Marcus $100 bonus

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3000
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Re: Marcus $100 bonus

Post by 3000 »

Thank you for posting this. I just opened an account to take advantage of the offer. I like the bonus tracker on the website too.
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vectorizer
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Re: Marcus $100 Bonus (2022 edition)

Post by vectorizer »

tj wrote: Thu Jan 20, 2022 5:08 pm
vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
If it is possible, it seems like you would need to get your Marcus down to a token amount before you enroll in the offer.
I don't understand this comment. Why does the Marcus account have to be a token amount before enrolling? All I would need is pull $10k out of Marcus so I could put it back after signing up. What difference does it make how much is left behind, so long as it stays there for the required 90 days? Please explain.
tj
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Re: Marcus $100 Bonus (2022 edition)

Post by tj »

vectorizer wrote: Thu Jan 20, 2022 5:27 pm
tj wrote: Thu Jan 20, 2022 5:08 pm
vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
If it is possible, it seems like you would need to get your Marcus down to a token amount before you enroll in the offer.
I don't understand this comment. Why does the Marcus account have to be a token amount before enrolling? All I would need is pull $10k out of Marcus so I could put it back after signing up. What difference does it make how much is left behind, so long as it stays there for the required 90 days? Please explain.
if you enroll in the offer before you take your $10k out, you aren't adding $10k, you are adding back a removed $10k which is equivalent to adding $0.

In years past dates mattered and they were clear about cutoffs, perhaps they don't have such stipulations this time around.
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SmileyFace
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Re: Marcus $100 Bonus (2022 edition)

Post by SmileyFace »

tj wrote: Thu Jan 20, 2022 5:45 pm
vectorizer wrote: Thu Jan 20, 2022 5:27 pm
tj wrote: Thu Jan 20, 2022 5:08 pm
vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
If it is possible, it seems like you would need to get your Marcus down to a token amount before you enroll in the offer.
I don't understand this comment. Why does the Marcus account have to be a token amount before enrolling? All I would need is pull $10k out of Marcus so I could put it back after signing up. What difference does it make how much is left behind, so long as it stays there for the required 90 days? Please explain.
if you enroll in the offer before you take your $10k out, you aren't adding $10k, you are adding back a removed $10k which is equivalent to adding $0.

In years past dates mattered and they were clear about cutoffs, perhaps they don't have such stipulations this time around.
Not 100% sure what either of you are saying. It's simple - if you have an existing account:
1) Pull out $10K
2) enroll in the offer (wait a day or two after step 1)
3) put back the $10K
4) don't take any out for 90 days.
Worked last time.

If you think you might need some of the funds within 90 days take out more than the $10K in step 1.
Last edited by SmileyFace on Thu Jan 20, 2022 5:56 pm, edited 2 times in total.
tibbitts
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Re: Marcus $100 Bonus (2022 edition)

Post by tibbitts »

tj wrote: Thu Jan 20, 2022 5:07 pm
H-Town wrote: Thu Jan 20, 2022 4:39 pm
tj wrote: Thu Jan 20, 2022 3:37 pm
an_asker wrote: Wed Jan 19, 2022 11:46 am
tj wrote: Wed Jan 19, 2022 11:33 am [...]
This is why I always keep only a token amount at Marcus.[...]
Do you get better rates elsewhere?
I don't feel like Marcus has an overly exciting rate? I'm getting 0.55% at Alliant.
AARP get Marcus up to 0.6%.
The interest rate is irrelevant. The $100 bonus for $10k deposit is like a 3 month 4% CD on that $100.

