TD Bank is Giving Away Money

We keep an “emergency fund” lying around in a savings account.  We decided on $30,000.  We earn pretty much nothing on this money.

TD Bank is currently offering $300 to open a new Premier account, so I went ahead and opened two accounts, one for my husband and one for me.  I transferred $2,500 into each account from our emergency fund and changed our direct deposit for a few paycheck cycles.

Free money courtesy of TD Bank. Why not?
Free money courtesy of TD Bank. Why not?

$300 is 12% of $2,500 – that’s a fabulous guaranteed return on investment.  It sure beats the fraction of 1% that we earn in our normal savings account!

95 days after opening a new premier account – during which time the account balance doesn’t drop below $2,500 and $2,500 is direct deposited — TD Bank will deposit $300 into each account.

Here’s the link to the promotion:

https://www.tdbank.com/personal/premierchecking_inc.html

I’m not sure if we’ll keep either account open past Day 96.  I did visit a TD Bank branch in my neighborhood, and I was impressed by an ATM in the lobby which distributes any dollar amount, in the bills of your choice.  Well… I was impressed by the idea of it.  It was out of order that day.

It’s a good gimmick, this $300 bonus.  I never would have stepped foot in the bank otherwise.  I’m a sucker for free money.

Time for a new Credit Card

I love credit cards.

To be more specific – I love rewards credit cards.

We charge just about everything.  Gas, groceries, medical bills – I wish we could charge the mortgage payments.  We don’t carry a balance on the cards.  A balance is not an option, it’s a crazy-stupid waste of money to deal with credit card interest rates.  We pay in full about once a week or so.

There are many great options, but I’ve really enjoyed the Capital One Venture card for the past two years.  This card has a 2% “purchase eraser” gimmick.  2% of of your total purchases can be used towards travel (plane, train, car rental, hotel, public transportation) purchases – 2% cash back, in essence.

The best part is the $400 sign-on bonus, which is awarded if $3,000 is charged in the first three months of having the card.

Last week, we closed the Venture card account in my name (to avoid the $59 annual fee) and opened a new account in my husband’s name.

To date we’ve received just under $1,500 cash back from this card.

The new $400 sign-on bonus will go towards our next trip.

I never say no to free money.