Marcus $100 bonus

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BogleFan510
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Re: Marcus $100 bonus

Post by BogleFan510 »

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Last edited by BogleFan510 on Fri Jul 09, 2021 6:48 pm, edited 1 time in total.
02nz
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Re: Marcus $100 bonus

Post by 02nz »

BogleFan510 wrote: Fri Jan 29, 2021 10:38 am
02nz wrote: Wed Jan 27, 2021 4:56 pm
denovo wrote: Wed Jan 27, 2021 4:52 pm
BogleFan510 wrote: Fri Jan 15, 2021 11:08 am Bummer. I just closed my Marcus acct due to lower rate than T Mobile. They actually fedexed me a 0.02 check.
Didnt know tmobile did banking, nuts
Well, they don't really "do" banking, any more than United does credit cards with the United Explorer credit card issued by Chase. The "T-Mobile Money" product is offered by BankMobile, a division of Customers Bank. Such co-brand relationships are common.
By the way, the 3000$ daily move limit on T Mobile is proving to be a pain, so keep that in mind if larger amounts of cash. Their FAQ says this is changable without notice to as little as 300. Yikes. I suppose if you closed the account they woukd be forced to pay up, but a 300 transfer limit is theoretically possible. Moving 10k back to marcus (need to schedule 3+ transfers on serial days).
You can probably set up Marcus to pull from T-Mobile and bypass the limit that way. I have an account that can only push $5K/day but pulling more than that from Marcus (or any other bank) is no problem.
hudson
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Re: Marcus $100 bonus

Post by hudson »

TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?
maywood
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Re: Marcus $100 bonus

Post by maywood »

I just spent 2 hours doing a trifecta (similar to TravelGeek). Thanks to this thread, because I was not even aware of the AARP bonus.
I was already an AARP member and my husband and I already had 2 accounts at Marcus, and an account at Purepoint (which is only earning .4%)
My adult son also has an account at Purepoint, which I was thinking he should switch to Marcus, but never got around to it.
We all use Chase for checking so the Marcus accounts are linked to our Chase accounts.

So today I:
applied for the AARP bonus
referred my son and helped him open a new Marcus account, we both get the referral bonus.
enrolled myself in the $100 bonus in one of our joint accounts
my husband enrolled himself in the $100 bonus in the second of our joint accounts
(once my son's account is up and running and funded with $1,000, he will enroll himself in the $100 bonus.)
Transferred the necessary money from our Purepoint accounts into the respective Chase checking accounts.
Once the money shows up in the Chase checking, will transfer it to the respective Marcus accounts.

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indexfundfan
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Re: Marcus $100 bonus

Post by indexfundfan »

hudson wrote: Fri Jan 29, 2021 3:16 pm
TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?

I have used Marcus to push out money. For same day ACH processing, you need to submit before 12pm ET. Still, my experience is that the same day ACH transfer is inconsistent. Sometimes you get it same day, sometimes it is next day. I could not figure out the pattern.
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hudson
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Re: Marcus $100 bonus

Post by hudson »

indexfundfan wrote: Fri Jan 29, 2021 5:55 pm
hudson wrote: Fri Jan 29, 2021 3:16 pm
TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?

I have used Marcus to push out money. For same day ACH processing, you need to submit before 12pm ET. Still, my experience is that the same day ACH transfer is inconsistent. Sometimes you get it same day, sometimes it is next day. I could not figure out the pattern.
Thanks indexfundfan!
Amex is four for four on same day transfers for me.
So Marcus has service, but the service is not 100%.
TravelGeek
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Re: Marcus $100 bonus

Post by TravelGeek »

hudson wrote: Fri Jan 29, 2021 3:16 pm
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?
Is that 10:30 ET?

I should perhaps do some ACH races between different banks and credit union accounts to see how fast they are. I generally tend to not need money to be moved to my hub (Ally) very quickly, but it might be good to know.
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Re: Marcus $100 bonus

Post by hudson »

TravelGeek wrote: Fri Jan 29, 2021 11:34 pm
hudson wrote: Fri Jan 29, 2021 3:16 pm
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?
Is that 10:30 ET?

I should perhaps do some ACH races between different banks and credit union accounts to see how fast they are. I generally tend to not need money to be moved to my hub (Ally) very quickly, but it might be good to know.
I just checked; it's 11:30 ET.

