If you’ve signed up for the $20 a month promo that Santander is currently offering for their extra20 checking and extra20 savings accounts, you should have received an e-mail that includes a link to a survey. If you complete the short survey you’ll receive a $5 Amazon Gift Card.
[Read: Get $20 per month to have a savings and checking account with Santander]
Multiple people are reporting that this e-mail appeared in their spam folder.
It looks like they are using the survey to gather information on potential changes to the free $20 month promotion. Some sample questions asked:
How interested would you be in the following:
Question 1:
- Get $20 every month for doing what you are already doing
- Get $20 Cash Back every month you make 20 transactions totaling at least $200 on your card in that month
- Annual percentage rate (APR) is between 15.9% and 24.9% depending upon your credit score
- No annual fee
Question 2:
- Get $20 every month for doing what you are already doing.
- Get $20 Cash Back every month you make 20 transactions of $20 or more each on your card in that month
- Annual percentage rate (APR) is between 15.9% and 24.9% depending upon your credit score
- No annual fee
Question 3:
- Get $20 every month for doing what you are already doing
- Every month you spend $400, you’ll receive $10 Cash Back
- Spend another $400 and you’ll receive another $10, for a total of $20 in that monthAnnual percentage rate (APR) is between 15.9% and 24.9% depending upon your credit score
- No annual fee
Question 4:
If you maintain your use of your extra20 Checking Account AND apply for the new Credit Card, we will give you a bonus $10 per month, enabling you to earn a total of $50 each month ($20 per month with the checking account PLUS $20 per month with the credit card PLUS a bonus $10 for just having both)
Our Thoughts
Obviously if you received this e-mail you should complete the incredibly short survey for the $5 gift card, it’ll take a few seconds of your time. The first option was the most appealing to me, because hitting the minimum 20 transactions would be quiet easy (19 x $0.15 amazon gift cards and then one purchase which was $197.15 or over). The second option was the next appealing, third option last in line because it would require $800 in spend for $20 back (2.5% cash back).
The $10 bonus if you held both the extra20 checking and the credit card would be a nice addition. I think this card will fail to get traction if those are the only bonuses on offering, there are lots of cards on the market where you get 1-2% cash back and a sign up bonus and other bonuses (such as 5% rotating categories like the Chase Freedom or Discover it).
The Good News
The way it’s worded makes it clear they are happy with the current extra20 checking & extra20 savings promotion and will continue to pay eligible customers $20 per month. If you haven’t already, we suggest you start to make use of this promotion for a free $20 every month with minimal effort.