Credit Cards Rewards and Sign on Bonuses (Churning)

[Fireman]

I'd like to aggregate all the credit cards and rewards into one thread.  For instance, if you find a good sign on bonus or rewards percentage, post it here, preferably with a link.

I just signed up for two new cards:

The Chase Freedom Signature had a $200 on $500 sign on bonus (now $100 on $500) with 5% cash back on rotating categories and 1% on everything else.
     https://creditcards.chase.com/credit-cards/chase-freedom.aspx?fcsplit=1&iCELL=63KC&inkcashsplit=1&inkplussplit=2

The Discover IT card has a $150 on $750 sign on bonus and also has 5% cash back on rotating categories and 1% on everything else.
     https://www.discovercard.com/cardmembersvcs/acqs/app/display?&pageFileId=listingsite&sc=KCV3&iq_id=a220088FOF518809696&pid=1032499&cmpgnid=ls-dca-flex-kcv3

Also, check out this thread about the difference between the Discover Card and the Discover IT card.  I found this out after a quick call to discover.
     https://forum.mrmoneymustache.com/welcome-to-the-forum/discover-card-versus-discover-it/

I also intend to pick up the AMEX Blue Cash (or Blue Cash Preferred if I can justify the annual fee), the Capital One Quicksilver, and the Bank of America Cash Rewards Card. 
     https://www304.americanexpress.com/credit-card/blue-cash-everyday
     http://www.capitalone.com/credit-cards/quicksilver-cash-rewards/
     https://www.bankofamerica.com/credit-cards/overview.go

What good cards have you found?

[daverobev]

BoA is doing a $100 credit for $500 on the Cash Rewards VISA https://consumer.bankofamerica.com/USCCapp/Ctl/entry?sc=VAB2E9 - that's 2% cashback on groceries, 3% on gas!

[YK-Phil]

In Canada, I just signed up for those two cards:

Amex Aeroplan Plus Gold Card
Annual Fee: first year’s annual fee is waived – a value of $120. Supplementary Cards: 2 free AeroplanPlus Gold Cards. $50 annually for additional AeroplanPlus Gold Cards

Earn 20,000 Bonus Aeroplan Miles after you spend $500 in your first three months of Card membership
Earn 1 Aeroplan Mile for every $1 in Card purchases up to $10,000
Accelerate your earn rate to 1.25 Aeroplan Miles for every additional $1 in Card purchases over $10,000 annually
Earn Aeroplan Miles faster with two free Supplementary Cards – a $100 value ($50 for each additional Supplementary Cards)
You’ll also earn additional miles at Aeroplan Partners when you also provide your Aeroplan Number or present your Aeroplan
https://www.americanexpress.com/ca/en/content/aeroplan-gold-card/

TD Aeroplan Infinite Visa Card
Annual Fee: Annual $120 - Authorized Users $50
A Welcome Bonus of 15,000 Aeroplan Miles upon first purchase and for a limited time, a 2-for-1 flight reward
To earn 1.5 miles for every $1 you spend on gas, grocery and drug store purchases using your Card
To earn 1 mile for every $1 you spend on all other purchases using your Card
To earn miles twice when you pay with your TD Aeroplan Visa Infinite Card and present your Aeroplan Membership Card at Aeroplan partner brands and online retailers through Aeroplan's eStore.
http://www.tdcanadatrust.com/products-services/banking/credit-cards/view-all-cards/aeroplan-infinite-card.jsp

I hate to pay the annual fee for the TD card, but considering the welcome bonus and the 2-for-1 flight reward, it makes financial sense for me.

Also considering that I already have the CIBC Aerogold card with an annual fee of $120 which I use for everything from buying groceries to paying every single bill, and also because it is accepted in more places than the Amex, I plan to cancel the latter before its renewal is due.

[wtjbatman]

I got sick of the 1% cash back I've been getting with my current card, I've decided to give this bonus reward churning a try. The first card I signed up for is the Citi ThankYou Preferred Card. I should be able to earn the 30,000 bonus points easily, with putting all my bills/spending on my card. After that it's the same old 1% on most things (although it has 2% dining/entertainment, those aren't categories I spend a lot of money on), so I'll be looking for a new bonus/rewards card then.

