June 30, 2024
28 Comments
by William Charles
Offer at a glance
- Maximum bonus amount:$450
- Availability:Must be a resident of DE, MD, NJ, PA
- Direct deposit required:No
- Additional requirements:See below
- Hard/soft pull:Soft pull
- ChexSystems:Unknown
- Credit card funding:Can fund at least $1,000 with a credit card
- Monthly fees:Yes, $10 or $25 monthly fee (avoidable)
- Early account termination fee:$25, 1 year
- Household limit:One
- Expiration date:12/31/2024
Contents
- 1 The Offer
- 2 The Fine Print
- 3 Avoiding Fees
- 3.1 Monthly Fees
- 3.1.1 FirstPay Checking Account
- 3.1.2 FirstPay Premier Checking
- 3.2 Early Account Termination Fee
- 3.1 Monthly Fees
- 4 Our Verdict
The Offer
- Firstrust Bank is offering up to 50,000 points when you open a new checking account. Bonuses are as follows:
- Open a Eagles FirstPaySM Checking and earn 35,000 points when you spend $350 within 60 days
- Open a Eagles FirstPaySM Premier Checking and earn 50,000 points when you spend $500 within 60 days
The Fine Print
- Limit 1 bonus reward points offer per household. Bonus points may be redeemed for gift cards, merchandise, or travel.
- Bonus will be provided 60 days after completion of the spend requirement.
- Points will not be earned for ATM or other cash withdrawals, for transferring funds, Bill Pay transactions, or for transactions using third-party money transmission service providers. Points can be redeemed through scorecardrewards.com.
- Reward points have no cash value. Other terms and conditions apply, see Program Rules for complete details. Offer can be withdrawn at any time without notice.
- New Eagles FirstPaySM checking customers can earn 35,000 bonus points. Eagles FirstPaySM customers will become eligible for the bonus points by making debit card purchases totaling $350 or more within 60 days of new account opening. Official Bonus Point Program Rules – FirstPaySM Debit Card
- New Eagles FirstPaySM Premier checking customers can earn 50,000 bonus points. Eagles FirstPaySM Premier customers will become eligible for the bonus points by making debit card purchases totaling $500 or more within 60 days of new account opening. Official Bonus Point Program Rules – FirstPaySM Premier Debit Card
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
FirstPay Checking Account
To avoid monthly maintenance fee ($10), account is required to have one of the following each month: $500 minimum daily balance, monthly direct deposit, 10 debit card purchases or 5 online bill payments.
FirstPay Premier Checking
To avoid monthly maintenance fee ($25), account is required to have one of the following maintain $5,000 combined balance in deposits accounts or have $50,000 in consumer loans and lines of credit balances.
Early Account Termination Fee
There is an early account termination fee of $25 if closed within a year.
Our Verdict
The points system is a bit annoying but the some redemptions are:
- 12,400 points = $100 cash back via ACH
- 10,800 points = $100 gift card to Amazon, Walmart, Target, Home Depot, Cabela’s Best Buy, Sephora
- 3600 points = $25 cash back via ACH
- 6500 points = $50 cash back via ACH
- 9500 points = $75 cash back via ACH
- 5500 points = $50 gift card to Amazon, Home Depot, Darden Restaurants, Best Buy, etc…
- 3200 points = $25 gift card to Apple
- 2700 points = $25 gift card to Barnes & Noble
So the 35,000 point bonus is basically 3 x $100 gift cards and the 50,000 point bonus is 4 x $100 gift cards and a $50 ACH. Even though the points are annoying this is better than when it’s an all cash bonus and very much doing doing as no direct deposit is required. Will add this to our list of the best bank account bonuses.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
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28 Comments
newest
oldest most voted
G O(@guest_1867786)
July 1, 2024 18:55
#1867786
How do we close this account? No info on DOC website. Can it be done online/call?
Reply
Slick Nick(@guest_1867993)
July 2, 2024 00:34
#1867993
G O
G O I think I did it via secure message, but I can confirm 100% I did it without going in to a branch
Smurfit(@guest_1867531)
July 1, 2024 12:31
#1867531
Where is the breakdown of the points rewards?
Reply
brian(@guest_1867486)
July 1, 2024 11:36
#1867486
I checked the website https://www.scorecardrewards.com and did not see anything listed for cash back via ACH
or gift cards for Amazon, Walmart, Target, Home Depot, Cabela’s Best Buy, Sephora.
if anyone wants to check or has any info on this
1
Reply
TJ(@guest_1867529)
July 1, 2024 12:29
#1867529
brian
Agree. I see some gift cards listed but selection is small and not worth the hassle. Unless they update often. To see list click Browse and on three lines (Shop Rewards) on left and on any category. Then go back and click three lines and scroll to gift cards and click. Don’t see any info on ach option.
Reply
atexit8(@guest_1867711)
July 1, 2024 16:45
#1867711
brian
Thanks for the link to the rewards website.
Useless gift cards for me.
Reply
bishop(@guest_1867476)
July 1, 2024 11:26
#1867476
how strict is Firstrust with the “one bonus per household”?
Reply
brian(@guest_1867434)
July 1, 2024 10:32
#1867434
Since it’s points, the bonus are not taxable?
Reply
Chris(@guest_1867253)
June 30, 2024 22:57
#1867253
How long does the card take to arrive? The 60 days starts the day you apply?
Reply
atexit8(@guest_1867172)
June 30, 2024 18:31
#1867172
So basically this is $350 spend and to get $300 – $25 (early closing penalty)
Reply
Bill(@guest_1867516)
July 1, 2024 12:05
#1867516
atexit8
I believe so. I like the $350 one better because the other one you lose at least $200 of interest for a year to maintain the $5k balance. Although probably would be better just to close that one early and take the penalty. 🙂
Reply
john(@guest_1867124)
June 30, 2024 16:43
#1867124
Be careful with this bank if you cant go in person. They locked me out of my account and demanded i come in person. Lost my $25 balance.
Reply
randomguy(@guest_1867046)
June 30, 2024 14:03
#1867046
$300 Walmart gift card comes with the headache of keeping the account active for a year?Hmmmm.
Reply
Jake(@guest_1867122)
June 30, 2024 16:37
#1867122
randomguy
LOL. If you balk at a $25 close out fee maybe this isn’t the hobby for you.
Reply
Not Sam(@guest_1867165)
June 30, 2024 18:23
#1867165
Jake
Exactly. I factored that into account.
Reply
Jake(@guest_1867027)
June 30, 2024 12:59
#1867027
As a birds fan and PA resident with a branch down the road, I’m in for it. Lock the account or not on me I don’t care. Big rule for me is if I can go in face to face to fix it I don’t mind. Learned my lesson with US Bank when they made me travel state lines to get an account closed after they closed me out.
Reply