How to Qualify for the Chase $900 Bonus Offer

Quick answer

• Open a new Chase checking and savings account.
• Deposit a qualifying amount within a set timeframe.
• Maintain the balance for a specified period.
• Set up and complete direct deposits.
• Meet the minimum balance requirements for both accounts.
• Avoid closing accounts too soon after receiving the bonus.

Who this is for

• Individuals looking to open new Chase bank accounts.
• Those who can meet specific deposit and direct deposit requirements.
• Consumers seeking a one-time cash bonus for banking with Chase.

What to check first (before you act)

Goal and timeline

Before opening any new account for a bonus, clarify your banking needs. Do you need a checking account for daily transactions, a savings account for short-term goals, or both? Understand the promotional period for the bonus offer, which includes the deadline for opening the account, making deposits, and meeting the direct deposit requirements. Missing these deadlines means missing out on the bonus.

Current cash flow

Assess your ability to deposit and maintain the required funds without disrupting your regular bill payments or daily expenses. Ensure you have surplus cash that can be set aside for the promotional period. Unexpected expenses could deplete the funds needed to qualify for the bonus.

Emergency fund or safety buffer

Confirm you have a separate emergency fund. The money you plan to deposit for the bonus offer should not be your sole source of emergency funds. Relying on bonus money for unexpected events could lead to account closures or fees, disqualifying you from the bonus.

Debt and interest rates

Consider if the funds you plan to use for the bonus could be better utilized paying down high-interest debt. While a bonus is attractive, the interest saved on debt repayment might offer a more significant long-term financial benefit. Compare the bonus amount to the potential interest you would pay on existing debts.

Credit impact

Opening new bank accounts typically has a minimal impact on your credit score, as it’s considered a soft inquiry. However, opening multiple new accounts in a short period could be viewed negatively by some lenders. Focus on meeting the bonus requirements rather than opening accounts solely for the bonus if you plan to apply for credit soon.

Step-by-step (simple workflow)

1. Identify the Offer: Find the specific Chase $900 bonus offer details. This usually involves opening both a Chase checking account and a Chase savings account.

• What “good” looks like: You have the official offer documentation and understand all terms and conditions.
• Common mistake and how to avoid it: Assuming all Chase bonus offers are the same. Always read the specific terms for the offer you are pursuing.

2. Check Eligibility: Review the offer’s eligibility requirements. Often, these bonuses are for new Chase customers or those who haven’t had a Chase checking account in a certain period.

• What “good” looks like: You confirm you meet the “new customer” or “existing customer” criteria.
• Common mistake and how to avoid it: Not checking if you’re excluded based on previous account history. Verify Chase’s definition of a new customer.

3. Open Accounts: Open the eligible Chase checking and savings accounts online or in a branch.

• What “good” looks like: Both accounts are successfully opened, and you have your account numbers.
• Common mistake and how to avoid it: Opening only one of the required accounts. Ensure you open both the checking and savings accounts as specified.

4. Fund the Accounts: Deposit the required amount into your new accounts. The offer will specify the total amount needed across both accounts.

• What “good” looks like: The funds are deposited and reflect in your account balances.
• Common mistake and how to avoid it: Depositing less than the required amount. Double-check the minimum deposit requirement.

5. Set Up Direct Deposit: Arrange for qualifying direct deposits to be made into your new Chase checking account. This is a critical step for most Chase bonus offers.

• What “good” looks like: You have successfully set up payroll or other recurring direct deposits to hit your new account.
• Common mistake and how to avoid it: Not understanding what constitutes a “qualifying” direct deposit. It usually means deposits from an employer or government agency, not transfers from other personal accounts.

6. Meet Direct Deposit Threshold: Ensure the total amount of qualifying direct deposits meets the offer’s minimum threshold within the specified timeframe.

• What “good” looks like: The required direct deposit amount has been received by Chase.
• Common mistake and how to avoid it: Relying on one large deposit instead of multiple smaller ones if the offer specifies a certain number or frequency.

7. Maintain Balances: Keep the required minimum balances in both your checking and savings accounts for the duration specified in the offer terms.

• What “good” looks like: Your account balances remain above the minimums throughout the required period.
• Common mistake and how to avoid it: Withdrawing funds too soon, which can drop your balance below the requirement. Plan your finances to avoid touching these funds.

8. Wait for Bonus: After meeting all requirements, wait for Chase to deposit the bonus funds into your account. This typically takes several weeks to a few months.

• What “good” looks like: The bonus amount appears in your checking account.
• Common mistake and how to avoid it: Assuming the bonus is automatic and not checking your account. Monitor your account statements.

9. Keep Accounts Open: Do not close the accounts immediately after receiving the bonus. Chase usually requires accounts to remain open for a certain period (e.g., 6 months) to keep the bonus.

• What “good” looks like: You keep the accounts open for the specified retention period.
• Common mistake and how to avoid it: Closing accounts too soon, leading to the bonus being clawed back. Be aware of the retention period.