[brooklynguy]

What I plan to do in order to meet the spending thresholds (which, in light of my mustachian spending habits, would be difficult to do through my regular spending) is buy gift cards to stores where I will eventually be spending the money in any event (in my case, Costco and Amazon).  It may take me many months (or even years) to use up the gift cards, but I think it's worth it to earn these generous rewards (which vastly outweigh the opportunity costs of tying up the funds in gift cards).  Just make sure the gift cards do not expire, and keep them in a safe place (in the case of physical cards).

[daverobev]

What I plan to do in order to meet the spending thresholds (which, in light of my mustachian spending habits, would be difficult to do through my regular spending) is buy gift cards to stores where I will eventually be spending the money in any event (in my case, Costco and Amazon).  It may take me many months (or even years) to use up the gift cards, but I think it's worth it to earn these generous rewards (which vastly outweigh the opportunity costs of tying up the funds in gift cards).  Just make sure the gift cards do not expire, and keep them in a safe place (in the case of physical cards).

That's a good call. Also, off topic, but keep your eyes open for discounted gift cards for shops you do use.. I was lucky enough to get three Canadian Tire gift cards at 20% off, and a Shell card at ~50% discount. Not huge amounts, but for stuff I was already going to buy (petrol!) pretty damn good!

[seattlecyclone]

Buying gift cards to meet the spending thresholds can be a good idea up to a point. I wouldn't do it if I didn't plan to use the gift cards within a few months, though. Say you get $100 cash back after buying $500 of gift cards. That's a 20% discount, which is nice. If the stock market goes up 30% between now and when you finally finish using the gift cards, it might not have been such a great deal after all.

[brooklynguy]

That's a valid point, and I guess I shouldn't be so cavalier about assuming the rewards will "vastly outweigh the opportunity costs" of tying up the funds.  But given the magnitude of dollars at play (hundreds or low thousands, not tens of thousands), I would rather lock in the 20% reward now than miss out on it and hope for a better return in the stock market over the next year or so.

And the point about keeping an eye out for discounted gift cards to places you will be spending money anyway is a good one.  For people with Amex cards, Amex's "My Offers" is a good source for that.  They regularly offer statement credits for spending specified amounts in particular stores, which you can do by purchasing gift cards.  One recent Amex offer in my area was for a supermarket I don't normally shop at, but I bought some gas station gift cards for an effective 33% discount.

[kendallf]

Take a look at Nerdwallet to find the best deals on cards.  I switch all of my spending over to the newest card until I hit the spending minimum, then move to the next.  My top few for the past year:

Sapphire Preferred, 50,000 point bonus (plus 20% more if you use their site to book travel).  Has a fee that's waived the first year; I called before the year was up and changed it to a regular Sapphire account (no fee).

Amex Delta Gold, 45,000 miles (fee waived first year).  I may kill this one at the end of the year; it doesn't have any significant anniversary bonus that tempts me.

Chase Marriott: 50,000 points (I think..already used 'em all), fee waived first year, free night's stay each year so I'll keep this one even with the fee.  It's also a chip card with no foreign transaction fees (I travel internationally, so this makes it worth keeping also).

Amex Hilton: 50k points, no fee.  Keeper.

Chase IHG: 60k points for $1k spend, fee waived first year.  I have used this card for exactly two transactions and will kill it at the end of the year, but that was a nice bonus!

Just signed up for Citi American Airlines, 30k miles bonus, plus another 10k if you spend $5k within a year.  Fee waived first year.  Don't know if I'll bother to try and hit the $5k mark; I may just hit the low hanging fruit and move on.

Many of these were targeted bonuses (the generally advertised one is less).  If you have excellent credit, Google a bit and you can usually find a targeted offer for more.

Edited to add: forgot the Citi Simplicity card, which gave me 21 months at 0% APR.  That's where my house renovation costs are being parked right now.

