topic Re: Chase Checking Account bonus question in Credit Cards

Chase Checking Account bonus question

SwiftTone — Tue, 05 Jun 2012 18:59:53 GMT

I opened up a Chase Checking account recently for the $200 cash back.

One of the condition is that I have to make a direct deposit, and it specifically says it has to be from my employer or government. I think I have read somewhere that people have been able to have direct deposit somewhere else and still get the cash back?

The reason I'm asking right now is because I just got my cash bonus from my 1 month old Discover after my spending requirement. It gives me an option to direct deposit it somewhere. I was thinking of just doing a direct deposit from Discover to Chase checking account and be done with it. Will this work?

Re: Chase Checking Account bonus question

iCoop — Tue, 05 Jun 2012 19:09:07 GMT

I also signed up for the offer from Chase for $200 and it was triggered by a small trial deposit from my credit union to verify the account. The $200 bonus was automatically deposited by the system within ten business days. You can always have the money from Discover direct deposited into the Chase Checking account and then call in a few days to check to see if that triggered the bonus offer. The reps are able to tell you on which day the bonus will be deposited into your account. In my case I was told it would be deposited on a Tuesday and posted on Wednesday for use. The reps information was spot on.

Re: Chase Checking Account bonus question

Anonymous — Tue, 05 Jun 2012 19:12:53 GMT

That should work just fine. Chase doesn't seem to be too strict on their DD requirements.

Re: Chase Checking Account bonus question

kevinjjc — Tue, 05 Jun 2012 19:13:47 GMT

I'm pretty sure it will work. My ACH deposit from my USAA checking to my Chase checking counts as a DD.

Re: Chase Checking Account bonus question

SwiftTone — Tue, 05 Jun 2012 21:10:42 GMT

Thanks guys. Did any of you have to continue making monthly direct deposits?

Re: Chase Checking Account bonus question

Anonymous — Tue, 05 Jun 2012 21:24:18 GMT

@SwiftTone wrote:
Thanks guys. Did any of you have to continue making monthly direct deposits?

I guess it depends on the terms of your bonus coupon. I think you only need to DD once in order to get the bonus (for those coupons that require it), but many people continue to DD into Chase in order to avoid the monthly maintenance fee. You can also park $1,500 in the account to avoid the fee.

As long as you keep the checking account open for 6 months or more, the bonus is yours (fully vested). Close it before then, and they take it back.

Re: Chase Checking Account bonus question

kevinjjc — Tue, 05 Jun 2012 22:47:53 GMT

If you have a Chase Freedom card, you should keep your Chase checking account open for the 10/10 perks.

Re: Chase Checking Account bonus question

Anonymous — Tue, 05 Jun 2012 23:21:54 GMT

How did you get ahold of a $200 cashback coupon? I can just find the $150, and am somewhat reluctant to use the $200 cashback ones I find spread around the internet since it the system doesn't tell you if the coupon was accepted until AFTER the account has been opened, at which point you can't go back and reenter a new coupon code...

Re: Chase Checking Account bonus question

Anonymous — Wed, 06 Jun 2012 01:52:01 GMT

@Anonymous wrote:
How did you get ahold of a $200 cashback coupon? I can just find the $150, and am somewhat reluctant to use the $200 cashback ones I find spread around the internet since it the system doesn't tell you if the coupon was accepted until AFTER the account has been opened, at which point you can't go back and reenter a new coupon code...

I used a $200 code that popped up on my DGF's computer after she logged out of her Freedom account. I also had one mailed (no DD required) to me, ironically, 2 weeks after opening my Chase checking account.

Re: Chase Checking Account bonus question

iCoop — Wed, 06 Jun 2012 21:24:47 GMT

@SwiftTone wrote:
Thanks guys. Did any of you have to continue making monthly direct deposits?

Yes I continue to make the $500 required to keep my account free of the monthly maintenance fee. After 6 months I will still keep my account open as I receive .25% off of my Chase auto loan for having a Chase checking account and another .25% off for having automatic payments. So It was a win-win-win situation for me.

Re: Chase Checking Account bonus question

SwiftTone — Wed, 06 Jun 2012 22:32:19 GMT

I don't plan on continuing to make direct deposits if I don't have to. I've parked atleast $1500 in there, I just want to make one direct deposit, keep $1500 in there, get $200 bonus cash, and be done with it.

Will this not work? I do plan on making Chase my main bank, but now is not the time.

thanks in advance.

