This week, we’re excited to bring you Sadie’s* story. An avid reader from Illinois, Sadie took her bank bonus hobby to the next level when she discovered BankBonus.com in a Google search for new promotions.
I've had this hobby for a while but hadn't been active the past few years due to some strains on my finances. I got a windfall last summer and decided to pick up my bank bonus hunting hobby again to make that money work harder.
The Bonuses
Sadie is no stranger to bank bonuses, accruing over $9,000 in new account promotions. What’s stood out to her the most about her recent bank bonuses is how high offers have climbed in recent years.
According to Sadie;
Previously you were lucky to find anything over $200. Now $300+ is the norm for checking accounts with boilerplate requirements, and there have been some really nice high-ticket savings bonuses recently.
Even on some accounts that don’t pay the highest interest rates, Sadie has been able to earn a nice return thanks to competitive bonuses.
The Process
Sadie has a fine-tuned process for keeping track of her bank bonuses. Using a Word doc, she tracks factors like:
- Payroll direct deposit settings
- Available funds
- Banks she has a relationship with
- Current offers and their requirements
- Important account dates
Use our Bank Bonus Tracker Template
When it comes to deciding which bonuses to pursue and which ones to pass on, Sadie explains,
I don't usually bother with bonuses that hinge on debit card spend activity, since my credit card rewards are usually higher. If the requirements are particularly fiddly or burdensome (disproportionate to what the potential bonus would be), I usually skip them.
The Impact
Sadie’s new accounts and bonuses have had a tremendous impact on her finances, allowing her to save aggressively.
I had an unpaid medical leave a few years back that ate up my savings and left me in a cycle of debt and stress, so now that I finally have a comfortable savings cushion again, I've been doing everything I can to grow it so that I don't find myself in that situation again.
Beyond the bonuses, some of her new accounts have given her perks like ongoing customer loyalty bonuses, international bill pay, and 5% interest on savings.
Tips for Fellow BankBonus Readers
Sadie has a few practical tips for other BankBonus readers:
Always save a copy of the bonus terms—I print the offer page as a PDF and keep it in a folder on my computer until it's paid. Read and understand what the banks require, not only to meet the bonus requirements but to ensure you don't have to pay fees that could eat into your profits.
READ MORE SUCCESS STORIES:
Sadie’s BankBonus Review
My favorite tool is the Bank Bonus Return Calculator—I have it bookmarked and use it to run the numbers quickly - so I don't have to do manual calculations to annualize potential returns - I also like the filters by state and account type, but wish there was a way to drill down further.
Try the Bank Bonus Return Calculator
Have a Success Story to Share?
If you’ve scored some awesome bank bonuses using our platform, we’d love to hear about it.
Tell us about your journey and insights by submitting our Bank Bonus Success Story form for a chance to be featured.
Your experience could be the motivation someone else needs. Share your story today!
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