Comments on: Too much of a good thing? Or another free $100? http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/ Save money with coupons, deals, and inspiration! Thu, 24 May 2012 02:51:45 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: cefaa http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2722 cefaa Wed, 22 Apr 2009 18:56:54 +0000 http://www.bargainbabe.com/?p=3460#comment-2722 somebody once said greed is good somebody once said greed is good

]]> By: Ravi http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2642 Ravi Tue, 21 Apr 2009 01:33:08 +0000 http://www.bargainbabe.com/?p=3460#comment-2642 I think the $100 will be taxed and you will receive a tax form 1099 (something similar). But hey...its still is some amount of free money. I think the $100 will be taxed and you will receive a tax form 1099 (something similar). But hey…its still is some amount of free money.

]]> By: steve http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2486 steve Fri, 17 Apr 2009 20:15:58 +0000 http://www.bargainbabe.com/?p=3460#comment-2486 I got two flyers from Chase in the mail at different times. One said you had to start a direct deposit which I don't want to do. The second flyer I got said direct deposit or 5 debit card purchases within 60 days. That I can do. woohoo free money I got two flyers from Chase in the mail at different times. One said you had to start a direct deposit which I don’t want to do. The second flyer I got said direct deposit or 5 debit card purchases within 60 days. That I can do. woohoo free money

]]> By: mimi http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2438 mimi Fri, 17 Apr 2009 00:57:40 +0000 http://www.bargainbabe.com/?p=3460#comment-2438 Chase is smarter than WaMu. They state you have to maintain the account for 6 months in order to get the $100 gift. It levels the playing field for any/all opportunists. Chase is smarter than WaMu. They state you have to maintain the account for 6 months in order to get the $100 gift.
It levels the playing field for any/all opportunists.

]]> By: a91030mom http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2433 a91030mom Thu, 16 Apr 2009 23:11:12 +0000 http://www.bargainbabe.com/?p=3460#comment-2433 No question for me, go for it. The bank knows it's a hassle for most people to move all their banking to it's institution, so they're making it worth your trouble. Most of them require that you have an automatic deposit monthly, otherwise they don't pay the $100 premium. Some also require that you stay a while, say 3 months or so. They are paying a solid premium to get people to move their deposits. A bank is nothing with out deposits. Paying $100 to get you to move is a large incentive, large enough for people to actually do it. But if you think about it, it's smart money, because they're going to spend tons $$ in advertising in general that may or not work. With this scheme, they don't pay out, unless you jump through the hoops they set up -- smart (the print and mailing costs are a negligible % of the total). Fortunately my husband's job allows you to move a % of his paycheck to different accounts. So I send some here, there and everywhere. I keep track of everything on Quicken and have never had a problem. I also used to do the credit arbitrage game, but that seems to be just about over. There's no way it's unethical. I would ask, it is unethical to take a free sample of toothpaste at the fair, "knowing" there's no way you're going to switch? You may not think you'll ever switch but (how does that one slogan go?) "one bite and we've gotcha". You *may* despite yourself fall in love with their product. That's what they're betting on. Same with the banking. For example, I've been with C bank for a LONG time (15 yrs or so) and have other accounts that I've opened for bonuses sitting idle. Well guess what? I've recently had a bad experience with bank C "customer service" (in another continent) and I just moved the bulk of our pay to the other bank! So was it ethical for me to open it just for the bonus $ "knowing" I was not going to move the bulk of our deposit? I don't think my "new" bank would agree, my new bank would say it was a good, smart, calculated bet. No question for me, go for it. The bank knows it’s a hassle for most people to move all their banking to it’s institution, so they’re making it worth your trouble. Most of them require that you have an automatic deposit monthly, otherwise they don’t pay the $100 premium. Some also require that you stay a while, say 3 months or so. They are paying a solid premium to get people to move their deposits. A bank is nothing with out deposits. Paying $100 to get you to move is a large incentive, large enough for people to actually do it. But if you think about it, it’s smart money, because they’re going to spend tons $$ in advertising in general that may or not work. With this scheme, they don’t pay out, unless you jump through the hoops they set up — smart (the print and mailing costs are a negligible % of the total).

Fortunately my husband’s job allows you to move a % of his paycheck to different accounts. So I send some here, there and everywhere. I keep track of everything on Quicken and have never had a problem. I also used to do the credit arbitrage game, but that seems to be just about over.

There’s no way it’s unethical. I would ask, it is unethical to take a free sample of toothpaste at the fair, “knowing” there’s no way you’re going to switch? You may not think you’ll ever switch but (how does that one slogan go?) “one bite and we’ve gotcha”. You *may* despite yourself fall in love with their product. That’s what they’re betting on.

Same with the banking. For example, I’ve been with C bank for a LONG time (15 yrs or so) and have other accounts that I’ve opened for bonuses sitting idle. Well guess what? I’ve recently had a bad experience with bank C “customer service” (in another continent) and I just moved the bulk of our pay to the other bank! So was it ethical for me to open it just for the bonus $ “knowing” I was not going to move the bulk of our deposit? I don’t think my “new” bank would agree, my new bank would say it was a good, smart, calculated bet.

]]> By: Lynda http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2427 Lynda Thu, 16 Apr 2009 20:43:08 +0000 http://www.bargainbabe.com/?p=3460#comment-2427 I think in this situation that if it is legal, it is moral. Banks (and such institutions) cannot be considered to be 'moral' entities since they follow only laws, not ethical standards (or so it seems). I do have two questions about changing. How much time is it going to take to change everything (personal records, etc) and how many possible problems could occur? I'm thinking about my Paypal account that withdraws from my checking account, the bill pay I use (thru the bank) and other financial connections through one particular bank (my Social Security is direct deposit to the bank account). I would have to run two accounts parallel (is the 'free checking' dependent on direct deposit?) which is more work... My second concern is the credit rating. I know if you have too few or too many credit cards it affects your credit rating, but what about changing banks? If any of your credit cards are tied to your current bank account, will closing that account change how that credit card is handled by the company? For someone who needs the $100 I'd say go for it, but for someone who is only thinking about what they could buy with $100, I'd say consider the other costs. BUT--since almost everything is tied to a social security number, I think the offer might not apply for Hopeful... I think in this situation that if it is legal, it is moral. Banks (and such institutions) cannot be considered to be ‘moral’ entities since they follow only laws, not ethical standards (or so it seems).
I do have two questions about changing. How much time is it going to take to change everything (personal records, etc) and how many possible problems could occur? I’m thinking about my Paypal account that withdraws from my checking account, the bill pay I use (thru the bank) and other financial connections through one particular bank (my Social Security is direct deposit to the bank account). I would have to run two accounts parallel (is the ‘free checking’ dependent on direct deposit?) which is more work…
My second concern is the credit rating. I know if you have too few or too many credit cards it affects your credit rating, but what about changing banks? If any of your credit cards are tied to your current bank account, will closing that account change how that credit card is handled by the company?
For someone who needs the $100 I’d say go for it, but for someone who is only thinking about what they could buy with $100, I’d say consider the other costs.
BUT–since almost everything is tied to a social security number, I think the offer might not apply for Hopeful…

]]> By: Hopeful http://bargainbabe.com/2009/04/16/too-much-of-a-good-thing-or-another-free-100/comment-page-1/#comment-2412 Hopeful Thu, 16 Apr 2009 18:56:12 +0000 http://www.bargainbabe.com/?p=3460#comment-2412 Why not??? Every month I get notices of fees going up. Why take advantage of an opportunity to recover some of the banks raping on fees? Why not??? Every month I get notices of fees going up. Why take advantage of an opportunity to recover some of the banks raping on fees?

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