Published on May 2nd, 2015 | by William Charles46
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Very few bank bonuses have had affiliate links or even referral links in the past, the main one that sticks out is the Capital One 360. Because of this we haven’t had any formal policy on what we do in terms of using referral/affiliate links or not, generally I haven’t listed mine and instead allowed readers to add their own in the comments section.
Recently Chase launched an affiliate program for their Chase total checking account, which also comes with a $150 sign up bonus. This is an OK bonus, but given that Chase regularly offers $300 bonuses with the same requirements it’s really nothing special (just a friendly reminder, you can always view the best Chase checking bonuses here).
I’m not sure how much the Chase program pays, but for much the same reasons as why we decided to forgo credit card affiliate links, we will also be doing the same for bank bonus affiliate links. In case you don’t know those reasons, here they are:
- Censorship. Usually when you agree to have these links on your site, you also agree not to discuss certain information. I’m sure Chase would prefer people didn’t use ACH transfers to meet the direct deposit requirement for example (although I have no idea what their content guidelines are).
- Quotas. Sometimes these programs require you to meet a minimum number of referral/sales to stay active in this program. I don’t want to be thinking up creative ways to push bank bonuses onto my readers.
- Bias. I don’t want my decision to recommend or not recommend a bonus being biased because I’m earning money if readers do sign up.
- Perception of bias. I don’t want readers to think that my content might be biased due to me getting paid if they signed up, even if there is no actual bias on my behalf.
As always, I don’t judge any other bloggers who decided to use bank bonus affiliate links (or credit card links for that matter). I think it’s entirely possible to avoid most of those pitfalls I listed above and some bloggers do this quite successfully.
I’m fortunate in that this isn’t my full time job and my full time job pays a nice salary, writing this blog is just an extremely time consuming hobby on my behalf. If a bank bonus has a referral program, we’ll continue to invite readers to include their own links in the comments section.
If you’d like to support this site in other ways, you can. The best way to support this site is by sharing it with friends, family, people you work with and even strangers. You can do this just by telling them about it, sharing it on social media or even linking to it on forums (when appropriate and within the rules, please).
The other way you can support this site is by letting us know about any deals, tips or tricks that we’ve missed. We try to cover as much as we can, but the more people helping the better. You can contact us here. A simple thank you goes a long way as well, if you like anything that myself, Chuck, Miles Whip or Manasa writes then let us know about it. It always makes my day when I hear about a reader taking an amazing trip overseas which was in part thanks to this blog, at the end of the day that’s what makes this worth doing.