Newest Salem Five Direct Promotions: Best Offers, Coupons and Bonuses August 2020
Salem Five Direct Bank is the online division of the bank headquartered in Salem, Massachusetts. Although the bank provides banking services to the greater Boston area via 36 branches, the online banking division expands its reach.
A GOBankingRates survey found that most respondents choose their bank according to conveniences, such as local branch availability or where friends or families already bank. But not looking at other factors, such as bank promotions and sign-up cash bonuses, means many people are missing out on free cash just for switching banks. If you’re considering switching banks, take a look at the latest Salem Five Direct Bank promotions and how you can qualify for the bonuses.
Salem Five Direct Bank Promotions at a Glance
The best Salem Five Direct Bank promotions for August 2020 are related to its Visa and American Express credit cards. No Salem Five Direct coupons are needed to qualify for these offers.
| Best Salem Five Direct Bank Promotions: August 2020 | ||
| Account | Cash Value of Bonus | Expiration Date |
| Salem Five Visa Signature Real Rewards Credit Card | $25 | None |
| Salem Five Visa Signature College Real Rewards Credit Card | $25 | None |
| Salem Five Premier Rewards American Express Credit Card | $199 | None |
Current Salem Five Direct Bank Promotions
To earn the current Salem Five Direct Bank promotions, you’ll need to meet certain requirements. Here’s everything you need to know:
Salem Five Visa Signature Real Rewards Credit Card: $25 Bonus
If you’re approved for the Real Rewards credit card, you’ll earn 1.5 points monthly for every $1 you spend. Redeem the points for cash, merchandise, travel or by applying the points towards your credit card balance due. Salem Five will award you with 2,500 bonus points as a new account cash bonus, worth $25. Here are the details:
- Cash value: $25
- Minimum deposit to qualify: N/A
- Expiration date: None
- How to get it: Get approved for the card and make a purchase.
- When you’ll get it: Six to eight weeks after your first purchase
- Terms and conditions: Approval subject to credit check
- Monthly fees: No annual fee
- Promotion page: Salem Five Visa Signature Real Rewards credit card bonus offer
Salem Five Visa Signature College Real Rewards Credit Card: $25 Bonus
College students can qualify for Salem Five Bank’s College Real Rewards card. Similar to the Real Rewards Visa, all eligible purchases earn 1.5 points for every dollar spent, which can be redeemed for cash, merchandise or travel. Once you’re approved, you’ll get 2,500 bonus points as a new account cash bonus, worth $25, if you follow certain requirements:
- Cash value: $25
- Minimum deposit to qualify: N/A
- Expiration date: None
- How to get it: Get approved for the card and make a purchase.
- When you’ll get it: Six to eight weeks after your first purchase
- Terms and conditions: You must be 18 years or older and have a Social Security number to apply.
- Monthly fees: No annual fee
- Promotion page: Salem Five Visa Signature College Real Rewards credit card bonus offer
Salem Five Premier Rewards American Express Credit Card: $199 Bonus
The Premier Rewards American Express credit card is Salem Five’s top rewards credit card. Speed up your earnings with higher rewards: quadruple points for restaurant spending, triple points for airlines, double points for gas and 1 point for all other spending categories. Plus, the first year’s annual fee of $99 is waived, and you’ll receive 10,000 bonus points worth $100. Here’s how:
- Cash value: $199
- Minimum deposit to qualify: N/A
- Expiration date: None
- How to get it: Apply for the card, get approved and make at least $1,000 in purchases within the first three months.
- When you’ll get it: Six to eight weeks after your first purchase
- Terms and conditions: To receive the points as cash, you must request the funds to be transferred into your Salem Five Direct bank account within seven business days of the bonus points award.
- Monthly fees: $99 annual fee
- Promotion page: Salem Five Premier Rewards American Express credit card bonus offer
Opening a Salem Five Direct Bank Account
You can open a Salem Five Direct Bank online as long as you’re a U.S. citizen or have a green card. You’ll also need to upload a photo of your ID. Here’s what else you need to apply:
- A U.S. driver’s license, passport, state ID or green card
- Social Security number
- Contact information, including an email address to set up your online banking login
- External bank’s account number and routing number to set up a funds transfer
How Can I Qualify for the Salem Five Direct Bank Promotions?
To qualify for August’s Salem Five Direct bank promotions, you’ll need to have good credit. When you apply for a credit card, the card issuer will review your credit file to make a decision. Before applying for a card, you may want to consider these ways to improve your credit score. For example, it’s a good idea to order your free annual credit report and review it to make sure there are no mistakes that may affect your FICO score.
Information on promotions is accurate as of July 28, 2020. Additional requirements may apply. Offers and terms are subject to change.
This content is not provided by Salem Five Direct. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Salem Five Direct.
