Credit

Offer at a glance

• Maximum bonus amount: $500
• Availability: AL, CA, IL, NJ, NY, TX, VA, WA. Must be opened in branch. [Branch locations]
• Direct deposit required: No
• Additional requirements: See below
• Hard/soft pull: Soft pull
• ChexSystems: Unknown, no longer sensitive (one person approved with lots of inquiries)
• Credit card funding: None
• Monthly fees: $15, avoidable
• Early account termination fee: Unknown
• Household limit: None
• Expiration date: September 30, 2021

The Offer

Direct link to offer

• Bank of Hope is offering a bonus of $500 when you open a new business checking account and complete the following requirements:
  • Maintain an average balance of at least $20,000 for the first 4 months of account opening
  • Complete the following requirements within 90 days of account opening:
    • Request a debit card and make at least one debit card purchase or ATM deposit/withdrawal
    • Register for Business Online Banking
    • Enroll in e-Statements
  • Complete one of the following two requirements:
    • Make a bill payment using Bank of Hope Online Bill Pay or ACH debit payment
    • Receive an ACH credit

The Fine Print

• Eligible Customers” are (1) new or existing customers who do not currently have a Bank of Hope business checking account, (2) be at least 18 years old and (3) furnish or have a valid Form W-9 or Form W-8BEN on fi le with Bank of Hope and are not subject to backup withholding. Customer who currently has an existing business checking account(s) is not eligible. Eligible Customer must open a new checking account and enroll to participate in the Cash Bonus Offer at the time of account opening or within 30 days of account opening. By enrolling in the Cash Bonus Offer, customer agrees to be bound by these Terms and Conditions.
• “Eligible Account” must be a business checking account opened by Eligible Customer during the Promotion Period with new money. New money is defined as funds not currently on deposit with Bank of Hope. Only the first checking account opened during the Promotion Period is eligible for the offer. Subsequent checking account(s) opened under the same account ownership type and account title are not eligible. Limit one Cash Bonus per account. A new checking account opened after closing an existing checking account during the Promotion Period is not eligible for the promotion.
• Eligible Account must remain open, and in good standing from the account opening date of your Eligible Account until the Cash Bonus is paid. The Cash Bonus will be paid to your Eligible Account within six (6) months from the account opening date.
• IMPORTANT TAX INFORMATION ($500 Cash Bonus Offer): The Cash Bonus will be reported on IRS Form 1099-INT to the primary account holder on the account, in the year received, as required by applicable law. Customer is responsible for any applicable taxes. Consult your tax advisor. | All accounts subject to applicable terms including the Bank of Hope Deposit Account Agreement, fees, and charges. Terms, conditions, and fees for accounts, products, programs are subject to change. Fee may reduce earnings. Accounts subject to approval. Participation and enrollment in a promotional offer do not guarantee eligibility or fulfillment of the promotional offer. Speak to a banker for more details.

Avoiding Fees

Monthly Fees

The regular checking account has a $15 monthly fee. Monthly service charge can be waived if a minimum daily balance of $5,000 or average daily balance of $10,000 during each statement is maintained.

Early Account Termination Fee

Wasn’t able to find a fee schedule so unsure if there is any early account termination fee or not.

Our Verdict

Previously there was a $500 personal checking bonus, that bonus ended early. It seems like you should be able to do this bonus even if you did that previous bonus. We will add this to our list of the best bank account bonuses.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

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The Offer

Direct Link to offer (affiliate link)

• Raise.com is offering 5% off sitewide with promo code BFJULY

The Fine Print

• Maximum savings $20.
• One use per household.
• Not valid on cash back gift cards.
• Expires 7/23/21 11:59PM CT.

Our Verdict

Better cards always sell out quickly. Remember to use a shopping portal, just keep in mind there are lifetime limits.