From Amex Bank Website. A regular search didn't find the below quote on their "express transfer." I didn't find it until I started a transfer, then the rules showed up.
If your transfer is submitted between midnight and 11:30 AM Eastern time on a business day*, then it will appear at the external bank by 5:00 PM local time on the same day.
If you transfer money INTO Amex Personal Savings. There's a 5 day hold until you can transfer it out.
Funds transferred into your Personal Savings account will be available for withdrawal on the 5th business day* after the deposit is initiated.
MikeG62
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Re: Marcus $100 bonus

Post by MikeG62 »

indexfundfan wrote: Fri Jan 29, 2021 5:55 pm
hudson wrote: Fri Jan 29, 2021 3:16 pm
TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?

I have used Marcus to push out money. For same day ACH processing, you need to submit before 12pm ET. Still, my experience is that the same day ACH transfer is inconsistent. Sometimes you get it same day, sometimes it is next day. I could not figure out the pattern.
I ACH funds from my Marcus account several times each month and I've always gotten same day transfer on ACH's initiated in the morning (typically by 9am EST). Sadly, never once same day at Ally. I wonder why Ally is unable or unwilling to do it?
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z3r0c00l
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Re: Marcus $100 bonus

Post by z3r0c00l »

Compare to $200 for buying $500 worth of food in 90 days on a new credit card...
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indexfundfan
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Re: Marcus $100 bonus

Post by indexfundfan »

MikeG62 wrote: Sat Jan 30, 2021 9:13 am
indexfundfan wrote: Fri Jan 29, 2021 5:55 pm
hudson wrote: Fri Jan 29, 2021 3:16 pm
TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?

I have used Marcus to push out money. For same day ACH processing, you need to submit before 12pm ET. Still, my experience is that the same day ACH transfer is inconsistent. Sometimes you get it same day, sometimes it is next day. I could not figure out the pattern.
I ACH funds from my Marcus account several times each month and I've always gotten same day transfer on ACH's initiated in the morning (typically by 9am EST). Sadly, never once same day at Ally. I wonder why Ally is unable or unwilling to do it?
The best you can do with Ally is next day. That is after you have made a prior transfer of at least $250 in the same direction AND wait for 60 days for it to go active.

I couldn't figure out why I sometimes don't get same day ACH. I recorded my most experience about two weeks ago

1/13/21 Wed 9am ET : Push to Merchants Bank. Posted 4.45pm same day at Merchants.
1/14/21 Thu 9am ET : Push to Merchants Bank. Not posted on 1/14. Posted 1/15 morning.

I don't think 9am ET is the cutoff time, because I had submitted another transfer in August at 11am and it posted the same day.
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MikeG62
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Re: Marcus $100 bonus

Post by MikeG62 »

indexfundfan wrote: Sat Jan 30, 2021 9:32 am
MikeG62 wrote: Sat Jan 30, 2021 9:13 am
indexfundfan wrote: Fri Jan 29, 2021 5:55 pm
hudson wrote: Fri Jan 29, 2021 3:16 pm
TravelGeek wrote: Fri Jan 15, 2021 12:53 pm Thanks. Moving funds from my Amex Savings account now that my 25k MR bonus from last year’s promo finally posted today.
I also use Amex savings. I'm somewhat interested in moving, but I like Amex Bank's same day fund transfer. I think if you make the "one extra click" request before 10:30 AM, the money will be in your bank by 4 PM.
I wonder if Marcus does that?

I have used Marcus to push out money. For same day ACH processing, you need to submit before 12pm ET. Still, my experience is that the same day ACH transfer is inconsistent. Sometimes you get it same day, sometimes it is next day. I could not figure out the pattern.
I ACH funds from my Marcus account several times each month and I've always gotten same day transfer on ACH's initiated in the morning (typically by 9am EST). Sadly, never once same day at Ally. I wonder why Ally is unable or unwilling to do it?
The best you can do with Ally is next day. That is after you have made a prior transfer of at least $250 in the same direction AND wait for 60 days for it to go active.

I couldn't figure out why I sometimes don't get same day ACH. I recorded my most experience about two weeks ago

1/13/21 Wed 9am ET : Push to Merchants Bank. Posted 4.45pm same day at Merchants.
1/14/21 Thu 9am ET : Push to Merchants Bank. Not posted on 1/14. Posted 1/15 morning.

