August 18 2007
By MoneyBlueBook

As part of its NetBank Affinity Program, NetBank offers many variations of cash and point rewards for new customers. NetBank has partnered up with various companies such as TripRewards and U.S. Airways to offer new NetBank customers reward points in their preferred affiliated program. While I personally signed up through the TripRewards Affinity Promotion at NetBank (I was not aware of the cash promotion at the time), I recommend signing up for the cash reward Affinity Promotion at NetBank instead. Cash is almost always best!

Choose and Be Qualified for Promotional Money

Find the right credit card for you

What type of card do you want?

Low Interest Cash Back Low Intro Rate Balance Transfer Gas Rewards Credit Card Deals Miles/Points Student Credit Cards Business Credit Cards Bad Credit

How much do you charge per month?

• More than $2,500
• Less than $2,500

Do you carry a balance?

• Always
• Sometimes
• Never

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To qualify for the "Up to $235 Offer", you'll need to sign up through this link and complete the following within 90 days. All required minimum balances for the promotion must be maintained above the minimum for at least 30 days to qualify.

Pursuant to the promotion, you can receive:

• $75 for opening a NetBank checking account
• $75 for opening a NetBank money market account,and
• $85 for opening a 1 year Certificate of Deposit (CD) with at least $1,000.

Read The Terms Carefully

However, do be aware that there have been complaints about NetBank's fee schedule, including

• Online Bill Payment Inactivity - $5 per month after 3 successive months of inactivity on accounts with average monthly balances of less than $3,000.
• Early Closure - $25 for checking or money market account closed within 6 months
• Dormant Checking Account - $5 month beginning 12 months after most recent activity, and
• Account closure - $7.50

If you are in it for just the sign up promotion as I was, I would recommend avoiding the possibility of fees altogether by funding the accounts of your choice and then close it after maintaining the required balances for 30 days to qualify for the promotion. As I mentioned, I applied for the TripRewards Affinity Promotion at NetBank and after completing the requirements, I did receive my promotional TripRewards points. It took several weeks of e-mails back and forth between TripRewards and I, but I did receive my points. So it worked for me!