Author Topic: Fidelity United Airlines offer  (Read 2627 times)

Travis

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Fidelity United Airlines offer
« on: July 27, 2016, 10:41:43 PM »
I dabble in travel hacking and was linked an offer for signing up for a Fidelity account.  If I were to deposit $100k I would earn 50k United points (worth $500 in airline tickets).  It appears that there would be an $8 fee for the transfer.  It doesn't say how long the money needs to stay there.  I'm also not clear on if there would be any costs to getting the money back into my Vanguard account, or opportunity costs for splitting my money in half for whatever the required period ends up being. Has anyone done this offer or know what costs might be involved?

https://rewards.fidelity.com/offers/united?ccsource=alliance

johnny847

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Re: Fidelity United Airlines offer
« Reply #1 on: July 27, 2016, 11:11:44 PM »
Never tried it before, but one more consideration - if you're transferring assets in a taxable account you want to make sure that Fidelity gets the correct cost basis information

TheAnonOne

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Re: Fidelity United Airlines offer
« Reply #2 on: July 28, 2016, 10:26:17 AM »
$100,000 transfer to make $500 that may or may not even be a true $500 value to you unless you already had plans to spend that money on flights with united.

Market might go up .5% in that window and ruin your return as well...

Stick with the credit card signup bonuses...

mbl

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Re: Fidelity United Airlines offer
« Reply #3 on: July 28, 2016, 11:18:36 AM »
They will deposit $600 into your account at the $100k level.
I'd take the cash.

rachael talcott

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Re: Fidelity United Airlines offer
« Reply #4 on: July 29, 2016, 07:37:42 AM »
At one point Fidelity wanted to charge me $100 to close out an old account in order to roll the money into my Vanguard account.  Read the fine print about getting your money back from them.

golfreak12

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Re: Fidelity United Airlines offer
« Reply #5 on: July 30, 2016, 09:47:18 AM »
I did this but I signed up for their regular checking account I think. Read on what accounts are eligible.
I transfered $50K a while ago(maybe 3-4 yrs ago) and got 25k miles(I think). After I got my miles, I trasnfered the money back to my regular checking account. Now I still have the Fidelity account till now.
So last month, I transferred $50K back to my Fidelity account and guessed what I got another 25K miles. And just last week, I pulled most of that money back to my regular checking account.
I don't know how often they let you do this but I will wait out another yr or 2 and try it again.

slowsynapse

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Re: Fidelity United Airlines offer
« Reply #6 on: July 30, 2016, 10:04:01 AM »
I remember reading some news stories where the value of the airline tickets was included in the 1099-INT so people had to pay tax on the value.  I will try to find the stories but thought I would bring it up in case others had the same experience.