Originally Posted by
Science Goy
Ditto. Closed my BankDirect AA mileage account when they started charging monthly fees, opened one of these, and never looked back. Excellent product.
I also have and use Schwab High Yield Checking but not for any significant balances. As of yesterday, it pays .10% annual yield, so $100,000 in there for a year earns you $100, which is taxable.
The same $100,000 in Bank Direct earns you 120,000 AAdavantage miles, which can be converted to a round-trip business class ticket to Europe with 20,000 miles left over. The Bank Direct fees for a year would be $144.
$100 taxable or a round-trip to Europe in business class for $144? Your choice.