[kpd905]

Just signed up for Citi American Airlines, 30k miles bonus, plus another 10k if you spend $5k within a year.  Fee waived first year.  Don't know if I'll bother to try and hit the $5k mark; I may just hit the low hanging fruit and move on.

Which AA card is this?  There are 50k offers on Flyertalk.  I haven't heard of one with the 10k bonus though.

[Fireman]

Many of these were targeted bonuses (the generally advertised one is less).  If you have excellent credit, Google a bit and you can usually find a targeted offer for more.

What do you mean by targeted bonuses?  Can you explain a bit further...?

[kendallf]

Which AA card is this?  There are 50k offers on Flyertalk.  I haven't heard of one with the 10k bonus though.

Citi American Airlines Mastercard.  The 50k would be better; I didn't actually search around much for that one, maybe I should have.

What do you mean by targeted bonuses?  Can you explain a bit further...?

Just like it sounds; the issuing bank will have a generally publicized offer (say, for 20,000 bonus points) but they'll offer more for established customers with good credit, or those who use an "affiliate" link to sign up (such as MMM has on this site).

[YK-Phil]

For current CIBC Aerogold customers: I just called to inquire about any point offers to keep current customers, and there are none. I told the agent I would like to cancel my card, and she replied that CIBC will waive my $120-annual fee for this year. She also said I could also apply for another CIBC Aerogold card (which comes with no fee for the first year and a welcome bonus of 15,000 Aeroplan miles, enough for a short-haul ticket which I currently need to buy every few weeks to go to work), or their new CIBC Aventura card, which offers a welcome bonus of 15,000 Aventura points (enough for one short-haul ticket as well) after the first purchase, and no fee for the first year.

If I apply for a second Aerogold card, and a new Aventura, this will mean two almost free tickets (minus some airport fees and taxes) that I will not have to pay, or about $900 in my pocket.

Aerogold: https://www.cibc.com/ca/visa/aerogold-visa-infinite-card.html#aerogoldVisaInfinite
Aventura: https://www.cibc.com/ca/visa/aventura-visa-infinite-card.html

[Fireman]

What do you mean by targeted bonuses?  Can you explain a bit further...?

Just like it sounds; the issuing bank will have a generally publicized offer (say, for 20,000 bonus points) but they'll offer more for established customers with good credit, or those who use an "affiliate" link to sign up (such as MMM has on this site).

Thanks!

[BearDown]

We use four cards for all our purchases, all of which have no annual fees

Amazon Visa - 3% back on Amazon purchases (although only as credit)
American Express Everyday - 3% on groceries and department stores
American Express Costco - 3% on gas and restaurants
Capital One Quicksilver - 1.5% on everything

Those seem to cover all our bases.

[bariloche]

Take a look at Nerdwallet to find the best deals on cards.  I switch all of my spending over to the newest card until I hit the spending minimum, then move to the next.  My top few for the past year:

Sapphire Preferred, 50,000 point bonus (plus 20% more if you use their site to book travel).  Has a fee that's waived the first year; I called before the year was up and changed it to a regular Sapphire account (no fee).

Amex Delta Gold, 45,000 miles (fee waived first year).  I may kill this one at the end of the year; it doesn't have any significant anniversary bonus that tempts me.

Chase Marriott: 50,000 points (I think..already used 'em all), fee waived first year, free night's stay each year so I'll keep this one even with the fee.  It's also a chip card with no foreign transaction fees (I travel internationally, so this makes it worth keeping also).

Amex Hilton: 50k points, no fee.  Keeper.

Chase IHG: 60k points for $1k spend, fee waived first year.  I have used this card for exactly two transactions and will kill it at the end of the year, but that was a nice bonus!

Just signed up for Citi American Airlines, 30k miles bonus, plus another 10k if you spend $5k within a year.  Fee waived first year.  Don't know if I'll bother to try and hit the $5k mark; I may just hit the low hanging fruit and move on.

Many of these were targeted bonuses (the generally advertised one is less).  If you have excellent credit, Google a bit and you can usually find a targeted offer for more.

Edited to add: forgot the Citi Simplicity card, which gave me 21 months at 0% APR.  That's where my house renovation costs are being parked right now.

