Originally Posted by acf573
He/she also has the mileage amount wrong for the money market account. It's 1 mile for every $10 annually. But credited monthly. Which turns into 1 mile for every $120 monthly. In fact, they cover the $50k example explicitly in the prospectus and say it earns 417 miles per month (page 28):
http://www.aafunds.com/pdfs/mileagepros.pdf
That is correct. 417 miles per month with $50k investment (this will go up minimally as the account appreciates throughout the year) per month. I am not sure 3% APR and 5k miles justifies an investment. I rather get the 20k *wood points, convert them to 25k miles and then invest in something else. I like the thought process there.
What I would do is invest the $50k in Ameritrade for *wood points. Then after the 2nd bonus hits from SPG transfer the account to Fidelity for additional miles.
If someone was really aggressive they could try to get the bonus through TD Waterhouse right now. Then when they merge with Ameritrade transfer the account to Fidelity for a bonus and then transfer the account to Ameritrade for another bonus. It would take about 16 months for all the miles to hit but when all is said and done you would have about 75k miles. Not too bad.