Earlier this month I mentioned that Empower is offering $50 signup bonus. You would have to get invited via SMS which you still can get by emailing me your number at [email protected]. Alternatively, you can get 50,000 points from Drop.
At first I thought getting $50 through Empower was a better offer but then I realized that is taxable money while Drop points are likely not.
If you’re (still) not familiar with Drop, it’s essentially a rebate app with occasional big offers from signing up to various things like Empower. 50,000 Drop points can be redeemed for $50 in gift card, including Amazon.
You can join Drop by using my invite link (thanks for supporting this blog!) https://b.ewd.io/code?c=nk3q7 or using the code nk3q7
The Fine Print
Empower will notify Drop if you receive a payroll direct deposit of $500 or more within first 60 days of enrollment.
- Must be within 60 calendar days of opening of your Spending Account.
- The sign up incentive will be paid on the 1st of the month following the direct deposit (e.g, if you completed the direct deposit on 5/10/19, it will be paid by 6/1/19)
- The incentive bonus is incremental to the standard sign up boost program
- The incentive does not apply for existing or previous Empower banking customer
Although not explicitly stated, this incentive through Drop, like the regular one, should end by the end of the month.
One major concern I would have while doing this 50k offer is basically that if I were to not get the bonus I would have to bug Drop about it and they could blame Empower or vice versa. Otherwise this 50k offer might be preferred over taxable $50 offer, granted you value 50k points as cash.