When it comes to opening new bank accounts to take advantage of sign-up bonuses, keeping track of offers can be challenging, especially when there are so many different offers available from various banks and credit unions. However, with a little effort and the right tools, tracking bank account sign-up bonuses can be a straightforward process. Here are some tips for maximizing your earnings:
Use a Service like Churnoble:
One of the easiest ways to keep track of bank account sign-up bonuses is to use a service like Churnoble. Churnoble is a website that compiles bank offers and tracks sign-up bonuses, so you can easily find offers that fit your needs. Additionally, the service sends reminders when it is time to cancel an account or when a reward is due to expire, so you can stay on top of your accounts and rewards.
Focus on the Rewards that Offer the Most Value:
When it comes to choosing which sign-up bonuses to pursue, you'll want to focus on the ones that offer the most value. While cash bonuses are always nice, other rewards like points or miles can also offer significant value, especially if you're a frequent traveler or use credit cards to earn rewards. For example, some credit card companies offer sign-up bonuses of 50,000 to 100,000 points or miles, which can be redeemed for free flights, hotel stays, or other travel-related expenses.
Look for Offers on Multiple Accounts:
Some banks and credit unions offer bonuses for opening multiple accounts, such as a checking and savings account. For example, a bank may offer a $200 bonus for opening a checking account with direct deposit and a $150 bonus for opening a savings account with a minimum balance. By taking advantage of these offers, you can earn even more money and maximize your earnings.
Take Advantage of Referral Bonuses:
Another way to boost your earnings from sign-up bonuses is to take advantage of referral bonuses. Many banks and credit unions offer referral bonuses to customers who bring in new customers. For example, a bank may offer a $50 bonus for each friend or family member who opens a new account and meets certain criteria, such as making a minimum deposit or setting up direct deposit. By referring multiple people, you can earn hundreds of dollars in bonus rewards.
Keep Track of Expiration Dates:
Finally, it's important to keep track of the expiration dates for sign-up bonuses and rewards. Many bonuses have expiration dates, and if you don't use them in time, you'll lose out on the rewards. For example, a bank may offer a $200 bonus for opening a new checking account and meeting certain criteria within the first 90 days. If you don't complete the requirements within the time frame, you won't receive the bonus.
Tracking bank account sign-up bonuses can be a straightforward process, especially when you use a service like Churnoble and focus on the rewards that offer the most value. By opening accounts with multiple banks and credit unions, taking advantage of referral bonuses, and keeping track of expiration dates, you can maximize your earnings and give your bank account a boost.
Some people prefer to use Google spreadsheets or Excel for tracking these, however that may not be ideal or the easiest way to track your bonuses. In fact, using spreadsheets to track bank account sign-up bonuses can be more difficult and time-consuming than using a service like Churnoble. For one, spreadsheets require manual input of information, which can be tedious and prone to errors. Churnoble, on the other hand, compiles offers and updates them regularly, so users can easily sort through them and select the ones they want to take advantage of.
Churnoble offers plans that allow tracking of multiple accounts for up to four people under one account, which can be very convenient for families or groups of friends. In contrast, tracking sign-up bonuses for multiple people using a spreadsheet would require more time and effort, and it would be difficult to share the information with others. Another advantage of using Churnoble is that the service provides notifications for when it is time to cancel an account or when a reward is due to expire, which can save users time and help them avoid losing out on rewards.
Using Churnoble can streamline the process of tracking bank account sign-up bonuses and make it easier and more convenient for users. Whenever you're ready to start making money the easy way - give Churnoble a shot!