I don't think 9am ET is the cutoff time, because I had submitted another transfer in August at 11am and it posted the same day.
Interesting...

I initiate two transfers each month to fund the monthly addition to two add-on CD's I opened at a PA credit union in Nov of 2019 and, despite my consistent same day experience with those transfers, I always initiate that transfer one day before the funds need to be there "just in case". Although it's always arrived the same day, it's not worth the risk of missing the contribution for that month for one extra day of interest at Marcus.
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02nz
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Re: Marcus $100 bonus

Post by 02nz »

z3r0c00l wrote: Sat Jan 30, 2021 9:17 am Compare to $200 for buying $500 worth of food in 90 days on a new credit card...
Why? You can do both.
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indexfundfan
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Re: Marcus $100 bonus

Post by indexfundfan »

MikeG62 wrote: Sat Jan 30, 2021 10:09 am Interesting...

I initiate two transfers each month to fund the monthly addition to two add-on CD's I opened at a PA credit union in Nov of 2019 and, despite my consistent same day experience with those transfers, I always initiate that transfer one day before the funds need to be there "just in case". Although it's always arrived the same day, it's not worth the risk of missing the contribution for that month for one extra day of interest at Marcus.
Wow, your add-ons to the CD at PSECU are still ongoing. Amazing. :-)
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TravelGeek
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Re: Marcus $100 bonus

Post by TravelGeek »

02nz wrote: Sat Jan 30, 2021 10:12 am
z3r0c00l wrote: Sat Jan 30, 2021 9:17 am Compare to $200 for buying $500 worth of food in 90 days on a new credit card...
Why? You can do both.
Right, one requires the ability to apply for a new credit card (i.e., be eligible for a decent offer and willing to use a potentially limited “slot” at a given bank) and the other requires $10k in idle cash.
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Re: Marcus $100 bonus

Post by MikeG62 »

indexfundfan wrote: Sat Jan 30, 2021 10:21 am
MikeG62 wrote: Sat Jan 30, 2021 10:09 am Interesting...

I initiate two transfers each month to fund the monthly addition to two add-on CD's I opened at a PA credit union in Nov of 2019 and, despite my consistent same day experience with those transfers, I always initiate that transfer one day before the funds need to be there "just in case". Although it's always arrived the same day, it's not worth the risk of missing the contribution for that month for one extra day of interest at Marcus.
Wow, your add-ons to the CD at PSECU are still ongoing. Amazing. :-)
Yup, I have not missed adding to both in a single month since opening them. By the mid summer though I will hit the ceiling on the NCUA insurance for the joint account where those two active CD's sit (a POD account with two beneficiaries). Will have to decide if I continue adding for the remaining few months on the 24 month CD which matures in Nov of 2021 or not.
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WolfgangPauli
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Re: Marcus $100 bonus

Post by WolfgangPauli »

Tell me if I am right to think of it this way:

$10,000 to an account paying .5% interest
Keep it there for 3 months.
Will receive .5% for three months plus $100 (1%).

Is this essentially a 1.5% 3 Month CD?
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indexfundfan
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Re: Marcus $100 bonus

Post by indexfundfan »

WolfgangPauli wrote: Sat Jan 30, 2021 10:34 am Tell me if I am right to think of it this way:

$10,000 to an account paying .5% interest
Keep it there for 3 months.
Will receive .5% for three months plus $100 (1%).

Is this essentially a 1.5% 3 Month CD?
No, it is more than that.

You start with $10,000. After three months you get around $10,000 + $12.50 + $100 = $10,112.50.
Your gain is $112.50. Annualized, this is about 4.5%, i.e. you would need a 4.5% 3-mo CD to match it.
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runner26
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Re: Marcus $100 bonus

Post by runner26 »

I got the offer AFTER I had made 2 10K deposits in the 2 prior weeks. :|
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Re: Marcus $100 bonus

Post by the way »

indexfundfan wrote: Sat Jan 30, 2021 10:46 am
WolfgangPauli wrote: Sat Jan 30, 2021 10:34 am Tell me if I am right to think of it this way:

$10,000 to an account paying .5% interest
Keep it there for 3 months.
Will receive .5% for three months plus $100 (1%).

