In light of this little tidbit, we put together a list of the top 3 new checking account bonuses that won’t end up paying off if you’re not considered a ‘high value account’ to them.

However, before we hop into the 3 account promotions, let’s analyze what makes up a high value client for the likes of Citibank, Bank of America, Chase or any other large national powerhouse.

1) Someone who has or will open multiple accounts with the bank (ie. credit cards, mortgage or home loan, auto loan, etc.)

2) Someone who regularly holds a high balance in their checking account. In fact, these are the would-be customers hit by the new fees that were so badly brutalized in the media. Anyone who regularly keeps under $500 in their checking account can consider themselves a ‘low value client’ to a big bank and should probably look into a credit union or online bank. Conversely, check out how one can earn 2% cash back on their checking account by keeping more than $5k as a balance.

3) Someone who plans on keeping their retirement account(s) with the bank’s investment arm. Obviously the larger your nest egg, the more valuable of a client you are.

So…for the littler guys just looking for a no fee’s checking account with a lucrative sign-up bonus, STAY AWAY from these tempting offers, which, by the way, will immediately pop up in Google when searching for “checking account bonuses.” Don’t believe me? Give it a try!

Stay Away From…

1) Key Bank’s Checking Account Bonus. Get $150 by opening one of their many checking account packages.

What they tell you: Get $150 when you switch to Key Bank.

What you’ll also need to know: You’ll need to open one of their various checking accounts and make 60 payments and or purchases within 3 months, plus, make 3 separate $500 deposits in 3 months. However, the most important thing to notice is that ALL of their checking account packages come with “maintenance fee’s” (besides one) unless you can keep a rather hefty $10 – $100k in them. Their most basic checking package is the “Key Express Checking Account” and you’ll still need to deposit at least $500 or initiate five account transfers per statement cycle to avoid fees.

2) Citibank’s Checking Account Bonus Offer. Open one of two checking accounts and earn between $50 and $100 in bonuses.

What they tell you: Get $100 after opening a Citi Gold Checking Account or $50 from their traditional Citi Checking Account.

What you’ll also need to know: There’s no monthly service fee if you maintain a $15,000 combined average monthly balance requirement in eligible products; otherwise $20.00 monthly service fee is applied. Eligible products are linked deposits, loans, mortgages, and investment accounts.

3) Chase Checking Account. Get $125 for opening a new account by using a promo code or getting one emailed to you. Google “Chase Checking Promotion” to find the promo code.

What they tell you: Get $125 for opening a new Chase Checking Account and making one direct deposit. As a quick disclaimer, we did mention this on our list of top checking account offers in 2012, however, we provided the disclaimer that this account bonus will only be worth it if you plan on making Chase your primary bank and moving larger sums over to their bank.

What you’ll also need to know: Chase’s checking account has no monthly service fee’s for those who can either make a monthly direct deposit of $500 or more or keep a daily average balance of $1,500. If you can’t you’ll get dinged with a $12 fee. So as you can see it’s the best of the three big bank checking account promotions, but still likely not worth it for the little guy.

This year’s number one institution with the best Black Friday rewards comes from Service Credit Union out of New Hampshire. So for all you New Hampshire residents – have at it!

As for everyone else, scroll down to find the best nationwide bank deals available this Black Friday.

Service Credit Union’s Black Friday Bank Deals:

1) 3 month CD yielding 10% APY! – Here is a phenomenal savings account promotion especially for first time savers or students. It comes with a minimum deposit requirement of $250 and a maximum deposit of $1000. If you’re able to maximize the benefits of this offer by depositing $1k into this account, you’ll have earned almost $25 in just 3 months from your investment!

2) Open a Savings Plus Checking Account with Service Credit Union and set up a direct deposit and get a $150 bonus! This could end up being quite the lure for those looking to switch from big banks. The end of 2011 has been huge for credit unions with the threat of new checking account fees by some of the nation’s largest banks.

3) 1% off auto loans with Service Credit Union. Rates as low as 2.24% APR depending on credit history.

4) $25 new gift card with each new visa credit card opened with SCU.

Bank Deals (2011) Available Nationwide:

1) CitiBank Checking Accounts paying new account holders either $200 or $400 in gift cards depending on which checking account you sign up for.

2) ING Direct has a $50 sign up bonus for new online checking account holders. ING is well known for being a Black Friday specialist! With this checking account, you’ll get a very respectable interest rate on your balance, the largest network of free ATM’s, zero fees, and a cool 50 bucks!

