Free 500 miles from United (maybe)

A couple of hours ago I received an email from United about a promotion for 500 free United miles just for checking your personal loan rate from Prosper through WebBank, a Utah based FDIC insured institution. The promotion also awards 1 mile per dollar borrowed up to $35,000, or 35,000 United miles. Here is the landing page.

United

According to the email fine print, the 500 miles bonus is limited to the first 2,500 applicants, and you need to get past the first screen where you submit some of your personal information, but no social security number. The first screen does ask for a date of birth, but I put a fake one in. After you complete the first screen to get your rate, there was no confirmation that I had qualified to earn the 500 miles, so this is just a shot in the dark and I’m hoping the miles post.

Here’s the fine print:
500 BONUS MILES PROMOTION. Prospective borrowers are eligible to receive 500 bonus miles by completing an application. To be eligible for these 500 bonus miles, borrowers must complete the “Get a Custom Rate in 1 Click” section. This promotion can only be credited to an individual MileagePlus number once and is limited to the first 2,500 MileagePlus members that apply by June 13, 2014. All other conditions apply.

For the lending part, do this at your own risk. Theoretically if you don’t need the money, you can simply pay it back right away and get 35,000 free miles. However, the fine print is very scant, and my rate came back at 13.73%.

UnitedThat works out to approximately $400 per month in interest on the maximum $35,000 loan, and if some time passes between the time you get the money and pay it back, or if they require a minimum payment cycle of at least 1 month, that will probably negate the value you can get out of the 35,000 United miles.

In my opinion, this offer is probably good only for the 500 free miles if you can get in as one of the first 2,500 applicants. I would take screen shots so that you can hopefully claim them if they don’t post. 500 miles is not a lot, but they are free and it’s a good way to reset the expiration clock on your miles.

 

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