History of Chase Bank Bonus Payouts
Chase Bank has a long history of offering new-account bonuses. These include bonuses for personal checking accounts, business checking accounts and personal savings accounts. From my personal experience and from my observations, Chase has a pretty good record of paying their bonuses. If you open an account using a coupon code and you satisfy the activity requirements (which may be just direct deposit), there’s a good chance you’ll receive the bonus without hassles. However, I have seen some complaints from readers. So I thought it would be useful to let readers provide input via a poll.
Please take the poll if you have participated in past Chase promotions for checking or savings accounts. Did Chase pay the bonus as promised? If they did pay, did you have to call to get the bank to pay? If they didn’t pay, was it the bank’s fault for not paying (You think you should have been paid since you met all of the bonus requirements.) The results of this poll should help readers decide if future Chase promotions are worthwhile.
Even if you receive the bonus at Chase, you may not come out ahead in the long run. You have to be careful that you avoid monthly service fees. Also, all of Chase account rates are very low or zero. So you’ll be earning very little interest. Nevertheless, if you’re careful, these bonuses can be good deals.
Current Chase Promotions
Chase regularly offers various new-account bonuses. Many of the checking account bonuses will have special promo pages that often don’t last long. So if you see a link to a Chase promo page that is no longer valid, you’ll have to keep searching. Some of the bonuses have no online promo pages. This is common for the Chase savings account. You’ll have to search for paper coupons. These usually can’t easily be shared since they have unique coupon codes. One reader just received a $125 savings account bonus coupon by email. You might also receive these by regular mail, and I’ve heard some readers receiving these when they ask for one at a Chase branch.
I’ve just updated my review of Chase Checking account bonuses with new links to $200 and $150 promotions. If you’re looking for savings account Chase coupons and other Chase paper coupons, this forum thread has some useful links.
Other Bank Bonuses
You can view my latest bank bonus blog posts in this bank bonus page. I and DA members often post on bonuses in the bank deals forum.
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 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.
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.
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!
If you close the account before a year is over, they will take back the bonus. I know that from my experience.
"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??
I don't for one second believe Chase is unaware of those who are "churning" their bonuses. I for one made it perfectly clear to the Chase representative when I opened the account that it would be for six months only and the bonus was in lieu of interest. I believe Chase studies the effects of bonuses and so far has concluded that the net result is an inflow of funds on which they pay no interest. Plain and simple. Those of us who consider the bonuses "interest" amount to far fewer than those who leave their funds earning none.
Using the excuse that it is ok to do this because interest rates are low does not excuse it. It is the Federal Reserve that is keeping rates low so they are the ones we should be concerned about not the banks. Thank you for your understanding.
"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?
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'd be interested to have those who voted that way explain how it was the bank's fault.
one to my son to do. Are you sure you did everything that was required?
If you did bring your statements into the branch for proof and for answers, if no satisfaction, ask to speak to the manager and still if no satisfaction report it to the authorities.
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!
I have a couple of their credit cards which I rarely use...I opted out of everything from them