3) EverBank has a $60 sign up bonus for new account holders, but you’ll need to maintain a minimum balance of $5,000 with this account to avoid fees. There is also an interest rate associated with this account. Get the run down here.

So, while we’re about to make note of two solid checking account bonuses from Citibank, keep in mind you’ll have to hold high balances to avoid monthly fees. (Fee Disclosure Below)

Citibank Checking Account Bonuses:

The first one is 40,000 bonus points for opening a Citigold checking account. The 40,000 “ThankYou” points can then be redeemed for $400 in gift cards. The Citigold account is considered a “premier banking relationship” product by Citibank which requires a high monthly balance to avoid a $30 monthly fee.

Open the account with the $400 gift card bonus here.

The second one is 20,000 for opening a regular Citibank checking account. As with the premium offer, the 20,000 bonus points can also be redeemed for $200 in gift cards. You’ll still need to maintain monthly minimum balance requirements to avoid a $30 monthly fee, but the balances aren’t as high as with a Citigold account.

Open the account with the $200 gift card bonus here.

Here’s what you’ll need to do to get any of the bonuses above:

1) Open a new Citibank checking account in the Citigold or Citibank Account Package by 12/31/2011.

2) Enroll the new checking account in Citi ThankYou Rewards.

3) Within 45 days after account opening, complete one direct deposit AND one electronic bill payment for two consecutive months.

CitiBank Checking Account Fees Associated with Both Packages:

The most basic checking account Citibank offers (called the “basic checking” account) features a $8 monthly fee. The account comes with no minimum balance requirements and a $0 opening deposit requirement. It’s not accompanied with any promotional rewards.

Our take: This account doesn’t really make sense, $96 in annual fees on already low balances? It looks as if Citibank is saying, “if you don’t several thousand dollars, you’re not worth our time.” If you have under $6,000 and are looking for a new checking account, there are plenty of cheaper alternatives that may actually reward you (like this one).

The mid-level package is the Citibank account package. This is the one we’ve mentioned in the promotional section above. It features a very enticing $200 in gift cards for opening the account, however, to avoid a whopping $20 monthly fee, you’ll need to keep an average balance of at least $6,000.

Our Take: While the bonus is generous, if you dip below the $6,000 mark, the fee you’ll incur is quite punishing. Incurring the fee over the course of a year ($240) will completely wipe out the gift card bonus you snagged in the first place. This account, however, could be ideal for you if you know you’ll never have an issue with the minimum balance and the occasional $2 ding for foreign ATM usage. – PS. Ignore the minimum opening requirement of just $100, there’s no reason in having this account without more than $6k.

The last account is for high value clients only. It comes with the advertised $400 bonus in the form of either “ThankYou” points or gift cards. To avoid a $30 monthly fee, you’ll need one of the following:

• $50,000 or more for all linked deposit and retirement accounts OR
• $100,000 or more across all your eligible linked Citi accounts, excluding a first mortgage with Citibank OR
• $250,000 or more if your Citibank first mortgage is included in the total relationship.

Our Take: Unless you plan on moving several asset/equity heavy accounts over to Citibank, the account’s probably not for you. If you are looking to switch banks and have assets equal or greater to the requirements listed above, 40,000 bonus points is nice perk!

The Citi® Gold/AAdvantage® World MasterCard®, from American Airlines and CitiBank, is still giving away 30,000 American Airlines bonus miles for new customers who open the card and make just $750 in purchases within the first 4 months! That’s easily enough for a round-trip domestic travel award!

Get Bonus Here!

Capitalizing on this reward requires spending less than $200/month with the card. From our experience the easiest way to make sure you’ll hit your target is to designate categorical purchases for this card in which you know how much you spend. So for example, if you know you spend $75 on coffee every month and $125 on gas, simply use this card for those purchases to ensure you’re meeting the requirements.

If you’re a frequent flyer that regularly flies with American Airlines, this card is a no brainer. If you’re simply after the up front rewards, then this card can still pay-off handsomely, however you may be better off in the long run finding a credit card that has teamed up with your favorite airline company (see below for additional airline card offers with bonuses).

Interest Rate and APR associated with Citi Gold AAdvantage World MasterCard:

The standard variable APR for purchases is slightly higher with this card (15.24% APR) then with other frequent flyer credit cards, therefor we would strongly recommend paying off your balance in full each month. Also, if you use the card for cash advances you’ll get knocked with a 25.24% APR and for any penalties you’ll receive and APR of up to 29.99% (this may be imposed if you make a late payment or make a payment that is returned).

