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Forum -> Household Management -> Finances

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amother

Tue, Sep 26 2023, 11:16 pm

Note: this offer expires October 30, 2023. If an account has not been opened by then, the offer is no longer valid. If the account was already opened, you have 75 days from the account opening date to deposit the $250 twice.

We’re on a very tight budget and can use every extra dollar. Not paying maaser anymore because we just can’t afford it Sad

I came across this capitol one offer two weeks ago where if you open a checking account using the promo code BONUS350 and deposit $250 into the account two times within 75 days of opening the account, they give you a $350 bonus.

My husband and I both opened checking accounts for ourselves and transferred $250 in to our accounts twice, and I just checked today and we got our bonuses! $700 is HUGE, it’s such a relief.

I don’t get any commission from sharing this, just sharing to help you all out in this expensive Yom tov season.

Here’s the link at which you can create the account https://www.capitalone.com/bank/bonus350/

The account has no monthly minimums or extra fees, and no credit pull because it’s a checking account, not a credit card. I’m thinking of switching to using this account as my checking account, chase’s monthly mimimums drive paycheck to paycheck people up the wall.

amother

Junglegreen

Tue, Sep 26 2023, 11:42 pm

amother OP wrote:

We’re on a very tight budget and can use every extra dollar. Not paying maaser anymore because we just can’t afford it Sad

How long did it take for you to get the money?

amother

Wed, Sep 27 2023, 12:08 am

amother Junglegreen wrote:

How long did it take for you to get the money?

It took 2-3 weeks. I didn’t use zelle for the deposits btw - I used the transfer money option in my chase app because the offer says it needs to be direct deposits and I wasn’t sure if zelle would qualify. It took a few extra business days for the money to transfer because of that but no harm done.

amother

Wallflower

Wed, Sep 27 2023, 12:34 am

Do they send you a 1099 for the bonus, meaning do you have to pay tax on it?

amother

Powderblue

Wed, Sep 27 2023, 12:46 am

amother Wallflower wrote:

Do they send you a 1099 for the bonus, meaning do you have to pay tax on it?

Assuming not because it's under $600 per social

amother

Crocus

Wed, Sep 27 2023, 12:50 am

They will send a 1099 and it is subject to tax. Likely you are in a very low bracket and won't have to pay, or only very minimal amount like 10%, but it is def subject to tax.

The $600 rule is only for non employee comp. This is considered interest, where anything over $10 is reportable on a 1099.

amother

Chestnut

Wed, Sep 27 2023, 1:01 am

amother OP wrote:

We’re on a very tight budget and can use every extra dollar. Not paying maaser anymore because we just can’t afford it Sad

Just did this (thanx) I set up the transfer from capital one account ($is coming from td account)is that ok? Or do I need to set up the transfer with the other bank?

amother

Lightcyan

Wed, Sep 27 2023, 3:24 am

How long after can you withdraw money? Thanks

amother

Springgreen

Wed, Sep 27 2023, 4:57 am

Would I be eligible if I already have a capital one checking account?

amother

Wed, Sep 27 2023, 5:13 am

amother Wallflower wrote:

Do they send you a 1099 for the bonus, meaning do you have to pay tax on it?

Yes they do.

amother

Wed, Sep 27 2023, 5:13 am

amother Lightcyan wrote:

How long after can you withdraw money? Thanks

Right away Smile

I took all the money out and moved it to my usual checking account at chase as soon as I saw I got the bonus.

amother

Wed, Sep 27 2023, 5:14 am

amother Springgreen wrote:

Would I be eligible if I already have a capital one checking account?

I don’t think so, I’m sorry Sad

amother

Wed, Sep 27 2023, 5:17 am

amother Chestnut wrote:

Just did this (thanx) I set up the transfer from capital one account ($is coming from td account)is that ok? Or do I need to set up the transfer with the other bank?

Hm so I did the same thing for one of my transfers, set it up from within the capital one account while creating the account. I wasn’t sure if it would work so I ended up transferring 250 in two times after that. You can wait three weeks and see if the transfer was enough the way you did it.

Just don’t forget you need two transfers of $250, one isn’t enough. Not clear on if you did one transfer or two at this point.

amother

Chestnut

Wed, Sep 27 2023, 9:48 am

amother OP wrote:

I did 2 transfers already but k guess ill do the deposits just in case . Thanks so much . I'm about to go buy myself somethjng for yt and feel like I can splurge a little now Wink

also living paycheck to paycheck

amother

Strawberry

Wed, Sep 27 2023, 9:51 am

OP, thank you!
I may need to open a new account shortly, so this is good to know.

amother

Wine

Wed, Sep 27 2023, 10:18 am

It needs to be direct deposit from an employer? You can't transfer yourself from a different account?

notshanarishona

Wed, Sep 27 2023, 10:25 am

I am looking at the fine print, looks like I am ineligible if I already have a capital one 360 checking account?

amother

Wed, Sep 27 2023, 10:41 am

amother Wine wrote:

It needs to be direct deposit from an employer? You can't transfer yourself from a different account?

It does not need to be direct deposit from your employer - it can be a deposit from your own other checking account. I just transferred money from my chase checking and I got the bonus.

amother

Wed, Sep 27 2023, 10:42 am

amother Chestnut wrote:

I did 2 transfers already but k guess ill do the deposits just in case . Thanks so much . I'm about to go buy myself somethjng for yt and feel like I can splurge a little now Wink

also living paycheck to paycheck

Seriously so happy to hear!! BH

amother

Wed, Sep 27 2023, 10:42 am

amother Strawberry wrote:

OP, thank you!
I may need to open a new account shortly, so this is good to know.

You’re very welcome! I don’t know how long they’ll have this offer for so bear that in mind.

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