Chase Makes it Harder to Get Their Generous Bank Bonuses
Chase is one of the most generous banks when it comes to deposit account bonuses. they’re long had a $500 bonus and more recently better bonus of $525 and even a targeted bonus of $600.
But now they’re making it more difficult to receive these generous bonuses.
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New Chase Bank Bonus Restriction
Doctor of Credit notes that the time frame for getting these bonuses again has been increased to two years. Here’s what the fine print says on the new $600 bonus:
You can receive only one new checking and one new savings account opening related bonus every two years from the last enrollment date and only one bonus per account. Bonuses are considered interest and will be reported on IRS Form 1099-INT (or Form 1042-S, if applicable).
It is still possible to get this bonus if you haven’t received it this year, although not the $600 bonus. Some of the offers still contain the old language that let you get the bonus once per calendar year.
Conclusion
This is bad news for many who have been doing the Chase Bank bonuses for years. The new rules will restrict you to just one bonus every two years, instead of every year that was the case till now. You still have time to get some of the bonuses this year even if you got them last year. But hurry, these link with old restrictions might not be around for long.
Hat Tip DoC
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