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)
Oct 5, 2022, 4:07 pm
#2431
Join Date: Oct 2021
Location: TX
Programs: Alaska, AA, Marriott
Posts: 943
Based on my spreadsheet, mine was 1.1212. Interesting mistake, with it supposed to be 1.2 but actually (erroneously) being 1.12 or 1.1212. I just called, twice, unfortunately got newbies who were relatively clueless, asked to speak with a supervisor. Hold for 2 minutes, was told that Ms. Xxxxx (who I’ve spoken with several times in the past and who helped me with waiving a wire fee when Bask first started wire fees) would call me back, I’ll repost here with what she tells me.
Thank you for your message. Our team is aware of the incorrect positing of mile for the month of October and we are actively working to resolve this issue. Once the posting of miles are corrected you will receive notification.
Oct 8, 2022, 2:06 pm
#2432
Join Date: Oct 2021
Location: TX
Programs: Alaska, AA, Marriott
Posts: 943
Corrected today
The incorrect mileage deposit was removed and a correct one added yesterday, it seems. That’s reflected in my Bask account and in my AA account.
No communication from them on the correction but the math is right.
No communication from them on the correction but the math is right.
Oct 15, 2022, 12:06 am
#2436
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
There are plenty of places to get equivalent or better yields. Of course there are many banks that still have very low savings account rates, and really don't give a hoot if you take your money out.
It's easy enough to move money around these days. And yields are generally the highest since, I think, 2005. An unfamilar experience for many of us (not that I haven't lived through much higher rates, but it's been a while).
It's easy enough to move money around these days. And yields are generally the highest since, I think, 2005. An unfamilar experience for many of us (not that I haven't lived through much higher rates, but it's been a while).
Oct 21, 2022, 5:37 am
#2438
Join Date: Sep 2009
Programs: AA Executive Platinum, Marriott Lifetime Titanium, IHG Platinum
Posts: 1,438
IMHO, there are better ways to earn AA points.
Nov 2, 2022, 9:16 am
#2439
Join Date: Aug 2003
Location: Washington,DC
Posts: 1,822
I agree. Only 1.5 miles a dollar does reduce the Bask Bank value (after tax is considered) and for most redemptions below the Cash option.
When Interest rates were lower, the AA miles were better value, but now they are out of whack.
This is caused by the fact Bask Bank has increased the Interest rate significantly faster (and sooner) than the rate at which they are increasing Miles.
My math says miles should be around 1.8 considering today's rates - so miles are a 20% discount to cash.
When Interest rates were lower, the AA miles were better value, but now they are out of whack.
This is caused by the fact Bask Bank has increased the Interest rate significantly faster (and sooner) than the rate at which they are increasing Miles.
My math says miles should be around 1.8 considering today's rates - so miles are a 20% discount to cash.
Nov 2, 2022, 10:27 am
#2440
Join Date: Feb 2011
Location: NYC suburbs
Programs: UA LT Gold (BIS), AA LT Plat (CC SUBs & BD), Hilton Dia (CC), Hyatt Glob (BIB), et. al.
Posts: 3,290
We could discuss/argue the “value” question until the cows come home. Considering available savings/CD interest rates, high yield bonds funds dividend rates and share price fluctuations, tax bracket (almost 40% combined state and federal), Bask’s 1099 valuation, cash cost to buy AA miles and $$ and miles required for an international biz class seat, I personally still have almost all of my portfolio cash in a miles earning account at Bask. In my assessment, the $$ and miles required to buy a long haul biz class seat have skyrocketed relative to the increase in savings/CD interest rates.
Nov 2, 2022, 12:20 pm
#2441
Join Date: Aug 2003
Location: Washington,DC
Posts: 1,822
My Bask Bank rate just went up to 3.54%
My Bask Bank AA account remains at a ridiculous 1.5 miles / dollar
Earlier this year
My Bask Bank rate was 1.75%
My Bask Bank AA account was at 1 AA mile / $
So today why is Bask bank not 2 miles / $ ??
My Bask Bank AA account remains at a ridiculous 1.5 miles / dollar
Earlier this year
My Bask Bank rate was 1.75%
My Bask Bank AA account was at 1 AA mile / $
So today why is Bask bank not 2 miles / $ ??
Last edited by SteveinA2; Nov 2, 2022 at 1:24 pm
Nov 2, 2022, 1:42 pm
#2443
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,953
Historically, Bank Direct did not adjust the mileage rate to follow interest rates. I think the appealing solution is to open both accounts, and move money between them based on returns and needs. Today I have 96% in the Interest account, and 4% in the Mileage account.
Nov 2, 2022, 2:37 pm
#2444
Join Date: Aug 2016
Programs: WOH Globalist | IHG Platinum | HH Gold | MB Gold
Posts: 230
Can anyone validate my calculator is correct?
I tend to be extremely conservative and keep it simply by valuing points at 1 cent per mile. Everyones valuation is different. I simulated for 100k and keeping money in savings account seems better.
I tend to be extremely conservative and keep it simply by valuing points at 1 cent per mile. Everyones valuation is different. I simulated for 100k and keeping money in savings account seems better.
Nov 2, 2022, 2:59 pm
#2445
FlyerTalk Evangelist
Join Date: Dec 2003
Location: Not here; there!
Programs: AA Lifetime Gold
Posts: 29,558