Disclaimer up front: This appears to be very targeted. I received postal mail on this but could find nothing on this offer anywhere on their site or the interwebs.
I play the savings accounts bonus game while resting from the credit card rewards game, but I never give more than a second’s thought to checking account bonuses. They are usually pathetic amounts and more hassle to open checking than savings.
But an offer came via postal mail today that is looking quite irresistible. BB&T is offering me $600 for opening an Elite Gold Checking account requiring only having $25,000 in the account for 75 days. (There’s also an option for direct deposits of $2000 or more, but you’d still have to maintain that amount for no fees).
What’s the catch? Well, they do pay interest but it is pretty much 0%. So I’d be losing $100 or so on the $25,000. But there’s still a net of $500 which by my calculations is about 12% interest.
What’s my down side here? Possibly a hard pull, an Chex entry for the new account. Not seeing why I wouldn’t do this.