I have $$ at Emigrant.com earning a measily 1% on an annual basis. Let's say I have $100k, this would give me $1000 in interest earned per year. If I switch to Bankdirect AA money market (greater than 10k), i would get .10% interest, which at $100k will give me $100 of interest earned for the year. However, it would get me 2000 miles per month or 24,000 points per year. For the miles though, I lose $900 in interest earned... with this example $900 for 24,000 points does not seem worth it to me. THe cheapest ticket with points on AA is 25,000 points, which would not be worth $900.

Am I thinking about this right?