FlyerTalk Forums - View Single Post - Miles For Banking
Thread: Miles For Banking
View Single Post
Old May 20, 2005 | 7:43 pm
  #78  
pgary
Original Member
10 Countries Visited
20 Countries Visited
30 Countries Visited
All eyes on you!
 
Join Date: May 1998
Posts: 2,513
Originally Posted by Ken in Phx
Can someone tell me the benfit of using BankDirect? If I have 10k to invest in a MMA Bank Direct shows that their rate is .75%. INGDirect has a 3.0% rate.

Bank Direct
I would get (10k x .75% ) or $6.25/ month + 1,000 AA miles/mo

INGDirect
I would get (10k x 3%) or $25/ month + no miles

So the miles cost me .01875/mile? Is that a deal for AA miles?


Thx
Ken in Phx
I show you the math on my writeup of the deal in the Banking Section of the Finance page of my website, Free Frequent Flyer Miles. First coment: You would never invest $10,000 in BankDirect. You would stay near the minimum of $2,500.
pgary is offline  
Reply