Annual Fee:

The annual fee is $50. However, this fee is waived for the first 12 months.

Other Fees:

Minimum interest charge – $0.50. Fee for foreign purchases – 3% of each purchase transaction in US dollars. Cash advance fee – Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee – Either $5 or 3% of the amount of each transfer, whichever is greater.

Other Noteworthy Airline Credit Cards with Bonuses:

Continental Airlines OnePass® Plus Card - Credit Card from Chase Bank and Continental Airlines featuring 40,000 bonus miles, priority boarding privileges and free baggage.

Southwest Airlines Rapid Rewards® Plus Credit Card from Chase – Credit Card from Chase Bank and Southwest Airlines featuring a free flight after your first purchase as well as 3,000 bonus points every year on your anniversary.

According to this Associated Press article featured on Yahoo News, “The largest U.S. banks will be required to show regulators how they would break up and sell off their assets if they are in danger of failing.”

On top of this measure, these banks will need to rework their “wills” and send their revisions to the FDIC annually. These revisions will be kept on file and essentially treated as contracts should any of the FDIC-insured institutions begin to show signs of imminent bankruptcy in the wake of another financial crisis.

If the balance sheets and assets of the reported 126 financial institutions participating in this measure are compromised, regulators would then have the power to seize and dismantle the bank(s) that threaten the broader financial system.

Furthermore, the FDIC will also have the power to designate other financial firms as potentially threatening to the financial system and require them to submit plans.

The largest banks affected are Chase Bank, Bank of America, Citigroup and Goldman Sachs.

Attention! This offer is no longer available. Please visit our credit card center for updated promotions.

Well it seems that Citibank has one-upped themselves again. The Citi ThankYou Premier Card, which was previously running a $250 in gift card promotions, has now doubled this offer to a whopping $500 in gift cards to those who obtain the credit card and make $2000 in purchases within the first 3 months.

This is a limited time promotion from CitiBank that wont last long. When they throw out cash back or free gift card bonuses, the promotional offer tends to last between 3-4 weeks before Citi reinstates the standard rewards structure.

Here is how this promo works:

1) Apply for card and wait for approval. (You’ll need a decent credit score to be approved)

2) Receive the card and make $2,000 in expenditures within the first 3 months. ($700/month in expenditures…think gas, groceries, drugstores, etc. as Citi will also reward you with 1.2 bonus points for every dollar spent at these places.)

3) Citi will then drop 50,000 “ThankYou” bonus points into your account. (This equates to $500 in gift cards!)

Additional Features of Citi ThankYou Premier Card:

- Earn 1.2 ThankYou Points per $1 spent – that’s 20% more points – when you use your card at gas stations, supermarkets, drugstores, commuter transportation and parking merchants

- Earn 1 ThankYou Point for every $1 you spend on all other purchases.

- Pay NO foreign transaction fees on purchases

- Annual complimentary domestic companion ticket within the continental USA when you book you flight through their travel benefits provider

- No points cap or expiration.

Additional Terms and Conditions to Keep in Mind:

Be sure you take into consideration the fact that an APR of between 13.99% APR and 21.99% APR depending on your credit history. Also, if you must use the card for cash advances you’ll get slapped with an APR of 25.24% and your default APR will be a rather harsh 29.99%. A $125 annual fee will also be imposed.

Our Take:

With this promotional offer (which may only last until the end of this month) this card is one of the best rewards credit cards on the market. If you are fully capable of paying off your balance each month and NEVER use the cash advance feature the card will continually provide you with unrivaled rewards. The $125 annual fee will pale in comparison to the dollar value of the rewards you’ll stack up even by spending modestly with it.

Looking to snag a sweet airline miles credit card this month? Check out this limited time Citi Card offer – Currently, once approved for the Citi ThankYou Premier Card, you’ll be able to earn an industry best 50,000 bonus points (which adds up to $665 in airfare) after spending $2,000 in the first 3 months of opening the card. To cash in on the $665 in airfare go to the “ThankYou Travel Center” after receiving the card and meeting the requirements.

Additional Features of the Citi ThankYou Premier Credit Card:

The Citi ThankYou Premier card typically comes with around 25,000 bonus points which they drop into your account when spending somewhere between $1,000 and $2,000 in 3 months. The terms and conditions (as well as the bonus features) with this card change regularly. This 50,000 bonus point offer is the best we’ve seen from them, albeit 2011 is shaping up to be one of the most “giving” years in terms of rewards and airline miles for major credit card companies. You can compare this offer with our top airline rewards credit cards from our extensive database, or you can see how it stacks up against airline cards in our 2011 coverage of frequent flier credit cards.

