Market Share

Finally Chase has decided to compete in Minnesota.  Even those with deep points and miles knowledge in my area don’t realize that Chase has already opened a branch in Minneapolis (on the University of Minnesota campus).  That is a small branch that caters mostly to college students and don’t have any Private Client representation there, but for those interested primarily in savings and checking account bonuses, that branch does significant new client volume.  Since opening in July, the branch has opened over 2,000 new checking and savings accounts.  It’s a tiny branch from a square foot perspective, but there’s a ton of foot traffic outside its doors and the nearly continuous checking and savings bonuses keep people rushing in.

Years ago when the Chase Sapphire Reserve launched, I drove to the nearest branch in Wisconsin (3+ hours away), opened a savings and checking account, and applied in branch for the card.  It was a great day, as I walked away with around $3,000 in total benefits derived from less than an hour’s work.  Fortunately that much work didn’t have to take place for this current round of checking account bonuses.

There will be at least 3 Chase branches in the Twin Cities by the end of 2019, with 25 expected in the next 5 years.  The St. Paul (Grand Ave) branch is set to open November 5, 2019, with a St. Louis Park (West End) location soon to follow before the end of the year.

Doctorofcredit (DoC) has long been one of my favorite points and miles resources, and probably has the best list of current checking and savings account bonuses on the internet.  DoC also doesn’t give off the over the top credit card solicitation vibe that other points websites do, even though I’m sure they have all sorts of affiliate relationships.  For those new to points and miles, you can find the checking and savings page here.