Find new bank bonuses and promotions from New York Community Bank here. Typical promotions have been $100, $200, $300, $400, $500, etc.
New York Community Bank has branches in Arizona, Florida, New Jersey, New York and Ohio with around 250 branches. If you aren’t local to a branch, check out these bank offers instead.
New offers below.
50,000 Points Or $500 Yearly Promotion
This $500 bonus is more a rewards program that you accumulate to get to the $500 yearly. You’re automatically enrolled in the program when you open a personal checking account.
You can redeem for cash once you get to 2,000 Reward points for $20, and up to 50,000 ($500) points yearly. If you go over 50,000 points for the year, the extra points will carry over to the next month.
All you have to do is use your Visa check card in a variety of categories to earn reward points.
Basically, you’re using the Visa check card that is paired with a personal checking account from New York Community Bank to earn points. You’ll only earn rewards points for transactions of at least $50. Every transaction you make that is at least $50 will earn you 10 points. Those 10 points are worth 10 cents. As you can tell, it’s going to take quite a bit of spending to add up the rewards. Yes, that’s a 0.2% earning rate. If you spend more than $50 on that single transaction, you’re still only going to get the 10 points.
Once you accumulate at least 2,000 Rewards points($20 worth), you can then start to redeem for cash. You’re allowed to earn up to $500 yearly, but any amount you earn more than $500 will rollover to the following year. Your points never expire.
Here’s the example of how you can earn Rewards points as shown on their website:
Using the example above, when you add up your one-time points and your monthly points earned using your Visa® check card, you can earn up to 5,400 points or $54.00 for that year.
* The point values listed are based upon the assumption that each transaction is at least $50 or more.
It’s Almost Always Better Using A Rewards Credit Card…
Don’t get me wrong, it’s nice that you can actually earn rewards through this personal checking account. As a rule though, it’s better to use a Rewards earning credit card that usually will earn at least 1% back even with the most basic cards.
This program from New York Community Bank can come in handy, say, if you aren’t able to get approved for any Rewards credit cards.
I wouldn’t be rushing to the local branch for this offer, but I thought I’d share the info. *Check out better offers like the Chase coupon bonuses, TD Bank bonuses, or the CIT online banking promotions instead. More top offers below:
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- Chase Total Checking Account $200 Coupon Bonus, February 2017
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- PNC Bank Review: $400, $300, $200, $100 Promotions!