[TX only] TDECU $200 Checking Bonus

Does anyone know what counts as a direct deposit for this bank, e.g. can Discover or Alliant push count?

The Onyx CC sounds decent enough, especially with the bonus. https://www.tdecu.org/onyx-platinum-mastercard/
“up to 2% rebate on the first $500,000 net spent” (haven’t found details about why it says “up to”)
0% on purchases for 6mo
0% on BTs for 12mo (if initiated within first 30 days) and no BT fee
price protection
extended warranty
“A revolving “base” line of credit, plus a non-revolving “pay in full” line of credit valued at up to two times the base amount.”

my hr person i going to love me changing my dd each month to collect bonuses

I got a hard pull opening just now. I opted out of the “Courtesy Pay Opt-in” where they cover overdrafts but left the Overdraft Protection Plan checked which is supposed to pull from the associated savings account to cover overdrafts in the checking account so maybe uncheck that as well if you apply new. They pulled Equifax.

Useless credit cards? Obviously you have never experienced a real Buc-ee’s!

😀

Overdraft Protection is pre-selected when going through the application– make sure to de-select that.

Also, if anyone applies, please clarify whether you got a real hard pull or soft pull on this. Thanks

I applied. Account says submitted for review. Probably to make sure you’re eligible. Certain counties only:
https://i.imgur.com/OSaHG9g.png
No hard pull (yet).
Note you can fund up to $2,500 (not $250).
You are required to opened a savings account if you’re not otherwise eligible to join than by residence. That’s another $2,500.

William Charles

Found the fees for the checking, $5/mo, reflected on their rates page:
https://www.tdecu.org/rates/

“Forward Checking Account Requirement (waived if enrolled in Mobile Deposit & either 1 ACH deposit or 6 debit card transactions are posted per month)”

“$5.00 per month”

Churnability?
Also seeing a few DPs below about hard-pulls. Spooky. Gonna be hard to resist a $5000 cc funding account.

William Charles

I apologize for the length, but TL;DR, AMEX FUNDING and $5k confirmed, but $7,500+ seems possible!

See below for full details:

While the application page ONLY states funding via Visa/MC/Discover; I noted the (?) help, button next to the CSV/pin showed an AMEX thumbnail, so I decided to go for it…

The system showed red font when entering an AMEX indicating it is not an approved funding source, so I expected the system to reject my submission, but to my surprise, it took me to the next page & said my application was submitted and it was shown as pending on my AMEX immediately, so I suspect it is automated and will clear!

My application was approved today and I registered my online access. No funds are shown as pending yet (although they do provide a $1 checking & $5 savings “courtesy funding”), but my AMEX still currently shows the charge as pending and it’s been 2 days, so I expect it should post in the next day or so!

I’ll post an update if/when it clears, but wanted to let everyone know in case anyone else wants to attempt.

In addition to the successful $5k deposit DP, I wanted to add that I had tested if the system had a total funding limit as it allows you to fund $2,500 per account and you can add additional accounts, such as another savings. I started to attempt the $7,500 funding for all 3 accounts and there was no warning that I exceeded a limit, but my application expired before I could find my card and on the second attempt I decided to remove the additional savings & just post $5k since it was more than enough to finish the MSR on the AMEX… so if someone else wants to add a positive DP this CU might be a gold mine if we’re able to churn the account or open multiple checking/savings.

Doesn’t specify anywhere how many DDs count as “recurring.”

Very technical reading could be just 2 DDs constitute “recurring” and once those are made, “recurring direct deposit” has been “set up.”

Up to sixty days after that is when bonus will be deposited then.

I guess we need more DPs. But gotta get in on that 5K funding, though.

Hard pull. I called them and asked why. They said that a feature of the Forward Checking Account is mobile deposit (the ability to deposit checks via the app), and that there’s been a lot of fraud on that so they are basically checking the credit of everyone applying for this account.

So definitely can confirm they are doing hard pulls for this specific account.

I just called their customer service 2 times with 2 different reps and they both said it will be a soft pull. William Charles

Hard pull, confirmed. This is what’s shown in my creditkarma account for Equifax:

Texas Dow Employees
Inquiry from Jun 05, 2019

I guess the positive is we now have a ChexSystems DP…

Thank you for your new membership application with TDECU. We regret to inform you that we are unable to process your new membership application at this time due to information received from Chex Systems, Inc., a consumer–reporting agency. We have attached a Chex System Disclosure so that you may contact them at your convenience for additional information regarding the information that is being reported.

Thank you for applying with TDECU.

Your TDECU Remote Online Account Processing Team

William Charles I’ll go ahead and tentatively post another positive DP for soft pull on recent app; tentative because it is in review for the weekend, so I’ll reply here if I end up with a hard pull later in the week. Also, wanted to point out the date for recurring DD is now 11/15, so maybe more people will consider opening an account with the recent soft pull DPs.

