Originally Posted by Ken in Phx
Gary what would be the point ot having the account at all if you just got 250 miles a month. $2,500 daily balance would yield 250 AA miles/mo. I would think someone looking to collect AA miles might want as much as 100k in that account. that would be 10k/miles a month and a free ticket biz classs after 1 yr. Am I on the correct path here. Why bother doing it if its only for 250 miles a month?
Ken in Phx
There are referral bonuses so that's worth it alone, but I still dunno... I think you have to just have money already to wanna do this.
Maybe Gary's got an extra $2500 laying around that just generates this supposedly easy mile-income and if he really needs the money he can go get it and replace with new $$?? Who knows. I do not have an extra $2500 laying around, and nor do most people I know. I mean, we assume a certain level of income, lifestyle and propensity to consume when talking mileage in here with each other, but not everyone makes the same or has the same needs. I think the basic understanding is that people have steady income from one source or another, we like to travel, and we like to leverage our money against ways to get the best returns from it. If spending also generates miles we somehow feel complete. But there are limits and I guess it depends on what one is willing to spend, risk, move or let sit in an account generating either interest or miles. If the pay off for miles is greater than the actual cash return after all things considered, we again feel like we made out. Perhaps for some who can see it more clearly, it does. I think there is a certain threashold though, and maybe I am not there yet. That, I think, is what I am trying to discover in this thread. What is needed as my "base" to even make this worth while?
Another similar example of this would be when people did that Dash to the Gate thing with Delta. It was a simpler, more clear cut instance where you laid out $150 up front and could come home with more than 30k DL miles plus status on a hotel account too. It makes sense when looking at the fact that it actually worked, but when going in, many of us were wondering if it was really going to pan out and if it was worth it. If you just sit on the miles and never use them, it would be a waste. If you do redeem, it is worth it.
Some deals require investments that can pay off later, and some happen right away. I suppose the long-run ones require a higher income and much more patience.
Anyway, with this gig, I was once offered a referral by someone and his info is saved somewhere in my yahoo mail account, so if I ever got entice to actually do this bank direct thing I would contact that person, but right now, I aint convinced yet either so far...
MM