Chase Sapphire Checking 60K point offer

Cal166

Diamond Member
May 6, 2000
5,081
8
81
locking up 75$k with a %0.01 interest rate is gross

but then again, it's only for 45 days

I was at the bank yesterday and the guy was promoting it to me but it's actually 90days.

"To qualify for the bonus, you need to maintain those qualifying deposits for 90 days."
 

Zorba

Lifer
Oct 22, 1999
14,519
9,895
136
I was thinking about doing this. Any idea on how hard it is to close the account and get your money back?

But LOL at them actually thinking anyone that has 75k laying around is going to leave it in an account only making 0.01% and still has fees.
 

Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
I don't think it is a good deal because:

1. You get 60K UR points or about $600 cash value (1% cash out rate at Chase).
2. You have to keep $75K USD at Chase for 90 days or about 3 months.
3. If you keep those $75K USD in several high paying reward checking accounts that are paying 4% or more currently, you would get about $750 for 3 months.
4. $750>>>>$600.

All numbers are rounded up and estimated. If it was for 100K UR points like the CSR CC did a few months ago, then I would consider the offer.
 

madoka

Diamond Member
Jun 22, 2004
4,344
712
121
I don't think it is a good deal because:

1. You get 60K UR points or about $600 cash value (1% cash out rate at Chase).
2. You have to keep $75K USD at Chase for 90 days or about 3 months.
3. If you keep those $75K USD in several high paying reward checking accounts that are paying 4% or more currently, you would get about $750 for 3 months.
4. $750>>>>$600.

All numbers are rounded up and estimated. If it was for 100K UR points like the CSR CC did a few months ago, then I would consider the offer.

Since UR points are worth 50% more for travel, assuming I'm planning a trip, wouldn't those points be worth $900 to me?
 

Dr. Detroit

Diamond Member
Sep 25, 2004
8,152
619
126
3. If you keep those $75K USD in several high paying reward checking accounts that are paying 4% or more currently, you would get about $750 for 3 months.

Where are these high reward checking accounts that allow $75K @ 4% - generally there capped at $2-5K max.

I use ally - paying 2.1% on liquid CD's with no limit.
 

Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
Since UR points are worth 50% more for travel, assuming I'm planning a trip, wouldn't those points be worth $900 to me?

Yes, it will worth more IF you use those points for travel related expenses AND only via Chase travel portal. That's why I said "cash value" in my previous post.
 
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Svnla

Lifer
Nov 10, 2003
17,999
1,396
126
Where are these high reward checking accounts that allow $75K @ 4% - generally there capped at $2-5K max.

I use ally - paying 2.1% on liquid CD's with no limit.

I have several right now, they all pay 4% or more and most of them are max out at $10K and one is max out at $20K. You can't just put all $75K in one entity. That's why I said "several" in my previous post.

Use Google search for "highest interest rates reward checking" and you will see. Look at www.depositaccounts.com/


Maybe your state/area do not have them? Then you may have to do it online. There are several CUs in MI and IL that are paying well but I can't recall their names right now.
 
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ponyo

Lifer
Feb 14, 2002
19,689
2,811
126
I think I'm going to do this since I do have $75k in cash laying around earning 0%.