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Posted by tribu on Jun-26-2005 02:12:

Bank One's recent offer

This is an offer I came across scanning the daily mail. Currently, Bank One is becoming part of J.P.Morgan-Chase. Their current offer is that, if you open a Free (Free meaning no annual fee) checking account with them (minimum deposit - $100), they will give you 75 dollars "interest". The money will be immediately added to your account, but the account must be open for 6 months. If you close the account before 6 months is over, 75 dollars will be deducted from your final balance.

Alot of TAs ask for financial advice and this could be a part of that. If you use 150 dollars to open a checking account with money you had set aside for savings or cds, you could make 50% interest over six months; this is a much better rate than you can get with most savings options, especially if you have the money and the self-control to not spend it.

According to the advertisement, this offer needs a physical coupon, so you may have to contact a local Bank One about the offer. Anything you make is interest so it is taxable. Im hoping the mods do not see this as spam (Im clearly not an employee of Bank One and I don;t hold an account there), but if they do they're more than welcome to close this thread or instruct me to delete it.

Posted by BTG on Jun-26-2005 02:13:

pfft, $75. TD bank gives you an Ipod to sign up.

Posted by tribu on Jun-26-2005 02:14:

quote:
Originally posted by BTG
pfft, $75. TD bank gives you an Ipod to sign up.

Id rather have the cash

Posted by BTG on Jun-26-2005 02:39:

but its only $75

Posted by tribu on Jun-26-2005 02:42:

quote:
Originally posted by BTG
but its only $75

They pay you 75 dollars to not spend 100. I would love more offers like this.

Posted by igottaknow on Jun-26-2005 03:07:

thx you very much but, i'll keep my money under my mattress.

Posted by tribu on Jun-26-2005 03:24:

quote:
Originally posted by josh4
i remember reading or seeing something somewhere once about this guy that would always be transferring balances between cards with better offers and hed always save a lot of money and sometimes even make it by doing this

If you have the funds and the self discipline to do this, you can often find some good deals and as youve said, make a bit of extra money doing things like this. It may reflect a bit poorly on your credit, but if you have the cash and other assets to back it up, few people will care.

The best way to use balance transfers is if youve overextended yourself on credit and need a short time to pay it off. When you sign up for a new credit card, they often offer short-term balance transfer cash so that you can consolidate your debts (move them all to one debt holder). Often, they will let you have the money for 6 months before charging interest. If you overextended yourself a bit and have a plan to pay it off in the allotted time (and you stick to it), these deals can often be quite helpful in paying your debts while avoiding interest.

Posted by LeopoldStotch on Jun-26-2005 03:32:

i thought their promotion was a "free ipod shuffle" ??
..

but that's a damn good offer .. if that was posted on top of the bank one home page, rather than that dumb ipod shuffler, then i would be jumping on that offer ..

Posted by D-res on Jun-26-2005 04:48:

Re: Bank One's recent offer

quote:
Originally posted by tribu
if you have the self-control to not spend it.

fuck i'm out