[Expired] Navy Federal Credit Union New Member Bonus: $150 For Checking Account & $300 For Credit Card

This offer has expired.

This post mostly deals with the $150 checking bonus. You can also get a total of $300 on the GoRewards credit card, this is just an extra 10,000 points/$100 on this offer.

Offer at a glance

• Maximum bonus amount: $150
• Availability: Nationwide but must be eligible for NFCU membership.
• Direct deposit required: Yes, $500+ required per month for one year
• Additional requirements: None
• Hard/soft pull: Mixed reports
• ChexSystems: Unknown
• Credit card funding: Can fund up to $250 with a credit card (Visa, Mastercard or Discover)
• Monthly fees: None
• Early account termination fee: They reserve the right to reclaim bonus if direct deposit is stopped within 12 months
• Household limit: None
• Expiration date: July 31st, 2017

The Offer

Direct link to offer

• Become a new NFCU member and open a checking account with the promotional code SUMMER17 and receive a bonus of $150 when you complete the following requirements:
  • Receive a Direct Deposit of Net Pay of $500+ within 90 days of account opening
  • If the DDNP stops within one year they reserve the right to reclaim the bonus

The Fine Print

• A minimum Direct Deposit of Net Pay (DDNP) of $500 must be posted to your new checking account within 90 days of account opening in order to be eligible for bonus. DDNP consists of an electronic deposit of wages, pension and/or social security benefits.
• Any allotments or other transfers of funds, including Mobile/Scan Deposits and/or ATM deposits, are not considered DDNP and do not qualify.
• Please allow up to eight weeks for the $150 to be posted to your primary checking account.
• Limit one per member.
• If DDNP stops within one year, Navy Federal reserves the right to reclaim the incentive.
• Recipient is solely responsible for any personal tax liability arising out of the acceptance of this incentive.
• Checking account must be opened between 6/26/2017 and 7/31/2017 in order to be eligible for bonus. Offer can expire anytime without prior notice.

Avoiding Fees

It seems like the account needs to be kept open for twelve months and you need direct deposit during that period otherwise they reserve the right to reclaim the bonus. They have two free checking accounts (active duty and everyday checking) so no need to worry about any monthly fees.

Our Verdict

Better than the $50 bonus they previously offered, looks like it’s a hard pull to join as well. The big downside to this offer is the fact that you need the direct deposit hitting the account for 12 months as well. Obviously joining isn’t worth it just for the bank account bonus (due to the hard pull) but they do offer good credit card bonuses (including the $300 you could get from joining here) and sometimes they have good CD rates. You can read more about their credit cards here.

Big thanks to reader, Ann M who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications