Sorry for the late response; I was traveling. My wife and I do use separate email addresses when applying for accounts. We typically close bank accounts after 6 months or so unless there is some compelling reason to keep an account open. I primarily use Doctor of Credit for bank bonuses. I read the terms carefully and browse through recent comments on that site.Ron, thank you for sharing this...I have been lazy with looking for brokerage and bank bonuses but want to get in the habit of doing so strategically.Here’s my data point:
1/8/24: Opened account with $25
1/11/24: Trial deposits came in from Ally Bank
1/18/24: Transferred $101k from Ally Bank
1/31/24: Received $165 in interest
2/29/24: Received $342 in interest
3/31/24: Received $367 in interest
4/25/24: Received $1500 bonus
4/30/24: Received $352 in interest
5/2/24: Transferred $103,650 to Ally Bank, leaving $100 in Capital One account
5/15/24: Spouse opened Capital One account to start process over
I think it works out to something like a 10% annualized rate.
Additionally, we did the following bank bonuses this year (some are local banks):
Travis Credit Union – transferred $2k for $350 bonus x 2 people = $700
Star One Credit Union - opened account for $200 bonus (no other requirements) x 2 people = $400
1st United Credit Union – 10 debit card transactions for $200 bonus x 2 people = $400
Wells Fargo Checking - $1k deposit for $325 bonus for spouse = $325 (not yet received)
Citi Access Checking – 2 transfers totaling $1500 or more for $300 bonus x 2 people = $600
U.S. Bank Silver Checking - deposit $5k for $400 bonus for spouse = $400 (not yet received)
Our gross Income for 2024 should be roughly $160k, with $25k of that in interest; we’re in the 12% federal and 4% (California) state tax brackets.
Also, I didn't think about being able to do each offer x2 people. (They likely require separate email addresses when signing up)?
So you keep all accounts open then after receiving the bonuses? Doesn't this get difficult / monotonous to keep track of if you keep all of them open?
Finally, do you have any resources for monitoring these bonuses? Example: Dr. of Credit, etc
Statistics: Posted by Ron Ronnerson — Tue Jun 11, 2024 9:37 pm — Replies 8 — Views 1133