When you already have your $10k of savings at Marcus, you don't get to benefit from that. Maybe you don't care about that though.
The interest rate is relevant, just not to this particular bonus if that's what you mean. Lots of people have six figures in a high interest account, so they can earn the same extra $100, or more, by moving it to where they can earn a .1% higher rate for a year as is provided by the $100 bonus. So the information about the additional .1% is helpful for anyone it might apply to. It's not as big a difference per day as the $100 bonus (as I pointed out with the .05% increase), but it can matter over time, especially if you invest much more than the $10k required for the bonus.
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Re: Marcus $100 Bonus (2022 edition)

Post by tj »

tibbitts wrote: Thu Jan 20, 2022 5:50 pm
tj wrote: Thu Jan 20, 2022 5:07 pm
H-Town wrote: Thu Jan 20, 2022 4:39 pm
tj wrote: Thu Jan 20, 2022 3:37 pm
an_asker wrote: Wed Jan 19, 2022 11:46 am
Do you get better rates elsewhere?
I don't feel like Marcus has an overly exciting rate? I'm getting 0.55% at Alliant.
AARP get Marcus up to 0.6%.
The interest rate is irrelevant. The $100 bonus for $10k deposit is like a 3 month 4% CD on that $100.

When you already have your $10k of savings at Marcus, you don't get to benefit from that. Maybe you don't care about that though.
The interest rate is relevant, just not to this particular bonus if that's what you mean. Lots of people have six figures in a high interest account, so they can earn the same extra $100, or more, by moving it to where they can earn a .1% higher rate for a year as is provided by the $100 bonus. So the information about the additional .1% is helpful for anyone it might apply to. It's not as big a difference per day as the $100 bonus (as I pointed out with the .05% increase), but it can matter over time, especially if you invest much more than the $10k required for the bonus.
Oh, I definitely don't have six figures sitting in a savings account
tibbitts
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Re: Marcus $100 Bonus (2022 edition)

Post by tibbitts »

tj wrote: Thu Jan 20, 2022 5:56 pm
tibbitts wrote: Thu Jan 20, 2022 5:50 pm
tj wrote: Thu Jan 20, 2022 5:07 pm
H-Town wrote: Thu Jan 20, 2022 4:39 pm
tj wrote: Thu Jan 20, 2022 3:37 pm

I don't feel like Marcus has an overly exciting rate? I'm getting 0.55% at Alliant.
AARP get Marcus up to 0.6%.
The interest rate is irrelevant. The $100 bonus for $10k deposit is like a 3 month 4% CD on that $100.

When you already have your $10k of savings at Marcus, you don't get to benefit from that. Maybe you don't care about that though.
The interest rate is relevant, just not to this particular bonus if that's what you mean. Lots of people have six figures in a high interest account, so they can earn the same extra $100, or more, by moving it to where they can earn a .1% higher rate for a year as is provided by the $100 bonus. So the information about the additional .1% is helpful for anyone it might apply to. It's not as big a difference per day as the $100 bonus (as I pointed out with the .05% increase), but it can matter over time, especially if you invest much more than the $10k required for the bonus.
Oh, I definitely don't have six figures sitting in a savings account
But the point is that lots of Bogleheads do, so .1% does matter somewhat to them. There have been numerous discussions of using high-yield savings accounts in lieu of CDs or short-term bond funds, especially in the current rate environment.
H-Town
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Re: Marcus $100 Bonus (2022 edition)

Post by H-Town »

tj wrote: Thu Jan 20, 2022 5:07 pm
H-Town wrote: Thu Jan 20, 2022 4:39 pm
tj wrote: Thu Jan 20, 2022 3:37 pm
an_asker wrote: Wed Jan 19, 2022 11:46 am
tj wrote: Wed Jan 19, 2022 11:33 am [...]
This is why I always keep only a token amount at Marcus.[...]
Do you get better rates elsewhere?
I don't feel like Marcus has an overly exciting rate? I'm getting 0.55% at Alliant.
AARP get Marcus up to 0.6%.
The interest rate is irrelevant. The $100 bonus for $10k deposit is like a 3 month 4% CD on that $100.

