This offer has been around for a little bit, but I just ended up applying yesterday. Even though Delta Skymiles are a bit harder to redeem than some of the other airlines, this is still a great offer that I am taking advantage of. For those of you still working on repairing your credit, this is a nice alternative to still earn miles until you can qualify for some of the more juicy credit card offers.
The details are you get 15,000 miles for opening one of the three accounts listed and establishing direct deposit of $100 or more. Then another 15,000 for your first use of the Skymiles Visa Debit card when you use it as a Visa (not as an ATM or Debit card). You have to pay the $75 for an annual fee for the Visa Checkcard that comes out after your first statement, and open the account with $100. The Balanced Banking account is fee free for the first two months, then will start charging a $12 monthly fee if you don’t maintain a $3,000 minimum balance. There is additionally a $25 fee to close the account before six months.
The best way to attack it if you want to earn and burn is to park $3000 there for six months to avoid the closure fee and the monthly fees. Another way is to open the account, try your best to get the minimum requirements met before the fees start after two months, close it and pay the $25 closure fee. This would give you a cost of $100 for 30,000 miles or .33 cents a mile which is great since you usually get at least 2 cents per mile on redemption. And of course you can always keep the account open and use it as your primary checking account, earning miles for every time you swipe the check card as a Visa.
If you want to take advantage of this nice offer like I did, then click here now to sign up. But hurry, You have to sign up for this offer by June 30th, but you have until July 31st to make your first purchase and by September 30 to take care of the direct deposit.