The Bask Mileage Savings Account is currently offering a 20,000 AAdvantage® mile bonus to new customers who open an account by Aug. 31. 2024 and complete qualifying activities.
The account’s regular perks include 2.5 AAdvantage® miles per $1 saved.
Frequent American Airlines flyers may be able to earn rewards faster with an American Airlines credit card.
When looking at a savings account, the question most people ask first is “How much will I earn in interest on my money?” Answers can vary between virtually nothing with many large brick-and-mortar banks to hundreds of dollars per year with some of the top online banks and a large enough balance.
Then, there’s the Bask Mileage Savings Account. It doesn’t pay you any cash at all. Instead, you earn American Airlines AAdvantage® miles for every dollar saved. Right now, it’s running a special promotion that could give you an additional 20,000 bonus miles for completing certain qualifying activities — but there’s only a few weeks left to earn it.
How to claim the Bask Mileage Savings Account’s 20,000 American AAdvantage® miles bonus
Customers interested in pursuing this bonus will need to do the following things to earn it:
Our Picks for the Best High-Yield Savings Accounts of 2024
American Express® High Yield Savings
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UFB Portfolio Savings Account
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You must open a new Bask Mileage Savings Account by Aug. 31, 2024.
You must fund your account within 15 days of account opening.
You must maintain a minimum daily balance of $50,000 for 180 out of the first 210 days following account opening.
You must provide Bask Bank with your AAdvantage® account number in the same name as your Bask Mileage Savings Account.
If you complete these requirements, Bask Bank will begin the process of depositing the bonus miles into your AAdvantage® account within 10 business days. However, it may take six to eight weeks for the miles to actually post to your account. So all told, it could take 38 weeks, or more than 8.5 months from account opening, to get your miles.
Should you go for the Bask Mileage Savings Account’s bonus?
The Bask Mileage Savings Account is targeted at a very specific audience. If you frequently fly American Airlines, it could be worth it for you. But the average person will do better with a standard high-yield savings account that pays them cash they can put toward anything.
If you really want bonus miles, you might be better off opening an American Airlines credit card. The Citi® / AAdvantage® Platinum Select® World Elite Mastercard® can earn you 50,000 miles bonus miles when you spend $2,500 in purchases within the first 3 months of account opening. That’s a much more achievable bonus for most people, and it can get you your miles quicker too.
Those who do opt for the Bask Mileage Savings Account will earn 2.5 American AAdvantage® miles for every $1 they save annually. So if you put $50,000 in the account in order to earn the 20,000-mile bonus, you’d earn an additional 125,000 miles.
However, you won’t earn miles on these dollars every month. Every dollar that goes into the account earns you 2.5 AAdvantage® miles, but this only happens once. If you’d like to continue earning more miles, you’ll have to continue making regular deposits to the account.
A final caveat is that miles earned through your Bask Mileage Savings Account won’t help you work toward elite status or AAdvantage® Million Miler™ status. So again, it might not be your best option if you’re trying to grow your American Airlines rewards as quickly as possible. Consider applying for an American Airlines credit card and keep your cash in a high-yield savings account or an interest-bearing checking account.