Thanks to new plans being offered by airlines and financial service companies, there are several new ways for investors to rack up frequent flier miles. With Delta’s partnership with Charles Schwab, deposits that hit $30,000 within the account’s first year earn 3,000 SkyMiles.
For every additional $10,000 deposited anytime thereafter, 1,000 SkyMiles are awarded. “This makes SkyMiles more appealing, especially to our business travelers,” says spokesperson Bill Berry. The program also boosts Delta’s revenues, since Charles Schwab pays the carrier a fee. For information, call 888-364-7669.
Invest in one of American Airlines’ seven mileage funds (including money market funds, a short term bond fund and others) and earn one AAdvantage Mile annually for every $ 10 maintained in the account. Miles are also awarded for trades made through Bull & Bear Securities (800-447-4566). Earn 500 AAdvantage Miles for each of your first five trades, and 100 AAdvantage Miles for every trade thereafter.
American Express Financial Direct lets you earn points redeemable for miles on Delta, US Airways, Continental, Southwest, Hawaiian Airlines and several international carriers. For every $10 invested in one of 200 no-load funds through Financial Direct (excluding retirement accounts, CDs and annuities) customers earn one point. Call 800-AXP-8800.
Credit card companies are getting in the mix as well. Last year, Bank of America launched Travel Choices Visa card. Every dollar charged earns one point; 25,000 points equals a roundtrip flight within the U.S. Call 800-349-BOFA.