History of Chase Bank Bonus Payouts

chase is the best bank in the US, great service best bonus ,

I was with Chase in my old city and now am a customer for the past 7 years in my new city.  Whenever I ask them about these bonuses I am always told they are for "new" customers.  I was not offered any type of bonus when I came to town.  My gripe with Chase is why does everything have to be for "new" customers. How about something for "old" dependable customers like myself who have all sorts of accounts with them.  I guess "old" doesn't count with Chase. 

During previous Chase promos I opened a checking account using my SS#, one using my husbands, and a third with my son's SS#.  Also opened a savings account.  Received a total of $600 in bonus money---all paid precisely as  promised on the 91st day of each account being opened.  Have kept these accounts and with a relatively low minimum balance, have never had a service charge of any kind.  Especially with today's low interest rates, these promos are a good deal.

I opened checking and savings accounts about 3 years ago with Chase.  They offered a $100 bonus.  I received it with no problems.

Chase is generally a good bank.  The one thing I don't like is their bill pay system does not support e-bills.  Bank of America does and it's what I use for paying most of my bills.

I don't like JP Morgan Chase for several reasons, mostly having to do with their reckless involvement in the derivatives markets. However, their traditional banking and credit cards division has always paid the promised bonuses.

I do remember wanting to cash in two CDs I had there (a POD and a personal in the days when FDIC insurance was only $100,000) for a higher rate at another bank, back in 2006. The customer service rep. was fairly obviously trained carefully to push me into the arms of the resident stock broker, whose desk was on the opposite end of the branch.

The brokerage division was obviously giving bonuses to brokers who could sell toxic sludge to customers. He tried desperately to convince me to buy a bond fund specializing in subprime mortgages. No doubt, JPM was trying to unload its own toxic portfolio on its customers. Being a rather sophisticated investor, I was smart enough to refuse. But, I needed to do so repeatedly, because he kept protesting that I would allegedly be paid about 13% and that the money would be as "liquid and secure as in the bank".

Thank heaven I refused or I would be $200,000 poorer today... I never did move the CDs to the new bank, but bought gold instead, which was one of my better choices in life.

My sister and I did the Chase promo twice. Think it was $250 back then. They paid as promised. I kept the credit card because they had 5% off several item that you chose. I used food, gasoline, electric, heat, TV internet and phone. This kept my sister busy and not thinking so much about her illness. The bonus helped with my sisters bills. Chase paid as promised. Think we had to pay tax on the checking and savings bonus but not on the credit card bonus or 5% cash back. I used the Chase AARP 5% cash back when we built a house about 2 years ago. Would not been able to do this without Ken's notices on his site.

All good experiences with Chase, first when they kept Wachovia's going out of business rate on my IRA CD, and subsequently with three or four bonuses. The last one was just the other day with $175 for opening a $15,000 savings account. That's 2.3% interest until closed six months and one day from opening.

Yes, they pay almost no interest. But they have some great policies, like one day availability on most deposited checks.

They're my local bank of choice.

I meant Wamu, not Wachovia.

You will NOT get the chase checking bonus if you ever got a bonus for a chase checking account before!

Also, Chase ****ed me (and many others) out of promised AARP credit card rewards by involuntarily closing my AARP card before I could redeem the accumulated rewards points!

Never a problem with Chase bonuses....either checking or savings....all paid on schedule.  I open both savings and checking accounts  and then close them after six months...... and then reopen  the following year for a new series of bonuses. 

Anonymous - #11,

If you close the account before a year is over, they will take back the bonus. I know that from my experience.

Anonymous - #10,Tuesday, July 30, 2013 - 2:52 PM

"You will NOT get the chase checking bonus if you ever got a bonus for a chase checking account before!

Also, Chase ****ed me (and many others) out of promised AARP credit card rewards by involuntarily closing my AARP card before I could redeem the accumulated rewards points!"


So you were in on the abusing of the offer??

As I mentioned above(#11)....I have received serveral Chase checking bonuses....as well as savings account bonuses.  Sometimes the terms state direct deposit required....sometimes they don't.  I've closed the accounts after 6 months without any penalty or having the bonus deducted.  Perhaps the terms are different based on the promotion or area of the country.  The last promotion I signed up for was $350....200 savings and 150 checking (or visa versa) and no direct deposit required.  Received one immediately and the other after 90 days.  Piece of cake.  Next month I will close and redo in 2014. Since No directed deposit was required I took advantage of the Citizens bank promotion a couple of months ago.  I think that was for $175.  I will close that after 6 months.  Also did the Key promotion which was painful.....terrible bank.  My feeling is these banks are making so much profit through fees loans and CC  on folks who can least afford it yet paying either 0% on your money or with a "relationship" .01%.....which turns out to be $.10/yr per 1000.  I'm delighted to take advantage of these banks.

