Offer at a glance
- Maximum bonus amount: $600
- Availability: Nationwide
- Direct deposit required: Yes, no minimum. Click here to view what triggers this bonus.
- Additional requirements: None for checking; $15,000 balance for savings
- Hard/soft pull: Soft
- Credit card funding: Can fund up to $50 with a debit card online (prepaids do not work). Cannot fund with debit or credit in branch.
- Monthly fees: $12, waivable
- Early account termination fee: Bonus taken back if closed within six months
- Household limit: None listed
- Expiration date: None
The Offer
No direct link to offer, sent out via e-mail. Subject line is ‘<name>, we want to reward you with an up to 35,000 Southwest Rapid Rewards points offer.’
- Chase is offering up to 35,000 Southwest points for opening a new checking & savings account. The following offers are available:
- Get 15,000 points when you open a new Chase Total Checking and set up a direct deposit
- Get 15,000 points when you open a new Chase Savings account and deposit $15,000+ and maintain $15,000 balance for 90 days after enrollment
- Do both of the above and receive 35,000 Southwest points
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Savings Account
The Chase Savings Account comes with a monthly service fee of $5. Monthly fee is waived with any ONE of the following:
- Keep a minimum daily balance of $300 or more
- Have at least one repeating automatic transfer from your Chase checking account of $25 or more; one time transfers do not qualify
- Have a linked Chase Premier Plus Checking, Chase Premier Platinum Checking, or Chase Private Client Checking account
Checking Account
The Chase Total Checking account comes with a monthly service fee of $10-$12 which is waived if complete any of the following:
- Have monthly direct deposits totaling $500 or more
- Keep a minimum daily balance of $1,500 or more in the checking account
- Keep an average daily balance of $5,000 or more in any combination of qualifying Chase checking, savings and other balances
Early Account Termination Fee
If you close either account within 6 months of account opening, you will forfeit the bonus.
Our Verdict
Normally we see a bonus of up to $600. I think most people would prefer that cash bonus that only 35,000 Southwest points, especially with the recent Southwest devaluations.
Hat tip to MtM
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
