Monday, August 1st, 2016, 12:27 pm
I don’t usually write about giveaways, but we’re talking about a billion miles here 🙂
Every time you use your Chase United card in August and September you’ll get a raffle entry, but you can also enter as many times as you want even if you don’t have a card or make a purchase by entering your information here.
Winners will be drawn on 10/15.
-100 people will win 1 million United miles and $7,500 cash. The miles are valued at 2 cents each, so winners will also get a 1099 for $27,500. If you have a combined marginal state and federal tax rate of 33% you would owe some $9,000 in taxes if you win, so it’s a good thing the prize comes with cash and points 🙂
Even if you wind up having to pay a couple thousand dollars in taxes it’s still not a bad deal for enough miles to fly around the world in first class several times.
-10,000 people will win 25,000 United miles. The ARV is $500, as the ARV is less than $600, you shouldn’t get a 1099.
-130,000 people will win 5,000 United miles. The ARV is $100, as the ARV is less than $600, you shouldn’t get a 1099.