Bask Bank is one of my favorite bank accounts. It lets me earn airline miles instead of interest. With interest rates so low, the miles I earn are far more valuable to me. Not only that, but you can also earn bonus miles based on your deposits, balances, and for completing a survey. For a limited time, you can also earn up to 25,000 American Airlines AAdvantage miles through the Bask Bank referral program when you refer your friends and family. Here’s how.
Bask Bank: Earn miles instead of interest
The Bask Savings Account is a great way to earn miles without spending any money. Most of the time, we tend to focus on the best ways to spend using co-branded credit cards, shopping portals, and partner programs. With Bask Bank, you’re actually rewarded for savings instead of spending.
You’ll earn one American Airlines AAdvantage mile for every dollar that you save each year. For example, if you save $100,000, you’ll earn 100,000 after 12 months.
There are no caps on the number of miles that you can earn and the account does not charge a monthly service fee. Best of all, even though interest rates are near historical lows, you’re still earning 1 mile for every dollar of savings. With American Airlines AAdvantage miles valued at an average of 1.4 cents each, that is far better than the average savings account rate of 0.1%.
Click here or a detailed review of the Bask Savings Account.
Opportunity to earn bonus miles
In addition to earning miles on your savings deposit balances, you can earn a bonus to give your miles a boost.
Opening Deposit Bonus
When you deposit a minimum of $5,000 and hold that balance for at least 90 of the first 120 days your account is open, you’ll receive 1,000 AAdvantage bonus miles. The miles are awarded within 10 business days of meeting the qualifications, but may take 6 to 8 weeks to post to your account. In my experience, the bonus posts much sooner than that.
This offer is valid for accounts opened through December 31, 2020.
Other bonus opportunities
Additional bonus opportunities may be available periodically. In the past, Bask Bank offered bonuses for completing a survey and when you maintained higher balances over several months.
Bask Bank Referral Program – Earn up to 25,000 miles
For every friend that you refer that opens a Bask Savings Account and meets the minimum deposit requirements, you’ll BOTH earn 5,000 American Airlines AAdvantage miles. That’s right, both you AND your friend will earn 5,000 miles each.
When you refer five friends, you’ll earn the maximum of 25,000 miles. Plus, your friends will each earn 5,000 miles. It’s a total win-win!
To qualify, your referrals must deposit at least $10,000 into their Bask Savings Account and keep that balance for at least 90 of the first 120 days after opening their account.
Accounts must be opened by September 30, 2020, in order to qualify for this Bask Bank referral program promotion.
The Bald Thoughts
With the Bask Bank referral program, you’ll earn 5,000 miles for every person you refer who meets the deposit requirements. In addition, they’ll also earn 5,000 with your referral and their deposits. Through this promotion, you can earn a maximum of 25,000 American Airlines AAdvantage miles, which is generally enough for a round-trip domestic flight.
Interest rates are incredibly low right now, so consider opening up a Bask Savings Account to earn miles instead of interest. You’ll thank me later when you’re flying for free on your next vacation.