SO received a hard pull in the early wave of DPs like others reported. I didn’t have a MSR to meet, so I held off on opening for myself, but decided to bite the bullet and give it a try on my CIP#3 since $5k+ bank funding sounded worth the pull.

I ensured no overdraft selected and am not seeing a hard pull on any of the 3 bureaus, so believe I’m in the clear as SO had an immediate pull on Equifax last time.

Anyone receive bonus yet? Technically is supposed to post within 60 days of DD setup, so past that point for some I’m sure… I setup real DD and first posted 6/30, I setup my tracker to go off 60 days from 2nd DD on 7/12 since idk how they determine “recurring” but I’m doing $250/bi-weekly, so I would’ve met the old terms @ >$200 and still meet the $500 updated terms

William Charles – Might want to update about the updated terms and DD req’d date is extended to 11/30 for new applications.

I’m going to give it another few weeks or so to see if it posts automatically. Maybe it’s not until the monthly statement closes since I know other banks that do that. Just thought I’d start DPs since I can’t seem to find anything elsewhere.

William Charles Adding to DPs, be prepared to fight for this one…

Both checking & share savings account have been maintained with >$1 balance, real DD since account opening (6/30) and I didn’t receive automatic bonus post within the 60 days per T&C, so I SM to request bonus.

“After further review your account doesn’t qualify for the promotion because the promotion was listed for the Houston communities and not the city in which you live in (San Antonio). I do greatly apologize for the inconvenience.”

Note there has never been a reference to restricted communities in the T&C, nor is it currently listed as such on their website, so recommending screen shot of this to support. Hoping @Michael is right about escalating to supervisor to get it credited; otherwise, CFPB complaint may be needed.

An update to my earlier posts: I WAS given a hard pull. Saw it on trans union a few days after my initial post. Sorry for that disinfo.

Was denied the bonus by SM. I had real DDs and was told the promotion was only for Houston area. Asked to escalate to a supervisor and they credited me (without comment).

I’m betting we won’t see too many bonuses from this CU in the future. They seem like they weren’t prepared for the amount of interest. The $5k funding was nice.

I emailed TDECU today regarding opening an account and the rep stated the following:

“Thank you for contacting TDECU, I will be happy to assist you with your account inquiry. The credit pull will be a hard inquiry.

If there is anything else I can do, please feel free to contact me at your convenience. If I am unavailable, you may speak with any available Member Care Specialist at 800-839-1154 ext 7010, Monday through Friday, 8:00 a.m. to 6:00 p.m., and Saturday, 8:00 a.m. to 2:00 p.m.

It has been my pleasure to serve you, Mr. [Smith], and thank you for contacting TDECU – Your Credit Union.”

My wife and I both met the terms of the bonus offer (real DDs that are still continuing). The bonus did not post automatically for either of us. I SMed about mine, they promised to review, said I had met the terms, said that the incentive would post within a couple of days, then said that the promotion was intended for Houston-area residents only and therefore I did not qualify. Others have also reported the Houston twist. This was over several SMs. I asked for escalation to management, pointing out that there is no Houston-related requirement in the terms, and the bonus was eventually credited to my account.

My wife SMed about a week after I did, they promised to review, and they credited the bonus. She actually got hers before I did, without any of the Houston rigamarole.

Lessons: The bonus will probably not post automatically (any counter-DPs?). If not (and you actually met the terms with real DDs), you may have to diligently (but politely) pursue it, escalating to management if necessary. It can all be done via SM. If you met the terms, you will eventually get the bonus.

Finally, the terms say that they will post the bonus within 60 days of meeting the qualifications. One of the SMs said that they start counting the 60-day period beginning with the second of the recurring DDs.

Even though I opt out of courtesy pay, mobile deposit, overdraft, etc… it was still a hard pull on EQ. Opened HY checking and funded with SW Performance Biz.

declined bonus, no real DD, not in houston, escalated to supervisor but they flat out declined saying because its not payroll DD.
filed CFPB complaint but they won’t handle it so they forward it to NCUA. NCUA response saying that its not within their responsibility, suggested me to contact Texas Credit Union Department. I gave up.

I applied for an account to meet MSR on a new Amex BGR card. I live in one of the designated counties so I’m not worried about the bonus being denied. I was able to charge $7.5k to the card, $2.5k/account. I haven’t been able to move any of it yet, but the charge has been applied to my card as shows in the accounts.

William Charles When I applied my Equifax report was pulled. I, like many others, made sure to opt out of anything that might cause it, but I was still checked. Maybe they check people deposit large sums on credit cards? Who knows? I was asked to provide proof of ID (I applied with passport) so I sent my driver’s license. But that had my old address (though still in an eligible county) so I had to follow up with a utility bill to prove residence.

For me, the hard pull is worth the 7.5/10k MSR of the BGR so I’m pleased that I should be able to get a bank bonus out of this as well.

Anyone tried Capital One funding with this bank? I want to use my Venture card, but don’t want it to code as cash advance. Thank you!