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Just Got A Direct

Thursday, March 11, 2010 - 10:12 PM
Just got a direct-mail promotion from Chase (I suspect they are targeting people who already have accounts, unsure if this will be more widely available).

Offer:  $75 bonus for opening a Chase Money Market Savings account w/ initial new money deposit of $2,000.  $12 monthly fee if balance is below $1,500 (unless linked to Chase Better Banking checking account, which also has monthly fee).  Bonus credited within 10 business days, will be deducted if account is closed w/in 6 months.  Nominal interest rate of 0.01% (yes, one hundredth of one percent).  Requires coupon code & branch visit to open, code can only be used once, not valid for other accounts.

Quick envelope calculation says it's essentially a 5% return on a non-renewable 6-month $1500 CD. :)
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May 9, 2010
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