Offer at a glance
- Maximum bonus amount: $100
- Availability: OR
- Direct deposit required: Yes, no minimum specified
- Additional requirements: See below
- Hard/soft pull: Unknown
- ChexSystems: Unknown
- Credit card funding: Up to $500
- Monthly fees: None
- Early account termination fee: Unknown
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- InRoads Credit Union is offering a bonus of $100 when you open a new rewards checking account. To receive the bonus you must meet the following requirements for two statement cycles:
- Complete a minimum of 10 Visa® debit card purchases per cycle
- Have a direct deposit or ACH transaction post to your InRoads account
- Use e-Statements and maintain a valid email address
- If you complete the above requirements the account also earns 2% APY
The Fine Print
- Offer valid on new Cash Rewards Checking opened through 8/31/19. One $100 bonus per membership account. Account must meet qualifications for two statement cycles and within 90 days of opening account to qualify for $100 bonus.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about
Early Account Termination Fee
I wasn’t able to find a full fee schedule so I’m unsure if there is any early account termination fee.
Our Verdict
The 2% APY aspect of the account is kind of pointless considering there are much better high yield savings accounts. The bonus itself is OK, but there are a lot of requirements for a bonus of only $100 and we don’t know whether it’s a hard or soft pull to open. Feel free to share your experiences in the comments below.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- 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
- Bank Bonus Posting Times
They now have a new and different $100 bonus, expires 6/30/2024.
https://www.inroadscu.org/100offer/
No DD, no debit card transactions. Open the account and they will give you $100 after 60 days. I don’t know about “offer may only be redeemed by the person to whom it is addressed”. The offer is on their website.
Offer may only be redeemed by the person to whom it is addressed and is non-transferable. Only one bonus offer per member and not available to existing InRoads members. To qualify for bonus: Must meet membership qualifications, checking account must be open for 60 days and have a positive balance at time of bonus deposit. Bonus will be deposited within 30 days following that. Offer expires June 30, 2024.
Looks targeted: Offer may only be redeemed by the person to whom it is addressed and is non-transferable
I also applied and received this response from the rep:
“In order to have a checking account you will first have to have a savings account. That requires a one time $5 fee and $5 that will stay in your account at all times.
I will need:
Your phone number, drivers license number/issue date/expire date, are you or your spouse active military?
The home you live in, do you have a mortgage or pay rent? If you pay rent what is your full rent payment?
I need a contact information on a relative that is not living with you.(name/phone number/relationship)
I also need to pull your credit and chex sytem [sic].”
It’s odd that the requirements I was given are different from what
Firemaple was told.
I also have a suspicion that Inroads will be sticklers about the bonus despite how easy it should be to receive (don’t even need direct deposit), given that this CU only has three branches and the closest one is 40 minutes away by car from PDX. “Why would anyone sign up with us for any reason other than to milk the bonus if they’re in PDX?”, they’d think.
So yeah, I’m gonna let this one go.
Just completed the application online:
– Credit Card funding up to $500 online
– It appears minimum DD amount is $10
(The fine print on the rates page states that to qualify for the bonus rate, there must be a direct deposit of at least $10. I’m assuming it’s the same for the opening bonus as all the rest of the qualifications align.)
Got a message that the application was successfully completed and that I would be contacted by a Member Services Officer shortly. Will update as I get more info from Inroads.
Cool, please let us know if it’s a hard or soft pull
Can confirm that it’s a hard pull from Experian.
Have you heard back from them? I applied around 2 days ago as well and have not heard back from them
I left a more detailed comment above, but you may want to follow up with Inroads. Apparently they typically contact applicants within a business day, but even though I got the confirmation screen, my app wasn’t in their system.
Called in today and they couldn’t find my application on file and suggested I apply again. I also learned:
– Even when applying online a rep manually reviews and processes the application.
– They require a copy of two forms of ID for verification.
– You also need to complete a signature card; this can be done in branch, or alternatively it can be sent in if notarized.
I was so flumoxxed by the disappearing app and archaic process that I didn’t think to ask about what they do for the credit check. However, the rep I talked to was friendly and helpful. Based on my experience so far, I suspect if you are local they’d be great place to bank, but there are quite a few hoops to jump if you are just in it for the bonus.