Personal Investment Chatter

Chase gave me a $600 offer if I hold 15k in their savings account for 90 days. I only have one other, regular PNC checking account. Is this a good offer to switch? I have the CSR if that matters

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works at

I got that too, but my fine print says you get the credit after 90 days, but if you close your account within 6 months they charge back the credit FYI

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Keep it open for 6

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Basically a 4% guaranteed return (less taxes) in 3 months. If you have the money sitting around earning nothing, there’s no down side. You can always move it to a HYSA or into the market afterwards depending on the purpose of the funds.

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👆🏻

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These types of things are available frequently and often are publicly available. They come and go but if you have a flexible direct deposit there are even more options. Current list linked below is smaller than usual but the Citi offer is similar. HSBC had a $750 offer for direct deposit late last year which was the easiest and most profitable one I've done as you could just transfer out to brokerage account or pay your credit card with it (no balance requirement). This site is also great for clearly spelling out bonus terms so you don't miss it on a technicality. They also discuss monthly fees, and if any, what is required to waive them. https://www.doctorofcredit.com/best-bank-account-bonuses/

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How’d you get that offer? Can anyone get that offer?

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They advertise it all the time

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Can I switch my 15k from BoA to Chase and earn that offer?

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I got the same offer. I have a amazon visa

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Ps you don't have to "switch" it is ok to have multiple bank accounts (unless they are charging you fees). Get the bonus, see if it offers better features than your current bank, then decide whether one or both are worth keeping open. I did a similar chase checking/savings promo a little less than a year ago. I like chase credit cards but their checking account didn't offer anything I didn't already have and the savings rate is pathetic so after the bonus I closed it, kept the checking for a while, then closed that as well.

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Does it impact your credit score or anything else to open and close checking/savings accounts?

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No impact on credit as long as no hard pull (all then if unclear, it is rare). If you close an account make sure they don't charge a fee that causes the balance to go negative Most bonus terms say something like must keep open for 90 days or not eligible if you have been a customer in the last x years but beyond that they don't really care. Some people do 20+ I'm a year, and I wouldn't recommend that, but very safe to do several a year if you can handle the additional tracking.

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Think citi gives 400 + 100 for 60 days for the same 15k. $100 is for a couple of direct deposits.

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I did one similar with Chase, but note you have to wait another 60 days for the money to hit hour account, so really it is 4% guaranteed over 5 months. Still really good, and worth doing, but wanted to call that out as it surprised me.

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