Update 8/27/24: Bonus is up to $200 now. (Previously this was either $100 or $120.) Hat tip to readers Justin and SD
Offer at a glance
Maximum bonus amount: $100 $120
Availability: Nationwide, must be new member
Direct deposit required: No
Additional requirements: Open $1,000 CD
Hard/soft pull: Soft
ChexSystems: Yes, some reports of chexsystems sensitivity in the comments but lots approved as well
Credit card funding: None
Monthly fees: None with eStatements
Early account termination fee: Unknown
Household limit: None listed
Expiration date: Unknown
The Offer
Rakuten shopping portal is offering $100 or 10,000 points when you click through the portal and open a certificate of deposit with Alliant Credit Union.
The Fine Print
Cash Back is only available for new customers, one per person.
Customer must fund a minimum deposit of $1,000.00 on a new Alliant Certificate.
The account must remain open for a minimum of 60 days.
This offer and any payouts are from Rakuten, not Alliant Credit Union.
Posting Time: Cash Back will be automatically added to your Rakuten account within a few weeks.
Avoiding Fees
There aren’t any fees to be concerned with when you get eStatements.
Our Verdict
Looks like it’s possible to open a 3 month certificate and get the $100 bonus. The interest rate I’m seeing now is 4.25% which isn’t too bad. Could be a good deal, especially for someone who values Membership Rewards highly.
You might want to opt out of auto-renew on the CD.
Separately, there’s also a $100 bonus for opening an Alliant savings account and another $60 potential stack on that from Swagbucks. I’m not entirely sure if those deals can stack with this CD deal. (Maybe you can do this deal first and then do the savings deals, or vice versa?)
Hat tip to Christopher Robin
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
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull 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?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
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
Offer History:
Update:Bonus down to $100, better to wait for it to be $120 again.
Update 7/15/24: Rakuten offer increased now from $100 to $120 (ht Karsten)