ING direct FF miles?
Mar 12, 2003 | 4:43 pm
#2
Join Date: Jan 2003
Location: SJC
Programs: AA Gold; HH Gold
Posts: 2,850
Check out www.bankdirect.com . You can get AA miles through them with various accounts, including CDs. Plus, you get bonus miles for signing up, and bonus miles if you're referred by someone (let me know if you'd like a referral). I am quite happy with BankDirect.
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by teacher5:
does anyone know of anyway that i could put 100,000 into an ING cd and get miles? they have a better interest rate.
thanks</font>
does anyone know of anyway that i could put 100,000 into an ING cd and get miles? they have a better interest rate.
thanks</font>
Mar 12, 2003 | 5:34 pm
#3
Join Date: Apr 2001
Location: 60601 AA/HH/SPG
Posts: 1,090
Though Bankdirect gives miles, it's APR is about a 1% less than comparable products.
With a $100K CD purchase, you are technically paying...
$1K(the 1% spread) for 100K miles on a 2Yr CD
$1K(the 1% spread) for 50K miles on a 1Yr CD
$1K(the 1% spread) for 25K miles on a 6month CD
As you can see, it makes sense only if you buy the 2Yr CD. And within the two year term, your "cost" is going to increase as the "spread" increases because of rate hikes.
IMHO, its a Catch 22 situation. If you are a highly conservative investor, go for it. Otherwise, take a higher APR on a 1Yr CD somewhere else.
[This message has been edited by Bourne (edited 03-12-2003).]
With a $100K CD purchase, you are technically paying...
$1K(the 1% spread) for 100K miles on a 2Yr CD
$1K(the 1% spread) for 50K miles on a 1Yr CD
$1K(the 1% spread) for 25K miles on a 6month CD
As you can see, it makes sense only if you buy the 2Yr CD. And within the two year term, your "cost" is going to increase as the "spread" increases because of rate hikes.
IMHO, its a Catch 22 situation. If you are a highly conservative investor, go for it. Otherwise, take a higher APR on a 1Yr CD somewhere else.
[This message has been edited by Bourne (edited 03-12-2003).]
Mar 12, 2003 | 10:32 pm
#4
Moderator, Argentina and FlyerTalk Evangelist
Join Date: Aug 2000
Location: MIA / EZE
Programs: Lord of Malbec & all Wines Argentine. AA EXP / Marriott Lifetime Gold / Hyatt Explorist / Hertz PC
Posts: 36,216
I agree with Bourne. I did the Bank Direct thing and collected my miles, then for my liquidity needs dump all my stuff in ING Direct.
Mar 13, 2003 | 2:49 am
#5
FlyerTalk Evangelist
Join Date: Mar 2002
Location: Saipan, MP 96950 USA (Commonwealth of the Northern Mariana Islands = the CNMI)
Programs: UA Silver, Hilton Silver. Life: UA .60 MM, United & Admirals Clubs (spousal), Marriott Platinum
Posts: 18,074
What is ING Direct?
Does ING actually stand for something?
FCOTSTY is right!
Does ING actually stand for something?
FCOTSTY is right!
Mar 13, 2003 | 4:50 am
#6
Join Date: Oct 2000
Programs: AA - Lifetime Gold
Posts: 1,513
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by SPN Lifer:
What is ING Direct?
Does ING actually stand for something?
FCOTSTY is right!</font>
What is ING Direct?
Does ING actually stand for something?
FCOTSTY is right!</font>
Mar 13, 2003 | 8:38 am
#8
Join Date: Sep 2002
Posts: 873
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by SPN Lifer:
Does ING actually stand for something?</font>
Does ING actually stand for something?</font>
A couple of years ago they were in the news when they took over Barings (resulting in ING Barings), after Baring ran into trouble with their Singapore (or Asian) operation thanks to Mr. Nick Leeson. BTW I don't believe that was a very succesful take over...
I use them for asset management (but not in the US) and they are a large and reliable company IMO.
Mar 13, 2003 | 9:41 am
#9
Join Date: Nov 1999
Location: ABQ
Programs: SPEBSQSA
Posts: 3,797
And they are FDIC insured for deposits to $100K.
------------------
Bob
------------------
Bob
<font face="Verdana, Arial, Helvetica, sans-serif" size="2"> You only live once -- but if you work it right, once is enough.
Joe E. Lewis
</font>
Joe E. Lewis
</font>
Mar 13, 2003 | 10:06 am
#11
Join Date: Oct 2000
Programs: AA - Lifetime Gold
Posts: 1,513
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by AZ_MISMAN:
And they are FDIC insured for deposits to $100K.
</font>
And they are FDIC insured for deposits to $100K.
</font>
Mar 13, 2003 | 10:37 am
#12
Suspended
Join Date: Feb 2003
Location: On strike
Programs: FT badges are idiotic
Posts: 7,950
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by teacher5:
does anyone know of anyway that i could put 100,000 into an ING cd and get miles? they have a better interest rate.</font>
does anyone know of anyway that i could put 100,000 into an ING cd and get miles? they have a better interest rate.</font>
And no, I don't know how you'd get miles out of it.
Mar 13, 2003 | 4:29 pm
#14
Join Date: Mar 2002
Location: Vancouver, BC
Posts: 454
boobeary-
not sure about the $50 offer from ING, but I
could send you a referral email for $25 to open an ING savings account (the one that pays 2.3%)
[This message has been edited by Duckman (edited 03-13-2003).]
not sure about the $50 offer from ING, but I
could send you a referral email for $25 to open an ING savings account (the one that pays 2.3%)
[This message has been edited by Duckman (edited 03-13-2003).]
Mar 14, 2003 | 4:23 pm
#15
Join Date: Dec 2002
Location: Yorba Linda, CA
Programs: Marriott Platinum, Platinum Mileage Plus
Posts: 35
I think the $50 promotion ended a while back, and it was in connection w/ Quicken purchase. Email me if you want a referral for $25.
Email: [email protected]
Thanks.
Payul
[This message has been edited by pscabrea (edited 03-14-2003).]
Email: [email protected]
Thanks.
Payul
[This message has been edited by pscabrea (edited 03-14-2003).]