When you already have your $10k of savings at Marcus, you don't get to benefit from that. Maybe you don't care about that though.
just moved 10k out, registered for the bonus, and moved 10k back in....
Time is the ultimate currency.
Johnny Thinwallet
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Re: Marcus $100 Bonus (2022 edition)

Post by Johnny Thinwallet »

vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
I'm going to give it a shot. In fact, I'm going to withdraw $30k from Marcus next week. I'll send $20k to buy I Bonds, then enroll in the Marcus offer, and after enrolling will send $10k back to Marcus. I might spread the Marcus withdraw, enroll, and deposit out over a few days, but I figure it's worth a shot.
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SmileyFace
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Re: Marcus $100 Bonus (2022 edition)

Post by SmileyFace »

Johnny Thinwallet wrote: Thu Jan 20, 2022 7:06 pm
vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
I'm going to give it a shot. In fact, I'm going to withdraw $30k from Marcus next week. I'll send $20k to buy I Bonds, then enroll in the Marcus offer, and after enrolling will send $10k back to Marcus. I might spread the Marcus withdraw, enroll, and deposit out over a few days, but I figure it's worth a shot.
90% sure it will work. Good news is - their website tells you that you are on track to recieve.
Maybe I shouldn't have told you all - if too many of us start doing they may modify the terms next time :)
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

I tried to make it a little less obvious last year by doing oddball amounts, and by channeling money through multiple linked accounts. That is, not funding directly from the same account I withdrew to. A little more legwork and time commitment, but there were no issues.
Walkure
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Re: Marcus $100 bonus

Post by Walkure »

Ok, so I need to pull 10k out of Marcus, then enroll, then put it back it before 1/27 so I can run out the 90 day clock prior to 4/28 which is the last day to put in a buy for I-bonds before the May rate announcement. Whew! :mrgreen:
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anon_investor
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Re: Marcus $100 bonus

Post by anon_investor »

Walkure wrote: Fri Jan 21, 2022 9:11 am Ok, so I need to pull 10k out of Marcus, then enroll, then put it back it before 1/27 so I can run out the 90 day clock prior to 4/28 which is the last day to put in a buy for I-bonds before the May rate announcement. Whew! :mrgreen:
$100 bonus on $10k for 3 months works out to APY of 4%. Just putting your $10k into I Bonds at the end of January will get you APY 7.12% during that same 3 month period. Why not just put the $10k into I Bonds next week? If you factor in taxes, the spread is even wider.
tj
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Re: Marcus $100 bonus

Post by tj »

anon_investor wrote: Fri Jan 21, 2022 9:18 am
Walkure wrote: Fri Jan 21, 2022 9:11 am Ok, so I need to pull 10k out of Marcus, then enroll, then put it back it before 1/27 so I can run out the 90 day clock prior to 4/28 which is the last day to put in a buy for I-bonds before the May rate announcement. Whew! :mrgreen:
$100 bonus on $10k for 3 months works out to APY of 4%. Just putting your $10k into I Bonds at the end of January will get you APY 7.12% during that same 3 month period. Why not just put the $10k into I Bonds next week? If you factor in taxes, the spread is even wider.

Yeah, I'm thinking I might not bother with the Marcus $100 bonus this year and just get some more I Bonds instead. I put $10k in before they announced the 7% rate, which is going to be a blended 5%+ rate on the $10k I purchased in late October, will be curious to see what the blended rate on the next batch will be.
Wrench
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Re: Marcus $100 Bonus (2022 edition)

Post by Wrench »

