Upgrade $500 Bonus Offer
I recently took advantage of the Upgrade $500 bonus offer in my quest to earn $30,000 from miles and points this year. It ended up being the easiest $500 I have made all year, maybe ever. I’ll go over the details of the offer and my experience with it. The deal is still around so you can grab $500 yourself just in time for the holidays.
Upgrade Checking Bonus Offer
For the offer you have to open up a personal credit line, similar to a credit card, and a their rewards checking account. The weird thing is the $500 bonus is all tied to activity with the checking account, besides being required to open both.
We opened the line of credit / card and the checking account for my wife. My application was denied unfortunately, although I plan to try again in the near future. The process was pretty easy. We filled out the form at the link above to get the personal credit line. During that process we were prompted to add on the Rewards Checking Account. We did that and both were approved instantly.
There was a hard pull but it is being reported that it is treated as a line of credit so should not affect Chase 5/24.
Upgrade $500 Bonus Offer Timeline
After getting approved we transferred $100 to the Rewards Checking Account and waited for the debit card to come. Once we received that, about a week later, we did 3 Amazon loads and then waited.
The Amazon loads were done on November 15th and the $500 bonus posted on November 26th. The bonus posted to the checking account even though the terms make it seem like it will post to the line of credit account. We never even activated that card, although there are a few reports of it posting there for people.
Here is the full timeline:
- Opened the line of credit & checking account 11/7/22
- Transferred in $100 from an external checking account 11/7/22
- Received the debit card and made 3 Amazon loads with it on 11/15/22
- The bonus posted on 11/26/22
Easy $500 Bonus – Final Thoughts
It is a bit strange that you need to open a line of credit and a checking account for this offer, even though the bonus is tied to the checking account, but it is easy as pie. I like that the requirements are only for 3 debit card charges and there is no deposit, or spending, minimum. The fact that the $500 bonus posts quickly really puts it over the top. As I said before, you could get this Upgrade $500 bonus offer in time for holiday shopping!
The debit card also earns 1% cash back which could be of interest to some. Although, there are better debit options out there these days.
Capital One Venture X Business earns 2X miles on everyday purchases plus up to 10X in bonus categories. You also get access to Capital One lounges plus an annual travel credit & anniversary bonus. Right now you earn bonus_miles_full.
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