Here is another fantastic limited time rewards credit card offer. From now until the end of this month if you open a Citi ThankYou Preferred Credit Card you can snag yourself $250 in gift cards after making $1000 in purchases within the first 3 months.

After opening the card and making the required amount of purchases you’ll get 26,000 ThankYou bonus points which can be redeemed for the $250 in gift cards. All of the rewards cards we’ve covered in 2011 come with these spending requirements before they release the bonus(es) to you simply to hedge against people opening cards, cashing in bonuses then closing the accounts. For many new cards offering cash, gift card or bonus miles the spending requirements are much higher – sometimes up to $2500 in 3 months. For most cards though, the average spending requirements for new applicant rewards sits somewhere between $500 and $1500 for a 3 month period.

The Citi ThankYou Preferred Card also offers 1 bonus point for every $1 you spend with no limits or expiration dates, which allows you to continue to rack up points, cash back or gift cards even after the initial bonus period is over.

Terms and Conditions:

$250 in gift cards offer: You will receive 26,000 bonus ThankYou Points after $1,000 in purchases are made with your Citi ThankYou Preferred Card within 3 months of account opening. Once these points post to your account, you may redeem for $250 in gift cards good at leading national merchants or save them to use for other rewards.

The standard variable APR for purchases for the Citi ThankYou Preferred Card is 12.99%, 16.99%, or 20.99% based on your creditworthiness. If you are approved for the Citi ThankYou Card, the standard variable APR for purchases will be 20.99%. The standard variable APR for cash advances is 25.24%. The variable Penalty APR is up to 29.99% and may be applied if you make a late payment or make a payment that is returned. Minimum interest charge — $0.50. Fee for Foreign Purchases — 3% of the U.S. dollar amount of each purchase made outside the U.S. Cash advance fee — Either $10 or 5% of the amount of each cash advance, whichever is greater. Balance transfer fee — Either $5 or 3% of the amount of each transfer, whichever is greater. New cardmembers only. Subject to credit approval. Additional limitations, terms and conditions apply. You will be given further information when you apply.

Read a full review of the Citi ThankYou Preferred Rewards Card.

Attention! The bonus on this card offer has changed to 20,000 bonus points (or $200 in gift cards).

Another exciting credit card offer came out this last week which is only available through June 30! Currently with the Citi ThankYou Premier card you’ll get an industry best 20,000 bonus points (equivalent to $200 in gift cards!) after opening the card and making $1,000 in purchases within the first 3 months. The rewards with this card currently trump all other airline rewards card available.

Apply Here!

The Citi ThankYou credit card typically comes with just 20,000 bonus points providing the same terms and conditions (see original rewards structure here). Another noteworthy benefit to this card that is typically undervalued is that it comes with no foreign transaction fees when traveling abroad. So if you’re contemplating an exotic, non-USA-summer get-away, this card could greatly reduce the costs of your travels.

Citi ThankYou Premier Card – June 2011 Limited Time Offer – Details, Terms and Conditions:

Apply Here!

Regular APR: 13.99% – 21.99%* (Variable)
Intro APR on purchases and balance transfers: N/A
Annual Fee: $125

Other Noteworthy Features of the Card

From now until the end of September earn 5% cash back on airlines, hotels and car rentals. Keep in mind, however, you’ll need to enroll to take advantage of this lucrative features. You’ll also get a full 1% cash back on other eligible purchases and cash advances. Plus, the Citi Dividend Platinum Select Card comes with no annual fee.

APR structure of Citi Dividend Platinum Select Credit Card:

The standard variable APR for purchases is either 12.99%, 16.99%, or 20.99% based on your creditworthiness, standard variable APR for cash advances — 25.24%. The variable Penalty APR is up to 29.99% and may be applied if you make a late payment or make a payment that is returned. Minimum interest charge — $0.50. Fee for Foreign Purchases — 3% of the U.S. dollar amount of each purchase made outside the U.S. Cash advance fee — Either $10 or 5% of the amount of each advance, whichever is greater. Balance transfer fee — Either $5 or 3% of the amount of each transfer, whichever is greater. New cardmembers only. Subject to credit approval. Additional limitations, terms and conditions apply. You will be given further information when you apply.

Compare this offer with other cash back credit cards we’ve reviewed in 2011 or sort through our database of cash back card offers to see how this one stacks up against the competition.