BankDirect Mileage Checking Review – 22,000 AAdvantage Miles Bonus

by Hu$tler on May 8, 2014

in Bank Deals & Bonuses

Bankdirect BonusBankDirect is participating with American Airlines to offer up to 22,000 AAdvantage Miles to new and current AAdvantage members. You’ll get the first 2,000 bonus miles by opening either a BankDirect Mileage Checking and Mileage Money Market Account. The next 10,000 bonus miles by setting up direct deposit through your employer. Earn 5,000 miles for using BankDirect’s bill pay service and another 5,000 miles for using your BankDirect Visa CheckCard. By doing the four steps above, you could easily get a total of 22,000 bonus AAdvantage Miles.

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BankDirect 22,000 AAdvantage Miles Bonus Information:

  • Sign up Offer
  • Account Type: Mileage Checking with Interest and Mileage Money Market
  • Availability: Nationwide, online only.
  • Expiration Date: None
  • Hard Inquiry: No, soft credit pull.
  • Opening Deposit Credit Card Funding: No
  • Direct Deposit Requirement: Yes, must do $2,000 or more per month for six consecutive statement cycles.
  • Monthly Fee: $12 per month with no way to avoid.
  • Additional Requirements: $500 minimum to open. Use online bill payment program and pay a minimum of three different payees totaling at least $500.00 a month for six consecutive statement cycles. Use debit card for a minimum of 12 transactions totaling at least $500 per month for six consecutive statement cycles.
  • Closing Account Fee: Early withdrawal is $15 if closing within 90 days of opening.

Extra Ways to Earn Bonus Miles:

  • Earn 1,000 miles for every $100,000 in initial deposit, up to $500,000, per household.
  • Earn 1,000 miles for referring a friend when they open a Mileage Checking account.
  • Earn 100 miles per month for every $1,000 of the monthly average collected balance in your Mileage Checking Account up to the first $200,000 on deposit. For monthly average collected balances over $200,000, earn 25 miles per $1,000 for all balances over the first $200,000 on 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 invested over $200,000.

Note that BankDirect is an FDIC insured, internet-only bank with no physical branches. For those who are already or want to become an AAdvantage member, you may want to consider opening an account with BankDirect. Members can easily earn 10,000 AAdvantage miles each year with a Mileage Checking Account and 50,000 miles with the purchase of a single Mileage CD. Due to the fact you are getting miles and not cash, there is no 1099 form on this bonus. The biggest drawback is the $12 monthly fee x 6 = $72 for six months that will take you to complete the bonuses. This means you are looking to fork out $72 for 22K miles. If this is still worth it to you, don’t wait any longer and apply today! See our full list of bank bonus offers!

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{ 4 comments… read them below or add one }

Muneer January 1, 2013 at 6:49 pm

Are the points redeemable for cash?

Reply

Hu$tler January 3, 2013 at 9:52 pm

Don’t think so. Miles can be for a free flight.

Reply

John Jago June 6, 2012 at 12:07 pm

Effective Jan. 1, 2012 they have a $12 monthly fee regardless of account balance. Bill Pay and CheckCard bonus require 12 months of activity and the payroll deposit must be “FULL” paycheck from all employers. Not worth it for the $144 in fees for the first year.

Reply

William Charles May 7, 2014 at 1:48 am

Looks like this has been changed to only 6 months of activity, still a terrible deal.

Reply

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