Originally Posted by ENIAC
Just do it with Ameritrade to earn SPG Starpoints. You'll get 10,000 for a $10K account and 20,000 for a $25K account. Then transfer them to miles. The usual rate is 1:1, but you can get a 5K bonus if you transfer 20K points.(They're worth more as starpoints, so unless you have an immediate need why rush to transfer...)
Everyone considering opening an Ameritrade account to get Starpoints needs to know that Ameritrade has begun "revolking" and REMOVING starpoints from Starwoods accounts. I know of SEVERAL situations (family and friends) where Ameritrade credited the first 10,000 Starpoints (based on opening a $25,000 new account), the account was funded, actively traded, no money or securites were removed from the account, AND THEN up to 5 months later Ameritrade had Starwoods REMOVE the 10,000 points. This was done without warning and without any justification. They steadfastly refuse to put back the 10,000 points, let alone credit the second 10,000 points. The net effect was that Ameritrade got new business for nothing, and the new Ameritrade client got nothing for their new account.
Just be warned, opening an Ameritrade account to get Starpoints may well be for naught.