TD Ameritrade is offering 25,000 United Mileage Plus miles for opening a brokerage account and funding it with $50,000. You must open and fund the account by March 31, 2009 and keep the account balance at $50,000 for at least 9 months. After the first six weeks of account funding you'll receive the first half of our miles. The second half will be given 6 months after the first posting is made. If you withdraw your money before the 9 months, TD Ameritrade will charge you for the cost of the miles. How they will calculate that cost is unclear.
So is this a good deal? 25,000 miles can get you a roundtrip ticket on United flying anywhere in the continential US. Depending on where you go that could be worth $150-$1,000.
If you took the $50,000 and deposited it into the top 12 month CD rate currently paying 3.5% APY, you'd earn 1,312. It's unclear how taxes are calculated on the miles award but that may make a small difference.
Overall, if you are looking at it from just a rewards perspective, it's better to put your money into a 1 year CD or even a top rated savings account. But if you plan on opening a brokerage account anyway, it's not a bad offer.
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