Comments on: Chase Business Checking Coupon: $100 Bonus

By: Kenneth

Kenneth — Thu, 20 May 2010 16:51:07 +0000

Cassidy, that sounds interesting. Do you know any official webpage that outlines the terms and conditions? Thanks!

By: Cassidy

Cassidy — Thu, 20 May 2010 01:48:17 +0000

Monday May 24th, one day only Chase is offering $100 if you open up a business account and fund it with $500 within 30days!

By: Frontbutt

Frontbutt — Wed, 19 May 2010 11:52:25 +0000

Because I have link credit card to my chase account and charge my ebay fees on it each month, I don’t get a fee. On another account I have that requires 15 swipes per month to get the 4% interest, I just buy 15 packs of kool-aid at walmart or meijers and stand in the self-checkout lane and do one at a time. So for .20 each, or $3 total each month, I get 4% on my balance. You just have to stay organized each month for it all to workout. So far, so good. Good Luck!

By: andy

andy — Wed, 19 May 2010 05:32:55 +0000

thanks! i’ve been doing it for a couple months now, and no fees yet, so i think it is indeed working? though another possibility is that there’s a grace period i’m still in. stayed tuned.

By: Keron

Keron — Sat, 15 May 2010 17:01:46 +0000

andy, that’s really clever! I myself was thinking of just letting the account take the $6/mth. service fee, and then walk away with $70 or so. $0.30 certainly beats that! How would you do that? Just via Send Money from PayPal? Would that count as a debit, though?

By: andy

andy — Mon, 15 Mar 2010 03:47:30 +0000

One of the criteria for avoiding fees for the business account is using your debit card 5x a month. I don’t particularly want to carry it around with me and do this manually. Is there an automated way to do this each monthly that won’t cost me anything? All I can think of is send 5 $1 payments from one Paypal account to another each month. But would that work? Also, I’d be charged about $0.30*5 in Paypal fees each month, but I guess that’s not really a big deal. Any thoughts? thanks.

By: mytaxman

mytaxman — Fri, 26 Feb 2010 21:45:41 +0000

Hey– a hundred and fifty bucks is a hundred an fifty bucks in mu ledger books ! Most new businesses could use extra cash, and the malority of new businesses don’t make a profit the first year– so why would not you want the $150.00. Call the Taxcutterguy-hugeman.blogspot.com and we’ll show you how to record it so it’ll be a true plus to your bottom line. If you don’t get good service from your banker– get another banker. Mine just opened three accounts in lightning speed– all you have to do is have the correct paperwork. If you need help with that, or any business issue, write us.

By: Frontbutt

Frontbutt — Mon, 15 Feb 2010 03:14:41 +0000

I opened one up the other day, and it took like an hour or more with all the paperwork and questions about your bizness etc. The coupon did work as the lady did give me a receipt for the $100 bonus after 10 days. She did say the account has to stay open for 6mths or they take the bonus back. Another bonus was the debit rewards CC which they give enough points after the first purchase to get a $50 rewards check or gift card, so I’ll score $150 on this one. Thanks for the postings.

By: Robert

Robert — Mon, 08 Feb 2010 15:10:45 +0000

Ok so even if the IRS decided to take half (which they won’t because there is no 50% tax bracket….yet), you’d still be up 50 dollars just for opening an account. Geez.

By: Jonathan

Jonathan — Sun, 07 Feb 2010 04:30:42 +0000

Yes, this is true of all “bank bonuses”, they will report it as interest on a 1099-INT if over $10. Take it into account, although most people are in the 25% or lower tax brackets.

It does make “credit card bonuses” more desirable, as these are not reported on 1099s and are generally accepted to be “rebates on purchases” and thus not taxable. See here:

http://www.mymoneyblog.com/arc.....ard_1.html

By: Eric

Eric — Sun, 07 Feb 2010 00:48:25 +0000

^….it’s not that big of a deal bud.

By: Ed

Ed — Sat, 06 Feb 2010 20:50:46 +0000

Not really a great move. If you get the $100, they report it to the IRS, so you are really getting less than this.

Far smarter to get airline miles–often offered instead of cash. This way, you won’t get taxed.

By: Zoe

Zoe — Sat, 06 Feb 2010 08:21:09 +0000

Be prepared to receive a 1099 from Chase reporting your $100 bonus, meaning that you’ll have to report it as income on your tax return next year. So you won’t really get $100–you’ll get $100 minus your marginal tax rate (federal+state). Keep that in mind when deciding whether it’s worth the trouble to open a new account.