My 2018 Bank Account Bonuses Results
I have been a fan of bank account bonuses for many years now, even when the bonus was just getting a t-shirt in college. Remember the old toaster, coffee mug and blanket offer days? Those were pretty terrible but now banks offer cold hard cash to entice you.
I shared my results from 2017 last year and people seemed to enjoy it so I figured I would do it again. Without further ado here are my 2018 bank account bonus results.
I wasn’t as on the ball this year as I have been in years past but I still came out alright. I was fortunate enough to get some larger bonuses which helped out even though my overall accounts added was down. Here are the figures:
- Fifth Third Bank – 2 bonuses totaling $500 (my wife and I each got one)
- Chase – 2 bonuses totaling $600 (one for the wife and myself)
- Citizens Bank – $150
- TCF Bank – $250
- Keybank – $200
- Fidelity – $100 Amazon gift card (I calculate this as cash equivalent)
- MSGCU – $175
A lot of these were local banks or Midwest banks. Chase was a big nationwide one and one of the easier bonuses although they have changed the rules some. Overall I ended up with $1,975 from 9 accounts. The overall numbers are lower compared to 2017 but the per bonus average was over $200 which is pretty solid.
These figures don’t include my tax rate since these are all taxed as interest income. Be sure to file them with your accountant during tax time.
I only have one iron in the fire right now and that is the Charles Schwab $100 bonus that I signed up for when I was chasing the Platinum card. We all know how that ended, in disaster. Other than that I am sitting it out for a little while until I get some accounts closed down to clean up my bank account tracking sheet. Then I will start hitting the rounds again, hopefully in time to snatch some of the great bonuses happening early this year.
With the constant crackdowns on welcome offers bank account bonuses have been my safe haven. It gives me something to focus on and puts money in my account to use when I am on vacation. It is also something to keep you occupied while in a cooling off mode or waiting to drop under 5/24.