Hi friend, welcome back to my blog. I am always on the go to hunt for the best way for you to make some extra cash. Today, there is an easy way to make $200 that I don’t want you to miss. A $200 can definitely go a long way especially in this time of high interest, inflation and skyrocket gas price. As you already can tell from the title, Chase is offering $200 for any new customer who wants to create a new checking account.
HOW DOES IT WORK?
It is super easy. All you have to do is to go to Chase online or go to your local Chase branch, open an account, set up direct deposit within 90 days of coupon enrollment. You will receive $200 directly to your account within 15 days.
IS THERE A CATCH?
Chase charges a $12 monthly service fee. But if you want to pay absolutely $0 for this checking account, there are 3 ways to do this:
- Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment network, or (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network.
- For me, I changed my pay stub direct deposit from WellsFargo to the new Chase checking account. If you make over $500 a month, you will have no issue with this requirement.
- OR a balance at the beginning of each day of $1,500 or more in this account. This means that you should try to keep your balance at the minimum of $1,500
- OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances. If you already a long time Chase customers and have other accounts with them, you can link all these account together to keep the minimum balance of $5,000.
DOES CHASE BANK REQUIRE A CREDIT CHECK TO OPEN A CHECKING ACCOUNT?
Yes they do. However, Chase accesses your credit information using a soft inquiry, also known as a soft credit check, which DOES NOT impact your score. A soft credit check is often done by you or another authorized person (such as your employer). These can occur when you request a copy of your credit report or want to find out what your credit score is. A hard check is when a lender or creditor runs it to help you buy a home or apply for a credit card. Your credit score can go back to normal after 30 days in a soft pull but can stay up to two years after a hard pull.
DOES CHECKING ACCOUNT IMPACT YOUR CREDIT SCORE?
MyBankTracker states that a checking account does not represent a line of credit and isn’t recorded in your personal credit reports, a checking account can negatively affect your credit score. Because of that, it’s important to keep your checking accounts in good standing.