Warning: Nerdwallet does not show the BEST credit card offers.

Chase IHG: 60k points for $1k spend, fee waived first year.  I have used this card for exactly two transactions and will kill it at the end of the year, but that was a nice bonus!

There is a better 80k offer.

Just signed up for Citi American Airlines, 30k miles bonus, plus another 10k if you spend $5k within a year.  Fee waived first year.  Don't know if I'll bother to try and hit the $5k mark; I may just hit the low hanging fruit and move on.

There is a better 50k offer.

Chase Marriott: 50,000 points (I think..already used 'em all), fee waived first year, free night's stay each year so I'll keep this one even with the fee.  It's also a chip card with no foreign transaction fees (I travel internationally, so this makes it worth keeping also).

There is a better 70k offer.

[Compared from here: http://www.welltraveledmile.com/whats-in-my-wallet/]

[153]

That's a valid point, and I guess I shouldn't be so cavalier about assuming the rewards will "vastly outweigh the opportunity costs" of tying up the funds.  But given the magnitude of dollars at play (hundreds or low thousands, not tens of thousands), I would rather lock in the 20% reward now than miss out on it and hope for a better return in the stock market over the next year or so.

And the point about keeping an eye out for discounted gift cards to places you will be spending money anyway is a good one.  For people with Amex cards, Amex's "My Offers" is a good source for that.  They regularly offer statement credits for spending specified amounts in particular stores, which you can do by purchasing gift cards.  One recent Amex offer in my area was for a supermarket I don't normally shop at, but I bought some gas station gift cards for an effective 33% discount.

Just did something similar. Have one cc offering 5% cash back on drug store purchases, up to $1500 spending. I have some travel coming up that I need to pay for, so I bought 3 visa vanilla gift cards for $500 each (that was the limit per card). Even after the $4.95 purchase fee per card, I made an easy $60 for maybe 10 minutes of my time.

[Fireman]

I recently got the Discover IT with $150 back on the first $750 in three months.  However, i'm having a hard time finding anything to buy.  Groceries are mostly on the Target card, gas is on Chase until the end of March, and the only bills I can pay with a card are pretty small ones.  My apartment complex does allow me to pay rent with a card but they charge a $19.99 fee.  The way I see it though, if I make a one time rent charge, i'll easily cross the $750 threshold and get $150 back.  Plus, i'll get 1% cash back on the actual purchase.  So despite the charge, i'll still be up about $140.

[kpd905]

I recently got the Discover IT with $150 back on the first $750 in three months.  However, i'm having a hard time finding anything to buy.  Groceries are mostly on the Target card, gas is on Chase until the end of March, and the only bills I can pay with a card are pretty small ones.  My apartment complex does allow me to pay rent with a card but they charge a $19.99 fee.  The way I see it though, if I make a one time rent charge, i'll easily cross the $750 threshold and get $150 back.  Plus, i'll get 1% cash back on the actual purchase.  So despite the charge, i'll still be up about $140.

I'd look into setting up an Amazon Payments account.  Send someone $750, have them cut you a check.  Done.

[Fireman]

I've read a few things about Amazon Payments but i'm still...apprehensive about trying it.  I also thought there were fees now.

Edit:  I guess my ways has fees too.  Heh.

[kpd905]

I've been doing it every month for a year, there are no fees as long as it is under $1000.

[Fireman]

So I just tried to sign up for Amazon Payments and they were unable to verify my account.  After talking to customer service, they'll have someone verify blah blah blah.  Should hear back in 2-3 days. 

[daverobev]

Question: Looking on the BoA site, it says something like 'cashback may be taxable, form 1099 may be issued, BoA don't give tax advice' - do you declare/get taxed on cashback and/or cash bonuses..? What about non-cash rewards (gift cards? flights?)??

[Fireman]

Wasn't aware of that and have never received a 1099 for cash rewards on Discover or Navy Fed. 

[seattlecyclone]

Everything I've read has said the IRS considers credit card cash back to be a "discount" and thus not income that is subject to tax.

The corollary to this is that if you put deductible expenses on a rewards card, you should report the deduction after accounting for the value of any points you earned on that purchase, not before.

