Snag 17,000 MyPoints for Opening a Step Banking Account

Looking for a way to give your rewards balance a nice boost? There's a solid offer floating around where you can pocket 17,000 MyPoints just for opening a new Step banking account. It's a decent chunk of change if you were already considering a new financial app, especially one geared toward younger users. Let's break down what this deal actually involves and whether it's worth your time.

What You're Actually Signing Up For

This isn't just a simple 'click here' bonus. To get those 17,000 points, you need to become a Step customer. Step is a mobile banking platform that's pretty popular with teens and young adults, partly because they offer a secured Visa card without a credit check. The core requirement to trigger the bonus is setting up at least $500 in monthly direct deposits into your new Step account. This is a common tactic banks use to ensure you're using the account as a primary hub for your income.

• The Step app provides a spending account and a secured Visa card.
• They advertise a 5.00% APY on savings, but you typically need those direct deposits to unlock the highest rate.
• You can also earn up to 3% cash back on purchases with their card.
• The platform is designed to help build financial habits and credit history.

The Fine Print You Can't Ignore

The MyPoints side of things has its own rules. The 17,000 points won't land in your account immediately. They'll sit in a 'Pending' status for a full 32 days after you complete the offer. This waiting period is standard for shopping portals—it gives the merchant time to confirm you didn't return anything or cancel the account immediately.

• You must sign up through the MyPoints portal link for them to track your activity.
• Make sure all your sign-up information (name, email) matches your MyPoints account details.
• The offer is exclusively for brand new Step users. If you've ever had an account before, you won't qualify.
• MyPoints explicitly states they don't endorse Step's services, so you should evaluate the bank itself separately.

Is This Deal Right For You?

This offer makes the most sense for two types of people. First, if you're a young adult or a parent looking for a starter banking solution for a teen, and the Step platform's features appeal to you, then this bonus is a fantastic cherry on top. Second, if you're a regular MyPoints user who doesn't mind shifting a direct deposit to meet a requirement, the points value is compelling.

A Quick Word on MyPoints Value

What are 17,000 MyPoints actually worth? It varies, but they're most commonly redeemed for gift cards. As a rough estimate, 17,000 points often translates to about $100-$120 in gift card value, depending on the retailer and any ongoing promotions. It's a substantial reward, but remember you have to factor in the effort of changing your direct deposit and using a new bank.

Bottom Line

• The 17,000-point bonus is valuable, but requires a real commitment: opening a new bank account and setting up $500/month in direct deposits.
• This is best for those genuinely interested in Step's banking features for young adults, not just bonus chasers.
• Always ensure you click through from MyPoints and complete the sign-up in one session to ensure tracking.

Common Questions