Chase Sapphire Banking, 60K Bonus for New Accounts or Upgrades
We have covered rumors about Chase Sapphire Banking in the past, and finally the accounts are available along with the promised bonus. Now there’s public offers of 60,000 Ultimate Rewards points for new accounts or those upgraded to Sapphire Banking.
New Chase Sapphire Banking Offer
Start with these three steps to get your 60,000 Chase Ultimate Rewards® Bonus Points:
- Open now or meet with a banker to open an account by 01/11/2019.
- Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, and maintain that balance for at least 90 days.
Within 45 business days of completing Step 2, 60,000 bonus points with be deposited to your Chase Sapphire card with Ultimate Rewards.
Chase Sapphire Banking Upgrade Offer
Start with these three steps to get your 60,000 Chase Ultimate Rewards® Bonus Points:
- Meet with a banker by 01/11/2019 to upgrade to a Chase Sapphire Checking account.
- Within 45 calendar days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible checking, savings and/or investment accounts, and maintain that balance for at least 90 days.
Within 45 business days of completing Step 2, 60,000 bonus points with be deposited to your Chase Sapphire card with Ultimate Rewards.
Key Terms
- Customers must have a Chase Sapphire® or Chase Freedom® credit card that is open and not in default at the time of enrollment and at points fulfillment, and be the primary cardmember on the account.
- Offer not available to existing Chase Sapphire Banking and Chase Private Client customers.
- $75,000 of new money can be deposited in a combination of eligible checking, savings and/or J.P. Morgan investment accounts (excluding insurance products; fixed and variable annuities; 529 College Savings Plans; any retirement accounts including but not limited to Traditional and Roth IRAs, Keogh, Simple IRAs, and 401(k) Plans).
- The Ultimate Rewards bonus points transferred to you under the terms of the Program are considered miscellaneous income received from Chase, and may be reportable to you and the IRS on Form 1099-INT
- You can only participate in one Sapphire Checking, Chase Private Client Checking or You Invest new money bonus in a 12 month period.
- There is a $25 Monthly Service Fee for Chase Sapphire Checking OR $0 when you have an average beginning day balance of $75,000 or more in any combination of this account and linked qualifying deposits/investments.
Conclusion
This is a great bonus for a bank account, worth $900 if you have a Chase Sapphire Reserve card. But you need to deposit a large amount, $75,000, and keep it in there for 90 days. Investment and savings accounts are also eligible, so those could be better options than checking.
You also need that 75K balance in your account to avoid the $25 monthly fee. Other Chase bank bonuses require you to keep the account open for 6 months, but for this bonus it’s not stated in the terms. It could be worth checking before closing the account.
Terms also state that the bonus may be reportable to you and the IRS on Form 1099-INT. We do not know what value they will attach to the points.
HT: Doctor of Credit
Chase Sapphire Preferred® Card
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