[geekette]

How do those of you who are retired get new credit cards?  At this point, we don't have any income to speak of, but we have money (cash, stocks outside of retirement, and of course retirement funds which we aren't touching now). 

A couple years ago I was turned down for a credit card because I, personally, didn't have income and they wouldn't take my husband's income into consideration.  From what I understand, the laws have changed and now household income is okay.  But at this point in time, we don't have any w-2 coming in (just dividends).  There are some tempting offers out there...

 

[kpd905]

Everything I've read has said the IRS considers credit card cash back to be a "discount" and thus not income that is subject to tax.

This is correct.  I think any bonuses that you get for signing up for checking accounts are actually taxable though.

[daverobev]

Everything I've read has said the IRS considers credit card cash back to be a "discount" and thus not income that is subject to tax.

This is correct.  I think any bonuses that you get for signing up for checking accounts are actually taxable though.

Hmm, but 'get $150 back when you spend $750' would NOT be taxable..? Cripes.

[YK-Phil]

For those of us in Canada, this link tells us what the Canada Revenue Agency is saying about loyalty points and other rewards programmes earned through employement:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/lylty/menu-eng.html

[Fireman]

According to Bankrate.com, the difference lies in weather it is a rebate or an award.  If you had to make a purchase to receive the money, it's considered a rebate and is not taxable.  If you got it with no financial outlay, then it is an award and taxable.

Getting $150 cash back on $750 in purchases is a rebate, no taxes!

http://www.bankrate.com/finance/credit-cards/credit-card-rewards-count-taxable-income.aspx

Edit:  edit.

[daverobev]

For those of us in Canada, this link tells us what the Canada Revenue Agency is saying about loyalty points and other rewards programmes earned through employement:

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/lylty/menu-eng.html

Interesting - so if I had a job (thankfully, I don't, ha ha), and I used my own credit card - a cash back card - the cashback would be taxable.

[Fireman]

Accidentally found another good card.  There's a lengthy side thread about Disneyland and Disney resorts in the Overheard on Facebook thread.

https://forum.mrmoneymustache.com/antimustachian-wall-of-shame-and-comedy/overheard-on-facebook/msg203375/#msg203375

I've never been to any Disney park so I went to their website to check it out and stumbled onto this gem.  $100 statement credit on your first purchase, "2% in reward dollars on card purchases at gas stations, grocery stores, restaurants and most Disney locations [and] 1% on all your other card purchases."  There's a no annual fee version but the rewards are reduced and the statement credit is only $50.  The way I see it, you actually lose a dollar by picking the no annual fee card.

https://secure-disneyland.disney.go.com/disney-visa-card/dlr/incentive/?trackcode=JLQ&int_cmp=DLR_Homepage_DVIC_Save40Tile&appRedirect=http%3A%2F%2Fdisneyland.disney.go.com%2F

[brooklynguy]

I only see an option for a $50 Disney gift card (not a statement credit) for the no annual fee version.  Do you have a direct link to the offer for the statement credit on the no annual fee card?  Thanks.

[Fireman]

I tried the link above and it worked both times.  I googled 'Disney Card' and found the one you were referring to, with the gift cards. 

Try googling 'disney statement credit' and go to the first non-ad link.  This is what I got:

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDQQFjAA&url=http%3A%2F%2Fsecure-disneyland.disney.go.com%2Fdisney-visa-card%2Fdlr%2Fincentive%2F&ei=d3DpUt-2LMjWkQekoICgDA&usg=AFQjCNF7rtWDQRNMwdtxoxousfyEgD4iDw&sig2=gXbV-PuTsmhqQlr_r4d2fQ&bvm=bv.60157871,d.eW0

and that took me to it as well.

Good luck!

[chucklesmcgee]

Should add the Barclay Arrival card- $400 bonus for spending $1000 in 90 days, ($444.44 if you redeem it against travel expenses on the card).
2.22% back on every purchase (when redeemed against travel). Really a great card even to hold on to. $89 annual fee is waived the first year.