Is this essentially a 1.5% 3 Month CD?
No, it is more than that.

You start with $10,000. After three months you get around $10,000 + $12.50 + $100 = $10,112.50.
Your gain is $112.50. Annualized, this is about 4.5%, i.e. you would need a 4.5% 3-mo CD to match it.
But if you already had eg 10k there, it's locking 20k for 3 months. That lowers the rate for comparison to a 3mth cd. But I just think of it as a free $100 and not the rate anyway.

However, if you also have some other cds there maturing soon that you might want to move out, it's not clear if those amounts are 'locked' too. I'm assuming it's ok since there hasn't been a storm of complaints about it.
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

H-Town wrote: Thu Jan 28, 2021 8:00 am
Cheez-It Guy wrote: Thu Jan 28, 2021 5:40 am
H-Town wrote: Wed Jan 27, 2021 4:43 pm Yeah, they gonna have to tell me no.

I just moved out 10k on day 1. Day 2: register and move it back. Marcus showed that I successfully completed 2 steps. Step 3 is just maintain it for 90 days. Easy $68.
Let me know how it turns out. I'm interested. Sounds promising so far. Also, why only $68? Are you adjusting for expected tax on interest?
I did the same routine last year and got the bonus from Marcus. Yeah, I use after tax bonus.
I might as well give it a try this way if I don't have a better plan. As far as the Day 1 transfer OUT of Marcus, did you do it for exactly $10,000 or something different? Was it a single transfer or multiple? I'm sure if they're going to sing this for gaming, the algorithms would likely pick up on subtle variations. I'm trying to decide whether chaining together multiple transfers and / or multiple banks would arouse more or less suspicion.
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Re: Marcus $100 bonus

Post by H-Town »

Cheez-It Guy wrote: Wed Feb 03, 2021 10:55 am
H-Town wrote: Thu Jan 28, 2021 8:00 am
Cheez-It Guy wrote: Thu Jan 28, 2021 5:40 am
H-Town wrote: Wed Jan 27, 2021 4:43 pm Yeah, they gonna have to tell me no.

I just moved out 10k on day 1. Day 2: register and move it back. Marcus showed that I successfully completed 2 steps. Step 3 is just maintain it for 90 days. Easy $68.
Let me know how it turns out. I'm interested. Sounds promising so far. Also, why only $68? Are you adjusting for expected tax on interest?
I did the same routine last year and got the bonus from Marcus. Yeah, I use after tax bonus.
I might as well give it a try this way if I don't have a better plan. As far as the Day 1 transfer OUT of Marcus, did you do it for exactly $10,000 or something different? Was it a single transfer or multiple? I'm sure if they're going to sing this for gaming, the algorithms would likely pick up on subtle variations. I'm trying to decide whether chaining together multiple transfers and / or multiple banks would arouse more or less suspicion.
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
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Cheez-It Guy
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Re: Marcus $100 bonus

Post by Cheez-It Guy »

Thank you for relaying your experience. This will be my first year, but I wasn't sure if redeeming to a bank and then sending it right back from the same bank would be disqualifying according to their analysis.
Last edited by Cheez-It Guy on Wed Feb 03, 2021 6:29 pm, edited 1 time in total.
an_asker
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Re: Marcus $100 bonus

Post by an_asker »

centrifuge41 wrote: Fri Jan 15, 2021 12:25 pm If you get an AARP membership ($16 a year), you can get a 0.1% interest boost for your Marcus savings account for 2 years. You also become eligible for specific AARP no-penalty CDs (currently 0.55% for 8 months).

Swagbucks offers a $3 rebate on AARP membership right now. Sometimes they rebate $12.
To get the 0.1% boost, do you need to be an AARP member when you open the Marcus account or can you sign up afterwards?

Thanks!
TravelGeek
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Re: Marcus $100 bonus

Post by TravelGeek »

an_asker wrote: Wed Feb 03, 2021 5:12 pm To get the 0.1% boost, do you need to be an AARP member when you open the Marcus account or can you sign up afterwards?