Johnny Thinwallet wrote: Thu Jan 20, 2022 7:06 pm
vectorizer wrote: Thu Jan 20, 2022 4:54 pm
SmileyFace wrote: Wed Jan 19, 2022 1:44 pmLast year I transfered $10K out of Marcus, Signed up for the bonus and then transfered the $10K back in. Received bonus. Plan on doing it again this time. I am not guaranteeing it will work but I have no reason not to try again since it did last time. They are paying me $100 to keep my balance with them for 90 days including the $10K I could be moving to somewhere else versus back to them.
Whoa, Marcus doesn't care you if you pull $10k out of your existing Marcus account into an external account (let's say Ally), then sign up for the Marcus bonus, then transfer $10k back from the same Ally account to qualify for the bonus? That's really surprising, but doing this would be the only way for me to get the bonus since I don't have another source of $10k (without an IRA distribution).
I'm going to give it a shot. In fact, I'm going to withdraw $30k from Marcus next week. I'll send $20k to buy I Bonds, then enroll in the Marcus offer, and after enrolling will send $10k back to Marcus. I might spread the Marcus withdraw, enroll, and deposit out over a few days, but I figure it's worth a shot.
You could also short a 20 May 2022 box trade with spread of 100, borrowing $9881 at 0.598% (as of last quote at the end of the week). Put proceeds plus $19 into Marcus, leave for 90 days to get $100 + ~110 days of 0.6% interest (assuming one has the AARP plus up) then repay loan in May with the $10K. Whether this effort if worth $100 is up to you, but it is essentially free money then. Would you go out of your way to pick up a $100 bill off the sidewalk? :happy

Wrench
evelynmanley
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Re: Marcus $100 bonus

Post by evelynmanley »

Just curious - would you consider the Marcus bonus more worthwhile than the Discover bonus? It's true that Discover offers only .40% interest as opposed to .5% for Marcus, but the bonus options are larger.

https://www.depositaccounts.com/banks/d ... nk/offers/


Deal Summary: $150 or $200 bonus when opening a new Online Savings account now through March 15, 2022.

Availability: Nationwide (internet bank)

Discover’s long-running $150/$200 Online Savings bonus has been extended once again. The current promotion runs through March 15, 2022, and is available to new customers only: existing or prior Discover savings customers are not eligible.
Bonus Requirements

As stated on Discover's promotion page, the bonus requirements are as follows:

Open a new Online Savings account by March 15, 2022.
Use offer code BP122 when applying.
$150 bonus – fund with at least $15k* within 30 days of account opening.
$200 bonus – fund with at least $25k* within 30 days of account opening.
Maximum bonus is $200 per account.
Not available to existing or previous Discover savings customer.
Account must be opened when bonus is credited.
Bonus will be credited within 30 days of the account qualifying for the bonus.

*The fine print on the promotion page reads, “Deposit into your account a total of at least $15k/$25k,” implying that multiple deposits can be used to meet the $15k or $25k threshold. According to CSR, cumulative deposits are allowed, as long as they are made within 30 days of account opening.
maywood
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Re: Marcus $100 bonus

Post by maywood »

evelynmanley wrote: Sat Jan 22, 2022 12:33 pm Just curious - would you consider the Marcus bonus more worthwhile than the Discover bonus? It's true that Discover offers only .40% interest as opposed to .5% for Marcus, but the bonus options are larger.

https://www.depositaccounts.com/banks/d ... nk/offers/


Deal Summary: $150 or $200 bonus when opening a new Online Savings account now through March 15, 2022.
The Discover bonus is very tempting, I think I will do that. And you get your bonus right away!
If you look on the website is says the online savings earn .5%, which is the same as Marcus.
There's no referral bonus is there?

maywood
drk
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Re: Marcus $100 bonus

Post by drk »

evelynmanley wrote: Sat Jan 22, 2022 12:33 pm Not available to existing or previous Discover savings customer.
It's great, but AFAIK it really is once-per-lifetime.
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evelynmanley
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Re: Marcus $100 bonus

Post by evelynmanley »

maywood wrote: Sat Jan 22, 2022 2:19 pm
evelynmanley wrote: Sat Jan 22, 2022 12:33 pm Just curious - would you consider the Marcus bonus more worthwhile than the Discover bonus? It's true that Discover offers only .40% interest as opposed to .5% for Marcus, but the bonus options are larger.

https://www.depositaccounts.com/banks/d ... nk/offers/


Deal Summary: $150 or $200 bonus when opening a new Online Savings account now through March 15, 2022.
The Discover bonus is very tempting, I think I will do that. And you get your bonus right away!
If you look on the website is says the online savings earn .5%, which is the same as Marcus.
There's no referral bonus is there?

maywood
Oh, wow - Discover increased that interest rate within the last couple of days!

