Chase's $900 Combo Bonus: A Solid Deal with Some Fine Print

Alright, let's talk about a bank bonus that's been making the rounds. Chase is dangling a pretty tempting carrot: up to $900 for opening a checking and savings account. That's real money, no doubt. But as with any good offer, the devil is in the details. Is it worth moving your money around for? Let's break it down, figure out who it's really for, and point out the potential pitfalls so you can decide if it's a good fit for your wallet.

How the $900 Actually Breaks Down

This isn't a single, simple $900 payout. It's structured as three separate bonuses that stack together, which is important to understand for planning.

First, the checking account piece is relatively straightforward. Open a Chase Total Checking account, get a direct deposit to hit it within 90 days, and you'll get $300. The direct deposit doesn't have a minimum amount stated, which is nice.

The savings bonus requires more commitment. You need to bring over at least $15,000 in 'new money'—funds not already at Chase—within your first 30 days. Then, you have to park that full amount and not let it dip below $15,000 for a full 90 days from when you enroll with the coupon. Do that, and you earn $200.

Here's the kicker: if you open both accounts at the same time and successfully complete the requirements for each, Chase throws in an extra $400 on top. That's how you get to the full $900. So, $300 + $200 + $400 = $900.

The Practical Stuff You Need to Know

Before you get too excited, let's talk logistics and requirements. This offer has a few gates you need to pass through.

You absolutely need a special coupon code to get this deal. You can get one by entering your email on Chase's offer page. Sometimes these codes are also sent via direct mail, so it's worth checking your physical mailbox or USPS Informed Delivery if you use it.

Crucially, you are not eligible if you currently have a Chase checking or savings account. The offer is also off the table if you've closed one within the last 90 days, or if you closed an account with a negative balance in the past three years. Chase has a 'once every two years' rule for these types of bonuses, so if you've gotten a similar offer from them recently, you might be locked out.

• You'll need to keep the accounts open for at least six months, or Chase can take the bonus back.
• The bonus money itself will be reported as interest income on a 1099-INT form, so remember to account for that come tax time.

Watch Out for the Fees and Fine Print

This is where your potential profit can get nibbled away. Both accounts have monthly service fees if you don't meet certain conditions.

The Chase Total Checking account has a $15 monthly fee. You can avoid it by doing one of a few things: having at least $500 in qualifying direct deposits each month, keeping a $1,500 daily balance, maintaining a $5,000 average balance across linked Chase accounts, or linking it to a specific qualifying checking account. For many people, the $500 direct deposit is the easiest path.

The Chase Savings account has a $5 monthly fee. To waive it, you can keep a $300 daily balance, set up an automatic transfer of $25+ from checking each month, or link it to a qualifying checking account.

Also, note the 'new money' requirement for the savings bonus. If you already have $20,000 sitting in a Chase investment account, moving it to the new savings account won't count. The funds need to come from outside Chase.

Who Should (and Shouldn't) Consider This Offer

This bonus is a fantastic deal for a specific person: someone who doesn't bank with Chase, has a steady direct deposit, and has a chunk of cash (at least $15,000) they can afford to park in a low-interest savings account for three months. For that person, earning $900 on that $15k is a great short-term return.

On the other hand, it's probably not worth the hassle if you're an existing Chase customer, if you don't have that much liquidity to move around, or if you'd have to jump through major hoops to change your direct deposit. Also, if your current savings account pays a competitive interest rate, you need to factor in the interest you'd be giving up by moving the money to Chase's typically lower-yielding savings account.

Bottom Line

• The $900 is real, but it's three separate bonuses ($300 + $200 + $400) with different requirements.
• The savings bonus requires a serious commitment: $15,000 locked up for 90 days.
• Monthly fees can eat into your profit if you don't meet the waiver requirements.
• Perfect for someone new to Chase with a direct deposit and spare cash to park.

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