Re: Chase Checking Account bonus question

Eschaton — Wed, 06 Jun 2012 22:58:51 GMT

Funny enough, I was just about to get up and open a Chase account right now. I have the voucher for $150. It says on the Chase Total Checking has no monthly service fee when you do any ONE of the following each statement period:

1) have monthly direct deposits totaling $500 or more made to this account

2) Keep the daily balance in your checking account at or above $1500

3) Keep an average balance of $5000 or more in your checking and other types of qualifying chase accounts

It futher goes on to qualify for this, two conditions must be met:

1) opening a new Chase Total Checkingg account which is subject to approval

2) deposit $100 or more within 50 days of account opening. "This deposit cannot be money held by Chase or its affiliates, nor can the bonus be used as the opening deposit."

Doesn't mention anywhere about it having to be direct deposit.

Re: Chase Checking Account bonus question

Anonymous — Wed, 06 Jun 2012 23:13:46 GMT

@SwiftTone wrote:
I don't plan on continuing to make direct deposits if I don't have to. I've parked atleast $1500 in there, I just want to make one direct deposit, keep $1500 in there, get $200 bonus cash, and be done with it.

Will this not work? I do plan on making Chase my main bank, but now is not the time.

thanks in advance.

That's what I've done. I'm just leaving $1500 in there until January. I already received the $200.

Re: Chase Checking Account bonus question

Anonymous — Wed, 06 Jun 2012 23:14:45 GMT

@SwiftTone wrote:
I don't plan on continuing to make direct deposits if I don't have to. I've parked atleast $1500 in there, I just want to make one direct deposit, keep $1500 in there, get $200 bonus cash, and be done with it.

Will this not work? I do plan on making Chase my main bank, but now is not the time.

thanks in advance.

I see no problem with your plan. You just have to keep the account open for at least 6 months to prevent a clawback.

Re: Chase Checking Account bonus question

SamsungHDTV — Wed, 06 Jun 2012 23:39:43 GMT

@Eschaton wrote:
Funny enough, I was just about to get up and open a Chase account right now. I have the voucher for $150. It says on the Chase Total Checking has no monthly service fee when you do any ONE of the following each statement period:

1) have monthly direct deposits totaling $500 or more made to this account
2) Keep the daily balance in your checking account at or above $1500
3) Keep an average balance of $5000 or more in your checking and other types of qualifying chase accounts

It futher goes on to qualify for this, two conditions must be met:

1) opening a new Chase Total Checkingg account which is subject to approval
2) deposit $100 or more within 50 days of account opening. "This deposit cannot be money held by Chase or its affiliates, nor can the bonus be used as the opening deposit."

Doesn't mention anywhere about it having to be direct deposit.

Not all coupons have a direct deposit stipulation.

Re: Chase Checking Account bonus question

Eschaton — Thu, 07 Jun 2012 00:45:07 GMT

@SamsungHDTV

That's correct, I asked the guy at Chase, he said each of them are different. Some do require it, some don't.

Re: Chase Checking Account bonus question

Anonymous — Thu, 07 Jun 2012 12:20:26 GMT

Someone already said it before I, but some of those promotions seem to be branch specific.

I live 35 minutes from my DGF. We've both gotten promotions and both were completely different terms. The only things similar were the $150 bonus and the stipulations for not getting a fee on the checking. But she had some direct deposit requirements. I didn't.

She'll be opening one within the next month. She's been passing up free money for over 2 years now :/ Drives me banana sandwich.

Re: Chase Checking Account bonus question

Anonymous — Thu, 07 Jun 2012 13:25:26 GMT

Not to derail, but i received an offer from chase to open a checking account a couple months back and at the time, i was not interested. I now wish to open one and wad wondering if there was any way to to advantage of the offer i received before?

Re: Chase Checking Account bonus question

Anonymous — Thu, 07 Jun 2012 13:28:20 GMT

@Anonymous wrote:
Not to derail, but i received an offer from chase to open a checking account a couple months back and at the time, i was not interested. I now wish to open one and wad wondering if there was any way to to advantage of the offer i received before?

Do you still have the voucher?

They usually have a few months on the "expiration date". My DGF has had her voucher in hand since February and it expires on July 31st.

Without the voucher, highly unlikely. It has a code that is used to apply the promotion offer to the checking account.

Re: Chase Checking Account bonus question

SwiftTone — Thu, 07 Jun 2012 13:39:44 GMT

The $200 bonus was scheduled to end 6/30 but they ended it early.

There is now a $150 bonus offer at the following link: https://rewards.chase.com/XSell/150/p2053-l2?