ScreenGuy

I just want to make sure I have this right. I am trying to minimize my US taxable income and therefore earning miles instead of interest sounds perfect.

Let's say you deposit $100k in Bank Direct for 1 year without touching it. At the end of the year you would have earned roughly 120k miles + $50 in the checking account or 50k miles + $100 in a 1 year CD. This appears that the checking account is a much better deal as you can use your money if need be without penalty plus you earn a much higher rate.

The cost of this depends on your tax rate and what return you could get on investment with that money. However, if for the purpose of my simple example you assume you pay no taxes and compare it to a FDIC insured CD earning 2%, the maximum cost per mile is approx. 1.625 cents for the checking account? This would decrease as your tax rate increases and the CPM would increase if you could find a 'safe' investment greater than 2%.

Am I missing any hidden fees or costs associated with Bank Direct?

Also, can someone PM me a referral?

EDIT: Referral no longer needed