Author Topic: Bank Direct AAdvantage Mileage Checking Account  (Read 26999 times)

Offline smurf

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #45 on: March 02, 2011, 07:19:01 PM »
Or more likely I think, i that it will affect customers with accounts opened after 04/01.
Either way I want to open an account now.
I was going to open one account each for me and my wife,she still has her id's with her maiden name so maybe I still can open her an account if I use her old address.

Offline Dan

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #46 on: March 02, 2011, 07:23:16 PM »
she still has her id's with her maiden name so maybe I still can open her an account if I use her old address.
I don't see why that wouldn't work!
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline smurf

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #47 on: March 02, 2011, 08:30:20 PM »
Any recent experiences funding these with a cc?

Offline AsherO

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #48 on: March 02, 2011, 10:49:30 PM »
Any recent experiences funding these with a cc?

+1
PGF24BMGS

Offline Devorah

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #49 on: March 02, 2011, 11:14:38 PM »
Looks like its too late!
Attention AA Customers:
Limit 2 Mileage transaction accounts per household: One Mileage Checking Account and one Mileage Money Market Account.

Also someone on FT just reported that new customers will only get 1 mile per $20 per month!  Still showing 1 mile per $10 on this site though so you may be able to apply now with a different address and still get the old rate!

What is the difference between these 2 accounts?

Offline Dan

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #50 on: March 02, 2011, 11:58:17 PM »
Any recent experiences funding these with a cc?
I don't recall being able to.

What is the difference between these 2 accounts?

The checking gives more miles.

Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline Devorah

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #51 on: March 03, 2011, 01:58:45 AM »
Any recent experiences funding these with a cc?

It clearly states that it will be counted as a cash advance.

Offline smurf

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #52 on: March 03, 2011, 06:24:15 PM »
It clearly states that it will be counted as a cash advance.
How about a debit card?

Offline Eli

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #53 on: March 03, 2011, 06:36:01 PM »
1.8cpm, that's hard to believe. Why would they be paying that if they can borrow from the Fed for less?
Why would they pay that if they can buy on the open market for cheaper!
-Eli

Offline gozalim

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #54 on: March 03, 2011, 07:11:35 PM »
Why would they pay that if they can buy on the open market for cheaper!
because there's no legit open market?

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #55 on: March 04, 2011, 12:50:37 PM »
Why would they pay that if they can buy on the open market for cheaper!

I'm not talking about miles, I'm talking about interest. If the AA miles effectively cost them nearly 2%, why wouldn't the borrow from the Federal Government who (from what I understand) is lending money to the banks at less than 1% (hence the low interest rates in this country) to stimulate spending?
PGF24BMGS

Offline mow

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #56 on: March 06, 2011, 03:14:58 PM »
Looks like they sent out a letter I'm gonna wait till April 1 to open the account

Here is the full text of the letter they sent out:

February 28, 2011

Dear Valued Customer:

BankDirect will be modifying our Mileage Program effective April 1, 2011. Your account may be affected by the new program structure. Please review the new program be low as it relates to your specific account type and the amount of deposited funds.

New account offer:
- Earn 1,000 miles for each new Mileage Checking Account or Mileage Money Market Account opened.
Additionally, earn 1,000 miles for every $100,000 in the initial deposit.
- Earn 10,000 miles for estabilishing payroll direct deposit into a Mileage Checking Account. *
- Earn 5,000 miles for using BankDirect's bill pay service. *
- Earn 5,000 miles for using your BankDirect Visa CheckCard. *
- Earn 1,000 miles for referring a friend when they open a Mileage Checking account.
New customers limited to 2 transaction accounts per household; one Mileage Checking Account and one Mileage Money Market Account.

Monthly earning opportunities:
- Earn 100 miles per month for every $1,000 of the collected balance in your Mileage Checking Account up to the first $200,000 on deposit. Earn an additional 25 miles per $1,000 for collected balances over $200,000.
- Earn 50 miles per month for every $1,000 of the collected balance in your Mileage Money Market Account up to the first $200,000 on deposit. Earn an additional 25 miles per $1,000 for collected balances over $200,000.

New Certificates of Deposit:
- Earn 1,000 miles for every $1,000 invested in a two-year Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **
- Earn 500 miles for every $1,000 invested in a one year Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **
- Earn 250 miles for every $1,000 invested in a six month Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **

BankDirect appreciates your business. The new Mileage Program has been designed with you in mind!
BankDirect Client Support is available at 1-877-839-2737 to assist you with any questions.

Sincerely,
Kerry B. Hall
Vice President
BankDirect Client Support

* Some restrictions apply. See BankDirect.com for program details after April 1, 2011.
** Early withdrawl penalties apply. See BankDirect.con for details.

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #57 on: March 06, 2011, 03:19:32 PM »
Looks like new customers will still get the same rate.
I wonder if they'll still let you have 2 accounts if you open before 04/01?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline smurf

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #58 on: March 06, 2011, 03:57:55 PM »
Looks like they sent out a letter I'm gonna wait till April 1 to open the account

Here is the full text of the letter they sent out:

February 28, 2011

Dear Valued Customer:

BankDirect will be modifying our Mileage Program effective April 1, 2011. Your account may be affected by the new program structure. Please review the new program be low as it relates to your specific account type and the amount of deposited funds.

New account offer:
- Earn 1,000 miles for each new Mileage Checking Account or Mileage Money Market Account opened.
Additionally, earn 1,000 miles for every $100,000 in the initial deposit.
- Earn 10,000 miles for estabilishing payroll direct deposit into a Mileage Checking Account. *
- Earn 5,000 miles for using BankDirect's bill pay service. *
- Earn 5,000 miles for using your BankDirect Visa CheckCard. *
- Earn 1,000 miles for referring a friend when they open a Mileage Checking account.
New customers limited to 2 transaction accounts per household; one Mileage Checking Account and one Mileage Money Market Account.

Monthly earning opportunities:
- Earn 100 miles per month for every $1,000 of the collected balance in your Mileage Checking Account up to the first $200,000 on deposit. Earn an additional 25 miles per $1,000 for collected balances over $200,000.
- Earn 50 miles per month for every $1,000 of the collected balance in your Mileage Money Market Account up to the first $200,000 on deposit. Earn an additional 25 miles per $1,000 for collected balances over $200,000.

New Certificates of Deposit:
- Earn 1,000 miles for every $1,000 invested in a two-year Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **
- Earn 500 miles for every $1,000 invested in a one year Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **
- Earn 250 miles for every $1,000 invested in a six month Mileage CD purchase up to $200,000. Additionally earn 25 miles per $1,000 on balances over $200,000. **

BankDirect appreciates your business. The new Mileage Program has been designed with you in mind!
BankDirect Client Support is available at 1-877-839-2737 to assist you with any questions.

Sincerely,
Kerry B. Hall
Vice President
BankDirect Client Support

* Some restrictions apply. See BankDirect.com for program details after April 1, 2011.
** Early withdrawl penalties apply. See BankDirect.con for details.
I guess i'll also wait until April to open an account.

Offline Devorah

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Re: Bank Direct AAdvantage Mileage Checking Account
« Reply #59 on: March 06, 2011, 04:45:20 PM »
What are the benefits for waiting until 4/1?