If you aren't going to trade, E*Trade is not the place to put your money. You may be charged inactivity fees of $15 a quarter I believe.

Edit...As always, check the terms for yourself. I closed mine last summer after getting hit with a fee.

[This message has been edited by bsartist (edited 08-13-2002).]

It's not necessary to tfr the entire account to Ameritrade. Just tfr enough assets to earn miles, leaving a balance in the first account to avoid termination fees. Ideally a cash balance which may be withdrawn later but does not generate a termination fee..

Great experience with TD Waterhouse. I can report all promises kept promptly.

Also, they allow funds to be kept in an AAdvantage money market fund, which yield a decent interest rate and an extra 1 mile per 10 dollars per year, paid on a monthly basis.

Its a good promotion. I am sure some people end up keeping their accounts because of the positive experiences they had with this program.

The problem is that many of these brokers are now charging a "partial termination" fee when you transfer assets out even if you leave a balance in the account with them. Once you let them get their hands on your assets, you have to "ransom" them out. http://www.flyertalk.com/forum/frown.gif

IIRC Ameritrade is one of those brokers.

I opened an Etrade account through the old Clickrewards program. I received my points within a couple of weeks with no follow up necessary.