Saving account interest rates are low right now and this gives banks an opportunity to try and reward customers differently so they feel valued. This includes options like Yotta savings and even online savings accounts like Bask Bank earns American Airlines miles instead of cash when saving money. And this could provide more value than a high interest savings account and be one of the best saving accounts available. And this could be a great savings account for travelers.
00:00 – Start
00:29 – Alternative Savings Accounts
1:26 – Bask Bank AA Relationship
1:44 – How it works
3:57 – 1099 Tax Form
5:04 – Redeeming AA miles
5:57 – Is It Worth It?
9:10 – Final thoughts
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20 comments
Dustin you bite your tongue young man! Hahahahaha 🤣😂. We will not speak of AA devaluing their partner award charts!! LOL! I’m in the Midwest and those short haul AA flights using Avios are heaven! Hahahahaha
This could be decent for your emergency fund. I'm considering it for the bonus.
I also appreciate the Dr of Credit shout out.
I love the bank bonuses and would appreciate you at least mentioning them, if you think they are worth it and a link OR if you like the idea make a video rounding new ones up every once in a while
If taco bell awards cheesy gordita crunches…..I'm in!!!
I had the Bask account when they had a 6000 AAdvantage miles sign up and feedback survey bonus . This account currently is not worth it with the current bonus IMO.
$60,000 in a 2.5% dividend portfolio is $1,500. Just sayin.
ya i miss the good ole days, when i was easily getting 2.5% interest on my savings accounts.
Yeah econ flyers can get good value from AA…burned about 100k last year
As usual, good content from WW. 1099 form?? Dude’s going deep.
personally I'd rather have the cash. Not in a position just yet to be traveling haha
I wish they partnered with Delta or JetBlue.
I love it! All airlines should do this. But then again, this would devalue the miles if it's easier to earn the miles.
Yep, I'd take a bank that gave me free Taco Bell. And now I want a chalupa. Why must the internet conspire to make me want Taco Bell?
This is an interesting idea though, about twice what most HYSA offer now. Plus the better tax benefits. I wish they'd offer more airlines than AA since I don't fly them often.
And to answer your question, yes, I'd be interested in other savings account news. With interest rate so low now I'd be willing to chase after different rewards. I'm moving some money to a Citi Savings account for their sign up bonus and would be interested in seeing what other options are out there.
This is interesting and I've seen ads about this before a while ago. My wife and I might put about $50,000 into this account to earn 50,000 miles a year and save those miles up for some first class flights to an exotic destination. Thanks for breaking this down for us man. Take care and keep the family safe!
AA is either the worst airline or second worst. No way man haha
I've never heard a savings account like that.
good content. thanks. was actually looking into HYSA for some time. i dont have AA so not for me rt now
Great concept. Gotta have a lot of extra cash to make it worth much, other than for keeping points from expiring. Hope we see more outta the box thinking like this in the future.
Talk about bank account bonuses!
Thanks for sharing this – and also for your mention about Chime.
greetings, can you do a comparison between the CSP and BoA Premium Rewards? Please and cheers in Advance!