[Targeted] Chase Southwest 35,000 Checking & Savings Bonus

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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

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