I also looked at Lending Club Savings, which is at .60%, but the reviews about Lending Club are pretty awful - not the savings account reviews, but the loan reviews. I'm steering clear of them - not a good vibe. Also there was a big lawsuit not too long ago that doesn't look good for them.
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Alto Astral
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Re: Marcus $100 bonus

Post by Alto Astral »

"Our Marcus Savings Bonus is no longer available ..." (source: https://www.marcus.com/us/en/savings/osa-savingsbonus-1)
tj
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Re: Marcus $100 bonus

Post by tj »

Alto Astral wrote: Sat Jan 22, 2022 5:57 pm "Our Marcus Savings Bonus is no longer available ..." (source: https://www.marcus.com/us/en/savings/osa-savingsbonus-1)
Outdated link.

https://www.marcus.com/us/en/savings/os ... banner_ams
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

3000 wrote: Thu Jan 20, 2022 5:26 pm Thank you for posting this. I just opened an account to take advantage of the offer. I like the bonus tracker on the website too.
Does anyone still see a tracker? I opened mine in the first few days, an checked today and there is no tracker. I moved the 10K into my regular account. I also already had a term account at the time that matured and I had it closed a couple of days ago at maturity with the funds being moved into my regular account. I don't see this violating the terms.
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80125
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Re: Marcus $100 bonus

Post by 80125 »

...see a tracker?
Login > [click-on to] open your account > under Account Details see "Active offer 1 offer(s) applied" > open the Details link
--cbu
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

80125 wrote: Tue Feb 01, 2022 1:10 pm
...see a tracker?
Login > [click-on to] open your account > under Account Details see "Active offer 1 offer(s) applied" > open the Details link
Thanks, I see it now, I lost track of the location.
I got nervous because last year they did not post my offer due to a similar issue. I had to call them and request they give me the 100 or close the account. After a help ticket and 2 days the 100 did show up as a 'goodwill credit'. On the plus side, it did not show up on my 1099 as interest paid.
Nummerkins
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Re: Marcus $100 bonus

Post by Nummerkins »

Great timing. Just transferred money back from 2x Tastyworks and 2x M1 Finance bonuses. I never closed accounts from the previous Marcus bonus. Easy $200.
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theplayer11
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Re: Marcus $100 bonus

Post by theplayer11 »

Tastyworks.com brokerage is offering $500 on $10k parked for 3 months for those that don't bother with smaller bonuses.
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Re: Marcus $100 bonus

Post by LadyGeek »

FYI - Tastyworks.com and other brokerage bonuses are discussed here: The Final, Definitive Thread on Brokerage Transfer Bonuses
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rich126
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Re: Marcus $100 bonus

Post by rich126 »

This was timely. I just got some money put into my bank account which happens to be linked to Marcus. It isn't something I would jump through hoops for but since I already have an account with Marcus, this is pretty easy.
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Jimsad
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Re: Marcus $100 bonus

Post by Jimsad »

The 100$ offer is extended few more weeks
I opened an account today but I was told I have to wait full 90 days before I get the bonus . I thought it got deposited after 2 weeks . Did they just change this?
Also does Ally have any similar offers?
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Tubes
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Re: Marcus $100 bonus

Post by Tubes »

Jimsad wrote: Fri Feb 04, 2022 7:55 pm The 100$ offer is extended few more weeks
I opened an account today but I was told I have to wait full 90 days before I get the bonus . I thought it got deposited after 2 weeks . Did they just change this?
Also does Ally have any similar offers?
It took the full 90 days in 2021. I just checked my 2021 transactions. At exactly 90 days after my 10k deposit, I got a credit noted as "Bonus Applied".

