How Bank Bonuses Helped Luke Welcome His New Daughter

We love helping families unlock more financial freedom and approach life’s milestones with confidence, so we were thrilled to connect with Utah reader Luke this week.

Since discovering BankBonus, he’s tapped into some awesome bonuses that helped him and his wife welcome a new baby girl and take their first family vacation.

Here’s Luke’s story.

The Bonuses

Last year I switched jobs, where it was easier and quicker to switch my payroll (completely online and automated). I started looking into how to capitalize on this and found BankBonus.com.

Over the last year, Luke has enjoyed a diverse lineup of promotions including a $100 Ally Invest bonus, a $200 checking account bonus from SoFi, and a 100,000-point Business Ink promotion from Chase.

The Process

Every week, Luke reads the latest “Bonuses Your Wallet Will Love” email to discover new promotions. He’s also created a spreadsheet to keep track of each offer’s requirements.

My key realization (framed by BankBonus.com—not the institutions themselves) was the return on investment for opening the accounts. Effectively it's like we can get 20%-40% cash back on credit cards, and up to 40% bonus on a bank account—if you stay organized this is in a matter of an hour or less worth of work.

Use our Bank Bonus Tracker Template

The Impact

Luke and his wife put their bank bonuses to use in the best way possible—to welcome their daughter into the world.

With the cash bonuses from their new accounts, they were able to cover the deductible on their delivery and avoid medical debt. And the travel points they’ve accumulated from credit card bonuses are helping them pay for their first family vacation.

Beyond the bonuses, Luke also noted that he’s enjoying his Chase account perks when traveling:

Recently we had one of our flights get canceled and Chase Travel took care of calling the hotels we had booked to get a refund for us. That was amazing and frankly kinda blew my mind.

Advice for Fellow BankBonus Readers

Luke’s biggest piece of advice for fellow bank bonus enthusiasts, and one that he learned from experience, is to stay organized:

Make sure you're keeping track of all your accounts and the requirements to avoid fees. I was hit by a couple—they were nothing compared to the total bonus amount I received, but I kick myself knowing I lost a fair dinner with my family to bank fees last year.

Luke’s BankBonus Review

I like that I can sort by state, and that it has all of the rules and the fine print all in one place. It helps me quickly determine what’s best and see if I’d really be able to qualify. Thank you for the work you guys do! You’re changing lives!