Chase Bank Account Bonus

[UncleB]

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@Anonymous wrote:
My purchase limit on my card was 5k per day at the time, transaction was over 4 times that amount, so in my opinion it should’ve warranted a call from BoA to go through.

It was a vehicle purchase, from a reputable dealer, so not a ‘shifty’ merchant I suppose, I would’ve rather had to call the bank to authorize such a large amount personally.

None the less just letting others know about the sign up bonuses in case they hadn’t come across it yet.

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If the purchase amount was over your daily limit then it sounds like something was, indeed, wrong. 

In any case thanks for the heads-up on the Chase sign-up bonus. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
My purchase limit on my card was 5k per day at the time, transaction was over 4 times that amount, so in my opinion it should’ve warranted a call from BoA to go through.

It was a vehicle purchase, from a reputable dealer, so not a ‘shifty’ merchant I suppose, I would’ve rather had to call the bank to authorize such a large amount personally.

None the less just letting others know about the sign up bonuses in case they hadn’t come across it yet.

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You wasted a ton of potential rewards by using a debit card for a $20,000 purchase.

I guess if I were a bank computer, I'd question why you're making a purchase like that on a debit card. At that point, you're almost better off writing a check or getting a cashier's check. 

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Debit card swipe fees are 0.05% vs. the 1.50-4.00% swipe fees for a credit card. On $20,000, they don't mind taking a $10 hit if it means closing the sale now instead of letting you run home or to the bank for a check. Most dealers do charge a fee for credit cards, which, unless you coordinate several high-end cards' bonuses, you may or may not be in the green.

Even Amazon.com gives an extra 2% bonus when you buy a gift card for yourself ("reload") with a debit card (or ACH for that matter), because it's cheaper than all the credit card swipe fees.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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@Anonymous wrote:
My purchase limit on my card was 5k per day at the time, transaction was over 4 times that amount, so in my opinion it should’ve warranted a call from BoA to go through.

It was a vehicle purchase, from a reputable dealer, so not a ‘shifty’ merchant I suppose, I would’ve rather had to call the bank to authorize such a large amount personally.

None the less just letting others know about the sign up bonuses in case they hadn’t come across it yet.

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You wasted a ton of potential rewards by using a debit card for a $20,000 purchase.

I guess if I were a bank computer, I'd question why you're making a purchase like that on a debit card. At that point, you're almost better off writing a check or getting a cashier's check. 

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Debit card swipe fees are 0.05% vs. the 1.50-4.00% swipe fees for a credit card. On $20,000, they don't mind taking a $10 hit if it means closing the sale now instead of letting you run home or to the bank for a check. Most dealers do charge a fee for credit cards, which, unless you coordinate several high-end cards' bonuses, you may or may not be in the green.

Even Amazon.com gives an extra 2% bonus when you buy a gift card for yourself ("reload") with a debit card (or ACH for that matter), because it's cheaper than all the credit card swipe fees.

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If you didn't use a PIN, the dealership is paying the equivelent of a CC swipe fee. 

[Revelate]

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@Anonymous wrote:

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If you didn't use a PIN, the dealership is paying the equivelent of a CC swipe fee. 

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I don't think that's the case?

VISA transactional network does handle different classes of cards, well, differently, and debit is no exception to that?  Or at least reduced presumably.

[Anonymous]

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@Revelate wrote:

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@Anonymous wrote:

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If you didn't use a PIN, the dealership is paying the equivelent of a CC swipe fee. 

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I don't think that's the case?

VISA transactional network does handle different classes of cards, well, differently, and debit is no exception to that?  Or at least reduced presumably.

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There's no such thing as a Visa debit network. Debit runs over Pulse, etc. Banks want you to choose "credit" when using a debit card so they can get paid more money.  

[Anonymous]

I received my $300 after pushing $30 from Etrade and $100 from Vanguard. Both came up as Direct Deposits in my alerts.

[Anonymous]

I would say putting 15k in a BOA or Chase savings account is an unwise decision. With some banks and credit unions offering 2 percent now you would make more than $200 putting your money there instead.

I did the $300 checking bonus. I think it is $222 after they take taxes out. I diverted $250 a paycheck to the account and closed after 6 months.  When you are ready to close just bring the balance to zero and send secured message to close it.   Bank of America checking is my main account.  I like Bank of America better.  Easier interface to use both on the web and mobile apps. 

I have M&T, Wells Fargo and NFCU checking accounts as well.  I like BOA the best. Maybe as I have had it so long.  

[Anonymous]

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@Anonymous wrote:

I would say putting 15k in a BOA or Chase savings account is an unwise decision. With some banks and credit unions offering 2 percent now you would make more than $200 putting your money there instead.

I did the $300 checking bonus. I think it is $222 after they take taxes out. I diverted $250 a paycheck to the account and closed after 6 months.  When you are ready to close just bring the balance to zero and send secured message to close it.   Bank of America checking is my main account.  I like Bank of America better.  Easier interface to use both on the web and mobile apps. 

I have M&T, Wells Fargo and NFCU checking accounts as well.  I like BOA the best. Maybe as I have had it so long.  

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It only needs to be there for 90 days. At 2.00% that's $75. OP's offer is $300 (both - checking only), plus the $0.38 interest.

[EAJuggalo]

I'm actually going into Chase this morning to sign up for this deal.  As long as I can get the Disney Debit card with it.  I'm taking my family to Disneyworld next year and am going to use this account to save for it before paying for it with my CSP.

[taggl00]

the crappy part is you have to pay taxes on this "bonus"