After app-o-rama, the next best thing is to do a bank-o-rama. I made over 1K in bank bonuses last year from Bank of America, Chase, Citibank, etc. A lot of time, they only do a check on what is called a Bank Chex System. Some banks don’t even check your credit report. Even if they did, the hits will go away in about six months.
Before I list all the current bonuses, lets go over a few important points. First, make sure you know the terms of the bonuses. Some banks required you to have Direct Deposit. Some have minimum deposit or bill payment requirements. Then the dreaded part of closing accounts since some have fees for closing early. You need to know the “when it is okay to close” date without paying any fees.
I suggest you follow these steps to maximize all your bank bonuses:
- Open a paypal account. Certain banks will count Paypal’s deposit as Direct Deposit. Here’s a complete list.
- Make $25 by requesting an ING referral link: No fees whatsoever, all you need is deposit $250 to get $25 bonus, once you get it, you can withdraw, simply write back and say you want an ING referral and I will send you one.
- Make $35 by requesting a Bank of America referral link: All you need is deposit $100 to get $35 bonus (50 days wait), once you get it, you can withdraw and cancel the account, simply write back and say you want an BOA referral and I will send you one. (Do $1 paypal or ING deposit to meet the DD requirement to get away from fees)
- Make $20 by requesting a Virtual Bank referral link: No fees whatsoever, all you need is deposit $100 to get $20 bonus, once you get it, you can withdraw, simply write back with your first and last name and say you want an Virtual Bank referral and I will send you one. You can refer people to make up to $1000.
- Make $25 by requesting a 5.10% Amboy Direct Premium Savings: This one the highest savings online account, and it comes with a bonus. You must deposit 3K for 90 days to get the $25 referral bonus. Send me an email to [email protected] with your first and last name, with Amboy Referral on your subject line.
Steps to open Paypal or add new bank accounts to Paypal Account:
- Go into your Paypal account
- Hit the withdraw tab on the main page
- Under options, click on Transfers fund to your bank account
- On this page, right under To, you see Add bank account tab.
- Enter bank name, account number, routing number.
- Wait for the two initial deposits and verify it in your Paypal account.
- Then send a dollar each month to your bank account to meet DD requirement.
Now you know how much I love Bank of America. Once you have an account with them, you can open unlimited accounts with them and no hard pull is done on your credit report.
- BOA $50 bonus: Good till 12/31/07
- BOA $100 bonus: offer code CH100CTA
- BOA $100 bonus: offer code CH100CSP
With BOA, you can make $250 with Keep the Change program. Just keep on pumping $1.01 gas 250 times. Make more money with their affiliates program: $50 gas card and $50 Lowe’s gift card. Also, $15 more with scheduled transfer.
Make sure you use their online message system within your account to complain about your bonuses. Just send them an email asking about your bonuses. You always want to transfer $1 from Paypal to your BOA’s account to meet their DD requirement. Once you get your bonus, transfer all your money to your original account, then close it asap. Always keep one open since more bonuses will show up throughout the year.
Chase specifically tell you that only 1 bonus per year, however, they do not care. Here’s their $100 bonus good till 6/31/07. With Chase, your account must remained open for 6 months before closing. Otherwise there will be a fee. Paypal $1 each month to cover DD requirement. If you see another Chase bonus, just open it at your local bank and make sure the CSR guarantee you the bonus.
Unlike Chase and BOA, Citibank will only give you 1 bonus for your lifetime. The best one right now is their $200 bonus. There is no link to it, and you must call the Citibank number 1-866-422-0592. Mention the code MVS2 to the CSR for your $200 bonus. Make sure you make two monthly bill payments each month for 6 consecutive months to get your money. Ask the CSR for more details.
If you don’t want the bill payment route, there is the Citi $100 ultimate savings account bonus.