I don't know of anything like this from Ally right now. As a matter of fact, my 10k transfer came from Ally.
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

Jimsad wrote: Fri Feb 04, 2022 7:55 pm The 100$ offer is extended few more weeks
I opened an account today but I was told I have to wait full 90 days before I get the bonus . I thought it got deposited after 2 weeks . Did they just change this?
Also does Ally have any similar offers?
I'm confused. Did you think they were going to pay you the bonus BEFORE you held the funds with them for the required period of time?
Wrench
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Re: Marcus $100 bonus

Post by Wrench »

Cheez-It Guy wrote: Sat Feb 05, 2022 6:33 am
Jimsad wrote: Fri Feb 04, 2022 7:55 pm The 100$ offer is extended few more weeks
I opened an account today but I was told I have to wait full 90 days before I get the bonus . I thought it got deposited after 2 weeks . Did they just change this?
Also does Ally have any similar offers?
I'm confused. Did you think they were going to pay you the bonus BEFORE you held the funds with them for the required period of time?
Every one of these offers is different. In Marcus, you have to hold for 90 days. It's always been that way. If you look at the account info it will tell you the offers(s) on your account and the exact date they end/you get the bonus.

In Discover savings, they credited my account immediately after I deposited the required amount. I assume I could withdraw it now, but I will hold it through one monthly statement cycle just to make sure - it's earning 0.5% so I can wait a month.

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Walkure
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Re: Marcus $100 bonus

Post by Walkure »

Wrench wrote: Sat Feb 05, 2022 6:55 am
Cheez-It Guy wrote: Sat Feb 05, 2022 6:33 am
Jimsad wrote: Fri Feb 04, 2022 7:55 pm The 100$ offer is extended few more weeks
I opened an account today but I was told I have to wait full 90 days before I get the bonus . I thought it got deposited after 2 weeks . Did they just change this?
Also does Ally have any similar offers?
I'm confused. Did you think they were going to pay you the bonus BEFORE you held the funds with them for the required period of time?
Every one of these offers is different. In Marcus, you have to hold for 90 days. It's always been that way. If you look at the account info it will tell you the offers(s) on your account and the exact date they end/you get the bonus.

In Discover savings, they credited my account immediately after I deposited the required amount. I assume I could withdraw it now, but I will hold it through one monthly statement cycle just to make sure - it's earning 0.5% so I can wait a month.

Wrench
Typically the wording is something along the lines of “we have up to two weeks to deposit the bonus in your account after you meet the 90 days.” Careful with the ones that deposit right away - they often have a clawback provision if the balance isn’t maintained for some period of time- I’ve seen up to 6 months on some offers.
elfoolio999
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Re: Marcus $100 bonus

Post by elfoolio999 »

I spoke with a Marcus rep yesterday and they didn't have a position on or issue with transferring money out of the account before enrolling in the bonus program. I'm trying to understand why Marcus does this if the net deposit may not increase. The only thing i can come up with is they basically turn the enrolled account into a three month CD. This way the block of enrolled funds company wide can be borrowed against or whatever it is they do with the deposits. Just trying to understand how this benefits the company so i can work through the ethical aspect of transferring money out and then back in.
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Tubes
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Re: Marcus $100 bonus

Post by Tubes »

elfoolio999 wrote: Sat Feb 05, 2022 7:33 am I spoke with a Marcus rep yesterday and they didn't have a position on or issue with transferring money out of the account before enrolling in the bonus program. I'm trying to understand why Marcus does this if the net deposit may not increase. The only thing i can come up with is they basically turn the enrolled account into a three month CD. This way the block of enrolled funds company wide can be borrowed against or whatever it is they do with the deposits. Just trying to understand how this benefits the company so i can work through the ethical aspect of transferring money out and then back in.
I think they are just keeping the rules simple.

