How to Earn Points on Your Savings and Investments
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PocketCasts Key Takeaways
- You can earn airline miles and transferable reward points on money you are already saving or investing by utilizing specialized financial products.
- Bask Bank allows savers to earn American Airlines miles based on their cash savings balance rather than traditional cash interest.
- Brokerage rewards programs like Silo enable investors to earn points on their investment accounts, though it is important to evaluate changing terms and welcome offers.
- Platforms like Symphony offer higher-yield approaches and point-earning structures by allocating funds across various buckets including Treasury bills, CLOs, private credit, and crypto lending.
- When evaluating products that help you earn points on savings, it is critical to weigh the tradeoff between the value of the rewards and the underlying risks and fees.
#298: Chris breaks down how to earn airline miles and transferable points on money you’re already saving or investing (and whether the rewards are actually worth the tradeoffs). He compares mileage-earning bank accounts from Bask, United and Alaska, the new Bank of America and Alaska transfer partnership, Silo’s brokerage rewards program, and Symphony’s higher-yield approach. Plus, the welcome offers ending this fall that change the first-year math, and a short interview with Symphony's founders.
Link to Full Show Notes: https://chrishutchins.com/earn-points-on-savings/
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Resources Mentioned
- Silo Markets (← 250k Bonus)
- Symphony (← Referral Bonus)
- Bask Bank
- Atmos debit card (← 20% off coupon)
- Odynn
- point.me
ATH Podcast
#131: Maximize Earnings on Cash, CD Ladders, Bank Bonuses, Bulk Buying, and Automating Returns
#195: 50+ Ways to Earn More Points and Miles Without Spending More
#262: Points & Miles in 2026: What's New, What's Dying & What's Next with Brian M
AMA: Submit Questions
Leave a review: Apple Podcasts | Spotify
Email for questions, hacks, deals, and feedback: podcast@chrishutchins.com
Full Show Notes
(00:00) Introduction
(00:50) How to Earn Points on Your Savings
(05:01) Bank Accounts That Pay Airline Miles
(05:41) Earning American Miles with Bask Bank
(14:13) Why United's Mileage Debit Card Falls Short
(17:09) Alaska’s Upcoming Rewards Banking Account
(17:48) Boosting Bank of America Points, Now Transferable to Alaska
(20:29) How Silo Pays Points on Your Brokerage Account
(26:22) Changes Coming to Silo on November 1st
(32:40) Silo's New Welcome Bonus
(35:52) Can You Trust Silo With Your Investments?
(36:31) Earning 5% or 5X Points with Symphony
(38:52) Where Your Money Actually Goes at Symphony
(39:22) Bucket 1: Treasury Bills
(40:18) Bucket 2: CLOs
(41:37) Bucket 3: Private Credit
(43:24) Bucket 4: Crypto Lending
(46:20) Pooled Accounts and SIPC Protection
(46:57) What the Crypto Wallet Does (and Doesn't) Protect
(47:33) How Fast You Can Get Your Money Out
(49:17) Risk #1: The Rate Gets Cut
(49:55) Risk #2: Withdrawals Slow Down
(50:17) Risk #3: You Lose Part of Your Investment
(51:05) Risk #4: An FTX-Style Collapse
(51:49) My Overall Take on Symphony
(54:21) Breaking Down Symphony's Welcome Offer
(57:04) Recap: Mileage Bank Accounts
(58:38) Recap: Silo
(59:57) Recap: Symphony
(01:02:02) Interview with Symphony's Founders
(01:04:01) How Symphony Layers Its Risk Protection
(01:08:02) What Happens If Everyone Withdraws at Once
(01:09:54) Why the Blockchain Ledger Matters If Symphony Goes Away
(01:16:15) What’s Next: Transfer Partners, Experiences and AI Booking
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Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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Connect with Chris
Newsletter | Membership | X | Instagram | LinkedIn
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Frequently Asked Questions
How can I earn points on savings accounts?
You can earn points on savings by using specialized banking and brokerage products, such as Bask Bank, which rewards account holders with American Airlines miles instead of traditional cash interest based on your average balance.
What is Silo and how does it relate to earning points?
Silo is a brokerage rewards program that allows investors to earn points on their brokerage account balances, offering opportunities to maximize rewards on money you are already investing.
Are mileage-earning bank accounts worth the tradeoffs?
Whether mileage-earning bank accounts are worth it depends on how you value the airline miles compared to the forgone high-yield cash interest you could earn in a traditional high-yield savings account.
How does Symphony generate higher yields and rewards?
Symphony approaches higher yields and point generation by allocating user funds across multiple risk buckets, including Treasury bills, collateralized loan obligations (CLOs), private credit, and crypto lending.