Back in December 2011 I wrote about earning big miles for funding brokerage accounts.
At the time you could earn up to 50,000 miles from your choice of either American, United, or Delta with a deposit of $100,000. But the trick was that you could cycle the same money in and out of the account and all that mattered was that the sum of the deposits needed to total $100,000.
I did just that. I put money in, took it out, put it back, took it out, and so on in order to earn 50,000 American miles.
Unfortunately ‘cycling’ no longer seems to be possible to earn signup bonuses from Fidelity brokerage accounts. If you want the full 50,000 mile bonus, you actually have to deposit $100,000 into the account (cash and/or securities).
On the other hand, for both of my readers that have that sort of cash or investment assets that can be moved into a Fidelity brokerage account, not only are these big mileage offers but you can earn more than one offer.
The current rule seems to be that you can earn one bonus per rolling 12 month period. So earn United or American miles, wait 12 months, then earn 50,000 Delta miles.
But the Delta offer specifically says “available to new or existing Fidelity brokerage account customers” (emphasis mine).
With each of these offers, Fidelity will give you up to 50,000 miles based on the amount you deposit into your account within 90 days of opening.
- 15,000 miles for a $25,000 deposit
- 25,000 miles for a $50,000 deposit
- 50,000 miles for a $100,000 deposit
Then come back a year later and try again with Delta.
Occasionally there are other offers from Fidelity as well, sometimes there are offers of up to 50,000 American Express Membership Rewards points and sometimes offers of gift cards as well.
When I opened my Fidelity account for the American bonus I didn’t see any credit pull, so no tradeoff with credit card signup bonuses.
Sad to see cycling no longer an option for these bonuses, which makes the full 50,000 miles out of reach for most. And also sad to see that TD Ameritrade no longer appears to be offering miles for account funding.