25,000 American Airlines Miles via Fidelity
Feb 23, 2010, 3:31 pm
#16
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
Thanks - this is very interesting. We already have most of our money with Fidelity spread over multiple accounts, but I'm not sure if our assets are sizeable enough. Would you care to venture a guess as to how much is required: $250K+, $500K+, $1M+, etc. (I understand if you don't want to answer this question).
Do a search in AA forum you may be able to unearth the related threads.
Feb 23, 2010, 8:51 pm
#17
Join Date: Jan 2010
Programs: Food Lion MVP
Posts: 114
it's pretty simple. Fidelity system will count all of youincoming cash over 90 days, it will not look at out going cash. So deposit $10k, move it out, move it back in, repeat 5 times. Some people recommend to do this and leave about $50 in the account, so it is not at $0. Therefore, if you don't have $50k to park there, then you can do it in smaller bits, just need to make sure you get $50k in aggragate moved into Fidelity w/n 90 days of openning it. This loophole may still exist, I have no clue, but it is worth exploring and reposting back if you can get 25,000 miles. Best of luck.
This will not work with TD Ameritrade as you need to "mantain" a balance of $10k over X months. With Fidelity offer there is no "mantain" language.
PedroNY
This will not work with TD Ameritrade as you need to "mantain" a balance of $10k over X months. With Fidelity offer there is no "mantain" language.
PedroNY
Thanks for your help, was not interested in leaving 50k in fidelity for several months so the loophole option sounds great.
Feb 24, 2010, 3:53 am
#18
Join Date: Oct 2009
Location: Las Vegas
Programs: AA,CO,US, and SPG Gold (just like everyone else :P)
Posts: 117
Thanks Pedro, happy posts above that the miles posted for the promotion about two weeks after new funds showed up in account. So how exactly do the funds post when you are doing the 10k in / 10k out loophole within 90 days? Do 10k miles post, then after 90 days the other 15k post?
Thanks for your help, was not interested in leaving 50k in fidelity for several months so the loophole option sounds great.
Thanks for your help, was not interested in leaving 50k in fidelity for several months so the loophole option sounds great.
Feb 24, 2010, 6:57 pm
#19
Join Date: Nov 2009
Location: Chicago
Posts: 67
I was just going through the T & C on the link from the OP and saw this:
"Your Fidelity account must remain open with the qualifying funding for six months from the date that the qualifying assets are first received in the eligible account. "
Based on some of the previous posts this was not always the case. Is this something that changed recently???
Here is the whole thing:
*Promotional Offer Rules:
Fidelity Investments is making this promotional offer available to certain individuals who open a retail Fidelity brokerage account and who meet the following eligibility requirements. This offer expires May 31, 2010 and is not transferable or valid in conjunction with any other Fidelity promotional offer. Fidelity Investments reserves the right to modify, change or alter the terms and conditions of the promotional offer in its sole discretion at any time. Fidelity Investments may terminate this promotional offer at any time.
Only prospective customers who currently do not have a Fidelity retail account are eligible. This promotional offer is limited to one per household and per lifetime of the individual(s) named on the Fidelity account. Only individual or joint Fidelity Accounts, personal trust accounts and business accounts are eligible. The promotion is not available for retirement accounts including, among others, Fidelity IRA, Roth IRA, SEP and SIMPLE accounts; 401(k) and 403(b) workplace retirement plans; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; 529 college savings plan accounts; annuities; Fidelity accounts managed by Strategic Advisers, Inc.; and clients of registered investment advisors working with Fidelity Investments. Non-U.S. residents, and persons affiliated with FINRA, or employees of Fidelity, its affiliates, and members of their immediate families and households, are ineligible.
Other terms and conditions may apply.
Transferred assets will be valued, for the purposes of determining eligibility for this promotional offer, at the close of business Eastern Time on the business day or next business day, if on a weekend day or holiday, following receipt by Fidelity Investments of the assets into the account that is eligible for the promotional offer. Your Fidelity account must remain open with the qualifying funding for six months from the date that the qualifying assets are first received in the eligible account.
New accounts must be opened within 30 days of registering for the offer. Additional deposits to the eligible Fidelity account may earn you a higher mileage award provided such deposits result in the cumulative deposits in the account being at or above the next eligibility tier (up to a maximum of 25,000 miles). Initial and subsequent deposits must be made within 90 days of Fidelity account opening.
Fidelity Investments and American Airlines are not affiliated.
Fidelity Brokerage Services LLC, Member NYSE/SIPC
Please allow eight weeks from the opening and funding of the eligible account, with the qualifying dollar amount of assets, for American Airlines AAdvantage® miles to be credited to your AAdvantage® account.
American Airlines reserves the right to change AAdvantage® program rules, regulations, travel awards and special offers at any time without notice, and to end the AAdvantage® program with six months notice. Any such changes may affect your ability to use the awards or mileage credits that you have accumulated. American Airlines, it's subsidiaries, affiliates and/or partners are not responsible for products or services offered by other participating companies. For complete details about the AAdvantage® program, visit www.aa.com/aadvantage.
