Marcus $100 bonus

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SrGrumpy
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Re: Marcus $100 bonus

Post by SrGrumpy »

Bank account bonuses have been a bit slim so far this year (per comments on Doctor of Credit). The Marcus and a Bank of the West deal for $250 have been my only projects to date.
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sperry8
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Re: Marcus $100 bonus

Post by sperry8 »

SrGrumpy wrote: Wed Apr 28, 2021 9:47 am Bank account bonuses have been a bit slim so far this year (per comments on Doctor of Credit). The Marcus and a Bank of the West deal for $250 have been my only projects to date.
Citi has a bonus offer now too. Pretty decent one if you're willing to hold amounts over FDIC (or can qualify for higher FDIC limits).
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

Just completed offers and had bonuses deposited to three separate family accounts. Pretty easy.

Thanks!
rich126
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Re: Marcus $100 bonus

Post by rich126 »

Cheez-It Guy wrote: Wed May 19, 2021 11:27 am Just completed offers and had bonuses deposited to three separate family accounts. Pretty easy.

Thanks!
Marcus is easily the best company I've used when it comes to bonuses. They clearly show you your progress to your bonus. Other companies make it tough to ID when the actual date of bonus completion is, and when they will give you the money. I recently got $500 from Schwab but I had no clue as to the actual completion date. I only realized I got the bonus when I looked in the transaction history.
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Lastrun
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Re: Marcus $100 bonus

Post by Lastrun »

rich126 wrote: Wed May 19, 2021 12:19 pm Marcus is easily the best company I've used when it comes to bonuses. They clearly show you your progress to your bonus. Other companies make it tough to ID when the actual date of bonus completion is, and when they will give you the money.
This is a very true statement.

Generally pleased with Ally over the years and tried Marcus with the recent bonus. Not real impressed with the platform, but hands-down Marcus did an outstanding job to tell me: (1) that I was eligible for the bonus, (2) when it would be paid, and (3) when it was paid.

Last bonus I had from Ally I had to fight for as they claimed I was not registered and had luckily saved the email or screenshot from when I did register.
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anon_investor
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Re: Marcus $100 bonus

Post by anon_investor »

Lastrun wrote: Wed May 19, 2021 12:27 pm
rich126 wrote: Wed May 19, 2021 12:19 pm Marcus is easily the best company I've used when it comes to bonuses. They clearly show you your progress to your bonus. Other companies make it tough to ID when the actual date of bonus completion is, and when they will give you the money.
This is a very true statement.

Generally pleased with Ally over the years and tried Marcus with the recent bonus. Not real impressed with the platform, but hands-down Marcus did an outstanding job to tell me: (1) that I was eligible for the bonus, (2) when it would be paid, and (3) when it was paid.

Last bonus I had from Ally I had to fight for as they claimed I was not registered and had luckily saved the email or screenshot from when I did register.
For the last Ally Bonus, I didn't even know I qualified (I did register), but then out of the blue I got an email saying I was getting a bonus and it showed up shortly after.
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

My bonus date came and went with no $100 bonus posted. I looked at the date I deposited my 10,000 and 2 weeks had past since my 90 day waiting period. I looked at my history and shortly after the 10K, I added an additional 24.6K. A few weeks before the 90 days, I got an email from Marcus saying a 1 yr CD was maturing and I could set it up to renew as a 9 month special cd. I kept trying for days and it kept not allowing to do this. I figured, what the heck, I will just open a new one and in 6 days have the old one dump back into my savings. In the past Marcus just required the total Marcus deposits to be the same. But aparantly they wanted the savings account alone to not drop. The 6 days my savings dropped 400 dollars below the original amount nullified my award. I called them explained what happened, a ticket was escalated and another week later they deposited the 100. :D
inepteft
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Marcus $100 Bonus (2022 edition)

Post by inepteft »

[Merged into the existing thread on brokerage transfer bonuses by Moderator Misenplace]
[Merged into the Marcus bonus thread --admin LadyGeek]


Here's the offer, which looks similar to the past couple of years:

Special Offer: $100 Cash Bonus

Get $100 when you deposit $10,000 or more in new funds into a new or existing Online Savings Account.
Must deposit within 10 calendar days of enrollment, and maintain at least $10,000 of those new funds, plus your existing balance as of 12 am ET on the day you enrolled, in your account for 90 consecutive days. Enroll by 2/16/22.

https://www.marcus.com/us/en/savings/os ... banner_ams
H-Town
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Re: Marcus $100 Bonus (2022 edition)

Post by H-Town »

seems like easy $100 for 30 seconds of work to sign up for this bonus
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fetch5482
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Re: Marcus $100 Bonus (2022 edition)

Post by fetch5482 »

Easy peasy. Thanks op. Marcus is one of the few banks that also have a tracker on their website to track where you are with the bonus. I really appreciate that feature.

