Fidelity Offers A Round-Trip to Europe for New Account
- noyopacific
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Fidelity Offers A Round-Trip to Europe for New Account
If anyone is interested, we got an offer from American Airlines on behalf of Fidelity a few days ago.
My wife loves her airline miles so she called to find out what the deal was.
50,000 frequent flyer miles for a new account (a non–retirement brokerage account) with $100,000 / 9 months minimum deposit.
(A round trip flight between the US & Europe starts at 40,000 miles for economy class. If you've never used frequent flyer miles to get an airline ticket, trust them when they say that "other restrictions may apply.")
https://rewards.fidelity.com/offers/aa? ... e=alliance
or call 800-369-8969
My wife loves her airline miles so she called to find out what the deal was.
50,000 frequent flyer miles for a new account (a non–retirement brokerage account) with $100,000 / 9 months minimum deposit.
(A round trip flight between the US & Europe starts at 40,000 miles for economy class. If you've never used frequent flyer miles to get an airline ticket, trust them when they say that "other restrictions may apply.")
https://rewards.fidelity.com/offers/aa? ... e=alliance
or call 800-369-8969
The information contained herein, while not guaranteed by us, has been obtained from from sources which have not in the past proved particularly reliable.
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Re: Fidelity Offers A Round-Trip to Europe for New Account
A round trip to Europe in coach is not what I would call a great enticement, even if you can actually score it (as you have indicated, there are restrictions).
Anyway, you can usually get the same deal by applying for a Citibank credit card and you don't have to deposit $100K for 9 months.
Anyway, you can usually get the same deal by applying for a Citibank credit card and you don't have to deposit $100K for 9 months.
In theory, theory and practice are identical. In practice, they often differ.
- TheTimeLord
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Re: Fidelity Offers A Round-Trip to Europe for New Account
You left out the most important part.
Earn up to 50,000 American Airlines AAdvantage miles when you open and fund a nonretirement brokerage account or add new money to an existing one.
Earn up to 50,000 American Airlines AAdvantage miles when you open and fund a nonretirement brokerage account or add new money to an existing one.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. |
Run, You Clever Boy! [9085]
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Re: Fidelity Offers A Round-Trip to Europe for New Account
we got our 50k miles within a week of confirming the deal. Easiest money ever, and airline miles aren't taxable income. Will buy us a $1000 coach ticket at the holidays.
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Re: Fidelity Offers A Round-Trip to Europe for New Account
Hmm, that is more interesting because I already have a brokerage account with them but may have some new money to add...StarbuxInvestor wrote:You left out the most important part.
Earn up to 50,000 American Airlines AAdvantage miles when you open and fund a nonretirement brokerage account or add new money to an existing one.
In theory, theory and practice are identical. In practice, they often differ.
Re: Fidelity Offers A Round-Trip to Europe for New Account
One can read (currently) 1995 posts on this topic here:
http://www.flyertalk.com/forum/milesbuz ... -only.html
Note the offers are for Delta, United, and AA. Other discussion about what those miles are worth and how to use them effectively can be read on this forum.
For all issues commercial air travel related Flyertalk is an excellent forum.
http://www.flyertalk.com/forum/milesbuz ... -only.html
Note the offers are for Delta, United, and AA. Other discussion about what those miles are worth and how to use them effectively can be read on this forum.
For all issues commercial air travel related Flyertalk is an excellent forum.
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Re: Fidelity Offers A Round-Trip to Europe for New Account
+1dbr wrote:One can read (currently) 1995 posts on this topic here:
http://www.flyertalk.com/forum/milesbuz ... -only.html
Note the offers are for Delta, United, and AA. Other discussion about what those miles are worth and how to use them effectively can be read on this forum.
For all issues commercial air travel related Flyertalk is an excellent forum.
In theory, theory and practice are identical. In practice, they often differ.
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Re: Fidelity Offers A Round-Trip to Europe for New Account
Read the FT thread first. Some of the Fidelity offers stack and must be done in a certain order.
Re: Fidelity Offers A Round-Trip to Europe for New Account
+1gkaplan wrote:I'd rather have a waffle iron.
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
Re: Fidelity Offers A Round-Trip to Europe for New Account
I"ll stay with Vanguard even without the waffle iron. But one of those Vanguard coffee cups that have heard about would be nice.gkaplan wrote:I'd rather have a waffle iron.
Re: Fidelity Offers A Round-Trip to Europe for New Account
I'm not flying anywhere.
Not gonna do it. na ga da.
Not gonna do it. na ga da.
Re: Fidelity Offers A Round-Trip to Europe for New Account
letsgobobby wrote:we got our 50k miles within a week of confirming the deal. Easiest money ever, and airline miles aren't taxable income. Will buy us a $1000 coach ticket at the holidays.
I got my miles right away too. I opened a Fidelity taxable account over the summer and took advantage of this offer. It was my first step to diversifying my custodian exposure away from 100% Vanguard.
Best wishes.
Andy
Re: Fidelity Offers A Round-Trip to Europe for New Account
I've looked into this as well as other savings account offers that American Airlines puts out with an offer of bonus miles. I like having all of my investments with vanguard and since this has to be a taxable account, in nine months I'd probsbly have to pay capital gains taxes
Re: Fidelity Offers A Round-Trip to Europe for New Account
How many people actually use their waffle irons?jdb wrote:I"ll stay with Vanguard even without the waffle iron. But one of those Vanguard coffee cups that have heard about would be nice.gkaplan wrote:I'd rather have a waffle iron.
i have a Vanguard blankie, nyah, nyah, nyah
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Re: Fidelity Offers A Round-Trip to Europe for New Account
I also had noticed this in the past, put not looked too deeply. This was a good reminder, though, as it may conveniently work this time (and I'm more able to travel at off-season times where we can more easily use FF flights). I think Fidelity expects to get a reasonable amount of stickiness due to the cap gains tax issues from the mainstream customers.WHL wrote:I've looked into this as well as other savings account offers that American Airlines puts out with an offer of bonus miles. I like having all of my investments with vanguard and since this has to be a taxable account, in nine months I'd probsbly have to pay capital gains taxes
Last edited by curmudgeon on Thu Oct 02, 2014 5:48 pm, edited 1 time in total.
