Banking Promotions: Nov 2020 - Jan 2021

[newmomnewme]

After getting a few cc apps denied in October, I started checking out upcoming banking promotions. I stand to net over 2k in promos when I finish for a few hours of admin work (switching DD and maintaining the spreadsheet). 

Special Thanks to @Anonymous @DaveInAZ  and others who offered the best advice and input to get me started.  I had to read the fine print and change some plans since I don't have unlimited DD options 😂😂😂😂

For mine, I considered the bank, promotion/requirements - timing etc, and most importantly action(s) needed to avoid monthly fees. 

My Considerations (YMMV)

- I notice that most require keeping the account open for a minimum of 6 months AFTER the promo is received. 
- Savings promos are lower but requirements are higher

- The deadlines are important since the promos change often! 

- Some require actual DD others any ACH will do. 
- I'm limiting myself to 4 promos MAX per quarter. I don't want any issues. 
- I plan to close a few that I don't need.

As of today, this is where I stand: 

1. Bank of America - $300 for $4000 DD within 90 days (opened 10/3 paid promo 12/11)

2. CapitalOne - $400 for $1000 DD within 60 days (opened 11/16

3. PNC - $200 for $2000 DD within 60 days (opened 11/22 paid promo 1/2)

4. BBVA - $200 for $500 within 60 days (opened 11/29

Ill add more info as I get it. I thought this might help someone here. It surely helped me!! 

[simplynoir]

This is probably the best bank account reference for bonuses and relevant datapoints

https://www.doctorofcredit.com/best-bank-account-bonuses/

[newmomnewme]

@simplynoir  You are a gem!!! Thank you. I am so happy that I can change my DD online. I can't imagine going into the HR/Payroll department every two weeks to change the DD banks and amounts 😂😂😂

Have a great week ahead! 

[Mr_Mojo_Risin]

Cap One has been sending me a 250$ promo. If I spend 500 on their debit card in 30 days I get 150$ or spend 1500 in 90 days get 250$. No DD required which is good.

With my employer I am able to change DD myself online which would make chasing promos a little easier.

Thanks for sharing your stats and experiences, you seem to be doing well!!

[newmomnewme]

@Mr_Mojo_Risin  that sounds like an easy one for you! I especially love the easy ones. I still want to know how many is TOO many? 

[Mr_Mojo_Risin]

---

@newmomnewme wrote:

@Mr_Mojo_Risin  that sounds like an easy one for you! I especially love the easy ones. I still want to know how many is TOO many? 

---

4 every quarter may end up being too many. Especially if they're pulling Chex. Hopefully some of the members who are a little more experienced in this aspect will chime in!

[newmomnewme]

Bank of America and PNC paid SUB already. Just waiting for BBVA and Cap1 (end of March). I missed M&T and HSBC..just saw new 3/31 deadline for HSBC $450 but I'll wait to see if they offer me more @Anonymous got $600, I'll wait for that. 

I am still eyeballing Chase and waiting to see about M&T. I really want to close Wells before they charge me a monthly fee.