Update 9/24/23: Bonus is now $300. Might be possible to apply out of state via ACC now as well. No longer possible
Offer at a glance
- Maximum bonus amount: $300
- Availability: PA only. You need to be in bucks county, work, worship or attend school in Bucks County, or have an immediate family with an account there.
- Direct deposit required: Yes, $500+
- Additional requirements: Use promo code and set up online banking
- Hard/soft pull: Mixed DP
- ChexSystems: Unknown
- Credit card funding: Unknown
- Monthly fees: None
- Early account termination fee: $5, 90 days
- Household limit: None listed
- Expiration date: None listed
Contents
The Offer
- Inspire Federal Credit Union is offering a bonus of $150 when you open a new checking account. Requirements are as follows:
- Open a new checking account with promo code GET300
- Set up a direct deposit of $500+
The Fine Print
- New Checking Account Offer available to new consumer checking account members; members with current checking accounts are not eligible for new account bonus of $150.
- The $150 accounts bonus will be paid in the form of an account credit to the new primary checking account after qualifications are met within the first 60 days, but no later than 60 days past the account opening date.
- In order to receive account bonus, new account must receive a direct deposit totaling $500 or more in the first 60 days; be enrolled in and receive account eStatements; and, all member accounts are to be in good standing.
- If any of the preceding qualifications are not met the new account bonus will not be received by the member.
- The credit union reserves the right to cancel promotion at any time.
- $300 bonus paid if both Checking Account AND Loan Refinance promotions are accepted and opened by consumer, and qualifications met.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
The everyday checking account has no monthly fees to worry about.
Early Account Termination Fee
According to the fee schedule there is a $5 fee if closed within 90 days of account opening.
Our Verdict
Seems like a relatively easy bonus, just need to know if it’s a hard or soft pull to open. If anybody goes for this bonus then please 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
It looks like now it blocks you since first page due to ZIP code. At least for mine in north FL.
It didn’t do that a few days ago
So, OOS is dead. Not that it ever got started. VA is out!
This credit union got the message, figured out how to filter by zip code, and said “See ya”.
Denied for excessive Chex inquires. I’m at around 18 inquiries in the last 24 months. It looks like they also tried to pull my Transunion credit report. I’m not clear if that was an attempted hard or soft pull, as I had Chex unfrozen, but all credit bureaus frozen.
P1 and P2 applied as OOS one week ago on 9/25/23. P1 shows “Approved Pending” as application status. P2 shows “Pending.” Neither P1 or P2 has received any further communication from the bank. Both messaged through the application status page inquiring about the status of their applications and have not received responses. The application status page states someone should contact us in 24-48 hours. This has not been the case for us.
Could you report back of what will happen next? Super interested to see if OOS would work, and if there is a hard pull or not. Thank you!
P1 and P2 both rejected due to excessive chex system inquiries. Both are lol/24.
@Sammy
Did you get approved?
I called customer service was told it is not nationwide and hard pull.
they never know everything.
One of their representatives called me earlier today. No approval, but also no hard pull either. They weren’t willing to give any reason why other than receiving a letter in the mail.
@Sammy. Thanks. I got the same answer. It may the same person called you.
Did you check your Chexsystem? Did they pull Chexsystem?
Yes, they pulled Chexsystems.
I didn’t get any notification from any other bureau.
for OOS application, what branch location are you selecting? Its the 1st step in eligibility.
can one join if not in Buck’s county?
Got HP. NOT inspiring at all!!!!
Which bureau?
Experian
Was it right after applying or a day or 2 later?. I didn’t get any HP so far. Also did you select no for overdraft?.
Correction: This is definitely a SOFT pull, not a hard pull. I rechecked all 3 credit reports and Chex to confirm. It’s only on my Chex report. My bad. I should have learned by now not to put anything in writing and hit send when tired, but clearly I had a lapse.
Please correct.
I see in the comments that you had a previous account. I wonder if you avoided the current hard pull due to your history, or if there is no longer a hard pull for any applicant. Do you know if you definitely had a hard pull in 2020?
Mrs. Gee
My banking hard pulls are showing back to 2021. I opened Inspire in 2020. So, no way for me to know with 100% certainty. My feeling is that their procedures to approve an account are most likely consistent. They are a pretty small operation and I wouldn’t think that their software is that sophisticated to be able to recognize prior accounts upon application. When I applied for the second time this year I got a ding on my chex report the day or two before the manager called me, making me think pulling chex is automatic and apps are individually looked at before final approval. The only way to know for sure is for someone to apply.
Looks like Sammy will be the test case.
Thanks for the reply. Credit bureau hard pulls fall off after two years so wasn’t sure if you would remember or have saved any of your old reports.
Will be eager to see what
Sammy says.
No go here, their representative called earlier today and wouldn’t give me a reason for not moving forward with my application other than to expect a letter in the mail. I didn’t get a hard pull, but unsure if they even bothered to pull Chex as well. Denial could either be geographic or Chex as I applied from out of state (AZ), but at the same time have opened 3+ bank accounts in the past 2-weeks.
Were all 3 of your credit bureaus thawed/unfrozen when you applied,
Sammy ? Thanks!
Tempting… it’s a hard sell with the hard pull and no datapoints on Chex sensitivity. My credit score is trash at the moment, so the fact they are pulling a credit bureau indicates there’s a minimum score to be approved.
Just applied, went into review status. Will hear back after 1 business day. $500 credit card max funding with any issuer. I applied from way OOS through ACC.
$500 max per acct?
Good luck – hope you get approved. Did you have a hard pull from any of the credit bureaus,
Sammy ? I want to apply but I can’t afford a HP. Thanks!
Just received a phone call from one of their representatives today. Unfortunately it was a denial and they were unable to provide a reason other than mentioning I would receive a letter in the mail. They didn’t pull any credit report either (I suspect they only pull upon approval).
Idk why some CUs/Banks perform HPs(membership)when they have access to the same info with SPs
Soft pull doesn’t show them everything, usually banks that do a hard pull look for amount of accounts and age of them along with weighing frequency between applications besides just your credit score. It’s a good indicator this bank may be more harder to get through, but I’ve seen datapoints that contradict my usual findings though, so don’t take this as fact.
Dang, Hard Pull
https://inspirefcu.org/every-season-and-reason/
I think this is the link you want for the article
William Charles
Checking bonus is back and is now $300. You can become a member through the American Consumer Council. Inspire pays the fee. BUT it is a hard pull and is definitely not churnable. I got this bonus in 2020 and attempted to churn a few months ago. I applied online and the branch manager called me, letting me know that I was not eligible for the bonus, since I got one in 2020, wanted to know if I still wanted to open the account.
Here is the link.
https://inspirefcu.org/personal-banking/checking-accounts/
Thanks for the tip for OOS applicants! I wish that would be called out more often on various offers. 🙂
Is this all of PA or just bucks county….hmmm.
To save others the effort, when you apply you need to be in bucks county, work, worship or attend school in Bucks County, or have an immediate family with an account there.