T&C pasted below. 90 days holding required.
Offer valid from 1/19/22 to 2/16/22 (“the Offer Period”).

To qualify for the $100 Cash Bonus (the “Offer”), you must enroll a Marcus Online Savings Account in this offer at https://www.marcus.com/us/en/savings/osa-savingsbonus or by calling Marcus at 1-855-730-SAVE (1-855-730-7283) by 11:59 pm ET on 2/16/22. Upon successful enrollment you will receive a confirmation of your enrollment via email or U.S. mail.

After enrolling, you must deposit $10,000 or more in new funds from an external account into your Marcus Online Savings 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 Marcus Online Savings Account for 90 consecutive days from the date of reaching the Required Dollar Amount. The account balance is based on the starting current balance reflected on your account at 12 am ET the day you enroll. Once the Funding Period has ended, your Marcus Online Savings Account balance may not drop below the Required Dollar Amount at any point until after the 90 consecutive days have passed. You may make multiple deposits within the Funding Period to reach the Required Dollar Amount. Internal transfers do not count for the purposes of this Offer.

If you choose to enroll a different Marcus Online Savings Account, you must deposit $10,000 or more in new funds from an external account into the newly enrolled account within 10 calendar days of enrollment, even if you have reached the Required Dollar Amount in a previously enrolled account.

The $100 bonus will be deposited into your Marcus Online Savings Account within 14 calendar days after fulfilling the above requirements. To receive your bonus, your account must be open and in good standing at the time the bonus is deposited in your account. The bonus will be treated as interest for tax reporting purposes.

Offer available to new and existing customers. Each customer is limited to one cash bonus offer. This Offer can only be applied once to an account. If an account has multiple owners, the account is limited to being enrolled for this Offer under one account owner and receiving one cash bonus. Remaining account owners may be eligible to use another eligible account to enroll in this offer. This Offer may be combined with other promotional offers available to Marcus Online Savings Account customers.

We reserve the right to modify or revoke this Offer at any time without notice. If we determine that you have engaged in or plan to engage in abuse or gaming in connection with this Offer, you will not be eligible for this Offer.
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Kookaburra
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Re: Marcus $100 Bonus (2022 edition)

Post by Kookaburra »

Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
TdF fan
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Re: Marcus $100 Bonus (2022 edition)

Post by TdF fan »

Thanks OP for posting this info. An easy $100 plus one of the better on-line rates is a nice bonus.
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Re: Marcus $100 Bonus (2022 edition)

Post by tj »

Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
This is why I always keep only a token amount at Marcus. These offers come out like clockwork every year.
an_asker
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Re: Marcus $100 Bonus (2022 edition)

Post by an_asker »

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?
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Re: Marcus $100 Bonus (2022 edition)

Post by Escapevelocity »

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'm getting 3.5% on $100k deposit FDIC at HM Bradley. This is going down to 3.0% on Feb 1 and requires using their credit card at least $100 per month and direct deposit of at least $2500/month. I am also considering T-Mobile money FDIC account giving 1.0% unlimited balance and doesn't require using them for cell phone.
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fetch5482
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Re: Marcus $100 Bonus (2022 edition)

Post by fetch5482 »

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 split 50-50 for my emergency cash between Ally and Marcus so I can take advantage of these offers at either of the banks when they show up. Marcus consistently has the $100 over each year. Ally occasionally has offers but they're larger in amount (the last one was $1,000 couple years ago).
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aristotelian
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Re: Marcus $100 Bonus (2022 edition)

Post by aristotelian »

I grabbed this bonus last year. Been very happy with the platform so far. Bummer I just deposited cash from a recently closed account, so I just missed an opportunity for a free $100.
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heartwood
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Re: Marcus $100 bonus

Post by heartwood »

OLD THREAD ... NEW OFFER

I signed into my Marcus account just now to get my tax forms and see there's a new offer (01/19/22) for a $100 bonus if you deposit $10,000 of new money into an existing or new account, register by 02/16, keep the balance at or above the $10k plus the balance on the day you enroll for the offer for at least 90 days.

