Well this was in the Dallas Morning News this am.

Open a new Chase Business Checking and Money Market account and deposit $20k and recieve 25k Continental OnePass miles (combined balances). Add another$10k and double your miles to 50k.

The fine print:
The account must be maintained for 3 months min.
The total combined deposit must be split between accounts (min in Money Market account $1k/$1.5k.
Miles will be deposited in your FF account 30-45 days after the third month.

1-800-CHASE24
They said the monthly fee for the biz account is $15/month and the MM account pays appx 3.1% apr

Sounds good to me!

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AA..just plain old Platinum
AOL Instant Messenger# bobcharlap
[email protected]

Forgive my ignorance, but must the $ be EVENLY SPLIT between accounts? If not, what is the APR for the Business Checking Account (I assume it is different since you mention split between accounts).

If so, what is the minimum that must be maintained in the Business Checking account, as I assume it is lower than the Money Market.

Finally, what happens if you keep your money in after 3 mos? If you keep it another 3 mos do you again get another 50,000 miles??

Thanx for the heads up and whatever other info you can supply!

Doc, it reads if you go for the 25k miles you must put a min of $1k in the MM account of the $20k amount and $1.5k of the $30k for the 50k miles deal. After the 90 days I will return my $30k to my Wells Fargo account that pays me a better rate!
Hope that helps.

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AA..just plain old Platinum
AOL Instant Messenger# bobcharlap
[email protected]

The 50K deal is one per person!

What does an individual need to open a "business" account?

Info from Chase's website,
http://www.chase.com/chase/gx.cgi/FT...siness/bluesky

The only information I could find on their site re. requirements are that a higher balance is required for business checking accounts. There may well be other requirements such as TaxID but I imagine as a "small business" of one employee - yourself- wouldn't you just be able to use your own SSN? Here is the info on the 50,000 mile offer from Chase:

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Now you can get up to 50,000 Continental OnePass� miles when you open a Business Account with Chase.

Here's how it works. Simply open a Chase Business Checking account and Money Market account. Deposit $20,000 and get your 25,000 miles. Get an additional 25,000 miles when you deposit only $10,000 more.

The Small Business Team at Chase is a dedicated team of experts committed to taking your small business to new heights - in this case, about 30,000 feet.

For more information on how to apply - and collect your reward - visit any Chase branch or call 1-800-CHASE24.


To qualify, funds must be drawn from a source other than Chase. Combined average monthly balance of at least $20,000 with at least $1,000 in the Money Market account for 25,000 miles (combined average monthly balance of at least $30,000 with at least $1,500 in the Money Market account for 50,000 miles) must be maintained for each of the first three calendar months after month in which the accounts are opened. Miles will be awarded 30-45 days after the end of the third calendar month. Miles will be awarded to an individual Continent OnePass Account holder, not the business entity. Value of miles will be reported as interest on the Money Market account. Promotional offer is also available to current Chase Small Business customers. Offer may be modified or canceled at any time. Chase Manhattan Bank. Member FDIC.

****** end of Chase propaganda **************

What does this mean:
Value of miles will be reported as interest on the Money Market account.

That most likely means that you'll have to pay taxes on the value of miles Chase assigns.

I went after this deal last November. I have a DBA business and opened a new business checking and a money market account. The person helping me had me deposit $500 into the checking and $29,500 in the MMA, to maximize the money and interest in the MMA account, currently at 3.31%. It's a one-time deal. The two accounts must have a total balance of $30k in for 3 consecutive months to receive the 50k points.
I plan on withdrawing the money as soon as I see my 50k points in my OnePass account. The interest rate is the reason why I'm pulling the money. I might go after BankDirect's CD offer for some AA points.

For UserMark:

Run down to your county office and start a proprietorship business, known as DBA. Cost varies but is minimal, $70 or so, and takes about an hour. You might have to go get a tax license also. You'll need a valid business address, could be your home address. Take the legal documents for your DBA to a Chase branch and open the two accounts.

It means you can forget this offer! They are likely to value the miles for at least 2.0 cents each, if not more, and thus you will be required to pay tax on that. If you deposit $30K for the 50K miles, you will likely be taxed on $1000!

Depends on what you do with the 50k points. I use mine for international upgrades or upgrades to Hawaii. I also use my points to upgrade my wife's coach tickets to FC when she flies on business domestically. That's 40k points used, worth $$s, but oh boy do I reap the rewards when she comes home

Check with your CPA about the $1k, it might be deductible.

See also:
http://www.flyertalk.com/forum/Forum1/HTML/003718.html
http://www.flyertalk.com/forum/Forum20/HTML/001405.html

This was exactly my thought.

Two items make this a "must pass:"

1. Paying taxes on the FF miles awarded and,
2. Earning 3.xx% vs. 6+% most money markets are paying presently.

On $30,000, a difference of 3% for 90 days is around $222. Add in the taxes of around $400 on the $1,000 worth of miles, and this is costing about 1.25 cents per mile.