topic Re: Cap1 360 Checking - $350 bonus in Personal Finance

Cap1 360 Checking - $350 bonus

CreditCuriosity — Thu, 03 Aug 2023 23:12:25 GMT

Just signed up for a Cap1 360 checking account $0 fees and $350 bonus for two direct deposits of $250. You don't get any easier than that. Mine was instant approval. Nice having a place pull EWS vs. Chexs for a change as well! All want a no fee easy $350 this is for you. A laughable 2x$250 deposits. Free $ please. Found on DOC. Make sure Promo code is applied!

https://www.doctorofcredit.com/capital-one-350-checking-bonus/

Re: Cap1 360 Checking - $350 bonus

ptatohed — Fri, 04 Aug 2023 00:12:08 GMT

I like free money too but isn't it a pain (and a little embarrassing) to get your employer to switch your direct deposit from Bank Exist over to Bank New for 2 paychecks and then back to Bank Exist? Or is there an easier way to satisfy the 2 $250 dir dep requirement?

Re: Cap1 360 Checking - $350 bonus

citymunky — Fri, 04 Aug 2023 01:04:01 GMT

I might look into this. Thanks.

Re: Cap1 360 Checking - $350 bonus

Blender — Fri, 04 Aug 2023 01:36:41 GMT

@ptatohed wrote:
I like free money too but isn't it a pain (and a little embarrassing) to get your employer to switch your direct deposit from Bank Exist over to Bank New for 2 paychecks and then back to Bank Exist? Or is there an easier way to satisfy the 2 $250 dir dep requirement?

My current payroll team doesn't even respond when i send new banking info every month, they just change it. Im not embarassed one bit. Some people dont find value in chasing bank bonuses, but they add up over the year and can pay for a trip. ADP has a version that allows the employee to change and add multiple banking institutions and i admit thats way more convenient.

I'll be doing Cap1 after my FifthThird bonus hits.

Re: Cap1 360 Checking - $350 bonus

NoMoreE46 — Fri, 04 Aug 2023 02:04:12 GMT

I would Think most employers allow payroll adjustments to be initiated by the employee via an on-line portal.

So like three minutes to add a new DD to the Cap 1 DDA; Another three minutes to delete said DD thereafter...

Even if a human looks at the request, I don't see how said HR person would deem a DD to any Bank as embarrassing.

Now having a wage levy/garnishment for child support or to the IRS might be more gossipy material.

Anyway, I got a targetted Chase checking SUB offer for $300 that I getting ready to set up.

@ptatohed wrote:
I like free money too but isn't it a pain (and a little embarrassing) to get your employer to switch your direct deposit from Bank Exist over to Bank New for 2 paychecks and then back to Bank Exist? Or is there an easier way to satisfy the 2 $250 dir dep requirement?

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 02:48:43 GMT

@ptatohed wrote:
I like free money too but isn't it a pain (and a little embarrassing) to get your employer to switch your direct deposit from Bank Exist over to Bank New for 2 paychecks and then back to Bank Exist? Or is there an easier way to satisfy the 2 $250 dir dep requirement?

work for large employer 20k+ people so all online have many checking accounts allocated already add another and set check to 251 into account and meet bonus in two periods. Easy for me personally. Easier than chasing a CC sub bonus and no new account. I like Bank account bonuses more than CC money bonuses personally.

Re: Cap1 360 Checking - $350 bonus

Blender — Fri, 04 Aug 2023 08:12:24 GMT

@NoMoreE46 @There's a higher one, are you aware of? Give it a try

https://www.doctorofcredit.com/targeted-chase-900-checking-savings-bonus/amp/

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 15:58:41 GMT

Set-up direct deposit of 251 for two weeks to account this morning and will removal it later. My work doesn't even do test deposits so first one will hit next friday. Free $'s. Although one thing that stinks about bank bonuses is IRS forms

Re: Cap1 360 Checking - $350 bonus

ptatohed — Fri, 04 Aug 2023 16:59:52 GMT

Curious what you guys do after you receive your bonuses? Keep the account open with some funds? Drain the account and formally close it? Drain the account and abandon it? Sorry for asking, I have only done this once (put $75k into citi to get $1,000 but I went ahead and bought a citi CD after my bonus so I am still with them), but I'd like to get into these lower requirement smaller ones - $250 here, $350 there.

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 17:28:16 GMT

@ptatohed wrote:
Curious what you guys do after you receive your bonuses? Keep the account open with some funds? Drain the account and formally close it? Drain the account and abandon it? Sorry for asking, I have only done this once (put $75k into citi to get $1,000 but I went ahead and bought a citi CD after my bonus so I am still with them), but I'd like to get into these lower requirement smaller ones - $250 here, $350 there.

