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How do you keep track of all of these offers, requirements, deposits, withdrawal dates, etc. Is there a spreadsheet or an app or a systematic sticky-note system I could learn?

[…] and I’ve written several posts on my progress with them over the past couple of years (See: 2020 bank account bonus tally: $4680 earned, $1525 more on the way and Earning $6,000+ in bank and brokerage bonuses: the time spent makes […]

[…] account bonuses last year, which should be more than $6,500 once pending bonuses are received. (See 2020 bank account bonus tally: $4480 earned, $1725 more on the way for more details on that.) Chime wasn’t one of the accounts he opened, but it could be a good […]

[…] If you are interested in bank account bonuses, I recommend checking out Doctor of Credit’s Best Bank Account Bonuses page and by reading Frequent Miler’s 2020 bank account bonus tally: $4480 earned, $1725 more on the way. […]


Reyes, thanks for the update.
I followed your steps and opened a few accounts which brought some easy money.
My question to you: when you recommend closing the accounts? Immediately after the bonus was posted, or setup some recurring transfer to keep it alive for a longer time. Maybe one year.


My issue is that my local bank does not do transfers to other banks. So I have to put my funds with a bank that does this.

Eddy V

You don’t have to be stuck with one bank


Nick, just curious, have you calculated your total cash-on-cash return (% ROI based on the total amount of cash you had to leave tied up in these accounts)? I’ve done a handful of bank bonuses and wish I enjoyed the process more. I find it takes up too much space in my brain, so I end up feeling like the hourly rate I “earn” from the bonuses isn’t that great. But with interest rates on CDs and high-yield savings accounts so low right now, the opportunity cost of chasing bank bonuses is certainly lower than ever, too.


Great analysis–thanks. I’ll probably try a few bank bonuses in 2021, along with my current side hustle: cashing out URs with Pay Yourself Back. Thanks to a willing P2 and good MS options in my area, I earned about $5k in statement credits that way this year.

Joe W

Great article! How soon is too soon to cancel a checking account once you receive the bonus especially if you have no further use for it? Are there any banks known for clawing back bonuses more so than others?



great article. How much cash does a person need to start with to try to replicate what you did?

[…] A great option is to earn a bank account bonus at the same time.  See this Doctor of credit post for current bank account bonuses and see this post for examples in action. […]

[…] written several times this year about the value of checking account bonuses — including information on thousands of dollars we’ve earned this year in my household thanks to bank account bonuses. While we don’t cover every new checking […]

[…] transfers from an external checking account have been triggering the direct deposit requirements (I’ve written about it here). You typically need a total of $5,000 in direct deposits over the course of the calendar month […]


Hi Nick,
Nice article. I recently tried few accounts. Citi $200 very easy with $5k deposit for 3m and no fee for over 62. I also tried Chase $600 for chk/savings combo. The $200 for saving is easy with $15k deposit for 3m. But i am not sure if my ACH will trigger the checking and Combo. Finding the right alternative for DD is a pain.

Adam Jones

Is there a way to set up Direct Deposits to perform yourself rather than going to your HR every so often to change your DD? I like the concept, but I don’t want to upset my secretaries every few months either lol.


Depending on who your company uses for payroll. I think ADP will let you go onto their site and change it yourself.
In my case, we are a small company and I just ask our Payroll admin to change it, which just requires her to plug a new acct into her excel sheet. She knows what I’m up too and is happy to help. I also make sure pass along any really easy bonuses that she might be interested in like the recent sofi one.

Adam Jones

Thank you Matt! Great info!

Adam Jones

Thank you! I recently found your podcasts and love and now I am hooked!

[…] written a couple of times in the past about picking low-hanging fruit (see this recent post: Money moves: $3K in bonuses so far this year (low-hanging fruit, 2020 edition)). Bank bonuses can be easy money, and it doesn’t get a lot easier than this new SoFi bonus: […]