Bank of America has a targeted promotion offering 25,000 Alaska Miles when you open a personal checking account. The bonus is available to customers who receive a direct communication and open an account between May 24, 2015 and July 31, 2015. However is the past, people have been able to receive the bonus even without being targeted.
To receive the 25,000 Alaska Miles bonus, one must open a new Bank of America Core Checking (this is the best option with a waivable $12 monthly fee) OR Bank of America Interest Checking personal checking account and receive two Qualifying Direct Deposits of $2,000 or more each within 90 days from account opening. The miles will be credited within 60 days of meeting the requirements.
There’s a limit of one per customer and as usual you’ll receive a 1099, so you’ll have to pay taxes on it. But here it gets tricky. With a cash bonus you know what to expect once the tax season starts. With a miles bonus, the taxes you pay will depend on how much BofA values the Alaska miles.
As I mentioned above, this is a targeted offer but it doesn’t hurt to try it out by printing it and visiting your local Bank of America branch or just calling or chatting online. Ask them if they can honor it, and if they do, make sure to have proof of it, in case they refuse to honor it later on. You probably have a better chance of receiving the bonus if you have a BofA credit card, since they often run similar promotions for customers who don’t have a checking account with them.
I asked a customer service rep through their online chat feature about the promotion, and he seemed to just cope and paste the terms of the offer. When I asked if I would be eligible since I didn’t receive direct communication, he said no. I might try a branch, since it’s a bit harder to say no to a customer face to face after he made the trip to the bank.
Even though I’m not sure how much I’ll get taxed on these bonus miles, I’d go for it if I get confirmation that I will receive the bonus. I was approved for two BofA Alaskan Airlines credit cards so I’d like to stack up a few more miles.
Let us know if you have had any previous experience with BofA with such targeted offers.
- Apply Here (or print)
- Account Type: Core Checking OR Interest Checking
- Availability: To those Targeted nationwide
- Expiration Date: July 31, 2015
- Hard Inquiry: No, just soft pull
- Direct Deposit Requirement: Yes, two qualifying direct deposits of $2,000+
- Monthly Fee: The $12 fee with Core Checking is waived with at least one qualifying direct deposit of $250 OR average daily balance of $1,500 each billing cycle
- Closing Account Fee: No