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Update 12/1/22: Bask Bank Mileage Savings Accounts now offer 2 American AAdvantage® miles per $1 saved annually.
Update 5/1/23: The Bask Bank Mileage Savings Account now earns 2.5 Miles per $1 Saved Annually.
A Bask Savings Account earns 1 American Airlines AAdvantage® mile per dollar saved annually. The account has no fees. And earning these miles can make a lot more sense than earning interest right now, with rates so low.
The product is unique because it lets you earn large amounts of miles, offers earning that you can receive year after year without limit, and doesn’t require spending any money.
And good news, the account opening bonus offer for the no-fee Bask Savings Account has been extended. You earn an extra 1,000 bonus miles when you hold a minimum daily balance of $5,000 for 90 consecutive days within 120 days of opening an account. This offer has been extended to June 30, 2021.
2020 has been a hard year, but it’s almost behind us. And I’m excited to start traveling again, I’ve been plotting out several trips for the summer and fall of 2021. I’m only booking my airfare with miles, though, because of how flexible that can be.
- Given all the uncertainty in the world, I don’t want to make firm commitments.
- American Airlines AAdvantage® miles have become even more valuable since they’ve made the huge move to eliminate mileage redeposit fees. You can book an award ticket, and if you decide to cancel your trip you can get the miles back with no fee – just cancel before your first flight is scheduled to depart.
- This makes miles the right way to book trips in an uncertain time, and makes the miles you’re earning worth more because of their flexibility. (Unfortunately this option is unique to American Airlines – it’s not something we’ve seen other airlines match.)
At the top of my list of trips to plan are several I want to use AAdvantage® miles for.
- Qantas family trip. Qantas first class is my favorite way to travel to Australia, and I’m looking forward to seeing my family there again as soon as I’m permitted to. Since I’ll be looking for three seats now (since my daughter turned two) I’ll probably redeem for business class. It’s important to me to see the two new kids my cousins have had since we’ve been apart.
Sydney Opera House
- Qatar Airways for their world-leading business class. There are several resorts in the Mideast I’d like to try, and Qatar Airways is a great option for flying to the Maldives which is the beach destination abroad I’ve been to the most. (And I’ve taken my daughter to Bora Bora, but not yet the Maldives.) The great thing is that AAdvantage® miles offer the best redemption rate on Qatar Airways business class, and their ‘QSuites’ are perfect for a traveling family since four seats can become a shared pod.
Credit: Qatar Airways
- Japan Airlines for sushi, and more. My hometown of Austin is great for barbecue, but the thing I gave up that I missed most living here is the Asian food that’s so good in the DC area. I had an amazing trip to Tokyo a couple of years ago, trying out some of the best sushi in the country (like Sukiyabashi Jiro Roppongi and Sushi Masuda), and I’d like to try more places I haven’t visited yet.
I recently wrote about good premium cabin award space on Japan Airlines and Tokyo makes a convenient stop enroute to Southeast Asia – perhaps to hit the Singapore Hawker stalls again.
Red Hill Road Hawker Center, Singapore
Regular readers know that I don’t just write this blog. I have a full-time job in the DC area (living in Austin, remote work was nothing new to me in 2020). I’ve just received my year-end bonus and plan to deposit it into my Bask Savings Account while I consider what I should be doing with it.
Miles are more valuable now, and the right way to book. A Bask Savings Account is a great way to earn these miles, and it’s great that the new customer bonus offer has been extended. Bask Bank is a division of Texas Capital Bank, N.A. I’ve been a customer of Texas Capital Bank since 2003, and have earned hundreds of thousands of miles with them over the years. It’s free, quick and easy to sign up and earning miles for your savings is a better deal than you’ll find from most savings accounts.
Bask Bank and BankDirect are divisions of Texas Capital Bank, N.A. Member FDIC. The sum of your total deposits with (i) Bask Bank; (ii) BankDirect; and (iii) Texas Capital Bank, N.A. are insured up to $250,000. Additional coverage may be available depending on how your assets are held.
Account Opening Award valid through June 30, 2021. Accounts must be funded within 90 days of opening. AAdvantage® bonus miles are awarded within 10 business days upon meeting offer qualifications and may take 6-8 weeks to post to your AAdvantage® account. The value of this offer will be reported to the IRS and the recipient is responsible for any federal, state or local taxes on this offer.