Originally Posted by
gabek
I agree, but if you already have it set up and use the account for cash/checking, then it's not a real burden. If you are paying monthly fees, it offsets the engagement bonus, so they do not send a 1099 for that. Either way, I agree it can be too much work for the benefit. I would not sign up a new account today, but plan to keep using it since I set it up a few years ago and use the account for daily banking.
I also wouldn't setup if I was doing everything for the first time in today's climate, but I set everything up in 2021 and received my 3rd engagement bonus, $695.00, last week. The MS Cash Plus account offers free credit monitoring and free wire transfers, among other things, so, while there is some opportunity cost, it's worth it for me.
I've never had the vanilla Platinum, so I could definitely apply for that in the future, but the MS Platinum offers 1 cent per point cashback and free authorized user, and I'm not ready to burn another 5/24 slot applying for a new account.
The Cash Plus account has $700+, enough to pay $55 per month till next year, so I'm completely hands off. Just deciding if I should liquidate my Access Investing account, though it's been on an uptick recently.