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qmc
qmc

This CU also has referrals: $50 for the referrer, $50-$200 for the referred ($50 for checking, $150 for business checking, $200 for both). Details here: https://providentcu.org/index.asp?i=refer

Jasmine
Jasmine

Linked page says $10k for 3 months also required.

Nik
Nik

I do not see the $10k requirement. William do you see it? Can you upload a screenshot in the writeup.

Richard N

Some interesting DPs on this offer! In the direct link ad page, when it lists the 3 things you have to do to qualify for this bonus and the 2.01%, It says “Have a monthly direct deposit or ACH transfer (automatic debit or credit) post to the account”. It does not mention an amount. I also looked at the fine print at the bottom and it does not mention a direct deposit at all. but it does have this language >>> “Deposit at least $10,000 in new money within 10 business days, and maintain an average daily balance of $10,000 for three consecutive months following the month that your account is opened. After meeting these requirements, we generally pay the $200 Checking Account Bonus by crediting your Provident Credit Union checking account. You will receive the stated bonus within 150 days of account opening. We may report the value of the $200 Checking Account Bonus to the IRS and any applicable taxes are the responsibility of the member.”<<<<. i am assuming this is language left over from a previous offer and never updated. However my main point is. I dont think there is a minimum amount on the Direct deposit. At least i cant find any on the ad page. ALSO, while this may be a California offer, i dont see any geographic restrictions. I haven't tried to sign up, it may weed out people from other states in the sign up process.
As far as the HP goes, it is NOT worth it if a $500 DD is required every 2 weeks because i already have money going to few other banks for their bonus offers, BUT if there is no minimum on the DD, then it is worth it even with the HP, Especially to Experian. (for me at least)

Richard N

Ok, I have more DP’s , the Link Doc has is not correct for this offer. there are 2 offers. the one online is the one i mentioned, there are “4” requirements actually, 1) have $300 spend on a debit/CC, per month. 2) have a direct deposit (no minimum), 3) sign up for e-disclosures. then there is the requirement to deposit $10k of new money within 10 days and maintain it for 3 months to qualify for the $200.
The other offer that Doc mentions is NOT online. It does have the $500 minimum DD,( with no 10k deposit). You have to contact a branch and be mailed a letter to be eligible for this offer. There is a geographic restriction limited to one county in California , however you can become a member if you join some affiliated organizations listed in eligibility requirements on the website.
Honestly, this CU makes u jump through a lot of hoops and it is not worth it to me

HoodWinked
HoodWinked

Success opening Membership Savings. Internet app.

I pulled Chex before applying. 2 Chex hits in the last 12 months, 4 in last 24 months and 8 in last 36 months.

PCU says I can pick up additional accounts within 30 days, including CC without additional HP/Chex. Have not seen HP on my CK report yet, don’t know bureau. Opened Super Reward Checking as well.

Roberto
Roberto

Was at a community event in SF today (Sunday Streets) and stopped by the Provident table. As mentioned in this post, the offer was increased to a $200 bonus (same requirements that DoC lists). Rep confirmed that they would do a HP on Experian and a Chexsystems inquiry if applying. Rep said $150 bonus is standard but they increase it to $200 at events.

I passed. Told him my Doc advised against HP’s for <$400 🙂

anthonyjh21
anthonyjh21

Ok so someone with Provident got back to me. The results aren’t good but they do back up what Ryan wrote:

“Good afternoon Anthony.

Thank you for your message. At this time, we do run a hard credit inquiry report when applying for membership with Provident. We also run a report with Chexsystems when applying for a checking account as well.

Please be advised, this email service is intended for general information only. Unfortunately, we cannot review or release your account information via regular email as it is an unsecured form of communication.

Please let us know if you have any further questions or requests.

Thank you for contacting Provident.

Lou Tobias | Personal Account Advisor – Technical – Call Center
Provident Credit Union
303 Twin Dolphin Drive, Redwood Shores, CA 94065 (map)
(800) 632-4600 | (650) 508-1443 (fax)
providentcu.org | ltobias@providentcu.org

I had also made sure to explicitly inform them that I was only wanting a checking account and no credit cards. As you can see she wrote that simply “applying for membership” would require a hard pull. I was really wanting to go after this bonus and the $1k CC funding but now its an easy pass.

Ryan
Ryan

Just FYI, it’s a hard pull, not a soft – got this email:
Good Afternoon Ryan,

To open up a membership savings and checking account, Provident does do a hard pull on your credit through Experian. Anything else that you apply for (credit card or loan) within 60 days, we will use the same credit report. Please let me know if you have any additional questions or would like to proceed with an application.

Thank you and have a great day!
Tricia Posemsky | Universal Agent II
Provident Credit Union
San Ramon Community Branch
11030 Bollinger Canyon Road Ste. 190, San Ramon, CA 94582

anthonyjh21
anthonyjh21

Thanks for the data point. I went ahead and sent them an email myself in hopes of getting more information. Really wanted this for the $1k CC funding as well. Definitely not worth it if there’s a hard inquiry (to Experian no less). Fingers crossed they inform me of it being a soft inquiry.

Lrdx
Lrdx

I actually find the $300 requirement lot less hassle than 10 swipes? I can pay my rent with a debit card, just set it up recurring, done. Or pay a few bills through Plastiq.

Lrdx
Lrdx

Apparently their CC also qualifies, and they have a 1.5% card. One would lose only $18 per year for spending $300 every month vs a 2% card. (That would be a hard pull obviously.)

anthonyjh21
anthonyjh21

If they can combine the HP for opening the account and getting the CC then that’s not a bad idea.

pc
pc

does discover ach or pp count as DD?

jd
jd

they had a similar promo earlier this year. applied and got declined due to chexsystem inquires. I had about 4~5 in a year at the time of application. it seems like they are very sensitive about that.