Thanks!
You can sign up for the AARP benefit after the Marcus account is open.
candb
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Re: Marcus $100 bonus

Post by candb »

an_asker wrote: Wed Feb 03, 2021 5:12 pm
centrifuge41 wrote: Fri Jan 15, 2021 12:25 pm If you get an AARP membership ($16 a year), you can get a 0.1% interest boost for your Marcus savings account for 2 years. You also become eligible for specific AARP no-penalty CDs (currently 0.55% for 8 months).

Swagbucks offers a $3 rebate on AARP membership right now. Sometimes they rebate $12.
To get the 0.1% boost, do you need to be an AARP member when you open the Marcus account or can you sign up afterwards?

Thanks!
You can sign up afterwards.
WolfgangPauli
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Re: Marcus $100 bonus

Post by WolfgangPauli »

candb wrote: Wed Feb 03, 2021 5:25 pm
an_asker wrote: Wed Feb 03, 2021 5:12 pm
centrifuge41 wrote: Fri Jan 15, 2021 12:25 pm If you get an AARP membership ($16 a year), you can get a 0.1% interest boost for your Marcus savings account for 2 years. You also become eligible for specific AARP no-penalty CDs (currently 0.55% for 8 months).

Swagbucks offers a $3 rebate on AARP membership right now. Sometimes they rebate $12.
To get the 0.1% boost, do you need to be an AARP member when you open the Marcus account or can you sign up afterwards?

Thanks!
You can sign up afterwards.
Just did it.. very simple.. you have to call or get them to call you through Chat.. They did it on the spot and lasts 24 months.. .1 over normal..
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Marseille07
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Re: Marcus $100 bonus

Post by Marseille07 »

Do folks still see the banner about this promotion? I entered and I remember seeing the banner about this but it disappeared.

EDIT: Just pinged their CSR, it turned out I deposited 10K but other debits made my account balance lower and my promotion expired at that time. I have other monies I can deposit later this month but the timing won't align. Oh well, so much for that.
Last edited by Marseille07 on Wed Feb 03, 2021 7:56 pm, edited 1 time in total.
Retired1809
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Re: Marcus $100 bonus

Post by Retired1809 »

Would I need to thaw my frozen credit to take advantage of this? (I am not a Marcus customer.)
SrGrumpy
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Re: Marcus $100 bonus

Post by SrGrumpy »

Marseille07 wrote: Wed Feb 03, 2021 7:41 pm

EDIT: Just pinged their CSR, it turned out I deposited 10K but other debits made my account balance lower and my promotion expired at that time. I have other monies I can deposit later this month but the timing won't align. Oh well, so much for that.
Ugh. I did that once, but didn't realize until the 90 days was up and was looking for my bonus. You have to be careful not to withdraw any money - or whatever the rule is. Well, there's always next year.

FWIW, folks can verify their participation by logging on, clicking on the savings account in question, and looking for "Active Offer" in the "Account Details" box.
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Re: Marcus $100 bonus

Post by MikeG62 »

H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
I am not so sure about that. After all, Marcus is trying to incentivize people to bring additional funds to Marcus. Moving money out for a few days and registering in between those days and bringing the same amount of money back doesn’t really accomplish that objective.

There is this from the fine print...

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.

FWIW, I moved $30k out of Marcus in late January. Am thinking if I sign up for the offer on Feb 12th and fund by Feb 21 “maybe” I’ll get it as I’ve at least put several weeks between the late January withdrawal and the Feb 21 funding. I also do have a pattern of moving funds in and out of Marcus every month. If I don’t get the bonus, then I don’t get the bonus. My plan is actually to bring back about $150k (proceeds from three maturing NP CD’s at Ally) and keep at least $20K of those funds at Marcus through at least May 21. Will fund both our joint account and my wife’s individual account for $10k each and see what happens.
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SrGrumpy
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Re: Marcus $100 bonus

Post by SrGrumpy »

H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
You'll be fine. My promo is designated as "active" after I did the same thing, although I transferred $10k from Marcus to Bank 1 and in turn to Bank 2 and then back to Marcus.
an_asker
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Re: Marcus $100 bonus

Post by an_asker »

WolfgangPauli wrote: Wed Feb 03, 2021 7:19 pm
candb wrote: Wed Feb 03, 2021 5:25 pm
an_asker wrote: Wed Feb 03, 2021 5:12 pm
centrifuge41 wrote: Fri Jan 15, 2021 12:25 pm If you get an AARP membership ($16 a year), you can get a 0.1% interest boost for your Marcus savings account for 2 years. You also become eligible for specific AARP no-penalty CDs (currently 0.55% for 8 months).

