Snag a $300 Bonus from Carolina Trust FCU: What You Need to Know

Looking for a solid checking account bonus that doesn't require moving mountains? Carolina Trust Federal Credit Union has a $300 offer on the table that's worth a look, especially if you're in South Carolina. It's not the simplest bonus to earn, but with some planning, that $300 could be a nice boost to your finances. Let's break down exactly what it takes to qualify and whether it's the right move for you.

The Gist of Earning Your $300

This isn't a 'set it and forget it' bonus. You'll need to actively use the account for three months after opening it. The clock starts ticking the day your new Rewards+ Checking account is approved.

For each of those first three months, you must complete two core tasks and then pick two more from a list of activity options. It sounds like a lot, but it's manageable if you plan to use this as a primary account.

• You must enroll in e-statements.
• You must log into their digital banking at least once each month.

Picking Your Two Monthly Activities

On top of the e-statements and login, you need to satisfy two of these four conditions every single month for three months. Mix and match as needed.

• Route a minimum of $1,000 in direct deposits into the account each month.
• Make 12 separate debit card purchases (point-of-sale or online) monthly.
• Have an existing non-revolving personal loan (like an auto or personal loan) with Carolina Trust for $10,000 or more.
• Have an active mortgage that is both originated and serviced by the credit union.

Practical Tips and Potential Pitfalls

The most straightforward path for many will be combining the direct deposit and debit card purchase requirements. If your employer's payroll can send at least $1,000 here, you're halfway there. Then, just use this debit card for your everyday coffee, gas, and grocery runs—twelve swipes a month goes by quickly.

A major thing to watch: the monthly fee. If you don't keep meeting the requirements to waive the $5.95 fee after the bonus period, you'll start getting charged. The fee is waived for younger members (18-24), which is a nice perk for students or recent grads.

Also, be aware of membership eligibility. This is a credit union, so you need to live, work, worship, or attend school in their service area (parts of South Carolina and Brunswick County, NC) or be a family member of an existing member. Always double-check your eligibility directly with them before applying.

Is This Bonus Right For You?

This offer makes the most sense if you can naturally meet the requirements without jumping through hoops. If you were already planning to switch your direct deposit and use a new debit card regularly, then earning $300 for it is a fantastic deal.

However, if meeting the $1,000 direct deposit threshold is a stretch, or you simply don't use a debit card often, this could become a chore. Remember, you have to do this for three consecutive months. One slip-up and the bonus is off the table.

Compared to some national bank bonuses, the $300 is competitive, but the requirements are more involved. It's a good fit for someone in their service area looking for a new primary checking account with a credit union's typical benefits, like potentially better loan rates and lower fees overall.

Bottom Line

• Plan to use this as a primary checking account for at least 3 months to earn the bonus.
• The direct deposit + 12 debit card purchases combo is the most controllable path for most people.
• Don't forget the ongoing monthly fee waiver requirements after you get the bonus.

Common Questions