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If you have a Bank of America credit card you can qualify for up to $220 in bonuses for opening a new checking account.
You receive a $100 credit on your credit card statement when you open the account and establish a qualifying direct deposit within three months.
Then you earn another $20 each month for up to six months by paying your Bank of America credit card bill online using your new checking account.
Those credits will be applied to that part of your balance being charged the highest interest rate too, not the lowest.
Here’s where you’ll find all of the details about the offer.
You need to open your new Bank of America checking account online using the offer code CHC220OL.
While any personal checking account will work, the promotion directs applicants to “MyAccess Checking,” which charges no monthly fee if you have a payroll or similar recurring check direct deposited.
Since you need that to qualify for more than half of the $220 bonus it seems like a good choice to us, too.
This is only for new customers. You can’t have another Bank of America checking now, or anytime within the past six months.
If you don’t have a Bank of America credit card, but would like to take advantage of the deal, there’s time.
You could sign up for the BankAmericard Cash Rewards Visa Signature Card — one of our favorite credit cards.
It has no annual fee, offers at least a 1% cash rebate on all purchases, and a 0% APR on purchases for the first 12 months.
After the introductory period ends, your rate will range from 12.99% APR to 20.99% APR (prime rate of 3.25% plus 9.74% to prime plus 17.74%), depending on your credit.
Once you have the card, you can go after the checking account bonus which doesn’t expire until Dec. 4, 2010.
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