Quorum Federal Credit Union is offering a $300 cash bonus when you open a new QChoice Checking account and satisfy all the account requirements:
- Enroll in eStatements
- Maintain minimum monthly direct deposit(s) totaling $1,000 OR a minimum average daily balance of $5,000
- Conduct 10 or more transactions per month for the first 3 consecutive months
- Deposits, withdrawals, debit card purchases, bill pay, checks, DD etc
If you’ve satisfied the transaction and QChoice account requirements within the first 90 days of account opening, $300 will be deposited into your QChoice checking account within 120 days of account open date.
QChoice checking has a $10 monthly fee which can be waived with a minimum monthly direct deposit(s) totaling $1,000 or minimum average daily balance of $5,000.
To be eligible for this offer, you need to sign up for American Consumer Council or Select Savers Club. A Basic Savings account is required to set up Quorum membership and it will automatically be opened and funded with a $5 minimum balance during application.
Members with an existing checking account are not eligible for this promotion.
- Apply Here
- Account Type: QChoice Checking
- Availability: Nationwide
- Expiration Date: None
- Inquiry Type: Hard pull (Experian)
- Opening Deposit Credit Card Funding: $2,500
- Direct Deposit Requirement: $1,000 (optional)
- Additional Requirements: $5,000 minimum balance instead of DD
- Monthly Fee: $10 (waivable with $1,000 DD or minimum daily balance of $5,000)
- Closing Account Fee: None
This is a nice bonus, but there’s a few negatives as well. It looks like a hard pull, so that might be a turn off for some. Also approvals are not automatic, many people report application going into review after submission. Also make sure to complete either the $1,000 DD or the $5,000 minimum balance. It serves to keep the account fee free, but it’s also a requirement for the bonus.
On the plus side you can fund with a credit card up to $2,500. That should give you some extra points/miles/cash back or it will help you towards meeting minimum spend requirements. Just make sure to lower the CA limit to less than the amount you plan to fund.