Here we have a great set of offers for you from Fidelity for a potential 150,000 frequent flyer miles. I consider this deal to be second only to the best airline credit cards for your chance to rack up bundles of miles rapidly.
You can compound your free miles earnings without needing to spend money or tie up funds in separate accounts.
There are three different Airlines to Get miles from this offer.
AAdvantage Miles or United MileagePlus Miles
The American and United Airlines signup bonus offers are for NEW customers only and you can only be a new customer once. So you will need to choose which of the two has the best frequent flyer program for your needs.
I decided to go with American Airlines AAdvantage program over United Airlines because of the former’s JFK-EZE service. That means I value AAdvntage miles higher, for my needs, but you should go with your needs.
Also American Airlines AAdvantage miles count toward earning lifetime elite status (no longer true as of 2012).
As of 2013 this double dip may no longer be valid
The Delta Airlines signup bonus offer is for existing account holders and can be applied for once you decide on going with American or United’s free airline miles.
So by the end of this deal I will have 50,000 AAdvantage frequent flyer miles and 50,000 SkyMiles. I think that is a good deal for not having to spend a single $1, aka free miles!
That is just as good a return as some of the best airline credit cards. You get mileage and there is low risk. What more could you want?
Step by Step Guide
Open a new Fidelity brokerage account to be eligible to earn 50,000 miles with
Step 2: Complete Deposit Requirement
You need $100,000 in cumulative deposits to earn the 50,000 frequent flyer mile tier in any of these bonus offers. The trick is that this is not a one-time $100,000 deposit . That would be too rich for my blood.
Recycle your funds. (as of 2013 the cumulative trick may not be valid) Do you have $5,000 or $10,000 in your checking account that you won’t need for the next month? Then start churning those deposits until the cumulative reaches $100,000.
- Deposit $25,500. Wait up to 7-10 business days for first time deposits to clear.
- Withdraw all but $500 of your funds.
- Redeposit $25,000, wait for funds to clear.
- Withdraw $25k and repeat process until you reach $100,000 in cumulative deposits.
- Mileage typically posts on the Sunday following meeting the $100k requirement.
Step 3: Delta Double Dip
(must complete Step 1 before starting):
- After receiving 50k American or United miles enroll in Delta offer. The Delta offer is for existing customers so remember to complete the new customer promo’s in Step 1 first.
- The account you opened in Step 1 qualifies for the Delta offer.
- Since you already achieved $100k in deposits from Step 1 you do not need to touch any money for this offer.
- Wait until the Sunday after enrolling for Delta SkyMiles to post.
Remember the opportunity cost of recycling this amount of money would be the ~1% savings account interest rate you would be missing. Is it worth 100,000 frequent flyer miles? If you are on my site than the answer is probably an emphatic “Yes!”. You should take that into consideration when making financial decisions like this.
Before continuing you should think about the implications of switching investment holdings with other firms into Fidelity. Do you have any new fees or expenses?
I am not a financial advisor and ask you to consult yours before making financial decisions.
To Your Frequent Flyer Success!