Chase currently has an offer that appears to be paper only (there’s a less-good version of it online) where, if you open a savings account and deposit at least 15K in it, they give you $300. If you open a checking account and set up direct deposits within 10 days of opening, you get another $200. You need to keep a positive balance in checking/a minimum of 15K in savings for 3 months to be eligible for the money. If you close the account before 6 months have elapsed, you forfeit the money.
I have about 50K in savings with a credit union that I’m meaning to invest. I’ve calculated that I want 15K in easily liquidatable funds as is (6 months of living expenses if I lose my job), so it seems like a free $500 if I sign up and put in a calendar reminder to close the account in 6 months. There aren’t any maintenance fees for the accounts, only fees for overdrafting. So long as I don’t have any overdraft (never been an issue for me in the past), I should be fine to close the account without impacting my credit score.
What’s the catch? I assume a bank like Chase wouldn’t give me an option like this unless they get more than they give. What am I missing?
Submitted March 13, 2018 at 11:19AM by Saith_Cassus http://ift.tt/2Dps87n
