This deal has been around forever but a post on Flyertalk made me take another look at it.

If you open a checking account with Guaranty Bank you get a 2,000 AA sign up bonus. Less important for most is the 1,000 mile additional bonus for a direct deposit every month, It must be $250 a month or more.

The intriguing thing to me, and Guaranty Bank has caught on as well is that with interest rates as low as they are, earning an additional AA mile for every $10 of average daily balance each month may make more sense than the pittance your bank gives you in your checking account. Not that I keep this amount in my checking account but if you did have an average balance $10,000 you would earn 12000 AA miles. At 1.5 cents value per mile each that is $180. Does your checking account pay you anything at all?

And the added benefit for infrequent flyers and miles collectors is as long as you keep a $100 minimum balance, you earn miles every month and your AA balance is safe from expiration.

Give it some thought. It may work for you, and if it does, I’ll gladly refer you and pick up a referral for myself as well.

Here is the link and don’t forget the promo code AR1234567

Terms and Conditions

The Annual Percentage Yield (APY) as of 3/1/09 was 0.15% and is subject to change. Bonus offers are available for a limited time only. The minimum balance to open the account and earn the account opening bonus miles is $100. There is no minimum balance required to earn the direct deposit AAdvantage® bonus miles. The account opening bonus miles are earned upon opening your new AirMiles Checking account. The bonus for direct deposit is earned when you activate direct deposit. Direct deposit must be initiated within 60 days of opening your AirMiles Checking account and must be at least $250/month or the direct deposit bonus will be reversed. All bonus miles will be reported within 30 days of the last day of the applicable statement cycle. Another Guaranty Bank account cannot be converted, closed or its balance reduced below the minimum opening balance to open the account and receive the account opening bonus. Conditions and limitations apply. Guaranty Bank is a Member FDIC.

American Airlines reserves the right to change AAdvantage program rules, regulations, travel awards and special offers 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 mileage awards or credits that you have accumulated. Members may not be able to obtain all offered awards at all times or use awards for all destinations or on all flights. AAdvantage travel awards, mileage accrual and special offers are subject to government regulations. American Airlines is not responsible for products or services offered by other participating companies. For complete details about the AAdvantage program, visit www.aa.com/aadvantage. AmericanAirlines and AAdvantage are registered trademarks of American Airlines, Inc.