How I made $1,550 by opening a Chase business checking account

One of the most satisfying parts of my day is checking my mail and throwing all of the junk into recycling. But there was one piece of junk mail I couldn’t ignore — a $300 offer from Chase to open a business checking account.

The fine print was easy enough:

  • Deposit $1,000 within 20 days of opening to account
  • Keep at least $1,000 in the account for 6 months
  • Pay a $15/month fee if my balance goes under $1,500 (essentially, making it so I need to keep $1,500 in the account)

After doing some quick math, it was easy to see that the $300 I would earn would far exceed what I would make if I kept that money in savings. The only downside was that I needed to go to an actual Chase brand to open the account.

I’m not going to lie – it was a difficult process. I called in advance, they said they had space, and I arrived at 4:30pm on a weekday. The process to around an hour and a half, and I found myself leaving at 6pm when the office was closing.

While opening the account, I was told that I was pre-approved for a Chase Ink Business Preferred card and that, if I came back in person a few days later to open the card with the teller’s manager, I would get a 100,000 sign-up bonus instead of the regular 80,000. I couldn’t believe I qualified at all for the card — mostly because I already have the card (and you usually can’t sign up for 2 of the same card).

Although I didn’t want to head back to Chase, and was originally fine with the $300 offer, the opportunity to get 100,000 Chase points (roughly valued at $0.0125/point, or $1,250) was too good to pass up and worth the $95/year annual fee.

I was completely unsure that I would qualify to get the same card twice, so I had the teller write down a note saying that I would for sure get this card, that I would receive 100,000 Chase points, and, optimistically, that my visit would only take 15 minutes. My friends that it was so cute that I was being this optimistic.

But, having just left Chase, I have to report that it all worked out, my new Chase Ink Business Preferred card is on its way (and, as soon as I get it, I’ll be canceling the “old” one), and I am currently one happy customer.

If you’re looking to get this offer, login to your Chase account and, under accounts, you may see a banner advertising this promotion. It’s a targeted offer, so not everyone qualifies and you need to have a business to open an account. But if you do qualify, it’s an offer worth considering.