Here's a link from DR of Credit https://www.doctorofcredit.com/marcus-1 ... 0-deposit/
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fetch5482
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Re: Marcus $100 Bonus (2022 edition)

Post by fetch5482 »

aristotelian wrote: Wed Jan 19, 2022 12:20 pm I grabbed this bonus last year. Been very happy with the platform so far. Bummer I just deposited cash from a recently closed account, so I just missed an opportunity for a free $100.
My only gripe is it cannot have more external linked accounts. I think it caps it to 4..so I can't make it my "hub" account like Ally is today.
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H-Town
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Re: Marcus $100 Bonus (2022 edition)

Post by H-Town »

gas_balloon wrote: Wed Jan 19, 2022 1:04 pm
aristotelian wrote: Wed Jan 19, 2022 12:20 pm I grabbed this bonus last year. Been very happy with the platform so far. Bummer I just deposited cash from a recently closed account, so I just missed an opportunity for a free $100.
My only gripe is it cannot have more external linked accounts. I think it caps it to 4..so I can't make it my "hub" account like Ally is today.
if you keep cash reserve in your Marcus, for security purposes, it's not a good idea to use it as a hub. Use a checking account as a hub and keep minimal cash in your "hub" account.
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SmileyFace
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Re: Marcus $100 Bonus (2022 edition)

Post by SmileyFace »

aristotelian wrote: Wed Jan 19, 2022 12:20 pm I grabbed this bonus last year. Been very happy with the platform so far. Bummer I just deposited cash from a recently closed account, so I just missed an opportunity for a free $100.
Last 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.
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Re: Marcus $100 Bonus (2022 edition)

Post by Steve K »

Signed up earlier, did it last year as well.
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intendi
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Re: Marcus $100 Bonus (2022 edition)

Post by intendi »

Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
I had the same question. I called Marcus and the rep said as long as the new/separate account stays at 10,000 it would qualify for the bonus even if there were withdrawals from the first/existing account during that 90 holding day period.
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fetch5482
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Re: Marcus $100 Bonus (2022 edition)

Post by fetch5482 »

Does anyone know - for joint account can both account holders sign-up and deposit 10K each to the same account from their respective logins and still get $100 bonus for each ($200 total)?
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Re: Marcus $100 Bonus (2022 edition)

Post by cowdogman »

gas_balloon wrote: Wed Jan 19, 2022 2:11 pm Does anyone know - for joint account can both account holders sign-up and deposit 10K each to the same account from their respective logins and still get $100 bonus for each ($200 total)?
No, that is clear from the rules. But one owner, under his/her login, can register the joint account for the offer. And the other owner, under his/her login, can set up a new account, also joint if desired, and register the new account for the offer.
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Re: Marcus $100 Bonus (2022 edition)

Post by cowdogman »

intendi wrote: Wed Jan 19, 2022 2:05 pm
Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
I had the same question. I called Marcus and the rep said as long as the new/separate account stays at 10,000 it would qualify for the bonus even if there were withdrawals from the first/existing account during that 90 holding day period.
Yes, that is pretty clear from the rules--but it seems like such a large loophole if the point of the promotion is to increase savings.

I have 3 accounts at Marcus, all joint. One is general savings and the other two are for specific savings. I plan to register the two accounts used for specific savings for the promotion under, respectively, my and my wife's logins. And then continue to use the general account for large expense items (like real property taxes).
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Re: Marcus $100 Bonus (2022 edition)

Post by euler »

intendi wrote: Wed Jan 19, 2022 2:05 pm
Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
I had the same question. I called Marcus and the rep said as long as the new/separate account stays at 10,000 it would qualify for the bonus even if there were withdrawals from the first/existing account during that 90 holding day period.
So do you need to open a *new* account if you already have one? I'm not clear on this. @SmileyFace seems to be saying he just dumped $10k into an existing savings account and left it for 90 days. But this sounds like you need to open a second (or third, or fourth...) savings account.