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Update 7/21/21: Bonus is back, account is now called Select checking account. Hat tip to Bill

Offer at a glance

• Maximum bonus amount: $400
• Availability: NH, MA, RI, CT, DE, NY, NJ, or PA
• Direct deposit required: Yes, $6,000+ within 90 days of account opening
• Additional requirements:
• Hard/soft pull: Soft pull
• ChexSystems: Yes
• Credit card funding: Up to $500
• Monthly fees: $25, avoidable
• Early account termination fee: $25, 90 days
• Household limit: None
• Expiration date: October 31, 2020

The Offer

Direct link to offer

• Santander is offering a bonus of $400 when you open a new Select Checking account and receive $6,000 or more in direct deposits within 90 days of account opening
• There is also a $225 bonus that we’ve discussed before.

The Fine Print

• Get $400 when you open a new Santander Premier Plus Checking account ($50 minimum opening deposit) between 8/1/2020 – 10/31/2020 and have direct deposits totaling $4,000 or more post to this account within the first 90 days starting the first business day after account opening.
• Offer is transferable until redeemed by the addressee and we reserve the right, in our sole discretion, to limit the number of times this Promotion Code may be used.
• You must be 18 years or older. Offer is not available if any account owner is a current checking customer of Santander or had a Santander checking account in the last 12 months prior to account opening.
• Offer cannot be combined with any other bonus offer. Promotion Code must be entered at new account opening to be eligible for this offer, and cannot later be added to an account, or changed, unless it is presented and applied within 14 days of account opening.
• The account needs to be open for at least 90 days and remain open in an eligible account type until payment of bonus, which will occur within 30 days thereafter.
• In addition, the account must remain open and in good standing to be bonus eligible.
• Bonus is considered interest and will be reported to the IRS on Form 1099-INT.
• If multiple accounts are opened with the same signer, only one account will be eligible for the bonus.
• For new checking account customers only.
• Offer is only available to residents of NH, MA, RI, CT, DE, NY, NJ, or PA.
• Santander considers direct deposits to be automatic electronic deposits made through the ACH network to your account by someone else, such as an employer issuing payroll or a government or retirement plan paying benefits. It may not include deposits to your account that are made by an individual using online banking, an internet payment provider, or a merchant advancing payroll using a debit card.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $25 monthly fee. Fee waived with $4,000 in direct deposits, or $25,000 in combined balances in deposits. This is waived for the first two months.

Early Account Termination Fee

$25 if closed within 90 days

Our Verdict

We recently saw a $300 bonus, but that didn’t require a direct deposit and it was significantly easier to keep the account fee free. This deal might still be worth doing for those that can easily meet the direct deposit requirements for the bonus and keeping the account fee free. We will add this to our best bank bonuses.

Hat tip to Samosa

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times

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People are now successfully product changing their Citi cards to become the new Custom Cash card. Reader Shz was able to change their ThankYou Preferred into a Custom Cash and steventrev was able to change their Dividend into a Custom Cash card. (The latter product change also, reportedly, had its Dividend cash back converted into ThankYou points which is interesting.)

Let us know if you were able to change any other card into a Custom Cash. Might be possible to even product change co-branded cards to become a Custom Cash card, as we’ve seen in the past.

The Custom Cash card uses the ThankYou points system and allows points to also be cashed out at 1 cent per point. The card launched in June and initially was not accepting product changes, but today they began allowing them. Some say the product change can even be done via chat.

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Update 7/21/21: Points that were due to expire in 2021 will now expire at the end of 2022. Hat tip to Eye Of The Flyer

Original post: Delta has sent out e-mails to SkyBonus members (Delta’s business rewards program) regarding a number of relief measures due to COVID-19:

• Membership will automatically be extended through 2021 (normally you need to spend $5,000+ across five or more travelers each calendar year otherwise the account becomes deactive). Business customers that signed up in 2019 or 2020 will also be automatically extended through 2021
• Elite status, points and travel award certificates will be extended through December 31st, 2020

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Offer at a glance

• Maximum bonus amount: $25 ($50?)
• Availability: Nationwide to all Chase checking customers
•  Direct deposit required: None
• Additional requirements: None
• Hard/soft pull: Soft
• Credit card funding: Unknown
• Monthly fees: None
• Early account termination fee: Unknown
• Household limit: None listed
• Expiration date: September 2, 2021

The Offer

Direct Link to offer

• Get $25 when you open a new Chase First Banking account. It’s a debit card for kids ages 6-17 with no monthly service fee.