[kpd905]

Should add the Barclay Arrival card- $400 bonus for spending $1000 in 90 days, ($444.44 if you redeem it against travel expenses on the card).
2.22% back on every purchase (when redeemed against travel). Really a great card even to hold on to. $89 annual fee is waived the first year.

The bonus is $200 statement credit or $444.44 toward travel.

[chicagomeg]

I recently got the Discover IT with $150 back on the first $750 in three months.  However, i'm having a hard time finding anything to buy.  Groceries are mostly on the Target card, gas is on Chase until the end of March, and the only bills I can pay with a card are pretty small ones.  My apartment complex does allow me to pay rent with a card but they charge a $19.99 fee.  The way I see it though, if I make a one time rent charge, i'll easily cross the $750 threshold and get $150 back.  Plus, i'll get 1% cash back on the actual purchase.  So despite the charge, i'll still be up about $140.

I'd look into setting up an Amazon Payments account.  Send someone $750, have them cut you a check.  Done.

Why don't you buy your gas with it? 5% cashback on Chase Freedom is less than your bonus based on my fuzzy, half assed end of the day math.

[Fireman]

Why don't you buy your gas with it? 5% cashback on Chase Freedom is less than your bonus based on my fuzzy, half assed end of the day math.

I'd rather get the 5% if I can.  I actually keep a list of which card to use to maximize my benefit.  I'm about $20 away from hitting the $500 mark on the Chase card and i've already 'switched' all my spending to the Discover IT card (except for gas).  I finally got Amazon payments to validate my account and I sent a test $10 to ensure the whole process works.  If it gets down to the wire on the IT card, i'll probably just go that route. 

As a side note, one thing i've noticed with churning is that I could see myself buying things I don't necessarily need so I can meet the minimum....the Costco effect, if you will.  Just means I have to double ask myself if I really need it!

[brooklynguy]

I tried the link above and it worked both times.  I googled 'Disney Card' and found the one you were referring to, with the gift cards. 

Thanks, but it seems like only the annual fee version of the card has the statement credit offer (the non-annual fee version only has the gift card offer).

The bonus is $200 statement credit or $444.44 toward travel.

Where does it say a $200 statement credit option is available?  I read the fine print but I only see the travel reward mentioned.

[madage]

Where does it say a $200 statement credit option is available?  I read the fine print but I only see the travel reward mentioned.

It's a 40,000 mile bonus. Those miles can be redeemed at $0.01 per mile for travel purchases or $0.005 per mile for cash back. That wording might not be in the terms and conditions, but that's how redemption works for this card. I have it.

[brooklynguy]

It's a 40,000 mile bonus. Those miles can be redeemed at $0.01 per mile for travel purchases or $0.005 per mile for cash back. That wording might not be in the terms and conditions, but that's how redemption works for this card. I have it.

Thanks!  I just signed up.  Is it common for miles cards to work this way?  I have been avoiding miles cards because I'm only interested in cash back, but if they can be redeemed for cash then I should look into them.

[chicagomeg]

It's a 40,000 mile bonus. Those miles can be redeemed at $0.01 per mile for travel purchases or $0.005 per mile for cash back. That wording might not be in the terms and conditions, but that's how redemption works for this card. I have it.

Thanks!  I just signed up.  Is it common for miles cards to work this way?  I have been avoiding miles cards because I'm only interested in cash back, but if they can be redeemed for cash then I should look into them.

Depends. I think a lot of the airline branded ones actually give you miles, but "travel" cards, like ones from Capital One, or the Arrival card, just call them miles because it sounds cooler I think.

[chucklesmcgee]

It's a 40,000 mile bonus. Those miles can be redeemed at $0.01 per mile for travel purchases or $0.005 per mile for cash back. That wording might not be in the terms and conditions, but that's how redemption works for this card. I have it.

There's also a 10% bonus which gets applied every-time you redeem against travel expenses, so it's effectively 44,444 "miles" or basically $444.44 in reimbursed travel expenses. Good call on the half-rewards for statement credit, I had missed that. For me, I usually have some travel expense every few months so this card will work just fine as a 2.2% back card.

