Rate.com (formerly Guaranteed Rate) used to have a partnership with United Airlines which offered bonus MileagePlus miles when taking out a new mortgage or refinancing with them. That partnership seems to have ended, but they’ve struck up a new partnership with Alaska Airlines which awards 50,000 bonus Mileage Plan miles upon completion.
The Deal
- Earn 50,000 bonus Alaska Airlines miles when taking out a mortgage with Rate.com.
- Direct link to offer.
Key Terms
- Credit of 50,000 Alaska Mileage Plan miles will post directly to member account within 6-8 weeks of closing with Rate.
- Offer valid on new applications received between 1/01/2025 and 12/31/2025.
- This offer is only available to clients who call the dedicated benefit phone number or go through the dedicated benefit website.
- Awarded miles can only be credited to the lead borrower or co-borrower’s Alaska Mileage Plan account.
- This offer cannot be retroactively applied to previously closed loans or loans already in process. Rate reserves the right to cancel this offer at any time.
- Not valid with any other discount or promotion.
Quick Thoughts
50,000 bonus miles is a great reward seeing as it’s rare to get an opportunity to earn points/miles when taking out a new mortgage or refinancing an existing one.
A key thing to bear in mind is that it’s not going to be worth going after this offer if Rate.com’s interest rate and/or fees mean that your repayments would cost more than the value of the miles compared to what’s available to you through another lender.
What’s particularly nice about this offer is that it doesn’t appear to be an “up to” 50,000 miles offer, whereby you earn 1 mile for every, say, $10 you borrow. Instead, it seems to be a 50,000 mile lump sum regardless of how much you borrow. That could make it particularly enticing for someone who’s refinancing with a low remaining balance on their mortgage. Again though, make sure the rewards are worth the fees you’d be paying for doing that.
Want to learn more about miles and points? Subscribe to email updates or check out our podcast on your favorite podcast platform.
For what it’s worth, we used Guaranteed Rate for our mortgage in March 2022 and were very pleased with the process.
Our mortgage broker helped us lock in a competitive rate right before interests rates started to rise in March 2022 (Russia / Ukraine war).
This is my only data point regarding going through the mortgage process, but I would definitely consider using them again.