Originally Posted by
fest
Wirelessly posted (palm: Mozilla/4.0 (compatible; MSIE 6.0; Windows CE; IEMobile 8.12; MSIEMobile 6.0) Sprint Treo850e)
do people realize that this bankdirect promo is not that amazing after all.because your interest will be close to nothing.and if you value your aa miles at .015/mile it comes out to about 1.7 percent because its
1200 per 1k for a year but i guess to each his own
You would be lucky to get 1.7% interest per year at a liquid checking account.
Some may find close to that in a Credit Union Money Market Account which limit 6 withdrawals a month, of which only 3 of them can be a check.
Besides, interest is subj to tax, miles are not, as pointed out by mia.
It also depends on how you redeem your AA miles. We only use miles for international longhaul J, which even at the "cheaper" valuation of OW award, often comes to 0.04 to 0.06 cpm for our travel pattern, which tends to have many stopovers on a single itinerary, and involves 4 or more airlines.
The more important concern actually is the soundness of Bankdirect. Eventhough the current FDIC amount is 250K, you may encounter some temporary inconvenience should Bankdirect go under.