[horsepoor]

American Express Blue Sky - no annual fee, 30,000 points (good for a $400 travel credit) with only $500 purchase in first three months.  Also, 0% interest on purchases for first 15 months.

https://www295.americanexpress.com/cards/npz.do?pmccode=82#CARDS/82/1/0/0

[madage]

There's also a 10% bonus which gets applied every-time you redeem against travel expenses, so it's effectively 44,444 "miles" or basically $444.44 in reimbursed travel expenses. Good call on the half-rewards for statement credit, I had missed that. For me, I usually have some travel expense every few months so this card will work just fine as a 2.2% back card.

Agreed. I rent a car a few times a year and love using my "miles" to get the rental credited back to my card plus the 10% bonus. The annual fee isn't worth it if you don't redeem for travel purchases, but the fee is waived the first year, so it's still a good card for churning.

[RaveOregon]

When you cancel a card after the bonuses and free year runs out etc. can you get the sign up bonus again a few years later?

[madage]

When you cancel a card after the bonuses and free year runs out etc. can you get the sign up bonus again a few years later?

In my experience, the answer is yes. There are usually terms listed that indicate the offer is not valid for customers who have had the product in the last x months. This is not always the case, so check the terms.

Also, in many cases the better option is to move to a fee-free card, rather than canceling.

[MustachianAccountant]

That's a valid point, and I guess I shouldn't be so cavalier about assuming the rewards will "vastly outweigh the opportunity costs" of tying up the funds.  But given the magnitude of dollars at play (hundreds or low thousands, not tens of thousands), I would rather lock in the 20% reward now than miss out on it and hope for a better return in the stock market over the next year or so.

And the point about keeping an eye out for discounted gift cards to places you will be spending money anyway is a good one.  For people with Amex cards, Amex's "My Offers" is a good source for that.  They regularly offer statement credits for spending specified amounts in particular stores, which you can do by purchasing gift cards.  One recent Amex offer in my area was for a supermarket I don't normally shop at, but I bought some gas station gift cards for an effective 33% discount.

Just did something similar. Have one cc offering 5% cash back on drug store purchases, up to $1500 spending. I have some travel coming up that I need to pay for, so I bought 3 visa vanilla gift cards for $500 each (that was the limit per card). Even after the $4.95 purchase fee per card, I made an easy $60 for maybe 10 minutes of my time.

Wait, so there's nothing in the CC Agreement that says you can't buy gift cards towards the "minimum spent in X months for bonus cash"?? Neat. I just got the Sapphire Preferred, and wasn't sure I could hit the $3,000 in 90 days. This way, I can just put any shortfall on BJ's gift cards.

[chucklesmcgee]

[quote author=MustachianAccountant link=topic=12267.msg208857#msg208857 date=1391095356
Wait, so there's nothing in the CC Agreement that says you can't buy gift cards towards the "minimum spent in X months for bonus cash"?? Neat. I just got the Sapphire Preferred, and wasn't sure I could hit the $3,000 in 90 days. This way, I can just put any shortfall on BJ's gift cards.
[/quote]

Credit card companies usually get only a very limited amount of data on most of your purchases. They can't tell if a $100 CVS purchase was for bandaids or giftcards.

[chicagomeg]

[quote author=MustachianAccountant link=topic=12267.msg208857#msg208857 date=1391095356
Wait, so there's nothing in the CC Agreement that says you can't buy gift cards towards the "minimum spent in X months for bonus cash"?? Neat. I just got the Sapphire Preferred, and wasn't sure I could hit the $3,000 in 90 days. This way, I can just put any shortfall on BJ's gift cards.

Credit card companies usually get only a very limited amount of data on most of your purchases. They can't tell if a $100 CVS purchase was for bandaids or giftcards.
[/quote]

Careful though. There was a 5% cashback AARP Chase card a while back. A lot of people found themselves blacklisted for life from Chase for churning spending. I think it's fine to buy a few hundred dollars to meet a spending requirement, but I wouldn't personally do thousands for the rewards, at least not on a Chase car. Then again, lots of people do via the Chase Ink 5% cashback at Office Supply stores, but know there is some degree of risk.