Swagbucks offers a $3 rebate on AARP membership right now. Sometimes they rebate $12.
To get the 0.1% boost, do you need to be an AARP member when you open the Marcus account or can you sign up afterwards?

Thanks!
You can sign up afterwards.
Just did it.. very simple.. you have to call or get them to call you through Chat.. They did it on the spot and lasts 24 months.. .1 over normal..
Thanks! Will set this up this week...
TravelGeek
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Re: Marcus $100 bonus

Post by TravelGeek »

WolfgangPauli wrote: Wed Feb 03, 2021 7:19 pm
Just did it.. very simple.. you have to call or get them to call you through Chat.. They did it on the spot and lasts 24 months.. .1 over normal..
You can actually do it online.

https://www.marcus.com/us/en/savings/aa ... id=8875397
H-Town
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Re: Marcus $100 bonus

Post by H-Town »

MikeG62 wrote: Wed Feb 03, 2021 8:06 pm
H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
I am not so sure about that. After all, Marcus is trying to incentivize people to bring additional funds to Marcus. Moving money out for a few days and registering in between those days and bringing the same amount of money back doesn’t really accomplish that objective.

There is this from the fine print...

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.

FWIW, I moved $30k out of Marcus in late January. Am thinking if I sign up for the offer on Feb 12th and fund by Feb 21 “maybe” I’ll get it as I’ve at least put several weeks between the late January withdrawal and the Feb 21 funding. I also do have a pattern of moving funds in and out of Marcus every month. If I don’t get the bonus, then I don’t get the bonus. My plan is actually to bring back about $150k (proceeds from three maturing NP CD’s at Ally) and keep at least $20K of those funds at Marcus through at least May 21. Will fund both our joint account and my wife’s individual account for $10k each and see what happens.
I can see that fine print makes people think twice. I actually did the same thing when Marcus ran the promotion last year. I got the bonus. Marcus is pretty cool with those promotions. One of the many reasons I keep my cash reserve there.
Time is the ultimate currency.
Marseille07
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Re: Marcus $100 bonus

Post by Marseille07 »

SrGrumpy wrote: Wed Feb 03, 2021 8:05 pm
Marseille07 wrote: Wed Feb 03, 2021 7:41 pm

EDIT: Just pinged their CSR, it turned out I deposited 10K but other debits made my account balance lower and my promotion expired at that time. I have other monies I can deposit later this month but the timing won't align. Oh well, so much for that.
Ugh. I did that once, but didn't realize until the 90 days was up and was looking for my bonus. You have to be careful not to withdraw any money - or whatever the rule is. Well, there's always next year.

FWIW, folks can verify their participation by logging on, clicking on the savings account in question, and looking for "Active Offer" in the "Account Details" box.
Thanks. The thing is, this "Active Offer" line doesn't show up unless you're enrolled into a promotion. I guess I now know how to check, but I wish they had a menu for past promotion enrollment history or something.
SrGrumpy
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Re: Marcus $100 bonus

Post by SrGrumpy »

Marseille07 wrote: Wed Feb 03, 2021 11:38 pm
SrGrumpy wrote: Wed Feb 03, 2021 8:05 pm
Marseille07 wrote: Wed Feb 03, 2021 7:41 pm

EDIT: Just pinged their CSR, it turned out I deposited 10K but other debits made my account balance lower and my promotion expired at that time. I have other monies I can deposit later this month but the timing won't align. Oh well, so much for that.
Ugh. I did that once, but didn't realize until the 90 days was up and was looking for my bonus. You have to be careful not to withdraw any money - or whatever the rule is. Well, there's always next year.

