churning TD Bank Cash Rewards
Sorry if this is posted somewhere, I was unable to find the thread.
For the first 6 months after sign up, you get 5% cash back on groceries, gas and cable, phone and utility bill payments with the TD Bank Cash Rewards card. The utility bill payments are a big deal for me, since this is the only card that I know of right now that gives 5% on electricity and gas bills. One could buy gift cards and use them to pay your utilities, but that has additional fees in buying the gift card (not to mention that there are much cheaper ways of getting money off of visa/mc gift cards).
In any case, I recently found out that you can churn these cards. I closed my account in January 2013, and re-applied in September 2013, and they gave me the 5% bonus for 6 months again! They said you are considered a new customer after 3 months of closing your CC, so a husband and wife could get the 5% bonus indefinitely by applying and closing accounts.
Note, it is not easy to apply for this card; you either have to have an account with TD Bank or apply in person at a branch. Gotta love the Canadians.