In case of well fargo drain account and close it .. Special treatment for them. Other banks if no service charge usually just keep them open and let them live and possibly move a dollar back and forth to keep alive if possibly a future with said FI. Others that have a requirement of $500 direct deposit or something a month to not be charged a fee will certainly close those. Also have another 5 FI's approx that have a lot greater amounts of $ in them for either saving rates or primary FI, or IRA's, etc, etc.

I have TONS of FI's with 100-500$ sitting in checking accounts or savings accounts. Just look at it is a rainy day money if I ever needed to pool together it would buy a nice toy or vacation lol. Guessing have around 10 FI's that meet this criteria or just left open with some $. Then another 5 FI's that are more primary that either have majority of direct deposits going to or bigger savings with 4-5% rates or ira, etc..

@ptatohed a few, but by no means all of them.. it is a friday and dont want to work lol.

Re: Cap1 360 Checking - $350 bonus

PaultheSheik — Fri, 04 Aug 2023 17:16:47 GMT

I just tried applying for a Capital Checking account. After going through the steps online, it said I needed to call. I called, they went through identity verification with me, and then I got the message they cannot approve me.

Clearly I am blacklisted by Capital One and the only reason must be what they said years ago, they do not believe I am the person I say I am. Unbelievable how an algorithm trumps commonsense. If the algorigthm says I am a not who I am, the fact that I appeared in person at their branch with all my identification doesn't matter. The algorithm is ALWAYS right!

My saga with CapitalOne is linked below. In essence they say I am not who I say I am. I am probably a ghost.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Will-I-be-approved-Am-I-blacklisted/m-p/6695299#M322845

Re: Cap1 360 Checking - $350 bonus

PaultheSheik — Fri, 04 Aug 2023 17:22:55 GMT

In my company starting earlier this year, direct deposit is being handled automatically online so apart from the first two go arounds, I have not had any contact with HR about switching or adding direct deposit accounts. Additionally we can have up to five accounts (the Paycom website we use says nine but for some reason I am limited to 5).

I've opened and drained 9 checking account bonuses this year so far for a little north of $4k. I inted to end the year with about fourteen and $6k+ in bonuses. I have absolutely no regrets, I am not doing anything illegal or unethical (in my opinion) although it is not for everyone.

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 17:22:56 GMT

@PaultheSheik wrote:
I just tried applying for a Capital Checking account. After going through the steps online, it said I needed to call. I called, they went through identity verification with me, and then I got the message they cannot approve me.

Clearly I am blacklisted by Capital One and the only reason must be what they said years ago, they do not believe I am the person I say I am. Unbelievable how an algorithm trumps commonsense. If the algorigthm says I am a not who I am, the fact that I appeared in person at their branch with all my identification doesn't matter. The algorithm is ALWAYS right!

My saga with CapitalOne is linked below. In essence they say I am not who I say I am. I am probably a ghost.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/Will-I-be-approved-Am-I-blacklisted/m-p/6695299#M322845

Sorry to hear. they use EWS have you ever pulled your EWS report?

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 17:25:00 GMT

@PaultheSheik wrote:
In my company starting earlier this year, direct deposit is being handled automatically online so apart from the first two go arounds, I have not had any contact with HR about switching or adding direct deposit accounts. Additionally we can have up to five accounts (the Paycom website we use says nine but for some reason I am limited to 5).

I've opened and drained 9 checking account bonuses this year so far for a little north of $4k. I inted to end the year with about fourteen and $6k+ in bonuses. I have absolutely no regrets, I am not doing anything illegal or unethical (in my opinion) although it is not for everyone.

nope banks use us so we are just playing their system and winning if one is fortunate enough to have the financial means to do this. no laws are being broken as long as taxes are being paid on 1099's

Re: Cap1 360 Checking - $350 bonus

ptatohed — Fri, 04 Aug 2023 17:58:23 GMT

@CreditCuriosity wrote:
@ptatohed wrote:
Curious what you guys do after you receive your bonuses? Keep the account open with some funds? Drain the account and formally close it? Drain the account and abandon it? Sorry for asking, I have only done this once (put $75k into citi to get $1,000 but I went ahead and bought a citi CD after my bonus so I am still with them), but I'd like to get into these lower requirement smaller ones - $250 here, $350 there.
In case of well fargo drain account and close it .. Special treatment for them. Other banks if no service charge usually just keep them open and let them live and possibly move a dollar back and forth to keep alive if possibly a future with said FI. Others that have a requirement of $500 direct deposit or something a month to not be charged a fee will certainly close those. Also have another 5 FI's approx that have a lot greater amounts of $ in them for either saving rates or primary FI, or IRA's, etc, etc.