Taxes and fees related to award travel are the responsibility of the passenger.
American Airlines, AAdvantage and AAdvantage with Scissor Eagle design are the registered trademarks of American Airlines, Inc.
"Your Fidelity account must remain open with the qualifying funding for six months from the date that the qualifying assets are first received in the eligible account. "
Based on some of the previous posts this was not always the case. Is this something that changed recently???
Here is the whole thing:
*Promotional Offer Rules:
Fidelity Investments is making this promotional offer available to certain individuals who open a retail Fidelity brokerage account and who meet the following eligibility requirements. This offer expires May 31, 2010 and is not transferable or valid in conjunction with any other Fidelity promotional offer. Fidelity Investments reserves the right to modify, change or alter the terms and conditions of the promotional offer in its sole discretion at any time. Fidelity Investments may terminate this promotional offer at any time.
Only prospective customers who currently do not have a Fidelity retail account are eligible. This promotional offer is limited to one per household and per lifetime of the individual(s) named on the Fidelity account. Only individual or joint Fidelity Accounts, personal trust accounts and business accounts are eligible. The promotion is not available for retirement accounts including, among others, Fidelity IRA, Roth IRA, SEP and SIMPLE accounts; 401(k) and 403(b) workplace retirement plans; fiduciary accounts (including custodial accounts, estate accounts); college investment trust accounts; 529 college savings plan accounts; annuities; Fidelity accounts managed by Strategic Advisers, Inc.; and clients of registered investment advisors working with Fidelity Investments. Non-U.S. residents, and persons affiliated with FINRA, or employees of Fidelity, its affiliates, and members of their immediate families and households, are ineligible.
Other terms and conditions may apply.
Transferred assets will be valued, for the purposes of determining eligibility for this promotional offer, at the close of business Eastern Time on the business day or next business day, if on a weekend day or holiday, following receipt by Fidelity Investments of the assets into the account that is eligible for the promotional offer. Your Fidelity account must remain open with the qualifying funding for six months from the date that the qualifying assets are first received in the eligible account.
New accounts must be opened within 30 days of registering for the offer. Additional deposits to the eligible Fidelity account may earn you a higher mileage award provided such deposits result in the cumulative deposits in the account being at or above the next eligibility tier (up to a maximum of 25,000 miles). Initial and subsequent deposits must be made within 90 days of Fidelity account opening.
Fidelity Investments and American Airlines are not affiliated.
Fidelity Brokerage Services LLC, Member NYSE/SIPC
Please allow eight weeks from the opening and funding of the eligible account, with the qualifying dollar amount of assets, for American Airlines AAdvantage® miles to be credited to your AAdvantage® account.
American Airlines reserves the right to change AAdvantage® program rules, regulations, travel awards and special offers at any time without notice, and to end the AAdvantage® program with six months notice. Any such changes may affect your ability to use the awards or mileage credits that you have accumulated. American Airlines, it's subsidiaries, affiliates and/or partners are not responsible for products or services offered by other participating companies. For complete details about the AAdvantage® program, visit www.aa.com/aadvantage.
Taxes and fees related to award travel are the responsibility of the passenger.
American Airlines, AAdvantage and AAdvantage with Scissor Eagle design are the registered trademarks of American Airlines, Inc.
Feb 24, 2010, 6:59 pm
#20
Join Date: Nov 2009
Location: LGA
Programs: HHonors Diamond, AA PLT
Posts: 195
I'm Kinda disappointed in Fidelity. I opened an IRA with them (which is ineligible for the 25K miles) in late 2008 and asked if I could open another account and get the miles since the first wasn't eligible and I might as well be a new customer. The answer was no.
Feb 24, 2010, 9:19 pm
#21
Join Date: May 2009
Location: USA
Programs: UAL 1MM, Marriott Plat, Hyatt Globalist, AA 3MM
Posts: 831
Not my experience. I had a retirement account then opened the regular brokerage account under the above offer. The 10k and 15k miles posted within 2 weeks of funding for a total of 25k points. I then drained the account down to $500 dollars. About 8 weeks later I rolled over another retirement account so I have >$400k in my active retirement account. Also move the companies retirement program to Fidelity.
Then I repeated the same for a family member at the same adddress.
Miles posted to both accounts and remain there. Funded by EFT.
Then I repeated the same for a family member at the same adddress.
Miles posted to both accounts and remain there. Funded by EFT.
Feb 24, 2010, 10:10 pm
#22
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
Not my experience. I had a retirement account then opened the regular brokerage account under the above offer. The 10k and 15k miles posted within 2 weeks of funding for a total of 25k points. I then drained the account down to $500 dollars. About 8 weeks later I rolled over another retirement account so I have >$400k in my active retirement account. Also move the companies retirement program to Fidelity.
