1 Ridiculously Easy Way to Earn $100 on a $50 Deposit Right Now

I'm a sucker for a deal, and my credit history would tell you as much. I treat "hard inquiries" like tokens and take out new credit cards with lucrative welcome offers when an inquiry parts ways with my report after two years. I even look forward to the month it'll disappear. I think of it as an annual bonus.

So when I see a super-easy, no-strings-attached deal, I can't help but be overly enthusiastic. Recently, I stumbled upon one of the best bank bonuses I think I've ever come across. Better yet -- I actually like the account. It's Fidelity Bloom, and if you've never used it before, here's how you can earn $100 on a $50 deposit.

How to get a $100 bonus on a $50 deposit

The beauty of this $100 bonus is its simplicity: Quite literally all you have to do is download the Fidelity Bloom app, deposit $50 in your Fidelity Bloom Spend or Fidelity Bloom Save account, and make sure your net deposit is $50 at the end of seven calendar days. In other words, keep $50 in your new Fidelity account for seven days, and you'll qualify for the bonus.

To be clear, this is for new customers who have never opened a Fidelity Bloom account. If you have a Fidelity brokerage account -- in other words an account that's not Bloom -- rest assured you still qualify for the $100 bonus.

Once you've downloaded the app and linked an external bank account, deposit $50 into either your Fidelity Bloom Spend or Fidelity Bloom Save account. Then keep the $50 in your account for seven calendar days. Fidelity will look at your net deposit seven calendar days after you open your account. If that net deposit is $50, you get the bonus.

After seven calendar days, the bonus will be deposited into your Fidelity Bloom account within 10 more calendar days.

Sounds great. But what am I getting myself into?

Fidelity Bloom is a financial app designed to help you save money. It isn't a checking account. Rather, it's a brokerage account that's covered by SIPC insurance. Like FDIC insurance, SIPC insurance covers your Fidelity Bloom account if Fidelity were somehow to fail, up to $250,000 for cash ($500,000 total including your securities).

The app's features are pretty neat. It comes with a debit card that earns $0.10 for every purchase you make. That's not super impressive -- most cash back credit cards will give more value for your purchases -- but also not terrible considering it's a debit card linked to a free financial app. You also get a 10% annual match on your savings, up to $300 in deposits, or $30 extra per year.

When you open your Fidelity account, you'll notice you have two accounts: Spend and Save. This is designed to bring greater awareness to your spending. By putting some resistance between savings and spending, you might feel less compelled to let go of it. Who knows if it works -- you be the judge -- but it's a cool concept nonetheless.

All in all, this is an easy way to earn $100. Just keep in mind any rewards you earn through Fidelity Bloom will be considered taxable income and could be reported on a 1099. Prepare for the tax bill by setting aside some money in your savings account, and this reward can be a nice little bump for your personal finances.