Last updated on January 1st, 2021 at 05:26 pm
Last month I managed to earn $200 cash back with a single purchase! For those of you that remember, in September I shared the start of my credit card churning journey with my post on how I earned my first 100,000 Aeroplan points. Since then I’ve made tactical move to earn $200 in cash back using a single credit card and a purchase I was already planning on making.
A New Card from TD
With the holidays coming up, I figured I should cash in on an attractive offer from TD. The offer was 10% cash back on my first $2,000 of spending using their TD Cash Back Visa Infinite card. Normally this card comes with a $120 per year fee, but this time around they were waiving the fee for all new applicants. At 10% cash back, this card is just about as good as it gets when it comes to earning rewards on your spending.
My strategy for using my TD Cash Back Visa Infinite card was simple. With my car insurance soon expiring, I planned to pay my premium for the year using my new card. That way I could earn the $200 cash back reward all with a single purchase.
You can see in the above screenshot how I was given a credit for the $120 credit card fee. I thought this might have counted towards my cash back reward, but it did not. I’ll have to put another $80 on this card to earn that last bit of bonus cash back.
Actually using this cash back is a bit annoying. I wish they would just let me pay my TD bill with the cash I earned using TD EasyWeb. Instead, I have to download the TD mobile app or create an account using their TD Rewards website. I opted to create an account with their rewards website and tried to redeem my cash back bonus. In doing this, I realized that I need to spend some more money with this card to actually benefit from cash back I earned. I’ll use it for a few more purchases and then put it away until I can product switch again.
A Product Switching Success
My strategy for acquiring this card didn’t even require an application or a credit check. Instead, I used my existing TD Aeroplan Visa Infinite card to get me in the door with TD. This is called “product switching” and I have to thank the Price of Travel blog for teaching me about this strategy. To complete my product switch I first called TD’s EasyLine telephone banking and got through to a credit card specialist. This took just a few minutes as I had already set up voice verification through their system. I explained to the specialist that it has been 6 months since I applied for my TD Aeroplan Visa Infinite card and that I’d like to product switch to their TD Cash Back Visa Infinite card.
The specialist was extremely helpful. He even confirmed that yes, I will be eligible for the 10% cash back bonus on my new card. He explained that my new card would be mailed to me, but that I didn’t need to wait because after 1 business day I could use my current TD Visa Infinite Card and it would accrue cash back as if it were my new card. That was actually quite lucky. My insurance was coming due and I couldn’t to wait for my card to come in the mail. My pin, card number, and online banking all remained unchanged even after I received my new card.
Some Good News for the Future
Something interesting I learned from the TD credit card specialist is that my annual fee period resets. So instead of having to worry about an annual fee coming due on my TD Aeroplan Infinite Vias’s anniversary, the anniversary is instead moved to when I signed up for this new card. That means I have until September of next year before I need to cancel this card or worry about an annual fee. I’m quite happy to hear this is the case. It means I should be able to product switch this card again sometime next year.
Being able to product switch to other TD credit cards makes me all the more happy that I chose the TD Aeroplan Visa Infinite as the first credit card on my churning journey. I’m doubly happy that I also signed my wife up for the TD Aeroplan Visa Infinite. I’m already planning our next moves for that card. It’ll be her 6 months in December, so I’m considering product switching to one of TD’s other great points cards. I have my eye on the TD Aeroplan Visa Platinum, which would give us 20,000 Aeroplan points for $1,000 in spending. That’s over $400 in travel credits which is comparable to earning 40% cash back on $1,000 in spending.
Aeroplan Points Update
Since our last update, we finally earned the remaining 5,000 Aeroplan point bonus on my wife’s TD Aeroplan Visa Infinite card. Although our points accumulation has slowed down, we’ve still managed to rack up an additional 7,961 points since our last “Churning Casually” article. If we hadn’t taken a detour with the TD Cash Back Visa Infinite we could have certainly earned at least 2,000 more Aeroplan points.
Our progress was helped somewhat by our use of the Aeroplan eStore. Using the eStore we’re able to earn some points on our purchases at select retailers like Apple, Sephora, and other popular retailers. I don’t want to give away what I bought for Christmas gifts (in case my wife reads this article!), but I was able to earn a few hundred points shopping using the eStore so far this fall.
As you can see, we’ve done a great job earning over 100,000 Aeroplan points already. Our goal is to continue racking up Aeroplan points while trying to keep our spending under control. We don’t want to take on any extra spending to earn these points, so we’re focused on cards with no annual fee and reasonable minimum spending targets.
Thanks for Reading!
I hope you enjoyed this little (okay, not so little!) update on our churning journey so far this year. Please check out some of my other recent articles. Some popular choices include my primer on withholding taxes for Canadians and my review of the best Canadian dividend ETFs! Finally, consider signing up for my newsletter or following me on social media if you’d like to be notified when I post new articles.