[NY] Heritage Financial Credit Union $300 Checking Bonus, Direct Deposit Not Required

Offer at a glance

Maximum bonus amount: $300

Availability: Anyone who lives, works, worships, volunteers, or goes to school in Orange, Ulster, Dutchess, or Rockland, Pike, Sullivan, and Sussex Counties qualifies for membership

Direct deposit required: Yes, but any external deposit will work

Additional requirements: None

Hard/soft pull: Unknown

ChexSystems: Unknown

Credit card funding: Unknown

Monthly fees: $10, avoidable

Early account termination fee: Unknown

Household limit: None listed

Expiration date: None listed

The Offer

Direct link to offer

Heritage Financial Credit Union is offering a bonus of $300 when you open a new checking account and complete the following requirements:

Set up external deposits to your Heritage Direct Checking account that total $1,000 or more over 90 days

Receive $300 in your account in the fourth statement cycle following account opening

The Fine Print

Eligible for the Bonus Offer.An existing member with an HFCU checking account may switch their checking account over to this new product, however, they will not receive the $300 bonus.They will receive the additional benefits listed for the Heritage Direct Checking account.

To receive a one-time $300.00 bonus (“Bonus”) a member must: open a Heritage Direct Checking and within 90 days of account opening, enroll in e-statements and have 2 (two) or more new qualifying external electronic deposits totaling $1,000.00 or more (transfers from one account to another, wires, mobile deposits, P2P or deposits made at a branch or ATM are not considered a qualifying electronic deposit.)

The Bonus will be credited to the account in the 4th statement cycle from the account opening, as long as the account is open, active and in good standing.

Appropriate tax reporting will occur, please consult your tax advisor with questions.Only one bonus will be awarded per primary member, regardless of the number of accounts opened.

All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $10 monthly fee.

To avoid the service fee the account must maintain a monthly minimum balance of $500.00 or have 10 (ten) Point of Sale (POS) external transactions per statement cycle and be enrolled in e-statements.Program criteria subject to change without notice.All account applications are subject to approval.

Early Account Termination Fee

I wasn’t able to find a fee schedule so unsure if there is any EATF.

Our Verdict

Seems like an easy bonus for $300, especially if it turns out to be a soft pull.Share your experiences in the comments below.

Useful posts regarding bank bonuses:

Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
Publisher: Source link

Your email address will not be published. Required fields are marked*

Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.