Bank Account Bonus Results 2019 Edition – How Much $$$ Did I Make?

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Bank Account Bonus Results 2019 Edition

Any long time readers know that I have an affinity for bank account bonuses.  These are great options to rack up some easy money.  Or the perfect alternative if you are on Chase 5/24 ice. I always try to grab a fee each year.  I have shared my 2017 and 2018 results in the past?  So how did 2019 stack up?  I didn’t have a lot of quantity but the quality of what I did go after was pretty good.

Related: Rack Up Free Stock With These Bonus Offers

My 2019 Bank Account Bonus Results

I am a little embarrassed by my 2019 results honestly.  With all of the travel I had last year, especially at the end of the year, I didn’t have time to focus on these like I would have liked.  Having said that I was able to hit some good sized ones at least.

  • Charles Schwab – $100 – I grabbed this one hoping to get the Charles Schwab Platinum.  That didn’t work out too well but I got the $100 bonus at least.  And now that I am off the Amex Pop-up I can try for the Schwab once again.
  • Citizens Banks – $450 – This bonus came with a nice bonus perk, $1,000 in credit card funding.  I put it on my World of Hyatt card so it would help with my wife’s $15K free night.
  • Chase Business Checking – $300
  • Credit Union One – $300 – I was able to put another $600 on a credit card for this one.
  • SoFi Money – $1200 – This one is a little misleading since a huge chunk of it is from referrals for my friends and family.  I will still count it since it was tied to the bank account.
  • SoFi Invest – $250 – same thing as above, most of it is from referrals after the initial bonus.

Overall the total comes out to $2,600 but if I didn’t count referrals the number would be $1300, which isn’t great.  I like to get at least $2000 in bank bonuses each year but in 2020 I am going to shoot for $3000.

My Game Plan For 2020

I am already working on a few pretty big offers in the early hours of 2020.  Here is what is already in the fire:

  • Citizens Bank – $600 – they targeted my wife for an offer and it has been over 6 months since she closed her account so why not!?
  • Fifth Third Bank – $550 – I was mailed a targeted offer that is similar to the public offer but a juicy one for sure.
  • TCF Bank – $300 – I haven’t done this one yet but plan to in the next few weeks.  It is from another targeted mailer.

It is only January and I am already working on enough bonuses to get me halfway to my $3000 goal!  Hopefully I don’t get distracted like I did last year.

Final Thoughts

Just remember that you need to claim these bonuses as interest income on your taxes so that knocks 15%-20% off the top for most people.  Either way it is easy money that you should be picking up.  We sign up for a lot of credit card offers that are less valuable than $600 cash and they take more effort.

I like to use bank account bonuses as a way to offset my costs when traveling while I have boots on the ground.  It covers food, transportation and award fees etc.  It is a great compliment to credit card welcome offers.

Be sure to check your mail for targeted mailers.  Sometimes they have them in the coupon packs sent to you too or the welcome to the neighborhood packets at the post office.  We will post the best nationwide offers but if you want more local offers too Doctor of Credit has a great resource as well.

Mark Ostermann
Mark Ostermann is a father, husband and miles/points fanatic. He left the corporate world after starting a family in order to be a stay at home dad. Mark is constantly looking at ways to save money and stay within budget while also taking awesome vacations with his family. When he isn't caring for his family or taking a weekend trip, Mark is working towards his goal of visiting every Major League Baseball ballpark.

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8 COMMENTS

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8 COMMENTS

    • I have a spreadsheet I track them on. I usually don’t do more than 2 at a time and once I close them down I move onto more. I know some people do much more than that at a time but with the direct deposit etc. I don’t like doing more than 2 at a time.

  1. Bold, brazen yet encouraging. Several banks have already put new restrictions on these. Yet here we go and advertise with statements like “I’m gonna do $3k!” Reminds me of CC days before 2016. You simply never learn.

  2. i just got Charles Schwab for the same reasoning haha hoping to get Platinum so i can unload my MR at 1.25 rate. Q- when did you got your $100 bonus from them? I’m still waiting

  3. I’m just did my first bank bonus and am also doing an investment bonus. I find the credit cards easier but thought I’d give this a try. Does one need to space out the bank account openings ?

    • They do have a similar system to credit inquiries but most banks are pretty lenient on it and people only get denied after doing a ton really. If you do 5-10 per year you shouldn’t have any issues.

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