Edit: Answered my own question. When you click the "enroll" and "existing customer" buttons, it gives you the opportunity to enroll your already-existing savings account. So no need to create a new one if you already have one.
Gertrude
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Re: Marcus $100 Bonus (2022 edition)

Post by Gertrude »

Anyone getting a message indicating to call a number to complete the transfer into the Marcus savings account? I only have a few cents in my already established account and haven’t used it for over a year.
drk
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Re: Marcus $100 Bonus (2022 edition)

Post by drk »

Gertrude wrote: Wed Jan 19, 2022 5:12 pm Anyone getting a message indicating to call a number to complete the transfer into the Marcus savings account? I only have a few cents in my already established account and haven’t used it for over a year.
I had to do that last year when I tried to deposit money for this bonus. My account was technically open, but Marcus marked it inactive and wouldn't allow online transfers. I assume this is a fraud prevention measure.
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Kookaburra
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Re: Marcus $100 Bonus (2022 edition)

Post by Kookaburra »

intendi wrote: Wed Jan 19, 2022 2:05 pm
Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
I had the same question. I called Marcus and the rep said as long as the new/separate account stays at 10,000 it would qualify for the bonus even if there were withdrawals from the first/existing account during that 90 holding day period.
Thanks for sharing this!
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Re: Marcus $100 bonus

Post by LadyGeek »

I merged inepteft's thread into the ongoing discussion. (This thread was first merged into the brokerage transfer bonus thread, but should more correctly be merged into this thread.)

Thanks to the member who reported the post and provided a link to this thread.
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Johnny Thinwallet
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Re: Marcus $100 Bonus (2022 edition)

Post by Johnny Thinwallet »

SmileyFace wrote: Wed Jan 19, 2022 1:44 pm
aristotelian wrote: Wed Jan 19, 2022 12:20 pm I grabbed this bonus last year. Been very happy with the platform so far. Bummer I just deposited cash from a recently closed account, so I just missed an opportunity for a free $100.
Last 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.
Thanks for this idea! Might give this a try. The bulk of our liquid savings is in Marcus so I've never been able to take advantage of this as we do not have $10k sitting outside of Marcus. But if I can transfer out, wait a few days, enroll, then transfer back in that's easy to do.

I'll have to be strategic about the timing, though. I'll be pulling $20k out of Marcus next week to purchase our 2022 I Bonds so I need to wait until after that settles. Looks like this bonus is valid through 2/16, though, so I've got extra time.
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Re: Marcus $100 Bonus (2022 edition)

Post by Gertrude »

drk wrote: Wed Jan 19, 2022 5:19 pm
Gertrude wrote: Wed Jan 19, 2022 5:12 pm Anyone getting a message indicating to call a number to complete the transfer into the Marcus savings account? I only have a few cents in my already established account and haven’t used it for over a year.
I had to do that last year when I tried to deposit money for this bonus. My account was technically open, but Marcus marked it inactive and wouldn't allow online transfers. I assume this is a fraud prevention measure.
That’s for replying. Instead of calling, I was able to use the chat functionality. My issue was that I had less than $1 in the account for more than 60 days. This caused them to put a hold on the account.
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Re: Marcus $100 Bonus (2022 edition)

Post by MikeG62 »

intendi wrote: Wed Jan 19, 2022 2:05 pm
Kookaburra wrote: Wed Jan 19, 2022 11:04 am Trying to interpret how I might capture this bonus. I have an existing Marcus account but plan to spend it down significantly and thus wouldn’t meet the “maintain account balance through 90 days”. However, if I open a new account, transfer 10k in, and hold for 90 days, would this qualify for the bonus? In other words, is the bonus based on maintaining the original balance plus 10K in the individual account to which the deposit is made, or is the balance aggregated across all Marcus accounts that one has?
I had the same question. I called Marcus and the rep said as long as the new/separate account stays at 10,000 it would qualify for the bonus even if there were withdrawals from the first/existing account during that 90 holding day period.
Will they allow you to find the new/separate account from the first/existing account and still pay the bonus?

Language in the offer does not seem to preclude this, but it seems counterintuitive if their goal in making this offer is for people to bring new money to Marcus (otherwise why would they make the offer in the first place).

