There always seems to be a ton of bank shop opportunities. I really don't have an interest in opening up a new account or adding on an account to an existing account. Do people on the board here shop these types of shops?

I do them.... When I have satisfied the shop, I close them.

I shopped it once as it had a nice bonus. I closed the account after a while. I am thinking of doing it again as it has another nice bonus.

Can I ask you what you consider a nice bonus?

I do the same...just like MF Johnston, I think that one is limited to three shops perquarter...one credit card, one savings account, one checking account.

The banks for which I've opened accounts have both allowed one checking and two savings accounts... One of them also offers credit cards, but I have not done those....

When I did it the pay was $60 with a $20 bonus. It was a very easy shop to do.

I've done it several times. I was very satisfied! What's your hesitation?

each one that is done (open an account) = a hit on your credit score...regardless of what is claimed.

From what I have researched , opening a checking account is usually a soft pull on your credit report or they use the chex system which does not affect your credit score at all.
However every time you open a credit card you will have a hard pull on your credit score and it stays for two years. It is tempting to get 100 dollars to open an account or a credit card, and I have done it for that amount. I do feel however I can get more out of opening a credit card for the bonus awards from the credit card companies themselves. For example if I open a BOA credit card for a MSC I get 100 dollars and have to do a report. However I opened a AMEX card 2 months ago, and after 1000 spending on it ( I had 3 months to make the bonus) I received 2-3 nights free at a Hilton hotel and the cheaper ones are 150 per night so =300-450 tax free. That is why I feel it is more lucrative to open checking and credit cards for the Bonus versus opening them for shops. Another example is Citizens bank is offering 150 dollar bonus to open a checking account at my local grocery store. I was like "what the heck why not?" No report and 150 cash ( I have to wait 3 months and keep account open for six months).
And just a FYI google doctor of credit he has a web site about all these bonus accounts.
I have been opening and closing accounts for over a year and my credit is 800. i open about 6-8 credit cards a year and curently I have 5 checking accounts open. Does tie up a little money as well on the down side.

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Edited 1 time(s). Last edit at 05/29/2017 02:48AM by Robin2.

Jimmydoe,

I totally agree about opening up the credit cards. The credit card companies offer some pretty amazing sign up bonus offers that have allowed my family to travel for free.

@Robin2 wrote:

I just got through with the banking shops. It was uncomfortable and embarrassing when the Associate noticed a previous account opened and closed years ago, and I realized this would be the last time I would be working with this bank brand. There is no way to keep my motives secret when records will show that I've been going in there, opening accounts and closing them for years.

I have rental property, opening and closing accts associated with each tennant/address is not unusual. People open and close accts all the time for all kinds of reasons, the banker does not think twice nor does it out you.