Laurel Road Bonus for Credit Cards and Checking Accounts
Laurel Road is a digital lending platform and brand of KeyBank. They offer checking accounts and credit cards. The good thing about these two offerings is that they come with good bonuses. You can earn $540 with the checking account, and $400 when you refer friends or family members to sign up for a credit card. Let’s see the details.
Credit Card Referral
Earn up to $400 for each friend you refer when they refinance a student loan, finance a personal loan, or get approved for a credit card with Laurel Road. You can get up to 10 referrals per year for a total of $4,000.
Referrers must have log in credentials for Laurel Road’s Online Banking in order to participate in the Referral Program.
The person signing up doesn’t have to complete any spending for the referrer to get the $400 bonus. They just need to be approved for a Laurel Road Student Loan Cashback Card, and they can’t be an existing Laurel Road member.
The referrer can also choose to split the bonus with the person applying through the referral link. So for example, each party can get $200.
You can see this offer here.
Checking Account Bonus
In order to refer people to sign up for Laurel Road products, you need log in credentials. The best way to do that is to open a checking account and earn a bonus of up to $540.
- Earn a $20 cash reward for every month you make qualifying ACH direct deposits during the first 12 months, and $10 for every month after that – for as long as your account is open!
- Plus, you can earn a $300 welcome bonus. To get this bonus, you need to open a Laurel Road Loyalty Checking account by 12/31/2022 at 11:59 p.m. (ET). You then need to make one or more qualifying direct deposits via an Automated Clearing House (ACH) transaction into the Laurel Road Loyalty Checking account totaling at least $2,500 within the first 60 days after account opening to receive the $300, which will be deposited into your account within 60 days of meeting requirements.
You can see the checking account offer here.
Conclusion
The credit card offer is not that great, but it doesn’t require any spending. So this could be a good bonus for those who don’t have lots of spend to go for the bigger signup bonuses.
You can also combine it with the checking account bonus for a nice chunk of cash if you’re in two player mode. The first person signs up for the checking account and gets $540. Then invite P2 and get the $400 referral bonus. And then P2 can also get the checking account bonus for another $540. That’s a total of $1480. If you have more friends or family members, then it gets even better.
HT: Doctor of Credit
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To earn monthly rewards, you must make qualifying ACH deposits into your Laurel Road Loyalty Checking account totaling at least $2,500 during the statement period. Qualifying ACH direct deposit transactions include most payroll, Social Security, pension and government benefits deposits. Rewards will be deposited into your Laurel Road Loyalty Checking account in the statement period after they are earned.
Not a big deal but something.
Probably able to transfer out $2500 and transfer in $2500 eh?
Yeah works for a lot of banks – they are backed by Key Bank so these should work
https://www.doctorofcredit.com/knowledge-base/list-methods-banks-count-direct-deposits/#Key_Bank