Apr 8, 2021, 10:27 am
Last edit by: funnyfarm299
Miles usually post on Bask website on the second business day of the month, to AA a day or 2 later.
Check the "Rewards" section of your Bask dashboard or the Recent Activity section of your AA account.
Current earn rate as of June 2023: 2.5 miles/dollar/year, awarded monthly (no LP's).
Check the "Rewards" section of your Bask dashboard or the Recent Activity section of your AA account.
Current earn rate as of June 2023: 2.5 miles/dollar/year, awarded monthly (no LP's).
Questions on BankDirect, now Bask Bank (consolidated)
Jun 22, 2022, 11:39 am
#2371
Join Date: May 2008
Location: PHL (kinda, no airport is really close)
Programs: AA Exp, but not sure for how long. Enterprise Platinum woo-hoo!
Posts: 4,550
I was wondering too, but I think the 1.50% was far above their competitors, so maybe they were anticipating the Fed's increase. I don't know what it was a month or two ago.
It won't surprise me if they start paying (lower) interest on the miles accounts, but it won't surprise me if they don't either. Say the market leaders go to 2.50% on savings and Bask goes to 3%. On the one hand, customers who would take miles at the current rate when the cash savings account was paying 0.5% or so might prefer cash at 3%. On the other hand, many customers who have a miles account might just leave it untouched.
I opened an interest savings account and put a small portion of my Bask balance into it. I'm retired and need to withdraw from my savings to live, and I have the money I need for that purpose in Bask right now, and that should last me about 18 months, so I'm hoping to not have to liquidate any equities until the market recovers. I'm sure it will. Of course I don't know when.
It won't surprise me if they start paying (lower) interest on the miles accounts, but it won't surprise me if they don't either. Say the market leaders go to 2.50% on savings and Bask goes to 3%. On the one hand, customers who would take miles at the current rate when the cash savings account was paying 0.5% or so might prefer cash at 3%. On the other hand, many customers who have a miles account might just leave it untouched.
I opened an interest savings account and put a small portion of my Bask balance into it. I'm retired and need to withdraw from my savings to live, and I have the money I need for that purpose in Bask right now, and that should last me about 18 months, so I'm hoping to not have to liquidate any equities until the market recovers. I'm sure it will. Of course I don't know when.
Jun 22, 2022, 12:21 pm
#2372
FlyerTalk Evangelist
Join Date: Dec 2003
Location: Not here; there!
Programs: AA Lifetime Gold
Posts: 29,537
I opened an interest savings account and put a small portion of my Bask balance into it. I'm retired and need to withdraw from my savings to live, and I have the money I need for that purpose in Bask right now, and that should last me about 18 months, so I'm hoping to not have to liquidate any equities until the market recovers.
Jun 22, 2022, 12:31 pm
#2373
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
Bask is paying to be Featured on Bankrate.com. 1.61% puts them at the top of the Featured list, and 0.10 above the highest rate in the Show More > Additional Offers listing of banks which do not pay to be listed. If this is an important part of their marketing plan I expect they will tweak the rate based on competition, rather than action by the Fed, until they attract the amount of deposits they can profitably lend.
Jun 22, 2022, 2:23 pm
#2374
Join Date: May 2008
Location: PHL (kinda, no airport is really close)
Programs: AA Exp, but not sure for how long. Enterprise Platinum woo-hoo!
Posts: 4,550
I only did a week or two ago.
Jun 22, 2022, 7:23 pm
#2377
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
Jul 20, 2022, 1:41 pm
#2380
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,952
Jul 20, 2022, 1:52 pm
#2382
FlyerTalk Evangelist
Join Date: Dec 2003
Location: Not here; there!
Programs: AA Lifetime Gold
Posts: 29,537
Also, remember that if you earn 2% cash interest, you will pay income tax on that full 2%. If you receive miles instead, BB will issue a 1099-INT on which the miles are valued at just 0.42˘ apiece for income-tax purposes.
Jul 20, 2022, 2:02 pm
#2383
Join Date: Aug 2002
Location: WAS/TYO
Programs: UA 1K, AA EXP (3MM), DL PM, BONVOY TITANIUM, HYATT GLOBALIST, HILTON DIAMOND, IHG DIAMOND AMB, et al
Posts: 5,912
-FlyerBeek
Jul 20, 2022, 4:07 pm
#2385
Join Date: Jan 2014
Location: Dallas, TX
Programs: AA EXP, Hilton Gold, Marriott Silver
Posts: 169
State Bank of Texas is offering 2.5% APR for 12-month CD (minimum $25K)
https://statebnk.com/personal-bankin...te-of-deposit/
https://statebnk.com/personal-bankin...te-of-deposit/