Bask Bank Mileage Savings account review
Read this Bask Bank Mileage Savings account review article to learn how to earn American Airlines AAdvantage miles while keeping your balance connected to your travel goals.
Bask Bank Mileage Savings account: earn American Airlines AAdvantage miles with no fees and minimum
If you are a frequent traveler that uses most of the times American Airlines on your flights, you should consider checking this Bask Bank Mileage Savings account review.
Bask Bank is a digital bank launched in 2020. It is part of Texas Capital Bank, a financial institution that has been partnered with American Airlines since at least 2002.
Its savings account allows you to earn something different. It offers miles you can use on travels with American Airlines.
So, take a look at how it works right below.
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How does the Bask Bank Mileage Savings account work?
Bask Bank is a new digital bank that recently delivered a savings account with a bit of extra. Basically, each dollar saved matches annually to one AAdvantage mile earned.
So, instead of interest, you earn miles. The amount is calculated each month based on your average monthly balance and multiplied by the Monthly Mile Award Rate.
This type of account is a fantastic option for frequent travelers who fly with American Airlines. Also, you must know that you need to be a member of its program so that the Bask Bank account can transfer the miles saved into your AAdvantage account.
The account doesn’t charge fees, and there is no minimum deposit needed to open. However, you need to deposit something within at least 60 days to prevent inactivity and closure.
In addition, this savings account is FDIC-insured, and you can manage your account the same as you would with any other type of it.
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Bask Bank Mileage Savings account benefits
This account is great for those who travel a lot and use American Airlines as a primary option for flights.
Also, if you are already an AAdvantage member, the Bask Bank account might be worth considering.
Instead of interest cash, you earn miles. There are no fees or account minimums.
On the other hand, you should know that the amount of miles earned is based on the mileage rate, and it changes.
Furthermore, Bask Bank charges a high outgoing wire transfer fee, and it doesn’t offer an ATM card.
- Great for those who frequent travel with American Airlines or plan to become an AAdvantage member;
- It offers miles instead of cash interest;
- It is FDIC-insured;
- There are no fees or account minimums;
- You can manage your Bask Bank savings like any other type of account.
- There is no APY;
- You need to be an AAdvantage member;
- It charges a high outgoing wire transfer fee;
- It doesn’t offer an ATM card.
How good does your credit score need to be?
There is no information disclosed about it. But, since it is a savings account, your credit score shouldn’t be an issue for you to apply.
How to apply for a Bask Bank Mileage Savings account?
If you are a frequent American Airlines traveler, a Bask Bank Mileage Savings account might be just what you need. Check out how to apply for it!
About the author / Aline Augusto
Reviewed by / Aline Barbosa
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