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FREE $100 Gas Card at Flagstar Bank

Posted in Bank Deals & Bonuses by Bankaholic
March 2, 2008 02:57 AM - 7 Comments

FLAGSTAR BANK
Gas prices are skyrocketing as oil prices reach $109 per barrel and rising. Fortunately, Flagstar Bank is running a promotion where you can get a free $100 gasoline card for signing up for their checking account w/ $250 per month of direct deposits. Your account must be open for 6 months to qualify.

Another way to save on fuel costs is by paying at the pump using a gas rewards credit card. By using rewards cards, you can save anywhere from 3% to 10% on gas! Just ALWAYS be sure to pay off your balance in full every month.

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Comments (7)
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  1. o.t. said:
    on March 16th at 05:24 am

    not sure its worth it- have to put in over $250 each month for 6 months using direct deposit- that’s $1500 being put in to a near- zero percent interest account just for $100 gas card

  2. NT said:
    on March 17th at 02:43 pm

    If they will keep cutting the Interest Rate, wouldn’t the people with money move their money out of the country to earn higher interest?

  3. ben4277 said:
    on March 18th at 02:24 pm

    In response to o.t.: A $100 return in 6 months on an investment of $1500 comes out to roughly a 13% APR. This is just an approximation, but I’d say it’s more than worth it. Also, I haven’t read all the details as far as minimum balance is concerned, but you could immediately transfer whatever surplus you have over the minimum balance back into your high yield account(s). The biggest pain would be switching your direct deposit around with your employer.

  4. Muni said:
    on March 21st at 03:38 am

    Does anyone know whether flagstar does hard credit check for opening a new checking account?

  5. Bill said:
    on March 26th at 09:14 pm

    Review the terms of what and when the interest posts INTO the account and how many deposits CUMULATIVEly YOU MAKE.. It Will NOT keep up with the rising Gas prices while the Interest keeps declining with EACH Fed Rate reduction…As of 3/25 the Banks will give back to YOU no more than a range of 1.5 % PER YEAR to Max of 4.15% PER YEAR and GAS is $3.20 per gallon average… about the price of ONE to 1.5 fillups. NOT MUCH return on investment. Beware of FEE(s) and penalties which the Bank MAY levy on the Principal / Deposits.

  6. Tom said:
    on March 27th at 04:08 pm

    Flagstar pulled my transunion credit report (hard inquiry) when I applied for an account online. I just signed up a week or so ago, so I haven’t received the gas card yet. The interest rate is poor ~0.5%. There is another $15 in bonuses available if you use their bill pay. May or may not be worth it.

  7. car articles said:
    on June 13th at 02:47 am

    This sounds like a good deal but six month is a strecth. In addition not too many people can do $250 deposit religiously. If they were in my part of the country i would consider it

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