I plan to fund the accounts (one for me and one for my DW) with funds coming from outside and then to leave those accounts untouched until the bonus posts. This is clearly small dollars, but at the moment I am leaning toward doing it.
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drk
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Re: Marcus $100 Bonus (2022 edition)

Post by drk »

Gertrude wrote: Thu Jan 20, 2022 7:31 am That’s for replying. Instead of calling, I was able to use the chat functionality. My issue was that I had less than $1 in the account for more than 60 days. This caused them to put a hold on the account.
Neat. I'm glad they explained the specific policy because I'm certain the same one applied to my account.
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Re: Marcus $100 bonus

Post by evelynmanley »

For those of you who have a Marcus savings account, do you always get 2-factor authentication when accessing your account from your laptop and/or phone? Despite every attempt with the Ally Bank tech reps, I cannot get 2FA, even with a new IP address or new device when logging in. That's one reason I'm looking for another bank for a savings account, and 2FA is very important to me.

Thanks!
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Re: Marcus $100 bonus

Post by MikeG62 »

evelynmanley wrote: Thu Jan 20, 2022 11:56 am For those of you who have a Marcus savings account, do you always get 2-factor authentication when accessing your account from your laptop and/or phone? Despite every attempt with the Ally Bank tech reps, I cannot get 2FA, even with a new IP address or new device when logging in. That's one reason I'm looking for another bank for a savings account, and 2FA is very important to me.

Thanks!
I do not use 2FA on my Ally or Marcus bank accounts, but this is due to the fact that I use an account aggregator (Fidelity Fullview) and that aggregator cannot update the balances if 2FA is set to on. I do use 2FA on my Fidelity account because it is not an issue there.

I am a big fan of alerts and use them liberally in all places where I have bank or brokerage accounts. I want to know every time anything happens within any of those accounts. I usually opt for a text.
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Tubes
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Re: Marcus $100 bonus

Post by Tubes »

The account landing web page is erroring out. I guess they are getting pounded.

The web reliability during load times is the one thing I don't like about Marcus.

As for 2FA, I get pinged for it much more than Ally. I just switched computers -- and actually wiped it clean with a new version of windows from format -- and Ally still didn't ask for a 2FA.
maywood
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Re: Marcus $100 bonus

Post by maywood »

Thanks for bringing this to our attention. They had the same offer January 2021, so it seems they may offer this every January. When I redeem some EE bonds later this year, I'll put at least some of the cash in another online bank so I can transfer it to Marcus next January.

I have two subaccounts in my Marcus (joint with my husband.) I was able to get the bonus in both of the accounts last year. I logged into the accounts as myself and enrolled in the bonus in one of the subaccounts, then my husband logged in as himself and enrolled the other subaccount for the bonus.

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tj
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Re: Marcus $100 Bonus (2022 edition)

Post by tj »

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.
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Re: Marcus $100 Bonus (2022 edition)

Post by tibbitts »

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.
.55% is exceptional (except for obvious promotional rates of course), but it would take a long time for .05% on $10,000 to earn $100. On the other hand, $100 might be only about $50-$60 after taxes.
tj
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Re: Marcus $100 Bonus (2022 edition)

Post by tj »

tibbitts wrote: Thu Jan 20, 2022 3:44 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.
.55% is exceptional (except for obvious promotional rates of course), but it would take a long time for .05% on $10,000 to earn $100. On the other hand, $100 might be only about $50-$60 after taxes.
The point was to not use Marcus as an ongoing account so that you can move your cash to Marcus when they have an add-on promo, it doesn't matter if Alliant is slightly higher or lower than whatever rate Marcus has. It's the same reason I only keep a token amount at Ally, too, because they have add on promo's also.
tibbitts
Posts: 23719
Joined: Tue Feb 27, 2007 5:50 pm

Re: Marcus $100 Bonus (2022 edition)

Post by tibbitts »

tj wrote: Thu Jan 20, 2022 3:56 pm
tibbitts wrote: Thu Jan 20, 2022 3:44 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.
.55% is exceptional (except for obvious promotional rates of course), but it would take a long time for .05% on $10,000 to earn $100. On the other hand, $100 might be only about $50-$60 after taxes.
The point was to not use Marcus as an ongoing account so that you can move your cash to Marcus when they have an add-on promo, it doesn't matter if Alliant is slightly higher or lower than whatever rate Marcus has. It's the same reason I only keep a token amount at Ally, too, because they have add on promo's also
I interpreted the reply from an_asker as questioning whether there was some other appeal to Marcus that was attracting attention, since the bonus is modest relative to some other bonuses from banks in the past.
an_asker
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Joined: Thu Jun 27, 2013 2:15 pm

