Comments on: Bask Bank Review: Pros, Cons, And Alternatives https://thecollegeinvestor.com/33196/bask-bank-review/ Navigating Money And Education Fri, 12 Jul 2024 17:26:07 +0000 hourly 1 By: Robert Farrington https://thecollegeinvestor.com/33196/bask-bank-review/#comment-459453 Tue, 01 Dec 2020 06:48:55 +0000 https://thecollegeinvestor.com/?p=33196#comment-459453 In reply to MICHAEL H.

Yes, it’s an easy way to deposit miles so your account stays active.

]]> By: MICHAEL H https://thecollegeinvestor.com/33196/bask-bank-review/#comment-459448 Tue, 01 Dec 2020 01:08:23 +0000 https://thecollegeinvestor.com/?p=33196#comment-459448 Also American Airlines miles expire after 18 months without activity so depositing miles every month from this savings account should prevent this?

]]> By: Marko-ER https://thecollegeinvestor.com/33196/bask-bank-review/#comment-458919 Mon, 09 Nov 2020 16:37:26 +0000 https://thecollegeinvestor.com/?p=33196#comment-458919 1.2% APY is pathetic, but it’s hard to find 1.2% APY in today’s low-rate environment. The best I can find that is FDIC insured is an 18 month flexible CD at 1.15%. And I think on average miles are valued at 1.4 cents per mile. The big kicker here: in terms of interest reporting to IRS you only get reported at 0.42 cents per mile, so for those of us in the highest marginal tax bracket, that increases the “yield” a bit (0.58*(0.392+whatever your state income tax is)) ~ at least 0.22%.

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