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Stupendous
 
Any reason not to do the open account get $X offers?

I received an offer that if I open a checking account at the new Chase just down the street I will receive $125. The minimum deposit is $100 (which is all I would do) and you have to keep the account open for 6 months. The account is free if you do direct deposit which I would deposit just enough money to cover 1 monthly bill.

I'm no where near desperate for money but it seemed like an easy $125 (less taxes) so why not? Or will there be some catch? I'd close it after the 6 months.
Old 03-27-2009, 11:43 PM Stupendous is offline  
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VapoRub
 
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read the fine print, who knows
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Old 03-28-2009, 01:13 AM VapoRub is offline  
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el aye
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Your credit score can get dinged.
Old 03-28-2009, 02:08 AM el aye is offline  
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wigglesworth
 
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read the fine print, who knows

this++

credit companies aren't looking to give out free money atm, they want people to actually give them money now that the shit is down.
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Old 03-28-2009, 02:10 AM wigglesworth is offline  
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Stereodude
 
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Your credit score can get dinged.
Uh... Bank accounts don't show up on your credit report because they're not credit.
Old 03-28-2009, 08:15 AM Stereodude is offline  
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Stereodude
 
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Originally Posted by Stupendous View Post
I'm no where near desperate for money but it seemed like an easy $125 (less taxes) so why not? Or will there be some catch? I'd close it after the 6 months.
I've gotten several of these offers myself and have been considering them. The only catch I saw was that you'll have to pay income tax on the money when they send you a 1099 at the end of the year.
Old 03-28-2009, 08:19 AM Stereodude is offline  
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fine print
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Old 03-29-2009, 08:02 AM fight the sight is offline  
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fine print
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Old 03-29-2009, 03:30 PM oleo is offline  
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Aseras
 
fine print, minimum balances, a certain balance for so long to qualify or fees for trivial things. early cancellation/closure. all kinds of things.
Old 03-30-2009, 08:51 AM Aseras is offline  
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el aye
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Uh... Bank accounts don't show up on your credit report because they're not credit.

http://www.fatwallet.com/forums/finance/260724
Old 04-06-2009, 01:45 PM el aye is offline  
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of those institutions I've done business with a few of them listed as doing hard pulls and I have no hard pulls from them on my credit report... grain of salt.
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Old 04-07-2009, 11:37 AM Dongboy is offline  
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im2smrt4u
 
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It is also worth noting that the bonus is reported as interest income and therefore taxed. Something to keep in mind.
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Old 04-07-2009, 12:03 PM im2smrt4u is offline  
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Stupendous
 
And I mentioned that the $125 is taxable in my original post.

I went ahead and signed up for it over the weekend. The only stipulations were: $100 min deposit, direct deposit (which I setup to just pay my rent with), and keep the account for 6 months. My credit score was ~800 back in December so I wasn't worried if they did do the credit check.

And of course they tried to get me to sign up for other stupid services which I denied.
Old 04-07-2009, 01:31 PM Stupendous is offline  
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