Bask Bank Mileage Savings account review: Earn American Airlines miles
Read this Bask Bank Mileage Savings account review and find out how you can earn high-yield with no minimum deposit requirements.
Understanding Bask Bank Mileage Savings account: No minimum deposit requirements
Want to earn airline miles while saving money? Then look no further! This unique account offers a combination of banking and mileage earnings. Here is our Bask Bank Mileage Savings account review.
- Fees: N/A
- APY: N/A
- Benefits: Combines banking and airline mileage needs into a single, easy-to-manage account.
- Investment Options: N/A
Are you looking to maximize your savings while earning travel rewards? The Bask Bank Mileage Savings account account allows you to earn miles for every dollar saved, with no fees or minimums.
Bask Bank Mileage Savings account: understand how it works
The Bask Bank Mileage Savings Account offers a unique opportunity to combine banking and airline mileage needs into one account. For every dollar you save annually, you will earn two American Airline AAdvantage® miles.
This account does not earn interest like traditional savings accounts. Instead, account holders earn miles based on their average monthly balance.
Customers can open an account with any amount of money, with no minimum deposit requirements, and no account fees.
Account management can be done through Bask Bank’s online and mobile banking platforms, with customer service available over the phone and by email.
Bask Bank is an online and mobile-based bank launched in January 2020, with no brick-and-mortar branches. It is a division of Texas Capital Bank, N.A., a 22-year-old financial institution based in Dallas, Texas, and is FDIC insured.
The account comes with no minimum opening deposit requirement and $0.01 balance minimum for earning rewards. It also has no account fees of any kind, ensuring that every dollar you deposit remains yours.
The account is accessible through Bask Bank’s online banking website and Apple and Android mobile banking apps.
For frequent travelers, Bask Bank’s Mileage Savings Account offers a low-risk and deposit-based approach for building up AAdvantage® miles.
A single mile is worth a minimum of one cent, making the account effectively a 1.00% annual yield. At the same time, a $25,000 deposit earns 25,000 miles, equivalent to at least $250 in travel benefits.
This is a great alternative to earning miles through flying or using specific credit cards or vendors. Bask currently does not offer joint-ownership accounts.
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Significant benefits and disadvantages you may find
Now that you are familiar with this account’s details, let’s have a look at its pros and cons. Our Bask Bank Mileage Savings account review would not be complete without it.
- Earns American Airlines miles
- No account fees
- No minimum deposit
- High APY
- Limited to American Airlines miles
- Interest not earned directly
- No joint-ownership accounts
- Only available online.
Is a good credit score required for applicants?
The Bask Bank Mileage Savings account has no specific credit score requirements for applicants. We recommend you check the account’s terms and conditions to make sure you match its client profile.
Learn how to apply and open a Bask Bank Mileage Savings account
If you like what you have seen in this Bask Bank Mileage Savings account review, you might want to take the next step and apply for this account.
Therefore, if that is the case, then hit the link below and we are going to show you how to do it.
About the author / Danilo Pereira
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