Re: Marcus $100 Bonus (2022 edition)

Post by an_asker »

tibbitts wrote: Thu Jan 20, 2022 4:04 pm
tj wrote: Thu Jan 20, 2022 3:56 pm
tibbitts wrote: Thu Jan 20, 2022 3:44 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.
.55% is exceptional (except for obvious promotional rates of course), but it would take a long time for .05% on $10,000 to earn $100. On the other hand, $100 might be only about $50-$60 after taxes.
The point was to not use Marcus as an ongoing account so that you can move your cash to Marcus when they have an add-on promo, it doesn't matter if Alliant is slightly higher or lower than whatever rate Marcus has. It's the same reason I only keep a token amount at Ally, too, because they have add on promo's also
I interpreted the reply from an_asker as questioning whether there was some other appeal to Marcus that was attracting attention, since the bonus is modest relative to some other bonuses from banks in the past.
Sorry - I didn't realize there would be confusion. I think I got the right answer from tj. I didn't know that Alliant was still as high as 0.55.

I have bits and pieces in Discover Bank, SallieMae and Marcus. Currently Marcus is the highest, though when I had started, they were all almost the same a few years ago. But yes, I am too lazy to keep switching around because a) these accounts are not all directly linked with one another and the transfer takes a week with the intermediate account and b) the incremental difference is not much. Maybe I should be paying closer attention as it adds up.
anita bahth
Posts: 184
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Re: Marcus $100 Bonus (2022 edition)

Post by anita bahth »

an_asker wrote: Thu Jan 20, 2022 4:16 pm
tibbitts wrote: Thu Jan 20, 2022 4:04 pm
tj wrote: Thu Jan 20, 2022 3:56 pm
tibbitts wrote: Thu Jan 20, 2022 3:44 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.
.55% is exceptional (except for obvious promotional rates of course), but it would take a long time for .05% on $10,000 to earn $100. On the other hand, $100 might be only about $50-$60 after taxes.
The point was to not use Marcus as an ongoing account so that you can move your cash to Marcus when they have an add-on promo, it doesn't matter if Alliant is slightly higher or lower than whatever rate Marcus has. It's the same reason I only keep a token amount at Ally, too, because they have add on promo's also
I interpreted the reply from an_asker as questioning whether there was some other appeal to Marcus that was attracting attention, since the bonus is modest relative to some other bonuses from banks in the past.
Sorry - I didn't realize there would be confusion. I think I got the right answer from tj. I didn't know that Alliant was still as high as 0.55.

I have bits and pieces in Discover Bank, SallieMae and Marcus. Currently Marcus is the highest, though when I had started, they were all almost the same a few years ago. But yes, I am too lazy to keep switching around because a) these accounts are not all directly linked with one another and the transfer takes a week with the intermediate account and b) the incremental difference is not much. Maybe I should be paying closer attention as it adds up.
you can double the rate by giving/getting a referral https://www.marcus.com/us/en/savings/re ... ffer-terms

(ie .5% bonus for 3 months, I think you can extend up to 5 times)
H-Town
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Re: Marcus $100 Bonus (2022 edition)

Post by H-Town »

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%.
Time is the ultimate currency.
User avatar
vectorizer
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Re: Marcus $100 Bonus (2022 edition)

Post by vectorizer »

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).
tj
Posts: 9368
Joined: Wed Dec 23, 2009 11:10 pm

Re: Marcus $100 Bonus (2022 edition)

Post by tj »

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.
tj
Posts: 9368
Joined: Wed Dec 23, 2009 11:10 pm

Re: Marcus $100 Bonus (2022 edition)

Post by tj »

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.
an_asker
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Re: Marcus $100 Bonus (2022 edition)

Post by an_asker »

tj wrote: Thu Jan 20, 2022 5:07 pm [...]
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.
That's exactly the point - it is more relevant if I have $20k tied up there vs $10k. Now that I know of Alliant having a better rate, I can now move this money there after three months :-)
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