topic Re: Chase Checking Account Offer and Eligibility in Personal Finance

Chase Checking Account Offer and Eligibility

kberly69 — Sat, 05 Aug 2017 20:27:48 GMT

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

Re: Chase Checking Account Offer and Eligibility

Anonymous — Sat, 05 Aug 2017 20:36:56 GMT

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.

Re: Chase Checking Account Offer and Eligibility

kberly69 — Sat, 05 Aug 2017 20:44:26 GMT

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

Re: Chase Checking Account Offer and Eligibility

Anonymous — Sat, 05 Aug 2017 21:01:41 GMT

@kberly69 wrote:
Well, I know where I'm headed on Monday! I am clean on Chexsystems. Thanks for the quick reply

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

Re: Chase Checking Account Offer and Eligibility

Anonymous — Sun, 06 Aug 2017 09:22:44 GMT

@kberly69 wrote:
Well, I know where I'm headed on Monday! I am clean on Chexsystems. Thanks for the quick reply

Good luck and enjoy your bonus!

Re: Chase Checking Account Offer and Eligibility

DeeBee78 — Tue, 22 Aug 2017 19:26:16 GMT

@Anonymous 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.

Re: Chase Checking Account Offer and Eligibility

itlm062 — Wed, 09 Aug 2017 02:00:04 GMT

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.

Re: Chase Checking Account Offer and Eligibility

kberly69 — Wed, 09 Aug 2017 12:35:33 GMT

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.

Re: Chase Checking Account Offer and Eligibility

DaveInAZ — Wed, 09 Aug 2017 14:47:18 GMT

@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.

Re: Chase Checking Account Offer and Eligibility

kberly69 — Wed, 16 Aug 2017 19:51:05 GMT

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

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!

Re: Chase Checking Account Offer and Eligibility

Anonymous — Mon, 21 Aug 2017 15:31:27 GMT

@DaveInAZ wrote:
@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.

I just checked the overdraft protection paperwork I have (I declined it anyway) as well as the deposit account agreement and do not see anything about a HP. Have you seen that in writing?

Re: Chase Checking Account Offer and Eligibility

Anonymous — Mon, 21 Aug 2017 15:34:09 GMT

@kberly69 wrote:
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
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!

Congrats on the account and bonus! I've not seen the $300 for total checking in my neck of the woods for quite some time. Did you pick one of the Disney designs? I did and at the time it was the first plastic card with my name on it, before I got my Disco. I only pull it out though when I'm in the branch to cash a check, etc.

Re: Chase Checking Account Offer and Eligibility

kberly69 — Mon, 21 Aug 2017 15:55:54 GMT

Yeah, the last mailer I got about 6 months ago was either $150 or $200 (can't remember). I went with the plain one- not a big Disney fan- but my daughter heard me talking about it and was appalled I didn't go with a Disney option

Re: Chase Checking Account Offer and Eligibility

DeeBee78 — Tue, 22 Aug 2017 19:25:54 GMT

@kberly69 wrote:
Yeah, the last mailer I got about 6 months ago was either $150 or $200 (can't remember). I went with the plain one- not a big Disney fan- but my daughter heard me talking about it and was appalled I didn't go with a Disney option

The $300 +$200 coupon is available to everyone right now. You just have to give Chase your email address and they will email you a unique coupon code to use.

Link to coupon