DOC Compass — Offers, decoded

Update 10/24/22: Deal is back, no expiration date.

Offer at a glance

Maximum bonus amount: $100
Availability: Nationwide. (If you are not eligible through one (the 2,000) of these paths, you have the option to join by making a one-time $5 donation to the New Jersey Coalition for Financial Education or the Connecticut Jump$tart Coalition)
Direct deposit required: Yes, $100+
Additional requirements: See below
Hard/soft pull: Soft pull
ChexSystems: Unknown, sensitive (not sensitive in branch)
Credit card funding: Up to $1,000 with Visa, Mastercard or Discover. Cannot go over otherwise it won’t work.
Monthly fees: None
Early account termination fee: Six months, bonus forfeit
Household limit: None
Expiration date: ~~September 30, 2022~~ None

The Offer

Direct link to offer

Affinity Federal Credit Union is offering a $100 referral bonus to both parties when the new member opens an affinity cash back debit account with a direct deposit of $100+ within 60 days of account opening

The Fine Print

*The Member, or Referrer. Members of Affinity Federal Credit Union in good standing and 18 years of age or older with an active Affinity checking or savings account are eligible to participate. Once a member makes a referral, they become a “Referrer” and will be provided with a unique referral link that allows them to receive a $100 bonus for each referred friend or family that has met all the qualifying criteria as defined below. The member may earn a maximum of $1,000 in referral bonuses per calendar year, which equates to 10 friends, family or colleagues completing the qualifying criteria. There is no limit to the number of referrals a member can make.
The Friend, Family or Referred. In order to receive the $100 bonus, the referred friend or member must 1) Open an Affinity Cash Back Debit account 2) Make a qualifying direct deposit of $100 or more within 60 days of account opening. A qualifying direct deposit is an automatic electronic deposit known as an ACH (Automated Clearing House) of your paycheck, Social Security, pension, or other recurring income in the amount of $100 or more. Multiple deposits totaling $100 do not qualify. External and internal transfers, mobile deposits, cash, or check deposits and person-to-person payments such as Zelle®, do not qualify as a direct deposit. Offer valid only for new members who join Affinity.
Fulfillment. Bonus will be deposited into the referring member and new member’s checking account by the last business day of the month following completion of all qualifying criteria (for example: if the new member’s account is opened on July 15, 2022; qualifying deposits are made by August 13; $100 bonus will be deposited to the members eligible checking or savings account and the new member’s Cash Back debit account by September 30, 2022). Bonus may be reported as taxable income and will be reported on an IRS 1099 Form, if applicable. Additional exclusions may apply. Offer subject to change without notice.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has no monthly fees to worry about

Early Account Termination Fee

This account has no EATF.

Our Verdict

Sometimes this account is only open to NY, CT. Doesn’t look to be the case at the moment. Has been as high as $150 in the past, this is a better offer if a friend or family member can refer you. Do not share your referrals in the comments, you can share them in this linked post instead.

Hat tip to MC

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