URGENT HELP
 

I need to move my $25K from the bank (which yeildsme just about 2% interest) to Money Market account that gives close to about 4% and gives some FF miles.

Any suggestions would be greatly appreciated.

Thanks

One option is to open an account with E-Trade and instead of trading have your uninvested cash earn interest in one of their money market funds (the highest yielding about 3.5%). E-Trade offers miles/ponts. Be aware though that many posted in SPAM that their experience with E-Trade was less than perfect.

if you want aa mi's look into aadvantage funds. money market was paying around 3.3 + 1 mi / 10 annualized $'s. 25k would result in 200+ mi's/month- i think

I believe TD Waterhouse still has the sign up bonus with AA miles for a $10K deposit (or something like that).

The AAdvantage Mileage Fund, available at TD Waterhouse, earned a rate of 3.3% last month. The regular money market usually earns 0.1%-0.2% more. You can do better at a community savings bank but no miles. Also, some of these brokers charge you account inactivity fees...

You didn't metion any specific FF program, so I will throw this in.

Northwest has WorldPerks InvestorMiles through Warburg Pincus Funds (800-927-2874) or www.warburg.com/fund_menus/nwfmenu.htm

There are some BankDirect options (www.bankdirect.com):

Mileage Money Market: 2.9% APY plus 1000 miles for a new account plus 50 miles per month per $1000 (so that would be 15,000 mile per year for $25K)

Mileage CD:

1000 miles/$1000 in 2 year (4.15% APY)
500 miles/$1000 in 1 year (3.65% APY)
250 miles/$1000 in 6 month (3.4% APY)

You could also get 4% APY in a non mileage MMA.

INGDirect.com is another great choice. 5% interest, with no minimum. Also I can earn a little when I refer you, so if you are interested please send your full name and email address to me, (Email is included in my profile)

Thanks



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Al

TD Waterhouse is a good deal: bonus for 10k deposit & then miles in the aadvantage fund. They are quick to post, too.

Go to www.aolaadvantage.com and look for the American/Charles Schwab. http://www.flyertalk.com/forum/smile.gif

I think Georgia Peach has the right idea. You can earn up to 50,000 American Airlines miles by opening up an account with Schwab. I have several accounts with Schwab, they have very competitive money market rates, lots of no load mutual funds, and offer on line trading. Their customer service is also as good as a full service broker plus you can reach them by phone 24 hours a day. You should at least give them a call before you make your decision. Good luck.