New offer from Bask Bank enables earning up to 82,500 airline miles without spending

The value proposition is significant when considering tax implications. If AAdvantage® miles are valued at 1.5 cents each, earning 2.5 miles per dollar saved annually equates to a return of approximately 3.75%. Bask Bank reports these earnings at a value of 0.42 cents per mile for tax purposes.

Earning 82,500 miles (worth $1,237.50) from saving $50,000 over six months would generate a tax report showing a value of $346.50. Assuming a combined federal and state income tax rate of 47%, taxes would amount to $162.86, resulting in net earnings of $1,074.64 after taxes.

Compared to hypothetical savings accounts offering an Annual Percentage Yield (APY) of up to 5.50%, which are rare or non-existent in the current market environment—the same deposit would yield significantly less after taxes.

Bask Bank was launched by Texas Capital Bank in January 2020 and has progressively increased its earning rates from an initial one mile per dollar saved annually to the current rate of 2.5 miles per dollar saved annually.

This promotion provides an aggressive incentive for potential customers to open an account and hold substantial deposits with Bask Bank while earning valuable travel rewards through American Airlines' AAdvantage® program.

Texas Capital Bank d/b/a Texas Capital is FDIC insured and operates Bask Bank as its division.

Mile awards are subject to change at Bask Bank’s discretion; terms and disclosures apply.

American Airlines reserves rights concerning changes to its AAdvantage® program without notice.

For more details about the AAdvantage® program visit aa.com/aadvantage.