Community Leader
Super Contributor

Re: Chase Checking Account Offer and Eligibility


kberly69 wrote:

Well, I know where I'm headed on Monday! I am clean on Chexsystems. Thanks for the quick reply Smiley Happy 


You are welcome and let us know how it goes afterwards.

Message 4 of 14
Community Leader
Senior Contributor

Re: Chase Checking Account Offer and Eligibility


kberly69 wrote:

Well, I know where I'm headed on Monday! I am clean on Chexsystems. Thanks for the quick reply Smiley Happy 


Good luck and enjoy your bonus!Smiley Happy

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 08/21/17 EQ 781 TU 784 EXP 789
Current Score: 781
Goal Score: 800
Take the myFICO Fitness Challenge
Message 5 of 14
Valued Contributor

Re: Chase Checking Account Offer and Eligibility


Yes-Its-Me wrote:

No, it does not matter that you filed for BK.  Chase will use chexsystems for their checking account.  Also, all you have to do is keep the money for example in the savings account for 6 months and then you can get the bonus and reduce the balance in the account without a penalty.  I have done so several about 2- 3 times myself.


One thing to note, if you are going to a branch in another state, they will SP your Experian report. I found this out a couple of years ago when I went to a branch in CA and was denied an account based on information in my Experian credit report.

 

My state has branches, but there are none locally. One is finally opening soon, though.



Starting scores: 552 EQ, 570 TU, 558 EX Current scores (9/29/17): 746 EQ 721 TU 719 EX
Message 6 of 14
Member

Re: Chase Checking Account Offer and Eligibility

we got the same offer in the mail...

 

however, we had a foreclosure wtih them back in 2009 and we bk'd the HELOC in 2011...think we still got a chance to earn this $300 ?

 

thanks.

Message 7 of 14
Regular Contributor

Re: Chase Checking Account Offer and Eligibility

The nearest branch for me is about an hour away and my mom had some health issues so I won't be able to get there until next week. I'll update when I make it in. 


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 8 of 14
Highlighted
Community Leader
Valued Contributor

Re: Chase Checking Account Offer and Eligibility


itlm062 wrote:

we got the same offer in the mail...

 

however, we had a foreclosure wtih them back in 2009 and we bk'd the HELOC in 2011...think we still got a chance to earn this $300 ?

 

thanks.


Yes. Chase was a major creditor for a couple CCs in my 2010 BK7 and I did this new account bonus in 2015 with no problem. Just be sure to decline overdraft protection on the account, that's a credit product that authorizes them to hard pull your credit report.

 

I'd do this again but I work for the local county and I've already changed my payroll DD twice this year and that's the max. But then I've already done $650 in 3 new bank account bonuses this year so It's time to give it a rest anyway.

 

EDIT: And everyone should be aware that these new bank account bonuses are taxable income, the bank will send you a 1099-INT form at year end, reporting the bonus as interest income. New credit card bonsues are not taxable, since you have to spend a certain amount to get them the IRS considers them a discount on purchases.


Fico 08: 720/721/719 TU/EX/EQ
Message 9 of 14
Regular Contributor

Re: Chase Checking Account Offer and Eligibility

So after one ridiculous problem after another, I was finally able to get to a Chase branch. No problems whatsoever but it did take almost an hour, which I wasn't expecting. They ask A LOT of questions, and it was apparent many of them are designed for future marketing (other accounts you have- type, amount). Now all I need to do is set up my direct deposit, wait 6 months, and collect $300. Woo hoo! Plus I get a Chase debit card that I can pretend in my own head is a credit card while I wait out the years before they'll have me Smiley Wink

Another aside- they had 5 options for card designs, 4 of them Disney. Seemed strange that the choices were so steered toward one interest. Oh well!


CH7 BK Discharged 10/16
Oct/Nov 2016: EQ 632 TU 532 EX 573
Feb 2017: EQ 695 TU 673 EX 670
March 2017 EQ 702 TU 676 EX 673
April 2017 EX 683 (TU & EQ unknown)
May 2017 EQ 695 TU 685 EX 693

Gardening since 9/7/17 Aiming for a mortgage October 2018
Message 10 of 14