Bank of America has a $75 checking account promotion for BofA credit card customers. Here's the promotional page link. Here's a summary of this new promotion:
- Open a new MyAccess Checking account online with offer code CH75OL1
- Fund your new account with $125 within 30 days
- Receive your $75 within 90 days of account opening
- Online-only offer for Bank of America credit card customers only
- Make sure Offer Code CH75OL1 appears in the application
- MyAccess Checking has no monthly maintenance fee when opened online
- Offer does not apply to current checking customers
- Limit one $75 incentive per household every 6 months
- offer expires on 12/04/2009
Watch Out for Fees
According to small print of this new promotion, MyAccess Checking has no monthly maintenance fee when opened online. Make sure you keep an eye on your statements to make sure no fees start popping up. You might want to make a copy of the application where it states that the MyAccess Checking will be free. BofA also charges for things that you might expect are free. For example, if you make an outgoing ACH transfer, there's a $3 charge (see BofA page).
Hard Credit Pull
Many have reported that BofA does a hard credit inquiry on your first checking account. A reader noted in a previous BofA post that he received two pulls when he did this promo in early 2008. A hard credit inquiry can ding your credit score a little for a few months.
Other Bank Bonuses
Refer to my Bank Bonus Page for all of my recent posts on checking account bonuses.