1 Ridiculously Easy Way to Earn $100 on a $50 Deposit Right Now
KEY POINTS
- Fidelity Bloom is a financial app that offers incentives and bonuses to help customers save money.
- New customers to Fidelity Bloom can earn a $100 bonus by downloading the app and maintaining a $50 net deposit for seven calendar days.
- The bonus will be deposited within 10 calendar days after the criteria are met.
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.
Our Picks for the Best High-Yield Savings Accounts of 2024
SoFi Checking and Savings
![]() APY
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn
$0
|
APY
up to 4.60%
Rate info
You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
|
Min. to earn
$0
|
Synchrony Bank High Yield Savings
![]() APY
4.75%
Rate info
Our Disclosure: Annual Percentage Yields (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchronybank.com for current rates, terms and account requirements. Member FDIC
Min. to earn
$0
|
APY
4.75%
Rate info
Our Disclosure: Annual Percentage Yields (APY) is subject to change at any time without notice. Offer applies to personal accounts only. Fees may reduce earnings. For High Yield Savings accounts, the rate may change after the account is opened. Visit synchronybank.com for current rates, terms and account requirements. Member FDIC
|
Min. to earn
$0
|
Capital One 360 Performance Savings
![]() APY
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn
$0
|
APY
4.25%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 11, 2024. Rates are subject to change at any time before or after account opening.
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Min. to earn
$0
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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.
These savings accounts are FDIC insured and could earn you 11x your bank
Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts could earn you 11x the national average savings account rate. Click here to uncover the best-in-class accounts that landed a spot on our short list of the best savings accounts for 2024.
Our Research Expert
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
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