To #13. Account were only required to be open for 6 months when I did this. You could do this once from Jan thru Dec  which both my husband and I each did and my sister and her husband did for a few years. 

I am happy that so many of you were able to get those bonuses from Chase.  However, they did not make it clear to their dependable customers like myself that we could play this game and open and close accounts just to get those bonuses.  It seems like a very unfair way to run a bank.   If they were allowing such practices, it should have been told to regular customers so we could have had our chance at a bonus.

The problem with Chase is its failure to honor/acknowledge the right of privacy and continue to send harassing promotional opt out material which has been previously inputted with the reply..."opt out of every/all marketing" per California law!

Just received another mailing from Chase. Can do this once a calendar year. $200 for opening a checking. Can keep $1500 in the account and have no direct deposit. After putting $100 in the opening deposit, $200 will be deposited with in 10 business days. Account must be kept open for 6 months. If my calculation is correct is that over 26.6% interest? 

Per #21:

"We have rules to live by in our society and we can't take things just because we make up our own rules for why we are doing it."

And what "rule" is being violated by complying with the terms of an offer?

To #25, And what "rule" is being violated by complying with the terms of an offer? --maybe #21 and paoli2 are just very jealous that only new customers get these offers (and, even repeat-new customers). As agreed, the bonuses are for new customers (but also for repeat-new customers). Why should a bank give its loyal customers a bonus? These customers are loyal and stay. But, banks want new accounts (or customers)! They want our deposit money; they want us to pay fees for services; they want us to use their products; they want to offer us Savings accounts and credit cards; they want us to make mistakes and pay more fees and overdraft. They even want us to pay $25 for account closing fee (if closed within 90 days of account opening). The fact that some people constantly apply, open, comply, close, and repeat each year is their perogative. If they want to go through the hassle each year and the credit report and Chexsystems checks, and the hassles of closing the account, then let it be.

It reminds me of cableTV and internet; I got 3 months free as a bonus for new customer. After a year or so later, they had ads for get free cable and internet for 6 months for new customers only. I called customer service, and got no where. I spoke to their retention department, and still got no incentive or discounts to stay. So, I cancelled. A month or two later, I signed up as a new customer and got their promotion.

I see 11% of the respondents to Ken's poll say they didn't receive their bonus due to Chase's fault. I can't tell how many represent 11 %, but I'm pretty sure it wasn't the fault of the bank.

I'd be interested to have those who voted that way explain how it was the bank's fault.

Does anyone know what year Chase started these checking and/or savings account bonuses for new customers?  Thank you for any info you can share.

Does anyone know what year Chase started these checking and/or savings account bonuses for new customers?-- maybe March 2008 or so. JPM Chase had far too few branches and customers then compared to today.

Kevin, they have not honored the bonus for 2 separate accounts that I have opened up with them. Can we engage an attorney to see how many accounts they are doing this to and whether or not this is a pervasive action on their part?

I have always done chase bonus  accounts and I have always got my bonus deposited  into my accounts without any issues . In fact  I hunt for them  especially in this ERA  of  miserable interests rates in  other bank products like  CDs and MMA.

I received a bonus from chase because I set up direct deposit, but I no longer work at my job which means the direct deposit is no longer linked to chase. The direct deposit has been linked for 60 days. Does anyone know if the bonus will be deducted and if so, when?