Then I repeated the same for a family member at the same adddress.
Miles posted to both accounts and remain there. Funded by EFT.
Then I repeated the same for a family member at the same adddress.
Miles posted to both accounts and remain there. Funded by EFT.
When you have individual accounts put under a household account sham, then Fido starts to get picky about each individual account earning incentives because assets can be combined in value in a household account to be used for thresholds to gain other bennies.
Mar 2, 2010, 1:06 pm
#23
Join Date: Dec 2009
Location: Los Angeles
Programs: Hyatt, Hilton, Marriott // WN, AA, BA, UA, AS // Avis
Posts: 1,314
Let me just say thank you to this thread (and specifically NSR) which mentioned the 25,000 points from Fidelity for AMEX MR !!!
I had opened several Fidelity accounts early last year. Never knew about this offer, and I didnt get any sort of special sign up incentives or bonus, even though I have roughly $175,000 with them.
I called Fidelity today to tell them that no one had ever offered this 25,000 point offer to me, and they immediately said they would take care of it.
I'm expecting to receive a confirmation email within 48 hours, and the points should post to my AMEX MR account soon thereafter.
Thanks! This is like 25,000 free points for me, just for being a member of FT!! I love this place.
I had opened several Fidelity accounts early last year. Never knew about this offer, and I didnt get any sort of special sign up incentives or bonus, even though I have roughly $175,000 with them.
I called Fidelity today to tell them that no one had ever offered this 25,000 point offer to me, and they immediately said they would take care of it.
I'm expecting to receive a confirmation email within 48 hours, and the points should post to my AMEX MR account soon thereafter.
Thanks! This is like 25,000 free points for me, just for being a member of FT!! I love this place.
Mar 2, 2010, 3:00 pm
#24
Join Date: Mar 2004
Location: boston, ma, usa
Posts: 220
I just opened the account but am waiting a few days before funding it with the $10,000 to gain the 15,000 AA miles (waiting for an online bank transfer to clear). Will this impact it at all. Do you need to fund the account immediately upon opening it?
Mar 3, 2010, 2:58 am
#25
Join Date: Oct 2009
Location: Las Vegas
Programs: AA,CO,US, and SPG Gold (just like everyone else :P)
Posts: 117
you have a certain time period from opening...like 60 or 90 days
Mar 3, 2010, 9:12 am
#26
Join Date: Jun 2006
Posts: 795
You have 90 days. Doesn't matter whether you fund it initially or later. My 15K AA was just deposited in a week.
Mar 3, 2010, 10:05 am
#28
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
The T&C said at the time, it is a "Life-Time" one-time bonus for each Household.
Given the current competition, Fido may be more accommodating than in the past though. However you probably may still need to open an Individual account instead of double dipping.
Mar 3, 2010, 3:36 pm
#29
Join Date: Feb 2009
Posts: 6,605
That you can only receive the bonus from ONE airline, not each airline.
It must be new account, and for one time only. Although if you have sizable assets at Fidelity, you can get an exception for it. That can only be accomplished by calling, and if Fidelity agrees to make the exception, the rep would give you specific instructions on how to proceed. For new account you just need to follow the website instructions.
The best bang for the bucks is the $10,000 investment that gets 15K miles, imo.
Fidelity closed the loophole for both $100 cash bonus AND bonus miles. If this is the loophole you allude to.
It must be new account, and for one time only. Although if you have sizable assets at Fidelity, you can get an exception for it. That can only be accomplished by calling, and if Fidelity agrees to make the exception, the rep would give you specific instructions on how to proceed. For new account you just need to follow the website instructions.
The best bang for the bucks is the $10,000 investment that gets 15K miles, imo.
Fidelity closed the loophole for both $100 cash bonus AND bonus miles. If this is the loophole you allude to.
So would 234K in a 401k be considered a sizeable asset with fidelity. I called on this last year and they said becaus I ahd a 401K I wasn't a new customer
Mar 3, 2010, 3:37 pm
#30
Join Date: Aug 2004
Posts: 514
Thanks, Happy!
Thanks, Happy for the reply.
Both my spouse and I already hv individual acct with Fido via UA. Can we still open another individual acct via AA and get AA miles?
Thanks!
Both my spouse and I already hv individual acct with Fido via UA. Can we still open another individual acct via AA and get AA miles?
Thanks!Not in our case. However someone in AA forum posted months ago he opened another INDIVIDUAL account for himself and eventually got the miles on that account, but not without a lengthy fight.
The T&C said at the time, it is a "Life-Time" one-time bonus for each Household.
Given the current competition, Fido may be more accommodating than in the past though. However you probably may still need to open an Individual account instead of double dipping.
The T&C said at the time, it is a "Life-Time" one-time bonus for each Household.
Given the current competition, Fido may be more accommodating than in the past though. However you probably may still need to open an Individual account instead of double dipping.