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Opened a Chase account

Contributor

Opened a Chase account

Today was the breaking point! One more “open an account and get free money” flyer in the mailbox. I was tired of Chase waving $$ in front of my face. So, I grabbed the DW and we headed to the Chase right around the corner from the house.  The process was quite simple. They even gave me the “ Premier Plus” Checking without the required minimum $15k balance since I am a veteran. So I setup a direct deposit and soon I will have an extra $300!  (minus taxes at the end of the year) My main banking will stay with Navy for now.

 

This will also allow me to build a relationship with them I case I want to app for one of their cards in the future.

Message 1 of 14
13 REPLIES
Community Leader
Valued Contributor

Re: Opened a Chase account

Yeah. I got one in the snailmail box yesterday and am thinking about it. $300 is a pretty nice bank bonus, I just hate moving my direct deposit, and so does my employer. I don't have it with me, but I thought the $15k balance was to get an additional $200 for savings, the checking has no minimum balance for the $300 bonus, just the DD requirement.


Fico 08: 720/721/719 TU/EX/EQ
Message 2 of 14
Contributor

Re: Opened a Chase account

I hear you. I'm lucky in the fact that I can set-up serveral DD of my paycheck, and I can change them at any time. If I didn't have that capability then I probably wouldn't have done it.

Message 3 of 14
Established Contributor

Re: Opened a Chase account


DaveInAZ wrote:

Yeah. I got one in the snailmail box yesterday and am thinking about it. $300 is a pretty nice bank bonus, I just hate moving my direct deposit, and so does my employer. I don't have it with me, but I thought the $15k balance was to get an additional $200 for savings, the checking has no minimum balance for the $300 bonus, just the DD requirement.


Premier Plus Checking is $15k to avoid $25/mo service charge. Waived with military ID. I took the Total Checking bonus when I opened my account because it was a much lower minimum, and after getting the bonus I converted to College Checking to drop the minimum altogether.

 

Great move OP, enjoy the bonus!


TU FICO 8: 734 (12/17) — Ex FICO 8: 738 (1/18)
Message 4 of 14
Community Leader
Senior Contributor

Re: Opened a Chase account

I open a Chase Checking and Savings each year and close them about 7 months later.  That's $500/year.  This year I added a Chase Business Checking ($300) to the mix.  That's $800 for a half hour visit in-branch.

 

Chase is a bit odd in that they don't have any problem with people churning their bank account bonuses.  Discover, by way of contrast, will only give you one bonus for each type of account during your life.  Thus with Discover it's a nice plan to wait until they are offering the bonus at its highest historic rate.

Message 5 of 14
Contributor

Re: Opened a Chase account

Wow, I didn't know they would let you do it more than once.  That's good to know. Open one every year in November for some extra Chrismas money! I'll have my son write them a thank you card for paying for his presents this year. Smiley Happy

Message 6 of 14
Community Leader
Valued Contributor

Re: Opened a Chase account

sid33 wrote:
I hear you. I'm lucky in the fact that I can set-up serveral DD of my paycheck, and I can change them at any time. If I didn't have that capability then I probably wouldn't have done it.



Wow, that's the way to go! My employer is the local county and in addition to having to mail the payroll department a form & voided check they added a policy last year that the first pay after charging DD is a printed check they mail to you. And it's a "business" check, as wide as a sheet of paper, too big to work on a mobile app, so I have to go to a branch to deposit it. So, a royal PITA to change direct deposit, on purpose.

EDIT - Just checked my mailer, it is for the Total checking w/$300 bonus, so no $15k deposit/balance needed. Ok county payroll, here I come . . .


Fico 08: 720/721/719 TU/EX/EQ
Message 7 of 14
Valued Contributor

Re: Opened a Chase account


CreditGuyInDixie wrote:

 

Chase is a bit odd in that they don't have any problem with people churning their bank account bonuses.  Discover, by way of contrast, will only give you one bonus for each type of account during your life.  Thus with Discover it's a nice plan to wait until they are offering the bonus at its highest historic rate.


I wouldn't go that far. I usually get flagged by Early Warning system if I try to open an account online. I have to go into a branch and somehow I'm able to open the account. 

Amazon Store Card - 3.7k / AMEX Blue Cash Preferred - 1k / AMEX Delta - 3.4k / AMEX Hilton Honors - 1.2K / Capital One Quicksilver - 15k / Citi ThankYou Premier - 5.6k / Citi AT&T 4.6k / Citi AAdvantage Platinum - 6.5k / Citi Simplicity - 4.6k / Empower MasterCard - 1k / Navy Federal Flagship - 10k / USAA Limitless - 5k / USAA Rate Advantage - 2k (previously 5k)
Message 8 of 14
Community Leader
Senior Contributor

Re: Opened a Chase account


mountaindewvoltage wrote:

CreditGuyInDixie wrote:

 

Chase is a bit odd in that they don't have any problem with people churning their bank account bonuses.  Discover, by way of contrast, will only give you one bonus for each type of account during your life.  Thus with Discover it's a nice plan to wait until they are offering the bonus at its highest historic rate.


I wouldn't go that far. I usually get flagged by Early Warning system if I try to open an account online. I have to go into a branch and somehow I'm able to open the account. 


I am unsure what you mean by "I wouldn't go that far."  You wouldn't go as far as to say that Chase lets people get their bonus once a year?  Or you wouldn't go as far as to say that Discover only lets you do it once?

 

I'm confused!  :-)

Message 9 of 14
Valued Contributor

Re: Opened a Chase account


CreditGuyInDixie wrote:

mountaindewvoltage wrote:

CreditGuyInDixie wrote:

 

Chase is a bit odd in that they don't have any problem with people churning their bank account bonuses.  Discover, by way of contrast, will only give you one bonus for each type of account during your life.  Thus with Discover it's a nice plan to wait until they are offering the bonus at its highest historic rate.


I wouldn't go that far. I usually get flagged by Early Warning system if I try to open an account online. I have to go into a branch and somehow I'm able to open the account. 


I am unsure what you mean by "I wouldn't go that far."  You wouldn't go as far as to say that Chase lets people get their bonus once a year?  Or you wouldn't go as far as to say that Discover only lets you do it once?

 

I'm confused!  :-)


It means there is a point where Chase will say "enough" with account churning, because Early Warning Systems (owned by Chase and others) will flag you. 

Amazon Store Card - 3.7k / AMEX Blue Cash Preferred - 1k / AMEX Delta - 3.4k / AMEX Hilton Honors - 1.2K / Capital One Quicksilver - 15k / Citi ThankYou Premier - 5.6k / Citi AT&T 4.6k / Citi AAdvantage Platinum - 6.5k / Citi Simplicity - 4.6k / Empower MasterCard - 1k / Navy Federal Flagship - 10k / USAA Limitless - 5k / USAA Rate Advantage - 2k (previously 5k)
Message 10 of 14