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Maximize your return on adventure by earning miles on your savings.
Earn 2.5 American Airlines AAdvantage® miles for every $1 saved annually when you open a Spectrum Mileage Savings Account.
We’re committed to helping you reach your savings goals while offering a different type of reward: American Airlines AAdvantage® miles, so your savings can take you farther.
Can I take my money out of Spectrum Bank at any time? How will it affect my AAdvantage® miles?
Of course, it’s your money! If you choose to withdraw any portion of your savings from Spectrum Bank, you will be rewarded based on the average monthly balance maintained in your account.
What can I do with the AAdvantage® miles I earn with Spectrum Bank?
Miles that you earn through Spectrum Bank will be added to your AAdvantage® account and you can use these AAdvantage® miles like others you earn from AAdvantage® partners. Please note, however, that AAdvantage® miles awarded through Spectrum Bank do not apply toward boosting your elite status.
Have other questions?
Check out our FAQ.
What Our Customers Say
We’ve been collecting feedback and the reviews are in. Here’s what people are saying about Spectrum Bank.
“Wow! Excellent web design with simplistic process to easily allow the creation of a savings account. Online transfers are easy and very efficient. Great job. I look forward to seeing the miles build up and roll over into my AAdvantage® account.”
— Randy
Rehoboth Beach, DE
“Great idea for a different way to earn miles.”
— Charles
Dayton, KY
“Excellent way to earn miles without a credit card.”
— Brett
Freehold, NJ
Special Offer
Earn up to 5,000 Bonus AAdvantage<sup>®</sup> miles.
To qualify for this offer, you must be a first time Spectrum Mileage Savings Account customer, open a Spectrum Mileage Savings Account between December 1, 2023 and September 29, 2024, fund your Spectrum Mileage Savings Account within 15 business days following the initial account opening and maintain a minimum daily account balance of $25,000 for 90 consecutive days out of the first 120 days following the initial account opening.
AAdvantage<sup>®</sup> bonus miles are awarded within 10 business days upon meeting offer qualifications and may take 6 to 8 weeks to post to your AAdvantage<sup>®</sup> account. The value of this bonus offer will be reported to the IRS, and the recipient is responsible for any federal, state or local taxes on this offer.
Frequently Asked Questions
How do I earn American Airlines AAdvantage® miles?
The Spectrum Mileage Savings Account awards 2.5 AAdvantage® miles for every dollar saved annually. Miles accrue daily and are awarded monthly based on your average monthly balance. For example, if the account’s daily balance for January is $60K, you will earn 12,740 AAdvantage® miles for that month ([$60K X 2.5] ÷ 365 × 31).
Note: The number of days is specific for each month being calculated. If that same balance is maintained in February, you will earn 11,507 AAdvantage® miles, since February has 28 days. After one year of maintaining an average balance of $60,000, the customer will have earned 150,000 AAdvantage® miles. As long as you maintain a balance in your Spectrum Mileage Savings Account, you will continue earning AAdvantage® miles.
For more information, see full details within our Account Agreement, Terms & Disclosures. Rates are subject to change. AAdvantage® miles awarded through Spectrum Bank do not count toward elite status qualification or AAdvantage® Million Miler status.
When will mileage awards be processed and posted to my AAdvantage® account?
You will start earning AAdvantage® miles on the business day we receive your deposit. Spectrum Bank awards the miles you earn for maintaining a balance each month on or before the fifth business day of the following month. For example, AAdvantage® miles earned throughout January will be posted in your Spectrum Mileage Savings Account on or before the 5th business day of February. Miles earned through Spectrum Bank will post to your linked AAdvantage® account within six to eight weeks.
If applicable, bonus AAdvantage® miles are awarded based on terms of the specific bonus offer. See the Bonus Miles Terms and Conditions for additional information.
Before earning miles, you must provide your AAdvantage® number to link your Spectrum Bank account. If you do not link the correct AAdvantage® number, miles earned through Spectrum Bank will not post to your American Airlines account.
How do additional deposits and withdrawals impact my earning?
AAdvantage® miles are accrued daily and awarded based on your average monthly balance. If you deposit more, you will earn more miles. If you make a withdrawal, your earned miles will decrease. For example, if you start with $36,500 you will accrue 250 AAdvantage® miles each day that you maintain that balance. If you then withdraw $10,000 and your new balance is $26,500, you will accrue 182 AAdvantage® miles each day. If you take all your money out in the middle of the month, you will have earned miles for the days where you maintained a balance.
Are AAdvantage® miles earned through Spectrum Bank taxable?
AAdvantage® miles awarded by Spectrum Bank for maintaining a deposit balance are viewed as interest income. This income will be reportable to the IRS and to you for the year in which the miles were posted to your AAdvantage® account. Spectrum Bank calculates an interest equivalent based on a good faith estimate of the value of the miles. Your interest rate and annual percentage yield may change based on a change in either the miles award rate or the estimated value. For tax purposes, miles are considered to have a value of 0.42 cents. At our current rate of 2.5 miles per dollar saved annually, this represents a taxable APY of 1.05%.
AAdvantage® bonus miles awarded for other activities will also be considered reportable as either miscellaneous income or interest income, depending on the nature of the award. Spectrum Bank will issue each customer the appropriate IRS Form 1099-INT for the AAdvantage® miles awarded each calendar year by January 31. For more information, visit our Account Agreement, Terms & Disclosures.
Spectrum Bank is not an accounting firm or law firm and is not offering tax or legal advice. Please consult with an appropriate professional regarding any questions about your personal taxes.
Mile awards are subject to change at Spectrum Bank’s sole discretion. Please see Terms and Disclosures for details.
American Airlines reserves the right to change the AAdvantage® program and its terms and conditions at any time without notice and to end the AAdvantage® program with six months notice. Any such changes may affect your ability to use the awards or mileage credits that you have accumulated. Unless specified, AAdvantage® miles earned through this promotion/offer do not count toward elite-status qualification or AAdvantage® Million MilerSM status. American Airlines is not responsible for products or services offered by other participating companies. For complete details about the AAdvantage® program, visit aa.com/aadvantage.