One of the relatively constant mileage deals over the last few years has been the ability to earn bonus miles from investment accounts. With this deal from Fidelity, it’s possible to earn up to 50,000 bonus miles (depending on how much you deposit) in either American, United, or Delta miles. Here’s the breakdown:
- Deposit $25K+, get 15,000 miles.
- Deposit $50K+, get 25,000 miles.
- Deposit $100K+, get 50,000 miles.
These deals have been around in one form or another for several years. TD Bank used to have one that gave away SPG points, a deal I personally did, but more recently Fidelity has been running the show. The best part about these is that they’re repeatable in the sense that you can get this offer every 12 months and are not taxed.
So if you have some extra cash laying around and would like to earn miles from it every year, this is a great way to do so. To date, these have not been taxed. And according to the main FlyerTalk thread (that was started 5 years ago), the miles have been posting much faster than usual (within about 3 weeks), so you’ll have access to those miles very quickly.
There are a couple of catches:
- The money added must be “new” money to Fidelity.
- Your money must stay in the account for 9 months.
At one point it was possible to deposit money, withdraw it, and then deposit the same money back as a way to run up the deposit total. This is NOT true anymore, as you will need to deposit the full amount (over several deposits if necessary) to earn the bonus. No more cycling of money, unfortunately.
People that have pulled money out prior to the 9 month period have earned a lifetime ban from this offer. It’s not worth it to get banned from anything that gives you (almost) free miles, so be sure about it before you start the process. For those who don’t care about the ban, they do let you keep the miles. NOT something I recommend, however.
In my opinion, the American miles are the most valuable, followed by United and then Delta, which I frankly would not even recommend. While these are technically “free” miles, I’m not a financial adviser so be sure to do your due diligence to find out if the opportunity cost of tying up your money is worth it for this deal!