FWIW, folks can verify their participation by logging on, clicking on the savings account in question, and looking for "Active Offer" in the "Account Details" box.
Thanks. The thing is, this "Active Offer" line doesn't show up unless you're enrolled into a promotion. I guess I now know how to check, but I wish they had a menu for past promotion enrollment history or something.
They didn't have an app until last May, so ... Can you check email history? I have confirmation emails from Feb. 2020 and July 2019 (as well as Jan. 2021)
Marseille07
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Re: Marcus $100 bonus

Post by Marseille07 »

SrGrumpy wrote: Wed Feb 03, 2021 11:51 pm
Marseille07 wrote: Wed Feb 03, 2021 11:38 pm
SrGrumpy wrote: Wed Feb 03, 2021 8:05 pm
Marseille07 wrote: Wed Feb 03, 2021 7:41 pm

EDIT: Just pinged their CSR, it turned out I deposited 10K but other debits made my account balance lower and my promotion expired at that time. I have other monies I can deposit later this month but the timing won't align. Oh well, so much for that.
Ugh. I did that once, but didn't realize until the 90 days was up and was looking for my bonus. You have to be careful not to withdraw any money - or whatever the rule is. Well, there's always next year.

FWIW, folks can verify their participation by logging on, clicking on the savings account in question, and looking for "Active Offer" in the "Account Details" box.
Thanks. The thing is, this "Active Offer" line doesn't show up unless you're enrolled into a promotion. I guess I now know how to check, but I wish they had a menu for past promotion enrollment history or something.
They didn't have an app until last May, so ... Can you check email history? I have confirmation emails from Feb. 2020 and July 2019 (as well as Jan. 2021)
Yeah I have confirmation emails, just that I wasn't aware my promotion enrollment had fallen off as they didn't tell me anything about that and there's no way to find it on the portal. Not a big deal though, I won't qualify for this one anyway.
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birdog
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Re: Marcus $100 bonus

Post by birdog »

Retired1809 wrote: Wed Feb 03, 2021 7:51 pm Would I need to thaw my frozen credit to take advantage of this? (I am not a Marcus customer.)
Nope.
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Re: Marcus $100 bonus

Post by 808 »

Retired1809 wrote: Wed Feb 03, 2021 7:51 pm Would I need to thaw my frozen credit to take advantage of this? (I am not a Marcus customer.)
I was not a Marcus customer and did NOT have to unfreeze any CRAs (including CHEX). I believe I read somewhere that they use Early Warning which, fortunately or unfortunately, cannot be locked.
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Re: Marcus $100 bonus

Post by TheOscarGuy »

am wrote: Sat Jan 16, 2021 10:21 am After taxes it’s 60 bucks, plus another account to think and worry about. No thanks.
Exactly, once you factor in taxes it makes lesser sense to me, given its a hassle.
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Re: Marcus $100 bonus

Post by MikeG62 »

H-Town wrote: Wed Feb 03, 2021 9:20 pm
MikeG62 wrote: Wed Feb 03, 2021 8:06 pm
H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
I am not so sure about that. After all, Marcus is trying to incentivize people to bring additional funds to Marcus. Moving money out for a few days and registering in between those days and bringing the same amount of money back doesn’t really accomplish that objective.

There is this from the fine print...

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.

FWIW, I moved $30k out of Marcus in late January. Am thinking if I sign up for the offer on Feb 12th and fund by Feb 21 “maybe” I’ll get it as I’ve at least put several weeks between the late January withdrawal and the Feb 21 funding. I also do have a pattern of moving funds in and out of Marcus every month. If I don’t get the bonus, then I don’t get the bonus. My plan is actually to bring back about $150k (proceeds from three maturing NP CD’s at Ally) and keep at least $20K of those funds at Marcus through at least May 21. Will fund both our joint account and my wife’s individual account for $10k each and see what happens.
I can see that fine print makes people think twice. I actually did the same thing when Marcus ran the promotion last year. I got the bonus. Marcus is pretty cool with those promotions. One of the many reasons I keep my cash reserve there.
OK, good to hear.

As others have pointed out, it's not big dollars pre or post tax. However, if you are going to have $10K/$20K sitting in a bank somewhere, this is not a bad place to have it sit for 90 days.
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z3r0c00l
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Re: Marcus $100 bonus

Post by z3r0c00l »

TheOscarGuy wrote: Thu Feb 04, 2021 5:23 am
am wrote: Sat Jan 16, 2021 10:21 am After taxes it’s 60 bucks, plus another account to think and worry about. No thanks.
Exactly, once you factor in taxes it makes lesser sense to me, given its a hassle.
Minus the $12.50 you would get in an online bank account on that balance : )
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MikeG62
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Re: Marcus $100 bonus

