For some time Fidelity has offered brokerage bonuses of up to 50,000 miles with American Airlines, United Airlines & Delta Airlines. The bonuses are tiered as follows:
- Deposit $25,000+ & receive 15,000 miles
- Deposit $50,000+ & receive 25,000 miles
- Deposit $100,000+ & receive 50,000 miles
Reader UAPhil recently went into a branch to sign up for one of these offers and was told that these offers will no longer be available from March onwards. It’s entirely possible that the person he spoke to was misinformed or putting time pressure on (although that’s unlikely as he was already signing up). I know some people love these offers, so thought this was worth sharing.
FYI it is indeed dead right now. I’m looking to move over funds and chatted with someone, but it’s not available.
Links dead
The offers expire and get replaced periodically. Maybe Gary knows best here but I would normally say the expiration date is an ordinary occurance.
Any data points on if the value of the miles received are taxable?
I’ve never received a 1099 from them for the value of the miles.
Here’s a data point. Just signed up today (first day I could since I did it last year (and the year before). Rep told me this was definitely going away at the end of March for United, Delta and American in order to “simplify Fidelity’s promotions”.
I already have my 401k and a roll-over IRA account with Fidelity. Opening this new brokerage account was instant and a breeze for existing customers. Thanks for the tip, just opened one now.
4.95 trades mean cuts somewhere.
Don’t transfer cash for this bonus since they allow in-kind transfers of stocks, bonds, and mutual funds. Instead, transfer low-cost index funds like VTSAX so you can earn money while you wait out the required nine months.
+1. If you can, just move 100K of your existing stocks and bonds over. They also offer CD’s, but you’ll lose a little cash because they act as a middle man and take a cut of the points.
Don”t you have to pay fees to move your stock from another brokerage to fidelity? I have almost 100K in stocks at CapitalOne Investing, so this may be an option. TIA.
I’ve always had the “receiving” brokerage house cover the costs of any fees that the “sending” brokerage house might impose. Just ask them to do this before you move the securities/funds.
All three offers listed by Fidelity have been changed to say “This offer expires March 31, 2017”. Since this a change from later dates, it appears to be deliberate. Sad loss of a great opportunity.
What were the dates prior to today? Historically, the 3 airline miles bonus offers with Fidelity expired at the end of each quarter. It’ll be sad if it goes away; the same way TD Ameritrade had bonus offers with Delta, United (and Continental), US Airways, American, Amtrak, and Starwood (2012).
The bank person might have meant the current offer expires on March 31. I believe the offer gets renewed every year for an year.