Originally Posted by
schistosomiasis
At 1.5 cents a mile, this is still worth 2% to me: 60000 miles is $900, subtract $144 in monthly fees (until account dormant), as well as 1099 for $252 at 33% bracket is another $84; $228 total deducted from $900 is $672 post tax, which would be $1008 pretax. 1000/50000 is 2%.
Can someone enlighten me or tell me which post to look at for Bask bank earning rates and opening bonuses? I carefully read the posts above and can't quite figure it out. My understanding is you can keep up to $250,000 FDIC insured in this account (or $200,000 plus $50,0000 already in Bank Direct?). And there is no monthly fee but there is a 5000 mile open bonus? The earning rates are slightly lower than Bank Direct? Thanks in advance.
It’s 1,000 miles per $1,000 per year now, slightly less than with BD checking.
There’s also a 20k bonus for keeping $50,000 in for a year I haven’t seen mentioned here. FDIC limit would be shared between BD and Bask as they are both Texas Capital Bank.
I ran some math and have more details on the bonuses in this
post.