Over the last few months, I’ve been searching for and validating some of the most epic money-making hacks on the net. I’m seeking simplistic, and risk-free ways to improve my financial picture. Most importantly these “hacks” need to be effortless and require no prior training or knowledge, unlike blogging, affiliate marketing, or doing freelance work.
Yesterday, I ran across a fantastic promotion from Navy Federal Credit Union (NFCU). In honor of National Military Appreciation Month, NFCU is offering bonuses for new member referrals, checking accounts, certificates, auto refinances and credit cards.
I’m super excited because I’ve already verified that this hack works. Last year, I racked up $350 for opening a new account and refinancing an auto loan.
Now, could you use an extra $710?
If so, please continue reading to discover the latest offering from the Military’s best credit union.
1. Provide a membership referral – $250
NFCU is actively seeking to expand its members by offering $50 per referral for new membership. Those eligible include DoD Civilians, Contractors, Active Duty Military, Retired Military, Reservist, Guardsmen, and their dependents.
Unfortunately, Recruiters are not authorized to refer recruits.
A $5 minimum balance is required to open and maintain a savings account, and to obtain the bonus.
The bonus will deposit within 14 business days of the account opening. Referrals are limited to five referrals per member and may only be made by members in good standing.
2. Open an account – $50
If you’re in the market for a new military checking account, then consider Active Duty Checking from NFCU. The account doesn’t require a deposit to open, is fee-free (except for overdrafts and NSF).
To earn the bonus accounts must be opened during Military Appreciation Month. Applicant must be Active Duty, Reservist, or Retirees and have a qualifying Military Direct Deposit of at least $300 that posts within 90 days.
The bonus will deposit within 30 days of account opening.
3. Refinance an Auto Loan – $200
Have you considered lowering your interest rate or resetting your payments? Refinance your auto loan with NFCU and earn $200. Also, Active Duty and Retirees save an additional 1/4% APR on loans provided an allotment is established for payment.
This offer is available to Active Duty, Reservist, and Retirees who submit a refinance application during the month of May.
The bonus will be credited to your savings account after receipt of the first scheduled payment
4. Open a Credit Card – $200
If you have decent credit, then apply for a new cashRewards credit card from NFCU. Upon approval, the $200 bonus will be deposited after spending $2,000 within the first 90 days of account opening.
Please be smart…
When you open a cashRewards account, you’ll earn 1.5% Cash Back on all purchases.
5. Start saving with a 15-month CD – $10 / 3.00 APY
Open a 15-month Military Appreciation Certificate with a 3.00% APY and start growing your savings. Receive an additional $10 incentive when you set up a recurring transfer from an existing NFCU account.
In my opinion, this is one of the best offers currently available for Certificates of Deposit. The Military Appreciation Certificate has a $25 minimum balance and a $10,000 maximum balance. Additional deposits are allowed at any time so long as you don’t exceed $10,000.
If all requirements are met, the $10 bonus will be paid directly into the Certificate as a divided no later than 30 September 2016.
Sounds easy right?
To recap, you need to refer five new members to NFCU, open a checking account, refinance your auto loan, open a credit card and establish a new CD.
Not a bad way to make an extra $710 in the next 90 days! With proper planning, this could be the extra dough needed for a late summer vacation.
Either way, leave a comment below and let us know if this money hack worked for you.