Common mistakes (and what happens if you ignore them)

Mistake	What it causes	Fix
Not reading the fine print	Missing key requirements, leading to disqualification.	Carefully read all terms and conditions before opening accounts.
Opening only one of the required accounts	You won’t qualify for the bonus, which typically requires both checking and savings.	Ensure you open both the checking and savings accounts specified in the offer.
Failing to meet the minimum deposit	Your account balance will be too low to qualify for the bonus.	Deposit the exact required amount or more into the designated accounts.
Incorrectly defining “direct deposit”	Your deposited funds may not count towards the bonus requirement.	Confirm with Chase or the offer details what constitutes a qualifying direct deposit (e.g., employer, government). Avoid internal transfers.
Withdrawing funds before the retention period	The bonus amount may be deducted from your account.	Maintain the required balances in both accounts for the entire promotional and retention period.
Closing accounts too soon	Chase may reclaim the bonus, and you may be ineligible for future offers.	Keep accounts open for at least the minimum period specified by Chase after receiving the bonus.
Not tracking progress	You might miss a deadline or fail to meet a requirement without realizing it.	Keep a record of your deposit dates, direct deposit amounts, and balance maintenance.
Assuming you’re eligible without checking	You might be excluded due to prior account history.	Verify your eligibility based on Chase’s criteria for new customers or those with past account relationships.
Not understanding the timeline	You could miss the window for deposits or direct deposits.	Note all relevant dates: account opening, deposit deadline, direct deposit period, and bonus posting.

Decision rules (simple if/then)

• If you have funds readily available and can meet the deposit and direct deposit requirements, then open the new Chase accounts because it’s a straightforward way to earn cash.
• If you are considering opening a new account for the bonus but don’t have extra funds to deposit, then wait until you do because you won’t meet the primary qualification.
• If you already have a Chase checking account, then check the specific offer terms carefully because many bonuses are for new checking customers.
• If your employer doesn’t offer direct deposit, then explore alternative qualifying direct deposit options with Chase, or consider if this offer is right for you.
• If you plan to close accounts soon after receiving the bonus, then reconsider because Chase typically requires accounts to remain open for a set period to keep the bonus.
• If you are unsure about what constitutes a “qualifying direct deposit,” then contact Chase directly before initiating the process because this is a common pitfall.
• If you have high-interest debt, then weigh the bonus amount against the interest you’d save by paying down debt, as debt repayment might be a better financial move.
• If you need to access the funds you plan to deposit for the bonus for emergencies, then find a different source for your emergency fund first, as these funds must remain in the accounts.
• If the bonus offer has passed its opening deadline, then look for future Chase promotions because they frequently offer similar incentives.
• If you have multiple bank accounts and are unsure which to use for direct deposit, then prioritize the new Chase account to meet the bonus requirements.
• If you are concerned about your credit score, then remember that opening bank accounts is usually a soft inquiry and has minimal impact.
• If you have questions about the offer’s specific details, then always refer to the official Chase promotion page or contact their customer service for clarification.

FAQ

How long do I need to keep the accounts open to keep the bonus?

Chase typically requires you to keep the accounts open for a specific period, often around six months, after the bonus is credited. Check the offer’s terms and conditions for the exact duration.

What if I’m an existing Chase customer but don’t have a checking account?

Eligibility often depends on whether you’ve had a Chase checking account within a specific timeframe (e.g., the last 12 months). Review the offer details carefully to confirm if you qualify.

Can I transfer money from another Chase account to meet the deposit requirement?

Generally, no. Qualifying deposits usually need to be from external sources, such as a transfer from a non-Chase bank account or a mobile check deposit from a non-Chase account. Internal transfers typically do not count.

What if my direct deposit is split between accounts?

The offer usually specifies that the direct deposit must go into the new Chase checking account. If your employer splits deposits, ensure the portion directed to Chase meets the qualifying criteria.

When will I receive the bonus?

The bonus is typically credited to your account within a few weeks to a couple of months after all requirements have been met. The exact timing will be detailed in the offer’s terms.

Can I open the accounts online?

Yes, Chase allows you to open most of its checking and savings accounts online, which is often the easiest way to start the process and apply for bonus offers.

What happens if I close the accounts before the retention period?

If you close the accounts before meeting the specified retention period, Chase will likely deduct the bonus amount from your final balance. You may also become ineligible for future new account bonuses.

What this page does NOT cover (and where to go next)

• Specific, real-time interest rates for Chase savings accounts. (Next: Visit Chase’s official website or a branch for current rates.)
• Detailed comparisons of Chase’s account features against other banks. (Next: Research competitor bank offerings for checking and savings accounts.)
• Tax implications of receiving bank bonuses. (Next: Consult a tax professional or review IRS guidelines on miscellaneous income.)
• Advanced strategies for maximizing interest on large sums of money. (Next: Explore investment options like CDs, money market accounts, or brokerage accounts.)
• The process for disputing a denied bonus. (Next: Contact Chase customer service to inquire about the specific reason for denial and the dispute process.)