I have been getting the runaround from Chase. My wife and I have been getting these coupons for many years. We have come back every other year or so. This last March, on the 2nd we opened accounts at the Elmwood Park NJ, branch where the representative asked if we had accounts before. I told Arsenio that we have opened accounts every year or so, as we have taken advantage of the coupon bonus program coupons many times before.
The representative, Arsenio... does a bunch of typing and looks me up. He asks me to verify my address and its correct. He asks for my ID and a credit card. I provide my license and Master card. He proceeds to open account, and offers me a credit card in addition. He opens new checking and savings plus another credit card with a bonus of its own as well. He prints out each accounts information with the bonus amounts and dates I should receive the bonuses and places them in an fancy folder and I'm on my way to drop off my new direct deposit with my employer and I'm done. I've opened the accounts and have the paperwork for the promised bonuses. I deposited money in each account to satisfy minimum requirements and pay no fees.
A couple of weeks later... Covid19 and I don't think to check my bonus since work life has dramatically changed among many other things. Fast forward to June and we suddenly realize that we have not received any bonuses for any of the accounts we opened.
I call the representative Arsenio who has been transferred to Garfield and explain that no bonus was received. He says he will look into it and call me back. The next day, no phone call. I call back, but now I can't get through and I'm now having to schedule a telephone call back. I set it up and provide my cell phone as the call back number. The call time comes and goes without a contact. I setup two more calls that go without contact before I realize that my home phone call ID shows calls with no messages. So, now I'm deleting my home number from my account since these people don't follow directions. Now, I get no call at all on either phone number for several more phone appointments. Now, I'm calling 800 numbers for contacting someone else about the problem.
It is here where I learn that my coupon has recently expired. Odd, it was on the account but now honored and now expired. The representative asks for the number again from the coupon and I have it so they try to enter it again and of course it is expired. They explain that they can't do anything more and to call the branch. I call the branch and ask for the manager to explain there is a problem but now, I actually get through to the rep working in Garfield now. He doesn't get back to me but I track him down and his response was that nothing has changed in my account but he will call me when it does. WTF... That is not acceptable. If he cannot return a phone call, I don't trust he is doing anything to resolve the issue. I ask for a manager but no one is available. I ask for them to contact me and their name. He tells me that Manager Marlaine is going to get back to me. She calls my home number and leaves a message that she is going to work on it and will get back to me.
She goes on a vacation and no one calls me back. Meanwhile, this message was on my home machine. So, I wait for the call the following Monday and as expected, nothing. I call and ask for her and get through. She is surprised that it wasn't handled why she was gone and promises again to follow up. Sets another date in the future to get back to me and when that day comes, no good news. Apologies and promises to escalate it to the next level for me. Another few days go by and more bad news. Escalate again and another week later, no good news. The marketing department says no because I had an account open in less than 2 years before opening this account. WTF...
I've had representatives tell me that it was too soon and come back on x date. This Arsenio saw my information and made no mention of my eligibility being in question and he sent me home with all the paperwork indicating my bonuses were coming. If they were not going to honor my bonuses for that reason, why didn't someone tell me at the time the account was opened or within the two weeks all the other eligiiblity requirements were met.
I have this discussion with multiple escalation people and not one of them tells you that the next person can't do anything more than the last because none of them have the authority to change it. But, they are happy to escalate it again so we can be utterly frustrated again. Finally, I get a complaint person who tells me that the branch manager had the authority to override and pay my account if they so chose. At this point, I decide to show up at the location of the Garfield branch to look for Manger Marlaine. She is out on vacation again for another week. I ask for another manager and explain the story again. This new guy makes a call and guess who he is talking too... Marlaine. After telling me she has done so much to try and help me but she can do nothing, I explain that I am no longer interested in the kindly spoken words that result no bonus paid for six months of money in accounts that pay nothing. I ask why another account opened at the same time for my wife at a different branch on the same day got the bonus but this account doesn't. They repeat the same verbiage about their process the only things they can do. I ask for Marlaina to provide her last name to name in the letter I'll be addressing my small claims court letter in addition to my contacting Consumer affairs.
Marlaina proceeds to tell me that she won't tolerate being threatened. I said excuse me in front of the other manager I'm talking to her in front of, no one is threatening anyone. I am however, promising litigation and would like your full name to refer to in the documentation. She refuses as if I'm not going to be able to obtain it from another representative. Hearing this the other manager provides her bosses contact information and name but that supervising manger is also on vacation but will contact me the following Monday, today. Today, no call from him yet but. Marlaina has called me to tell me that he will be calling me when her college has already told me his name so I don't know why she is calling me other than to let me know that she knows...
Well... Here we are at 2:20 on that Monday and no call. So, no call from Supervising Manager Garth G. I guess its off to the Consumer affairs and Court to file.
Bottom line. Representative promised bonuses and gave documentation to promised dates. Covid interfered with me checking on receipt but that didn't stop anyone from contacting me in any reasonable amount of time to tell me that the representative messed up. Hence, the bank is legally liable despite the repeated internal bs about not meeting the 2 year requirement which would have been acceptable in March but isn't in June, July, or August.
The Market Street location of Elmwood Park, New Jersey Chase Bank is closed and the people have moved to Garfield and Saddle Brook but the obligation is the same.
Not a good way to treat customers!