Post by MikeG62 »

z3r0c00l wrote: Thu Feb 04, 2021 6:15 am
TheOscarGuy wrote: Thu Feb 04, 2021 5:23 am
am wrote: Sat Jan 16, 2021 10:21 am After taxes it’s 60 bucks, plus another account to think and worry about. No thanks.
Exactly, once you factor in taxes it makes lesser sense to me, given its a hassle.
Minus the $12.50 you would get in an online bank account on that balance : )
You are also getting the $12.50 at Marcus (50bps in their OLS account) on top of the $100 bonus :-)
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Re: Marcus $100 bonus

Post by LadyGeek »

I removed a post offering a referral link. As a reminder, see: No Solicitation
Members may not post affiliate or referral links, except affiliate links in support of the forum, or ask for referrals.
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Re: Marcus $100 bonus

Post by indexfundfan »

Bonus received (two days after the maintenance period).
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H-Town
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Re: Marcus $100 bonus

Post by H-Town »

MikeG62 wrote: Wed Feb 03, 2021 8:06 pm
H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
I am not so sure about that. After all, Marcus is trying to incentivize people to bring additional funds to Marcus. Moving money out for a few days and registering in between those days and bringing the same amount of money back doesn’t really accomplish that objective.

There is this from the fine print...

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.

FWIW, I moved $30k out of Marcus in late January. Am thinking if I sign up for the offer on Feb 12th and fund by Feb 21 “maybe” I’ll get it as I’ve at least put several weeks between the late January withdrawal and the Feb 21 funding. I also do have a pattern of moving funds in and out of Marcus every month. If I don’t get the bonus, then I don’t get the bonus. My plan is actually to bring back about $150k (proceeds from three maturing NP CD’s at Ally) and keep at least $20K of those funds at Marcus through at least May 21. Will fund both our joint account and my wife’s individual account for $10k each and see what happens.
Just received the $100 bonus... 4/21 was the last day of "maintenance period".
Time is the ultimate currency.
SrGrumpy
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Re: Marcus $100 bonus

Post by SrGrumpy »

H-Town wrote: Fri Apr 23, 2021 10:37 am
MikeG62 wrote: Wed Feb 03, 2021 8:06 pm
H-Town wrote: Wed Feb 03, 2021 11:14 am
I transferred out 10,500 to checking account. 500 to pay monthly expenses. It hit the checking account the very next day. Then I register for the $100 bonus program, and then move 10,000 back. I think it’s pretty clear to me that before I register the bonus program, I can withdraw however much I want.
I am not so sure about that. After all, Marcus is trying to incentivize people to bring additional funds to Marcus. Moving money out for a few days and registering in between those days and bringing the same amount of money back doesn’t really accomplish that objective.

There is this from the fine print...

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.

FWIW, I moved $30k out of Marcus in late January. Am thinking if I sign up for the offer on Feb 12th and fund by Feb 21 “maybe” I’ll get it as I’ve at least put several weeks between the late January withdrawal and the Feb 21 funding. I also do have a pattern of moving funds in and out of Marcus every month. If I don’t get the bonus, then I don’t get the bonus. My plan is actually to bring back about $150k (proceeds from three maturing NP CD’s at Ally) and keep at least $20K of those funds at Marcus through at least May 21. Will fund both our joint account and my wife’s individual account for $10k each and see what happens.
Just received the $100 bonus... 4/21 was the last day of "maintenance period".
Got mine today. So much for the "gaming" naysayers.
Westwing
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Re: Marcus $100 bonus

Post by Westwing »

My 90 day "don't touch" period ended Tuesday, April 27th. Bonus was paid the next day, the 28th. Not sure how it could have been easier. Always looking for stuff like this.
H-Town
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Re: Marcus $100 bonus

Post by H-Town »

Westwing wrote: Wed Apr 28, 2021 8:56 am My 90 day "don't touch" period ended Tuesday, April 27th. Bonus was paid the next day, the 28th. Not sure how it could have been easier. Always looking for stuff like this.
https://www.doctorofcredit.com/targeted ... unt-bonus/

AMEX got $250 bonus if you hold $25k there for 3 months. The interest rate is 0.40% which is lower than Marcus. And the fine print of AMEX bonus looks rather strict. But YMMV.
Time is the ultimate currency.
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