Wow, my first poll.
Read the details below and then vote:
I was just on there checking my online credit card statement when I saw that I have an offer from BofA: If I open one of their "MyAccess" checking accounts and have it open for at least 2-3 months, I get a $100 bonus.
I have had a checking account with USAA since forever and am very happy with it, but $100 is a nice chunk of change. However, I'm hesitant about whether I should do it, so I figured I'd ask you lot for your opinions. Here's how I see it:
PROS:
1) There is no minimum balance required.
2) The $100 is deposited about 50 days after the account is opened (and obviously must still be open to get the $100).
3) Once the $100 is in there, I can transfer the money out of the BofA account into my USAA account at no charge, then close the BofA account.
4) Basically, easy money.
CONS:
1) There's a $5.95/month maintenance fee UNLESS I set up direct deposit from my paycheck OR I make at least one online bill payment from the BofA account each month. (There may be other "account-related fees" but I was unable to find out what they might be.)
2) I'm afraid I'll screw something up if I change my existing direct deposit set-up, or if I divide my bill payments between two checking accounts.
3) Signing up for a checking account is probably just asking for TONS more junk mail that I don't need. (This is something I can live with, however.)
4) According to the fine print, "Offer may be withdrawn or modified at any time without notice" -- so there's no guarantee that I'll get the $100 bonus.
SEMI-PRO: Even if I'm charged a $5.95/month fee, if it's only for a couple of months I'm still getting about $80-90 in free cash. Not as good as $100, but better than $0.
So.... What do you think?
VOTE NOW!
~ Jenney