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Jan B
Jan B

Reviewed. Deleted

Mikey
Mikey

This offer makes sense if you aren’t eligible for a cash bonus for a year or two (depending on the last time you got one). We need to know if a recently closed CHASE account mandates the same 90 day waiting period stipulated for cash bonuses. There’s also no guarantee CHASE will offer the same cash signup bonuses as in the past. So, you get a sure thing (with no $15K tied up in dismal savings for 3 months).

Jan B
Jan B

I have a positive 2cents message, too. (if no tax implications)

To be able to have a WN nonstop from my area on points without worrying about another tax document and amount to hold to until next year would be a happy face event. I can’t seem to obtain anything worthwhile from Chase, so, if I got this email, my next stop: SWA.com

ian
ian

If checking account bonuses are paid as miles, doesn’t that make them your property? They’re treated as interest, you pay tax on them, etc. Would make for an interesting case against shutdowns (take note AA…)

Stryker
Stryker

Do you pay taxes on airline miles? I thought IRS determined that airline miles are not taxable unlike cash bonuses.

dawgchow33
dawgchow33

I’ve definitely received 1099-INTs from Chase for points accrued from referrals, at least. I’ve similarly been taxed on these account opening bonuses when they were paid in cash. I kind of expect that’ll apply here too.

frank rizzo
frank rizzo

You don’t pay taxes on airline miles when earned with a credit card because the IRS considers them a rebate on money spent. Now if you get airline miles on credit card referral bonuses, they will be taxed if you have more than $600 worth. Chase values them at 1 cent per point. This is because these points do not require spending any money. Since no money is spent, it can’t be considered a rebate. Because of this, I would assume Chase would consider any miles earned for a checking/savings account bonus money earned and therefore taxable.

Jan B
Jan B

deleted

aqua
aqua

If the points awarded counts toward companion pass then it might make sense to do this one.