- Crimsontide
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Re: Fidelity Offers A Round-Trip to Europe for New Account
We use ours about once a month, love my home-made waffles. I get plenty of miles from work travel anyways...lululu wrote:How many people actually use their waffle irons?jdb wrote:I"ll stay with Vanguard even without the waffle iron. But one of those Vanguard coffee cups that have heard about would be nice.gkaplan wrote:I'd rather have a waffle iron.
i have a Vanguard blankie, nyah, nyah, nyah
Re: Fidelity Offers A Round-Trip to Europe for New Account
Will they send me a 1099-INT for $1250 for taxes at the end of the year?
Re: Fidelity Offers A Round-Trip to Europe for New Account
Most offers to move assets from one broker to another allow transfer in kind. There are no sales and no taxes.WHL wrote:I've looked into this as well as other savings account offers that American Airlines puts out with an offer of bonus miles. I like having all of my investments with vanguard and since this has to be a taxable account, in nine months I'd probsbly have to pay capital gains taxes
Re: Fidelity Offers A Round-Trip to Europe for New Account
Rewards from brokers/airlines of frequent flier miles do not result in an income tax liability. Cash back offers do IAFAIK.joebloe wrote:Will they send me a 1099-INT for $1250 for taxes at the end of the year?
Re: Fidelity Offers A Round-Trip to Europe for New Account
I wonder how much that adds to their fund expense ratios?
Re: Fidelity Offers A Round-Trip to Europe for New Account
Just to clarify/confirm, "cash back" in the credit card sense is not taxable as it's considered a rebate (even if they give you cash). Cash bonuses (as in $150 for opening a checking account) are taxable.dbr wrote: Rewards from brokers/airlines of frequent flier miles do not result in an income tax liability. Cash back offers do IAFAIK.
I think this is what you intended, just wanted to clarify.
The enemy of a good plan is the dream of a perfect plan.
Re: Fidelity Offers A Round-Trip to Europe for New Account
The details might be complicated but I doubt they do this unless there is a profit for them in doing so. One very typical way to make money on the deal is from investors that move cash in an out of these accounts, including brokered CD's. Those assets earn the broker more than they pay out in interest and benefits. Assets can also be used for securities lending. They certainly count on reaping significant income from trades and conning people into managed accounts. A reading on Flyertalk would suggest that customers who avoid giving Fidelity opportunities to make substantial income from the accounts have been cut off, not that that would be a surprise. Of course a person can hold whatever funds they want, including Vanguard ETF's or even Vanguard funds, and the ER's on those cannot be affected by Fidelity.Jeff7 wrote:I wonder how much that adds to their fund expense ratios?
Re: Fidelity Offers A Round-Trip to Europe for New Account
Yes, for sure. It is a bonus and not a rebate.Brogleski wrote:Just to clarify/confirm, "cash back" in the credit card sense is not taxable as it's considered a rebate (even if they give you cash). Cash bonuses (as in $150 for opening a checking account) are taxable.dbr wrote: Rewards from brokers/airlines of frequent flier miles do not result in an income tax liability. Cash back offers do IAFAIK.
I think this is what you intended, just wanted to clarify.
I wonder if my mother ever paid income tax on her toasters.
Re: Fidelity Offers A Round-Trip to Europe for New Account
So, I'd have to use a commission free fidelity etf that matches my current vanguard holdings, then just transfer it over to a vanguard brokerage account? Sounding interesting now...dbr wrote:Most offers to move assets from one broker to another allow transfer in kind. There are no sales and no taxes.WHL wrote:I've looked into this as well as other savings account offers that American Airlines puts out with an offer of bonus miles. I like having all of my investments with vanguard and since this has to be a taxable account, in nine months I'd probsbly have to pay capital gains taxes
Still leaves me with a somewhat fragmented portfolio, even if fidelity offers extremely similar funds.
Re: Fidelity Offers A Round-Trip to Europe for New Account
I've also heard stories of Citi sending tax forms for some of their credit card bonus offers. It didn't happen to me with my two citi AA credit card sign up bonuses, however.
Re: Fidelity Offers A Round-Trip to Europe for New Account
You can transfer your existing Vanguard ETF to Fidelity. There would be no need to trade anything at Fidelity, presumably. You can transfer an existing Vanguard mutual fund to Fidelity as well and you don't have to buy or sell anything at Fidelity. Since Fidelity won't buy or sell Vanguard Admiral Funds they might not accept a transfer of such a thing, but you could ask.WHL wrote:So, I'd have to use a commission free fidelity etf that matches my current vanguard holdings, then just transfer it over to a vanguard brokerage account? Sounding interesting now...dbr wrote:Most offers to move assets from one broker to another allow transfer in kind. There are no sales and no taxes.WHL wrote:I've looked into this as well as other savings account offers that American Airlines puts out with an offer of bonus miles. I like having all of my investments with vanguard and since this has to be a taxable account, in nine months I'd probsbly have to pay capital gains taxes
Still leaves me with a somewhat fragmented portfolio, even if fidelity offers extremely similar funds.