[CO only] On Tap Credit Union $150 Checking Bonus

Update 8/2/26: Extended until 10/31/26

Update 5/4/25: Available again, no end date listed.

Update 3/3/24: Deal is back and valid through December 2024 (ht reader Heather)

Update 4/15/23: Deal is back through Dec 2023.Recent dp say it’s a soft pull.

Offer at a glance

The Offer

Direct link to offer

On Tap Credit Union is offering a bonus of $150 when you open a new checking account and complete the following requirements:

Use promo code CHECKING150

Mention promotion at account opening

Set up a direct deposit of at least $500 and maintain it for six months

Make at least 10 debit card purchases

The Fine Print

Subject to IRS dividend reporting.Must mention this promotion at the time of account opening to qualify.A $5 par membership share with On Tap Credit Union is required.

Checking account and direct deposit must be maintained for six (6) months after the date opened.

Offer available through Dec 2022.

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

According to the fee schedule there is a $5 fee if the account is closed within six months.You need to keep the account open for longer than six months anyway to complete the requirements.

Our Verdict

Very annoying that the direct deposit must be maintained for six months, not worth it for a lot of people.

Hat tip to alopez14

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Disclaimer: This story is auto-aggregated by a computer program and has not been created or edited by mycardopinions.
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Frequently Asked Questions

Certainly. Unlike personal loans, you won't face any penalties for settling your balance ahead of schedule. However, it's crucial to keep in mind that if your credit card comes with a 0% introductory offer, it's essential to clear your balance completely before the 0% promotion expires and interest charges apply.

However, you can include additional cardholders, each with their own card. While sharing the single credit limit, the primary cardholder remains responsible for settling the debt.

Potentially, yes. Credit card APRs are typically variable, allowing lenders to change rates, impacting your monthly payments. Additionally, be mindful that introductory 0% offers can lead to higher interest rates once they expire. So, it's wise to clear your balance before that happens, if feasible.

Indeed, credit builder cards exist for those with less-than-ideal credit scores. These cards offer lower credit limits (typically £150 to £1,200) and higher interest rates. Responsible use, including full and on-time payments, can gradually boost your creditworthiness, potentially opening doors to better credit card offers down the line.