CHASE $100 or $125 Bonus

Chase Bank $100 New Checking Account Bonus. Expires 5/31/08
For existing Chase customers, the offer is $125. Expires 6/30/08

In a Nut Shell:
Open a Chase Free Checking account and Chase will give you a $100 or $125 bonus. To avoid monthly service fees, set up a direct deposit to the account or make at least five debit card purchases per month. No minimum balance requirement.

What's the Catch?

• The offer appears to be "by invitation" only. Contact me if you want the promo code.
• The $100 or $125 bonus you get will be reported on Form 1099-INT, so you'll have to pay taxes on it.
• You'll probably have to buy your first box paper checks, which probably will reduce your gain by about $25.
• If you close your account within 6 months (180 days) of account opening, you will have to pay back the bonus.

Final Verdict:
The Chase offer is similar to the recent Key Bank $100 Bonus offer. Your real gain will be closer to less after factoring in a box of paper checks and taxes. However, Chase has less stringent requirements than Key Bank. Key Bank requires two automatic payments of $100 each, while Chase only requires five debit card purchases (but no minimum spending per purchase).