MyCardBlog

There are not many credit card promotions out there but as you might discover that there are many banking sign up bonus opportunities recently. Today one of MyCardBlog.com readers sent me a link which offers up to $500 free gas for opening a checking account with direct deposit. I was shocked and wanted to share this huge promotion to many of you (This promotion is only available at many states.).

The Flagstar Bank is offering up to $500 free gas card for opening a new checking account with direct deposit. However, this is not the offer that you can redeem your $500 gas card all at a time. Instead, you can only get $25 each month and it takes 1 year and 7 months to get the $500 gas cards. Some details about this promotion can be found at www.flagstar.com/gasoffer.

Banking requirements for the $500 gas card:

• Open a primary checking account with an automatic, recurring direct deposit of income of at least $250 per month.
• Direct deposit must be established within first 60 days of account opening to be eligible.
• Minimum opening deposit is $50.
• All accounts must remain open and active for a minimum of six months.
• Offer is limited to new customers only.

How to get the $500 gas card?

As a pointed out, the redemption process takes about 19 months to get the $500 gas cards. Basically, you have to mail your receipts (>$100) to get a $25 gas voucher each month. But it’s still a good offer since you can save $25 on gas each month.

To take advantage of the offer, you have to register at www.freegasward.com which operates the promotion. After completing the registration process, you can print out your fist gas voucher which can be used immediately. Then you have to make a minimum monthly purchase of $100.00 in gasoline each month and mail the original receipts (not photocopies, or receipts collected on the same day) with your redemption voucher to: Free Gas, 14100 Walsingham Rd., Suite 36, Largo, Florida 33774.

You can only select one brand of gasoline and collect the receipts from that brand of gasoline. Receipts from other brand will be voided.

The details of the promotion can also be found at local Flagstar Bank branches.

Flagstar is the largest publicly traded savings bank headquartered in the Midwest United States (Troy, MI). The bank currently operates 171 banking centers (as of September 2008) in Michigan, Indiana and Georgia. The website of this bank is www.flagstar.com.