$100 bonus for MyAccess checking from Bank of America; must be a current BofA credit card holder

[markber]

$100 bonus for MyAccess checking from Bank of America


Terms:

You will receive your $100 credit to your new account within 50 days of opening your new personal checking account online. Limit one $100 incentive per household every 6 months. This is a special offer to Bank of America credit card customers and only valid only for new MyAccess Checking® accounts. You must use the Offer Code CH100CTA and fund your account with the $25 minimum opening deposit requirement within 30 days in order to qualify for this offer. We may report the value of any premium to the IRS. Offer may be withdrawn or modified at any time without notice. The $100.00 credit can only be made to your new account. This new account must be still open at this time to receive your $100.00 credit.

 

[SignalSoldier]

Thanks
I am one payment aaway from paying and closing my cc through them

BoA and other mega banks bl0w horrible customer service.

 

[toofan]

The promo link says:
"No monthly maintenance fee, no minimum balance, no direct deposit required"

but when you click to start an application, it says:
"Free with a qualifying direct deposit, otherwise $5.95 monthly maintenance fee"

So is the checking account free with the promo code or do you still have to have a direct deposit in order for it to be free? It seems a bit misleading and I don't want to open an account just to find out that I'll be paying this $5.95 bs fee.

 

[just4geeks]

I don't want to open an account just to find out that I'll be paying this $5.95 bs fee.

Thanks OP, I am in.

I don't have direct deposits either. However, I do have a paypal account. Every month, I will transfer around $10 -$20 from paypal to My Access Checking. This way, I will avoid the %5.95 fee. To know more about direct deposits, go here.

 

[hytek369]

i already have an cc and account. can i still get $100 if i open a new account?

 

[TheDrake]

Thanks OP, I am in, even if its the $5.95 fee its still worth it!

 

[Robor]

Originally posted by: hytek369
i already have an cc and account. can i still get $100 if i open a new account?

Same here. Mortgage, checking (x2), savings, and CC through them.

 

[codeyf]

Did anyone see if it states how long till you get the $100? As it is we have 2 CC's, checking, savings, and mortgage thru BoA...but for $100 I'll open up another for a month or two.

edit: doh! i was looking for it too deep in to the terms....FIRST LINE!!!!!!!!!!!!

 

[dougp]

Good question - I would suggest calling to find out.

If this is the case, I may open another checking account so that I can stow away my rent money and such in there.

 

[toofan]

Originally posted by: just4geeks

Thanks OP, I am in.

I don't have direct deposits either. However, I do have a paypal account. Every month, I will transfer around $10 -$20 from paypal to My Access Checking. This way, I will avoid the %5.95 fee. To know more about direct deposits, go here.

That's very good to know. I didn't know about that FW page. I was thinking of setting up a regular ING transfer to the account anyway. Thanks.

 

[Prfstrkr]

just called BOA online Banking, and the customer representative told me if the account was opened using this code, I would not need to setup direct deposit to avoid monthly fee, just like how it was worded on the Promo Page

 

[elderdisantrophy]

Originally posted by: toofan
The promo link says:
"No monthly maintenance fee, no minimum balance, no direct deposit required"

but when you click to start an application, it says:
"Free with a qualifying direct deposit, otherwise $5.95 monthly maintenance fee"

So is the checking account free with the promo code or do you still have to have a direct deposit in order for it to be free? It seems a bit misleading and I don't want to open an account just to find out that I'll be paying this $5.95 bs fee.

The $5.95 maintenance fee is waived when you sign up for this promo. When i filled up my online application, online chat rep assited me & i brought up that same questiion. Bonus will be credited to your checking account after 50 days. No monthly fee's, no direct deposit required & only $25 minimum opening deposit, thats one hell of a deal...

 

[klingsor]

B of A sucks. I got a MicroCenter card through them, paid it off and attempted to cancel it. 2 months later I get a letter saying that the account hadn't been closed because there was a balance of $.03, plus 2 late payment charges of $15 each. I called to point out the silliness of this and the customer service rep was obtuse. I will be more than happy to stick it to them in any way possible.

 

[mattfury]

This deal is nuclear freaking hot. I did it in Nov or Dec, so I'm just waiting for my 6 mos to come up. The money came to my account quicker than the listed time. However, about the 3rd month in I got charged a monthly fee, so I cancelled my account.

The one pain in the ass part about this deal is that once you sign up, if you pay your CC bill online, they'll only let you pay from your BofA checking account and not whatever you used before. That actually had more to do with my cancelling my account than the fee.

 

[toofan]

Originally posted by: mattfury
The one pain in the ass part about this deal is that once you sign up, if you pay your CC bill online, they'll only let you pay from your BofA checking account and not whatever you used before. That actually had more to do with my cancelling my account than the fee.

Is that really true? Because that'll definitely suck for me considering I have 3 credit cards with BoA (after they bought out all the other banks out there I had CCs with). I went through the online application process on Friday and they said they would call me (still waiting). I'll ask the rep about that when/if they call. But if it's true, then I have to set up a transfer from my main checking, to ING, to BoA checking, to BoA CC .... what a pain.

