Update: Readers have reported not getting the full amount of miles if they use or withdraw any part of their initial deposit. So don’t withdraw or use your deposit until the miles have posted to your account.
You can earn up to 50,000 American Airlines, Delta, or United miles when you open and transfer money into a non-retirement brokerage account with Fidelity. You can even get the miles when you add money to an existing Fidelity account.
You can also apply for either the same offer or a different offer 12 months after you finish depositing the money to get your miles.
Fidelity says that it can take up to 8 weeks to get the miles in your account.
You earn miles based on the amount you deposit in your account:
- 15,000 miles for a $25,000+ deposit
- 25,000 miles for a $50,000+ deposit
- 50,000 miles for a $100,000+ deposit
When the offer was first introduced, you could get the 50,000 miles by making one small deposit and taking the money out of your account and redepositing the money.
This meant that you could deposit $10,000 and then withdraw and re-deposit the $10,000 until the total amount deposited into your account was $100,000.
But Fidelity no longer allows you to cycle funds in an out of your account. You have to deposit the FULL amount to get the miles.
Your investment decisions are MUCH more important than earning extra miles. There is NO point in opening a Fidelity account if it will make it harder for you to manage your investments or if you will make riskier investments just for the miles.
The amounts involved are large, so please do your own research and talk to your financial planner before signing up for a Fidelity account.
1. Up To 50,000 Delta Airlines Miles
You can get up to 50,000 Delta miles when you open and transfer money into a non-retirement brokerage account with Fidelity or add money to a current account by February 14, 2014.
2. Up To 50,000 American Airlines Miles
You can get up to 50,000 American Airlines miles when you open and transfer money into a non-retirement brokerage account with Fidelity or add money to a current account by September 30, 2014.
3. Up To 50,000 United Miles
You can get up to 50,000 United miles when you open and transfer money into a non-retirement brokerage account with Fidelity or add money to a current account by October 31, 2014.
1. New Money
You must deposit new money (money from outside of Fidelity) within 30 days of registering for the offer AND the money must remain in your account for 6 months. If you use “old” money or withdraw the money before 6 months, Fidelity will take back the miles and you will likely not be allowed to participate in the promotion again.
This thread from Flyertalk recommends transferring stocks, bonds or mutual funds instead of depositing cash in your Fidelity account. Cash could be considered “old” money and may not get you the sign-up bonus for the second time.
If you are applying for the offer for the first time, you should be fine with depositing cash.
2. Once Every 12 Months
You can only participate in one promotion every 12 months. The terms and conditions say:
Promotional offers are limited to one per individual per rolling 12 months.
You can get 1 bonus every rolling 12 months per social security number.
So you could either get the same offer every 12 months, or you could choose a different promotion.
Unfortunately, retirement accounts are excluded from this promotion, so it is hard to find the money to deposit with Fidelity.
Certain types of accounts are excluded:
- Business accounts
- Trust accounts
- Mutual fund only accounts
- Retirement accounts
- Fiduciary accounts
- 529 college savings plan account
- Fidelity accounts managed by Strategic Advisers, Inc.
- Institutional Wealth Services (IWS) clients
- Clients of registered investment advisors working with Fidelity Investments
- Stock Plan Services accounts
Getting up to 50,000 miles for opening a non-retirement account is a good deal. But make sure that you are NOT doing anything silly with your money just to get the miles.
Your money and investment decisions are much more important than earning miles!