Offer has now expired.
Offer at a glance
- Maximum bonus amount: $200 + $30 per referral (with five person limit). A bonus of $50 is available for those that close on home loan or equivalent
- Availability: IL, IN & WA Only
- Direct deposit required: Optional, unsure of what triggers the direct deposit requirement
- Hard/soft pull: Mixed results
- Credit card funding: Unsure
- Monthly fees: None
- Early account termination fee: Unsure
- Expiration date: June 30th, 2016
Contents
The Offer
- Earn a $50 MasterCard gift card when you open a new My Marq Checking account
- Earn 40,000 FunRewards points which are redeemable for a $100 MasterCard gift card when you spend over $750 and make 12 non-PIN signature transactions within the first 90 days of account opening
- Earn an extra 20,000 FunRewards points ($50 MasterCard gift card) when you set up a recurring monthly direct deposit of $500 or more within the first 90 days (you must qualify for the debit card award listed above to receive this award)
- You’ll also earn 12,000 FunRewards points (~$30 MasterCard gift card) for every valid checking referral using the refer-a-friends coupon. These will be paid out within 35 days. Maximum of five limits per referral, feel free to share yours in the comments.
- Earn 20,000 FunRewards ($50 MasterCard gift card) when you close a new mortgage, refinance a home loan or a home equity loan/line. Points will post 60 days of a new closed home financing loan
The Fine Print
- Minimum opening deposit of $20 required, opening deposit must be new money to Marquette Bank
- Only valid for new customers
- One bonus per household
- FunRewards points will be awarded within 125 days of account opening
- Checking account must remain active for 1 year or customer must pay back the value of the redeemed gift cards before closing the account
- Bank account bonuses are treated as interest, as such you must pay taxes on them
Avoiding Fees
Marquette bank doesn’t post their fee schedule as far as we can see.
My Marq Checking Account $0 Monthly Fees
The My Marq checking account doesn’t come with any monthly fees.
Early Account Termination Fee ?
We’re unsure if they currently charge an early account termination fee, but it’s worth noting that the account needs to be kept open for a minimum of one year, otherwise they will most likely report a negative balance to chex systems which would make it difficult to open bank accounts in the future.
Our Verdict
FunRewards points can only be redeemed for Marquette MasterCard gift cards and charity donations, you need to have a minimum of 20,000 points to redeem for a $50 gift card (0.25¢ per point) otherwise it’s 6,000 points per $10 gift card (~0.17¢ per point).
This deal is really only worth doing if you complete the $750 spend requirement as well as opening a new account and receiving a direct deposit, which would give you a total of $200 in cash bonuses. Personally I won’t be completing this deal because I don’t live in the target area. I also think there are too many unknowns, it looks like it might be a TransUnion hard credit pull – in which case it’s definitely not worth doing (as you’ll get better value for signing up for a rewards credit card instead).
If it is a soft pull, it’d be worth signing up for as you could make some decent money getting friends and family to sign up for the same offer as they offer a referral bonus. If you do decide to go for this offer, let us know if it’s a hard or soft pull in the comments and feel free to share your referral link as well.
This account has been added to our bank account bonus page, it didn’t make the best bank account roundup post as the target area is quite small and we’re unsure if it’s a soft or hard credit inquiry.
Direct link to offer | Screenshot of offer
WN is the USCG abbreviation for Washington state (USPS abbreviation WA).
I just copied & pasted from the fine print, offer expired now anyway.
Wisconsin is WI