Posted by William Charles on September 22, 2018
Bank Account Bonuses

Published on September 22nd, 2018 | by William Charles


New Chase Checking & Savings Bonus Restrictions (Once Every Two Years)

Yesterday we posted a new deal offering $600 for opening a Chase checking & savings account. Several readers pointed out that they have updated the language describing who’s eligible, it now clearly states (emphasis ours):

  • You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).

The older bonus for $500 contains the old language that states (emphasis ours):

  •  You can receive only one new checking and one new savings account opening related bonus each calendar year and only one bonus per account.

As you can see the new wording states you can get the bonus every two years from the last enrollment date (when you signed up) and the old wording states you can get the bonus each calendar year. Honestly this just sucks, this was always one of the top rated bank account bonuses out there. Even if you only did the checking bonus for $300, it was an easy $300 each year. Now it looks like you’ll be limited to doing it every two years. If you’ve done a chase checking/savings bonus in the last two years but haven’t received a bonus this calendar year, I’d strongly recommend doing the $525 bonus now before that offer expires and the new language gets implemented across all Chase bonuses.

It’s possible this new language only relates to the higher $600 offer, but I’d be betting that it will become standard across all Chase deposit account bonuses sooner rather than later. It’ll be interesting to see if the new Sapphire Banking bonuses also contain this new language or not.

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This is another case in point example of why to go hard at the game while its here. No guarantee of tomorrow offers!

Dirty pig fuckers



Welp. Chase churn police extend their jurisdiction from cards to bank accounts.

I wondered how long it would be before they plugged this hole.

I will say that this has been one of the easiest, and fastest posting and higher paying sweet spots for churning the cream of the crop into butter.

After the uptick in DDA/Card shutdowns, I decided to keep the accounts open and active.

Chase offers a lot of auxiliary value as well as convenience and locale of multiple branches to work and home

Ok i have a question about Chase bonuses. I did have a chase account for a few years but i closed it in April. I never did any kind of bonus deal, I thought i had to wait a whole year before opening another account again to get the bonus. But since i have never received a bonus before from chase, does that mean i can apply for an account now and get the bonus?

as long as you close the account more than 90 days and haven’t received the bonus this calendar year, then yeah, you can open now and get the bonus

Ty very much for the fast reply. Ill go for it!

“and haven’t received the bonus this calendar year”

Well, now the rule is “two years from the last enrollment date”. No problem for this guy since he didn’t get a bonus on that account, though.

DP: I opened the saving Nov 2017, receive bonus March 2018, closed it May 2018. If I fulfill the requirements in Oct, they will be credited Jan 2019, so that is another calendar year.

When I went to a branch today, the Rep said I am qualified for the bonus. But when I asked him to call to confirm, I was told I was not eligible since I need to wait for ONE YEAR after closing the account.

By one year you mean wait until next Calendar year I suppose

I had a teller tell me something similar, that I had to have the account closed for one year which just goes to show that one cannot rely on what someone at the bank says, you have to rely on the wording on the coupon.


Yes you should be. The terms of most bonuses specify typically 2 limitations: how much time must have passed since you closed your account and that you are limited to 1 bonus per calendar year or whatever. Example below. In some cases it is 90 days, in some cases 180 days (~ 6 months). Look the terms of the specific offer you are applying for and save a screenshot or a photo of the offer for reference.

Keep in mind that if you are a co-signer on someone else’s account I think this means you do have an account and you are not eligible.

Example: offer is not available to those with fiduciary accounts, or those whose accounts have been closed within 90 days or closed with a negative balance.

“You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account.”

So not only is it now restricted to 2 years, you can only get either a checking bonus or a savings bonus (from your last enrollment date) is how I read that.

Definitely wrong, because I keep getting offers for both. In fact, the $600 bonus is dependent on receiving both bonuses.

Well, F– me. Opened Chase savings + checking last year July for $500 bonuses. Closed both accounts in Feb this year. Was ready to churn it. Ughh.

Get on that $525 offer pronto

It’s the nature of the hobby. Was fun while it lasted.

Where does the every two year language appear when you are applying?


For the $600 bonus, bottom of page where it says Important Information and under the heading Bonus/Account Information, it is the second to last sentence under that heading.

Where you say “It’s possible this new language only relates to the higher $600 offer” is not true as of now, the separate but still current $225 savings and the $300 savings bonuses also have the new language.

I recently opened a checking account but not savings, since I don’t have the funds available to meet the minimum balance requirement for the savings offer.

Now when I log in Chase is offering a $25 bonus to open a savings account, and the only requirement is to set up a repeating automatic monthly transfer from checking to savings.

This $25 bonus offer also has the “You can only receive one new savings account opening related bonus every two years from the last enrollment date” language in it.

William Charles

can confirm, the 2 year language is on the $225 and $300 savings bonus. The $500 (300 CK/200 SV) bonus still has the 1 year language

Interesting how they’ve changed some but not others yet. They should have at least waited until the ones currently active have expired then started a new one with the new terms.

Glad I made a copy of the old terms when I opened the $225 bonus on Sept 15 and also received an email confirmation from Chase with the old terms specified in the email. Can see that causing some trouble in getting the bonus in 90 days unless you have “proof” of the old terms when you applied.

Hmm.. so if an individual signed up for the $525 bonus a month or two back before this new language appeared and it was ‘per calendar year’, would they still be clear to pursue additional checking bonuses, specifically the upcoming Sapphire Banking bonus, next calendar year despite the policy change? Or would this policy change be considered retroactive?

Well, there are plenty of other fish in the sea so to speak.

Personally i have found bank bonuses much easier to churn compared to credit card bonuses because you can open 10+ a year. Try opening 10 credit cards a year and the banks will give you funny looks.

> Try opening 10 credit cards a year and the banks will give you funny looks.


But you have to pay tax on bank bonuses.

This sucks. Still closing those accounts though. Wil open again with the sapphire banking bonus in 1.5 years!

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