July 12th, 2010
Awesome Cash Bonus Offers From Big Banks!
Cash bonuses are the cherry on top of any new financial product, and lucky for you, these deals from big banks are as sweet as can be. These offers won’t last long because there is only so much free cash to give out, so act fast and check out what you are eligible to earn now.
December 29th, 2009
Capital One’s SmartCents Review
Capital One’s SmartCents program is making it easier for consumers to tuck away more money in their savings, with the help of Capital One chipping in a few cents.
SmartCents enhances your savings for certain transactions you do on your checking account: for every debit card purchase, online bill pay, or direct deposit, Capital One automatically transfers $.50 from your checking account to your linked savings account, plus Capital One will match 100% of your SmartCents transfers for the first three months, and then 5% after that. Now, if you aren’t a heavy debit card user, the 5% matching contribution may not provide enough benefit to switch to Capital One. Or if you have a hefty-sized checking account, a high-yield checking account or money market account may grow your money faster with high interest.
The first three months are your optimum earning window, when 100% matching power means that saving $100 in SmartCents transfers will earn you $100 of free money, courtesy of Capital One. There is an annual matching contribution cap of $300, which bests the $250 cap of Bank of America’s comparable Keep the Change program.
An extra benefit in this program is Capital One’s current promotion that offers new customers a $15 bonus for the first direct deposit and an additional $15 for the first online bill payment. That is an extra $30 in free money.
For debit card users looking to save more, this is a great deal. It’s a truly free checking account that earns you extra change for your savings with no additional monthly service fee, minimum balance requirement, or maintenance fee. However, you are required to open a savings account and options are limited: the free, no minimum balance Simple Savings account is not available in all areas, and the InterestPlus Online Savings account earns a respectable return of 1.6% APY with a minimum balance of $2,500, but 0% APY for accounts less than $2,500. If you want better earning power than that, you may have to open an outside savings account.
More and more programs, such as BofA’s Keep the Change, Wachovia’s Way2Save, and US Bank’s START, have banks chipping into consumers’ savings. What makes SmartCents a great savings program to enroll in right now are the additional incentives, like the $30 bonus and the first 3 months of 100% matching contributions, that will add an extra jingle in your pocket.
At Credit Karma Blog, what goes around comes around… So what do you think about this post? Agree, disagree, or have something more to say? We’d love to hear your reactions!
July 23rd, 2009
Checking and Savings Account Offers You Can’t Afford To Miss
Cash in on these special, limited-time bank promotions to earn extra money by simply opening a Bank of America Checking, WaMu Free Checking, or WTDirect Savings accounts to get cash back bonuses. Time is of the essence, so if you’re thinking of opening an account, don’t leave $100 or $150 in the big banks’ vaults when it can be in your wallet by acting now.
Here’s what you need to know –
WTDirect is offering up to a $150 cash bonus for new savings account clients, based on the account balance.
Expires July 31, 2009
Terms: Deposit at least $10,000 and you receive $25 bonus; $20,000 gets $50 bonus; $30,000 gets $75 bonus, $40,000 gets $100 bonus, and the top tier of $50,000 qualifies you for $150 bonus. Regardless of the cash bonus, your savings will earn 1.76% APY.
Good Stuff: WTDirect is known for a savings rate in the top 5% of US banks. The bank ran a similar bonus promo last year and ended it within a week because of the high demand; so be warned that this offer might be cut even shorter than expected.
Fine Print: You must open and fund your account with at least $10,000 before July 31, 2009 and keep your funds at WTDirect until October 31, 2009 to qualify for the cash bonus.
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Not to be outdone, Washington Mutual, now a division of JPMorgan Chase Bank, is offering a $100 cash bonus for opening a new WaMu’s Free Checking account.
Expires August 5, 2009
Terms: Open a new checking account with a minimum deposit of $100 of new money (not currently held at a WaMu or Chase bank). Within 60 days of account opening, initiate a direct deposit OR have at least five debit card purchases posted to your account.
Good Stuff: WaMu Free Checking offers no monthly service fees, free checks, free online banking and bill pay, free ATM cash withdrawals at any ATM, access to 14,000 WaMu and Chase ATMs nationwide, and a refund on one overdraft fee per year.
Fine Print: Offer is limited to one bonus per household. The reward will be deposited directly into your account after either the direct deposit OR debit card requirements have been fulfilled.
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Bank of America is pulling in new customers with a $100 cash back bonus to open a new personal or business checking account.
Expires – No expiration date posted, but these offers tend to jump in and out of the market.
Terms: Here’s how to get your $100: Get $75 back when you open a qualifying personal or business checking account with a minimum $250 deposit, plus you must use your debit card to make a purchase within 30 of opening the account. Bring home the additional $25 simply by making two online bill payments within 30 days of opening the account.
Good Stuff: Bank of America’s checking account offers free online bill pay, free online and mobile banking services, and the Keep the Change program can save you cents on every purchase.
Fine Print: Only new customers are eligible and the account must be opened online or at a Bank of America banking center. If you are deemed eligible, Bank of America generally pays the cash bonus within 90 days of the account opening.
The clock is ticking on these limited time offers, so if you qualify for any of the above promotions and are looking to open a savings or checking account, think about cashing in on the opportunity to earn up to $150. There’s no better way to pad your savings than by putting the banks’ money in your pocket.