The Fine Print

• For parents/guardians interested in teaching their child how to manage money using a debit card with the child’s name on it. The parent/guardian is the owner of this account and must have an online profile and one of these other checking accounts at account opening: a Chase Secure CheckingSM, Chase Total Checking®, Chase Premier Plus CheckingSM, Chase SapphireSM Checking, Chase Better Banking® Checking, Chase Premier CheckingSM, Chase CheckingSM or a Chase Private Client CheckingSM account. Benefits offered to these checking accounts do not apply to Chase First Checking accounts. Only the parent/guardian who opened the account can fund, view or manage this account. You can open a Chase First Checking account for your child who is 6-17 years old.
• Offer valid until 09/02/2021.
• To receive the bonus: Open a new Chase First Checking account, which is subject to approval. We’ll deposit the bonus into your new Chase First Checking account within 15 days of account opening.
• Limit 2 Chase First Checking related bonuses per customer.
• To receive this bonus, the account must not be closed or restricted at the time of payout.
• Bonus is considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

Avoiding Fees

There is no Monthly Service Fee for Chase First Checking.

Our Verdict

We wrote about Chase First Banking before, and they’ve now added a $25 bonus as well. The fine print indicates that you can get two Chase First Checking bonuses per customer which might mean you can add two kids and get $25 each for a total of $50. Worth clicking through separately each time if you try.

We don’t usually post small bonuses, but this one is being sent out widely and is a no-requirements bonus which some will find worthwhile.

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The Chase Freedom Flex and Freedom Unlimited cards are again offering new signups a 0% APR rate on purchases and balance transfers for 15 months after card opening. These had gone away during Covid and have now returned.

Hat tip to reader HelpMeBuildCredit

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Bank of America’s Cash Rewards card, now called Customized Cash Rewards, has no annual fee and offers 1% cash back on all purchases; 2% or 3% on select categories. It’s notable that there’s also a Secured version of the card which is very similar to the ordinary version and is one of the best secured cards available.

Bank of America Customized Cash Rewards Secured Card

Card Details

• No annual fee
• A minimum refundable security deposit of $300 (maximum of $4,900) is required to open this account.
  • Your maximum credit limit will be determined by the amount of the security deposit you provide, your income and your ability to pay the credit line established. If you provide a deposit that exceeds the calculated maximum amount based on your ability to pay, a check will be returned to you for the difference.
• 3% foreign transaction fee
• Rewards earnings rates go as follows:
  • 3% cash back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings
  • 2% cash back at grocery stores and wholesale clubs
  • 1% cash back on all other purchases
• You’ll earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then earn 1% with no limit. Each month, as you plan for future purchases, to change your 3% choice category you must go to Online Banking or use the Mobile Banking App. Rewards do not expire.
• Cash rewards can be redeemed as a statement credit to your credit or a deposit to your Bank of America checking, savings, or Merrill investing account.
• 23.99% APR
• No signup bonus on the Secured card version

Our Verdict

Not many Secured cards come with no annual fee and still offer rewards. There are a few other option that offer the same, though the Bank of America Customized Cash Rewards card is from a major bank and could be helpful in establishing a relationship with the bank. Bank of America also offers a Secured version of their Unlimited Cash Rewards card, so be sure to compare which is best for you. The Discover secured card is another good option for a secured card. All of these are solid options for someone who is struggling to get a credit card and wants to build a credit history.

Hat tip to reader Cyan

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Alongside their personal Unlimited Cash Rewards card, Bank of America plans to launch a similar business card in October called the Business Advantage Unlimited Cash Rewards. The bank describes it in their press release with similar details as the personal version, with no annual fee and the same 1.5% cash back on all purchases.

Like the personal version, the business card will also have increased earnings rate of 25 – 75% for Business Preferred Rewards clients which can bring up the overall earnings rates to as high as 2.62% on all purchases.

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The Offer

Direct Link to offer

• Get $110 Gamestop e-gift card for $100. Limit 1.
• Get $50 Chipotle e-gift card for $45. Limit 2.
• Get $50 Domino’s e-gift card for $42.99. Limit 2.

Our Verdict

Some will find these useful.

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