 

[cubby1223]

Originally posted by: klingsor
B of A sucks. I got a MicroCenter card through them, paid it off and attempted to cancel it. 2 months later I get a letter saying that the account hadn't been closed because there was a balance of $.03, plus 2 late payment charges of $15 each. I called to point out the silliness of this and the customer service rep was obtuse. I will be more than happy to stick it to them in any way possible.

Where do you think they get the available money to pay out these promos?

Sounds like you paid off the credit card, but forgot that you still had some accumulated interest that was being applied to the account the next billing cycle. That's your responsibility to take care of. If you ever talk to anyone, or even any representative from the cc company, they will advise you to wait until you receive two consecutive zero balance bills before canceling the card.

 

[klingsor]

You have a valid point, except that I called and asked very specific and pointed questions in order to get the final payoff amount, meaning that I accounted for the accrued intrest and paid extra - but I was $.03 short, and on that $.03 they have charged me $30. It's a matter of personal morality whether you think that it should have turned out this way. But in my experience a good company, like AMEX, notices that my credit score is outstanding, that my business shuffles around fairly substantial amounts of money, and that the smart thing is to simply let the $.03 and the associated fees disappear - it's just good solid business.

 

[cubby1223]

Originally posted by: klingsor
You have a valid point, except that I called and asked very specific and pointed questions in order to get the final payoff amount, meaning that I accounted for the accrued intrest and paid extra - but I was $.03 short, and on that $.03 they have charged me $30. It's a matter of personal morality whether you think that it should have turned out this way. But in my experience a good company, like AMEX, notices that my credit score is outstanding, that my business shuffles around fairly substantial amounts of money, and that the smart thing is to simply let the $.03 and the associated fees disappear - it's just good solid business.

It's still your responsibility. Two zero balance bills before canceling. You know these things are automated. No company assigns card holders a representative to perform monthly personal account reviews. The data shows a past-due balance not paid, a fee is automatically charged.

This is how cc companies make money. They offer no yearly fees, 30 day grace periods, cashback bonuses, 0% balance transfers, promotional signup bonuses. But on the flip side, they will turn $0.03 into $30 when they get the chance to. It's how they *all* work, not just Bank of America. AMEX will do it when they have the chance. And it's your responsibility to make sure they do not take that money from you.

 

[mattfury]

Originally posted by: toofan

Originally posted by: mattfury
The one pain in the ass part about this deal is that once you sign up, if you pay your CC bill online, they'll only let you pay from your BofA checking account and not whatever you used before. That actually had more to do with my cancelling my account than the fee.

Is that really true? Because that'll definitely suck for me considering I have 3 credit cards with BoA (after they bought out all the other banks out there I had CCs with). I went through the online application process on Friday and they said they would call me (still waiting). I'll ask the rep about that when/if they call. But if it's true, then I have to set up a transfer from my main checking, to ING, to BoA checking, to BoA CC .... what a pain.

Well, after I cancelled my account, I couldn't pay my bill online at all. So I called BOfA and they directed me to another website altogether to use to pay my bill. It was evidnetly operated by BOfA, but I don't think that it stores your info like the regular BOfA website does, so you'll have to re-enter your checking info every time you want to pay. Other than that, I don't know of any way to pay your bill online from your other accounts. Judging from the conversation I had with CS, there isn't any other way.

Any reason why you couldn't transfer from main checking striaght to BOfA?

In any case, I found the hassle to be worth the $100 profit.

 

[klingsor]

My apologies for hijacking this thread guys, I'll stop after this one.

Post Script:

cubby 1223: Are you a B of A employee?

Actually CC companies make their money by charging suckers who carry a balance on thier cards, not by filching folks (for $30 for god sakes, it's almost nothing in the big picture) who are at liberty to choose.

My statement about AMEX is from personal experience. A similar thing happened with them several years ago and they reversed fees with a "Thank you for being a valuable customer", and they continue to get my patronage, both business and personal - and I have pointed more than a few people in their direction since then.

I'm not going to carry around a zero balance for two months on some card I'll never use again before canceling. Why bother with that when one should be able to call and ask for a closing sum all-told, as one would with a loan, write a check - and be done with it? Why would I or anyone do business with a company that makes things difficult for them?

 

[Schfifty Five]

nice, will look into this....

 

[RideFree]

Thanks Markber,
It is impossible to resist a free Franklin!

 

[luie]

I already have their checking, savings and brokerage accounts.
I signed up and the process completed without any errors. It didn't flag me.

So from my understanding, I now have 2 checking accounts?

 

[elnovato]

It seems a bit misleading and I don't want to open an account just to find out that I'll be paying this $5.95 bs fee.

$5.95 isn't too bad considering you're getting a 400% rate of return in less than 2 mos.

e.n.

 

[cooleyandy1]

*crossing fingers* Hope I get it. I did a quick calculation. With respect to rates, a $25 to $125 within two months is 2000% APY. Take that other high yield accounts