Is it worth it?
MAS
account with at least $25.00 and either make 5 debit card transactions
or 1 automatic deposit within 60 days. The $100.00 will be reported as
interest income. Each debit card transaction is charged $0.25. You
must keep the account open for at least 6 months. I didn't see anything
about a minimum balance required. All of my financial stuff is set up
through a credit union. If I go through with this, I would do an
automatic deposit, maybe $10.00 of each paycheck. Is it worth the hassle?
Marsha
Rod Speed
Only can say if its worth the hassle.
Gordon
I went through a simular thing to get a free
iPod. I thought it was worth it.
Michael Black
I found a 60gig iPod in a box of junk waiting for the garbage truck
towards the end of June. I've yet to deal with it, but I'm hoping it's
just the battery that needs replacing, I plug it into a usb outlet and
the LCD tells me the battery voltage is very low, and it never gets
better.
If I can get it going with a new battery, that's right up there with
the 17" LCD monitor I found on the sidewalk at the end of April when the
students were all leaving town, and right up there with the DVD recorder I
found last July in a recycling bin.
Michael
Bob F
>> I went through a simular thing to get a free
>> iPod. I thought it was worth it.
>>
> I found a 60gig iPod in a box of junk waiting for the garbage truck
> towards the end of June. I've yet to deal with it, but I'm hoping
> it's just the battery that needs replacing, I plug it into a usb
> outlet and the LCD tells me the battery voltage is very low, and it
> never gets better.
>
> If I can get it going with a new battery, that's right up there with
> the 17" LCD monitor I found on the sidewalk at the end of April when
> the students were all leaving town, and right up there with the DVD
> recorder I found last July in a recycling bin.
>
Try a real iPod charger on it. USB connection may not do it. Cheap ones are
available at dealextreme.com and other places. They also have batteries.
A very common problem on iPods is that connector to the hard drive comes loose
from being dropped. Open the case and unplug/replug the drive to fix it.
Lou
"MAS" <m...@bbbb.net> wrote in message news:i49r8h$gj5$1...@news.datemas.de...
and don't so much as look at offers of this sort. Only you can judge if the
effort involved is worth the money offered.
I don't use debit cards, but it would be easy enough to put enough money
into the account to do the weekly grocery shopping and pay with the debit
card. Just because you have set up your financial stuff through a credit
union doesn't mean you can't change if a better deal comes along.
I'd suggest you be sure of the minimum balance requirements, and if any
interest is paid on the account.
h
"Shawn Hirn" <sr...@comcast.net> wrote in message
news:srhi-EF0E54.0...@news.newsguy.com...
> brainer to me. Its a free $100. I took a similar deal a few years ago,
> no problem.
But it's not "free". You have to pay tax on it as interest income, plus make
5 debit card transactions or an automatic deposit, which would be impossible
for the self-employed and merely inconvenient for those with auto deposits
already set up in different accounts. Given the time it will take, not worth
the $70 you're likely to net after taxes. Plus the time to close the thing.
Vic Smith
>
>Well, the taxes on $100 more or less of interest income is not likely to
>be of any real significance to most but, like you, I don't see how
>$98.75 gain on a $26.25 "investment" over six months could possibly be
>worth the trouble but, remember, there is a segment of the population
>that deems itself clever in claiming the fractional percentage "refunds"
>from their banks for using their credit/debit cards to purchase already
>overpriced goods. Depending on the rest of the offer's fine print, the
>prospect of "something-for-nothing" might be worthwhile to some.
>Remember, it isn't the cash value that's important but the faux
>"principle" of having put one over on those evil banks.
That's a big part of it for some.
If you could pull it off as a family of 4 or 6 all with accounts and
working as a team and come up with $3-500 bucks after 6 months it
could be "fun."
Used to be posts here about opening a bank account to get some cheesy
transistor radio.
So this one sounds like a jackpot in comparison.
As always, you really have to read the fine print first.
> Additionally, one is forced to recognize the inherent genius of a
>promotional campaign that, in one felled swoop, isolates a population of
>fools who'd pay a per transaction fee to use a debit card. That simple
>ploy, I'm sure, produced a vast pool of potential tuna rife for the
>hooking.
Maybe you're right. But I think some marketing departments make these
offers just to be doing something to justify their jobs.
You could probably market a consumer offer to charge people for the
opportunity to incur more charges instead of actually offering
something.
Just call the deal "Prestige" or "Royal" or some other nonsense.
Why offer $98.75?
Might just get traffic in the banks and increase business.
Your choice.
It really seems like a deal if reading the fine print is worth it and
bears it out.
Do the required debits for normal spending and cut up the card.
After 6 months close the account and take the cash.
BTW, I got hit with a $10 "balance below minimum" charge on my Chase
checking account a few months ago.
They had changed the rules. They had apparently notified me with a
mailer that I just tossed in the trash.
Slick.
I was in the bank for something else and asked about the charge.
They told me what happened, and made some stupid name change to my
account but changed nothing else except it went back to no minimum
balance. I ate the 10 bucks.
Last month I paid a late charge and interest on my CC for the first
time in at least 15 years.
I waited doing a transfer to the account used to pay the CC bill to
get about 75 cents interest.
So I ended up doing the online CC payment on the last day.
Then I put it off all day, fell asleep in the afternoon and didn't get
to the computer until 5:30 PM.
When I hit the "Make Payment" button a box popped up saying that
payments made after 5:00 PM would be applied the next day.
Earning 75 cents interest cost me 74 bucks.
You should have heard me scream.
It's been a bad year of banking for me.
--Vic