Earn Miles from Banks & Investment Companies
Episode #7 of the course Travel hacking: Earn frequent flyer miles without flying by Chris Guillebeau
You’ve learned how to earn miles and points through dining and shopping programs simply by registering your credit cards. You’ve learned about special promotions as well as the resources you can use to keep you up to date on all things travel hacking and help you take advantage of new offers.
But wait, there’s more. Lately, travel hacking has begun to influence card issuers and banks even more. Many have learned how to profit from travelers looking to increase their miles and points by offering rewards for opening and using checking and savings accounts. These rewards often provide you with an opportunity to earn more over a longer period of time than through the use of a credit card alone.
Right now, you can earn American AAdvantage miles as “interest” with a Bank Direct checking or money market account. You’ll also get 1,000 miles just for opening an account on top of your monthly miles dividend. Be aware that there’s a $12 a month fee, so you shouldn’t open an account unless you’ll earn enough miles to make it worth it.
Fidelity pays out big mileage bonuses with United, Delta, and American programs. Earn up to 50,000 miles when you open a brokerage account and park your money there at least six months.
I often hear from readers who send in their own experiences in travel hacking. One reader by the name of David was able to help his parents uncover 270,000 US Bank points that they didn’t even realize they had been accruing. He was then able to take those points and book two flights for them from New York to Paris, round-trip. Combined with two free nights at a hotel, David ended up saving almost $5,000. The best part is that by booking award travel with the US Bank points, David was able to double the cash value of the points themselves, which the company wanted to give only as a $2,700 statement credit.
This easy method to earn miles and points takes a small amount of time researching, but the perks are long-lasting. They can usually be discovered on the “earn miles from partners” page of your favorite airline and hotel websites. Check out a few options that work well for you and start earning more points today!
By the way, do you like taking surveys? Well, tomorrow you’ll learn how to share your opinion and get paid…in points and miles, of course.
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