I have TONS of FI's with 100-500$ sitting in checking accounts or savings accounts. Just look at it is a rainy day money if I ever needed to pool together it would buy a nice toy or vacation lol. Guessing have around 10 FI's that meet this criteria or just left open with some $. Then another 5 FI's that are more primary that either have majority of direct deposits going to or bigger savings with 4-5% rates or ira, etc..

@ptatohed a few, but by no means all of them.. it is a friday and dont want to work lol.

Thanks CC. I'm thinking there might be a benefit to closing some of these earn and burn banks, right? So that you can be eligible for the next bonus offer, sooner. For instance, the fine print of the Cap One 360 offer you linked us to in this thread says you are not eligible for the bonus if you have had a 360 account after Jan 1, 2021. So, it looks like you can maybe get a Cap One bonus every 2.5 years? This might be good reason to close the account right after each bonus is received.

Re: Cap1 360 Checking - $350 bonus

CreditCuriosity — Fri, 04 Aug 2023 18:09:11 GMT

@ptatohed wrote:
@CreditCuriosity wrote:
@ptatohed wrote:
Curious what you guys do after you receive your bonuses? Keep the account open with some funds? Drain the account and formally close it? Drain the account and abandon it? Sorry for asking, I have only done this once (put $75k into citi to get $1,000 but I went ahead and bought a citi CD after my bonus so I am still with them), but I'd like to get into these lower requirement smaller ones - $250 here, $350 there.
In case of well fargo drain account and close it .. Special treatment for them. Other banks if no service charge usually just keep them open and let them live and possibly move a dollar back and forth to keep alive if possibly a future with said FI. Others that have a requirement of $500 direct deposit or something a month to not be charged a fee will certainly close those. Also have another 5 FI's approx that have a lot greater amounts of $ in them for either saving rates or primary FI, or IRA's, etc, etc.

I have TONS of FI's with 100-500$ sitting in checking accounts or savings accounts. Just look at it is a rainy day money if I ever needed to pool together it would buy a nice toy or vacation lol. Guessing have around 10 FI's that meet this criteria or just left open with some $. Then another 5 FI's that are more primary that either have majority of direct deposits going to or bigger savings with 4-5% rates or ira, etc..

@ptatohed a few, but by no means all of them.. it is a friday and dont want to work lol.

Thanks CC. I'm thinking there might be a benefit to closing some of these earn and burn banks, right? So that you can be eligible for the next bonus offer, sooner. For instance, the fine print of the Cap One 360 offer you linked us to in this thread says you are not eligible for the bonus if you have had a 360 account after Jan 1, 2021. So, it looks like you can maybe get a Cap One bonus every 2.5 years? This might be good reason to close the account right after each bonus is received.

Ya certainly closing some earn/burn banks aka wells lol.. I hate them so much.. Some of these other ones I linked I have CC's with that just make it easier and a bit parked there isn't bad, but to your point am missing out on some bonuses etc. Honestly time is $ to me in a way although hang out here way to much and hate calling and being put on hold and asking people to send me cashiers checks then awaiting then doing mobile deposits. I dont do a lot of checking account churning compared to some, but a ok amount between checking acocunt/savings accounts etc I still say I pocket 3-4k / yr in free money although others certainly do a ton more then me and to your point likely would be better closing a few of them, but that isn't all by any means sadly

Re: Cap1 360 Checking - $350 bonus

PaultheSheik — Fri, 04 Aug 2023 19:48:07 GMT

No I never have. Now that you mention it, I am going to pull it and see exactly what is there.

Re: Cap1 360 Checking - $350 bonus

SouthJamaica — Fri, 04 Aug 2023 21:06:20 GMT

@PaultheSheik wrote:
I just tried applying for a Capital Checking account. After going through the steps online, it said I needed to call. ....

Same thing happened to me. I didn't bother calling them. I don't like Capital One.

I happened to like the 360 checking .... it was my first internet account. I opened it with ING Bank, but then Capital One acquired it. It was my first super convenient account. I have lots of credit union accounts like that now, but the 360 was my first.

Re: Cap1 360 Checking - $350 bonus

NoMoreE46 — Sun, 06 Aug 2023 02:59:55 GMT

Thanks for looking out @Blender. I tried. It appears that this SUB expired July 19.

Re: Cap1 360 Checking - $350 bonus

Iusedtolurk — Sun, 06 Aug 2023 18:49:40 GMT

Anybody know if you just send 251 from another bank account would that qualify as a direct deposit?