PenFed is offering a checking account bonus where you can earn up to $300! The catch? You need to deposit and maintain a pretty hefty balance ($20,000) in a new checking account through January 31, 2026. If you keep $15,000 in the account, you'll earn a $225 bonus. The offer is targeted, technically, but some users have had luck seeing it when logged in. So, is it worth it? The bonus works out to about a 4.5% APY (annual percentage yield) on the $20,000 if you hit the $300 reward, but the Doctor of Credit team doesn't think this makes it competitive enough for their "best bank bonus" page, as it only keeps pace with the best savings rates. This matters to you, awardtrail reader, because you could likely get more rewards with less hassle elsewhere. If you have the cash sitting around and don't mind the lockup period, it's not a *bad* deal, but there are likely better options out there for maximizing your travel rewards. Also, remember bank bonuses are taxable, so factor that in.