Funding a large bank account to recieve a sign on bonus - Any good deals?

You sould probably do better with a few 2,000 deposits or so forth. For example Chase has a 200 cash bonus for 1,500 in deposits.

here's a site that will help:
http://www.hustlermoneyblog.com/b...ses-deals/

Correct me if I am wrong, but isn't there a significant tax penalty on profits from selling your primary residence if you do not put those profits towards the purchase of a home in a set period of time?

Not sure if it applies in this case, or if your brother cares, but it could result in a much higher cost then a $100 Apple Giftcard could make up for.

Quote from phonic : Correct me if I am wrong, but isn't there a significant tax penalty on profits from selling your primary residence if you do not put those profits towards the purchase of a home in a set period of time? Not sure if it applies in this case, or if your brother cares, but it could result in a much higher cost then a $100 Apple Giftcard could make up for.

If he's lived in the house as a primary residence for the past 2 years then he won't pay any taxes if his gain is less than $250k if single or $500k if married.

To the op if he's got that much cash just look for the highest rate of return.

A 2% CD for example will get you a lot more in the long run than a 1.4% account with a $100 Apple gift card.

There are the Ally CDs where you can sign up for a 5 year and pull out early. Only penalty is loss of 2 months of interest. Compared to the 1 yr rates out there the break even point is pretty early on and everything else is just extra $$. There are other similar types of places as well, they are just one example.

Quote from LivninSC : If he's lived in the house as a primary residence for the past 2 years then he won't pay any taxes if his gain is less than $250k if single or $500k if married.

This is correct, however it doesn't need to be the past 2 years. It just needs to be 2 of the past 5 years.

i agree that there are a lot of smaller ones that give sign up bonuses for opening an account for far less than 100k. it'll take a lot of work though opening multiple accounts.

make sure to read all the fine print for those things though. a lot of them require you use the debit card or use online bill pay.

Quote from LivninSC : If he's lived in the house as a primary residence for the past 2 years then he won't pay any taxes if his gain is less than $250k if single or $500k if married. To the op if he's got that much cash just look for the highest rate of return. A 2% CD for example will get you a lot more in the long run than a 1.4% account with a $100 Apple gift card. There are the Ally CDs where you can sign up for a 5 year and pull out early. Only penalty is loss of 2 months of interest. Compared to the 1 yr rates out there the break even point is pretty early on and everything else is just extra $$. There are other similar types of places as well, they are just one example.

Thanks for clarifying.

Regarding Ally Bank, I've read heard some negative information about them lately. Something about them getting horrible audit results or something like that, and people have recommended staying away from them.

Quote from phonic : Thanks for clarifying. Regarding Ally Bank, I've read heard some negative information about them lately. Something about them getting horrible audit results or something like that, and people have recommended staying away from them.

I've heard the same but it is FDIC insured. Still, check out others and see if you can find some with a not so painful easy withdrawl penalty

Doesn't Chase give u $150 when u deposit $1500.....i think BoA has something similar and you get better rate for large deposit.

tell him to sell house quick

http://www.reuters.com/article/20...9E20120404