Most people don't jump through hoops to get savings bonuses or farm credit card sign up bonuses. Some do. As long as they follow the rules, power to them.

I personally don't jump through hoops. That's just me. I'm probably in the majority. And ultimately, for me, momentum keeps my money at Marcus, and that's what they want. You are welcome. :D
elfoolio999
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Re: Marcus $100 bonus

Post by elfoolio999 »

Thanks. You're probably right. And BH are a special breed and a small group. And guess they don't care b/c users are engaging with the site (site is actually pretty nice and functions well to boot). And it gets folks talking about them. Guess the bonus is pretty close to a free lunch. Thanks again and take care.
nydoc
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Re: Marcus $100 bonus

Post by nydoc »

Today my 90 days hold for tastyworks bonus ends. I emptied our my Marcus account and will enroll now and transfer tasty works money here. Not much benefit but I like to do these.
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femur
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Re: Marcus $100 bonus

Post by femur »

I got my $100 bonus this morning! Quicker than I thought it would be
student
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Re: Marcus $100 bonus

Post by student »

I also got my $100 bonus today.
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
student
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Re: Marcus $100 bonus

Post by student »

runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
OMG. I just transferred money out of it to Barclays yesterday because Barclays pays 0.55%.
graspau
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Re: Marcus $100 bonus

Post by graspau »

student wrote: Fri Apr 22, 2022 10:01 am
runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
OMG. I just transferred money out of it to Barclays yesterday because Barclays pays 0.55%.
CapitalOne online Savingș just went to 0.60 also, last I checked they were at 0.40. Citi looks to be at 0.60 too. Discover savings is still sitting at 0.50 as of now.
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jpsfranks
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Re: Marcus $100 bonus

Post by jpsfranks »

runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
They also have a 13-month No-Penalty CD at 0.75%.
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

jpsfranks wrote: Fri Apr 22, 2022 10:45 am
runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
They also have a 13-month No-Penalty CD at 0.75%.
6 month T bill at the last auction - yield was 1.25% and state tax free.
tibbitts
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Re: Marcus $100 bonus

Post by tibbitts »

student wrote: Fri Apr 22, 2022 10:01 am
runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
OMG. I just transferred money out of it to Barclays yesterday because Barclays pays 0.55%.
Not sure that rates "OMG."
student
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Re: Marcus $100 bonus

Post by student »

tibbitts wrote: Fri Apr 22, 2022 12:13 pm
student wrote: Fri Apr 22, 2022 10:01 am
runner26 wrote: Fri Apr 22, 2022 9:47 am Now that the bonus has started paying out Marcus finally raised the savings rate today from .50 to .60. I will continue with withdrawals in favor of Treasuries for the time being.
OMG. I just transferred money out of it to Barclays yesterday because Barclays pays 0.55%.
Not sure that rates "OMG."
lol.
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LadyGeek
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Re: Marcus $100 bonus

Post by LadyGeek »

A discussion on the Marcus High-Yield Savings Account rate has been moved to a new thread. See: Marcus High-Yield Savings Account rate now 0.6%

(Thanks to the member who reported the post and explained what's wrong.)
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

Met 90-day holding period at end of day 5/9. Bonus applied morning of 5/11 despite allowing until 5/23 in the terms / estimate. Easy. Thanks!
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

It is back again this year. Appears on my logon account.
Offer valid from 1/18/23 to 2/15/23 (“the Offer Period”).
After enrolling, you must deposit $10,000 or more in new funds from an external account into your Account within 10 calendar days of enrollment (the “Funding Period”). The Account balance plus a minimum of $10,000 in new funds (the “Required Dollar Amount”) must be maintained in your Account for 90 consecutive days from the end of the Funding Period.

Not sure it is worth it this year as the savings account is paying 3.30% and is unlikely to change during the 90 days. I have been regularly drawing down my account in favor of T-Bills.
TravelGeek
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Re: Marcus $100 bonus

Post by TravelGeek »

I got the $100 offer as well.
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