I recently opened a Chase British Airways credit card to earn an unbelievable 100,000 frequent flyer miles. This action has put me on Chase's radar. Last week, I received a targeted offer for a $200 bonus to open a Chase checking account. To avoid penalties and fees, I need to keep a balance of $1,500 for 6 months, then I can close the account hassle-free. That equates to about a 27% interest rate as opposed to the 0.84% I typically earn on my Ally savings account. Sold. I was also offered an additional $150 to open a savings account, which I availed myself to as well. Unless I'm offered an incentive to continue banking with Chase, I'll likely close these accounts in 6 months, but I'll reassess the situation then. For now, I'm happy with just making $350 for an hour's work. Just another example of your (good) credit working for you.
Miles Update: 225,189 (+71,632 since July 7)
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