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Originally Posted by mia
(Post 13871953)
The problem with this approach is that they are offering an extra 0.5 miles per dollar only on the amount you spend, but Ferdinand Magellan wants to earn on money he is not spending. Also, there are other cards which award 1.25, 1.5 or 2 miles per dollar for general spending with no bank account requirement.
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any bankdirect signup bonus?
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Originally Posted by scubadu
(Post 13877557)
Well, this statement is true, but the important question is why in the world would you leave $100k sitting in an exceptionally low interest yielding checking or savings account?
The thing I think people miss about the "alternative miles earning" opportunities (i.e. miles for checking, miles for electricity, etc.) is that most of the time you are not "earning" miles; you are simply buying miles through either a lower interest rate than you'd earn elsewhere, or a higher electricity rate, etc. To each his own I suppose, but it seems to me that many FTers, in their obsession with miles, often end up spending a dime to save nickel... Regards At the end of the day, it all comes down to the value of mile/point and the hard cash you'd give up to get a mile/point. Those should be two amounts with a decent spread between them-otherwise you're spending a dime to get something you think might be worth a dime later. |
Originally Posted by scubadu
(Post 13877557)
Well, this statement is true, but the important question is why in the world would you leave $100k sitting in an exceptionally low interest yielding checking or savings account?
The thing I think people miss about the "alternative miles earning" opportunities (i.e. miles for checking, miles for electricity, etc.) is that most of the time you are not "earning" miles; you are simply buying miles through either a lower interest rate than you'd earn elsewhere, or a higher electricity rate, etc. To each his own I suppose, but it seems to me that many FTers, in their obsession with miles, often end up spending a dime to save nickel... Regards Also I'm sure anyone with $100k to put into a miles checking account is someone that enjoys (or would rather) fly business or first tickets where the value per mile is signicantly higher. Also some people really don't want to be bothered with high yielding interest accounts where the max is 25k and you have to do 10-12 check card transactions a month. |
+1 VXMike, Robbert; also,like BD for the regular AA miles we earn each month (25,000), use for once a year biz class seats overseas (thus the tradeoff is worth it for us). This sure beats schelpping US Mint coins. Plus, when you refer BD customers you get 1000 AA miles per referral (have done 10).
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Is there a limit on BankDirect?
Is there really no limit on miles you can get through BankDirect? Or is it 100K? Thank you.
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Originally Posted by vickh
(Post 13881306)
any bankdirect signup bonus?
See this thread: http://www.flyertalk.com/forum/ameri...solidated.html Or, better yet, PM me and I'll refer you! |
Originally Posted by drhoenikker
(Post 13896558)
Is there really no limit on miles you can get through BankDirect? Or is it 100K? Thank you.
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Originally Posted by josephstern
(Post 13896612)
I've earned more than 100K miles - I just double checked under "review earned miles" and that clearly adds up to over 100K.
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Originally Posted by drhoenikker
(Post 13897290)
Sorry, I should phrase it more clearly: I meant 100K dollars, not miles. Is there really no limit on the size of the account that is going to collect miles at the rate of .1 m/$? I mean, if you open a $100M account, will they really give you 10M miles a month? :confused: What is the limit?
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there is no limit on earned miles
i have significant deposits at bank direct and called to ask about mile caps.
they allow 2 accounts per person with no mileage cap. ive earned more than 100k AA as well. for me i leave money there to be liquid... money i need to have in cash. i had 2% 1 yr citi CDs but prefer to earn the miles instead. 2% post tax is about 1.4% cash. id rather buy my miles at 1.4 cents. once i have lifetime AA though i may move it out of bankdirect. |
Thank you, josephstern and magicspot!
Originally Posted by magicspot
(Post 13897463)
i have significant deposits at bank direct and called to ask about mile caps.
they allow 2 accounts per person with no mileage cap. ive earned more than 100k AA as well. for me i leave money there to be liquid... money i need to have in cash. i had 2% 1 yr citi CDs but prefer to earn the miles instead. 2% post tax is about 1.4% cash. id rather buy my miles at 1.4 cents. once i have lifetime AA though i may move it out of bankdirect. |
Hmm. Sounds great for all you folks having 100k sitting around.
Now . . . if I could just find someone willing to let me hold $1m for them for a few months, I could get lifetime status! |
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