Moving money to earn bigger chunks of airline miles

I’ve mentioned on here before that my husband and I each have savings accounts at Bask Bank that earn American Airlines miles instead of interest. Our accounts earn 1.5 AA miles per dollar annually. So for example, an account with $10,000 dollars in it earns 15,000 AA miles annually. We’ve been using AA Web Special Awards a lot recently, even on the last trip I booked for 2023.

Well, another mile-earning opportunity presented itself, and it’s time for us to move some of our money for a bigger payout.

Citi Miles Ahead Savings Account

Last week, I received a mailer from Citi inviting me to open a Citi Miles Ahead Savings Account. After maintaining a deposit for 90 days, the account earns bonus AA miles:

20,000 bonus AA miles for deposits of $10,000-$49,999

40,000 bonus AA miles for deposits of $50,000 to $199,999

50,000 bonus AA miles for deposits of $200,000

Note that the money must be “new” to Citi money, not money moved from another Citi account.

The account has no monthly service fees and earns a “competitive” interest rate that varies based on your balance. Maintaining a $10,000 balance also triggers 25% more miles earned on my Citi/AAdvantage credit card.

The bonus miles post within 90 days after qualified activity. So, worst case, our money is tied up in these accounts for 6 months. $10k in our Bask Bank would earn 7500 miles in 6 months, whereas here it would earn 20k miles plus interest.

I believe this bonus is targeted only for people with a City/AAdvantage card, so I don’t have a public link. In addition to the mailer, I found the offer in my online Citi account attached to my credit card.

My husband has the same offer. We will both move $10k to separate accounts for a total of 40,000 bonus AA miles.

Bottom Line

My husband and I earn the majority of our miles and points through credit card sign-up bonuses. But, when an easy opportunity like this arises, I will move money and keep track of it to earn some extra miles. Easy peasy.

Anyone else opening a Citi Miles Ahead Savings Account?

Photo by Pietro De Grandi on Unsplash

How does my family travel so much? We use miles and points from credit card bonuses. See my Travel Hacking 101 post as well as current credit card offers here.

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