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Nick, Capital one $400 bonus deposited for P1&P2 in 2/22. Acct opened early December. Cha-Ching. Ty FM and DoC.


Hi Nick, great article. Are you aware of anyone ever getting their credit card accounts shutdown for regularly churning checking/saving accounts bonuses at the same bank? I am mostly concerned about Chase or Citi, where bank bonuses can be churned every 1-2 yrs, but curious about any other banks as well. Thanks!

Captain Greg

Does the Schwab account have a maintenance fee? And/Or a requirement to waive it?


OMG, hilarious…kind of a PITA. I finally got the PNC Virtual Wallet Performance Select checking set up and added a couple external accounts to ACH transfer money in. Once I did I tried to send $5K and it wouldn’t allow me, so I changed it to $2K…ok, so good so far, THEN to confirm, system asked me to verify my license plate on a car I owned 11 years ago!! Who knows this!? (Literally like 4-5 cars back), so I couldnt answer and it then locked my account to transfers. Had to call and speak to 3 reps to lift the hold. Now find out you can ONLY ACH TRANSFER MAX 2K/day from any or multiple accounts. So, according to the PNC rep I have to go back 3 difft days and make transfers. Not sure this $400 worth it…but trying to stay patient…ugh. Keep you posted, LOL. Making ACH from BOA…according to DOC and Reddit, qualifies for $5K deposit…hope this is the case. Thx. Nick


P2 and I already started $3,400 worth of bonuses to be earned in the first half of 2021 with just three accounts each: $700 for Citi Priority ($50k required for 3 months), Citi Personal Wealth Management ($50k required for 3 months and can be IRAs) and E*Trade $500 ($100k required for 6 months). The latter two are brokerage bonuses that are easy to do with an ACATS transfer of existing assets from another brokerage.

[…] bonuses. Having said that, if you can keep meticulous records this can be profitable, for example: Bank Account Bonus Goals for 2021. For a resources for this type of bonuses, check here: Best Bank Account Bonuses for January […]


I saw on a financial site that one brokerage states that it can take 270 days for the bonus to post and your account still has to be active. I would skip those.

I’ve done a couple lately. Marcus gave me $100 for $10K. Since I already had an account with Marcus and the money available that was simple transfer from bank to bank. $100 isn’t much (1% of $10K) but that is more than you can get in interest.

I created an account at Schwab for another bonus. Eventually Schwab will be taking over my TD accounts so this was fairly easy as well.

I am also doing a Cap One bonus.

In most cases I either screw up something and miss or get a reduced bonus or I lose interest.

I guess if bonuses get to $500 or more it gets some interest by me depending on the rules. I sure am not planning to more a lot of stocks around just to chase small $$$.


Couple of notes Nick-

  1. PNC just (as of Jan. 1) changed their terms and you can’t get this bonus if you have gotten a bonus with them within the last 2 years. The previous lockout period was 1 year from getting the last bonus.
  2. The BofA $500 business bonus is available even if not targeted. You can confirm in the comments on DoC’s post.

Beware of wanting Merrill customer service. I signed up with a public offer that I saw on DOC. When I called them about a question about depositing my money, the rep told me the offer was a targeted offer, which meant I didn’t qualify. There was no such language in the T&C. He then proceeded to offer me the same deal but with double the length of leaving my money there (6 months v a year). I’m very unhappy with such “service”, but think there is a chance that he doesn’t know what he’s talking about, and that I’ll get the bonus after 6 months. If it’s the alternative, I’ll actively dissuade people from signing up with Merrill because of such practices. Any thoughts on whether I’d get the bonus as the original offer stated?


Nick— Merrill bonuses take 180 days to post from the date that you meet the requirement, and in my experience, the bonus will post around day 180-185. So if it hasn’t been that long, I would wait it out.


Nick you’ve created a monster here. Ever since my very first recent HSBC $600 bonus, I’m hooked. I’m in line for $500 from Chase for checking and savings, and have my eye on $400 from Santander and another $300 for Chase business checking. I’m now off to investigate the ones still available in this article.


Just FYI there are way more than what Nick posted. Go to doctor of credit for main source on these bonuses

Steve L.

What is a P1 and a P2?


Is this worth it if you have to pay taxes on it?


Definetly makes sense. Ive just been noticing all these tax forms coming in the mail and second guessing if it is worth it.


Got $500 on the Citi bonus w/15k in 2019, posted 2/2020. Not $600, but not $400 🙂


once you are done with getting an account bonus and want to close out the account, can you transfer out the money online to another account and close the account online or do you have to go into a bank to do this?


You can do it online easily, basically for any bank.