Beginners Guide To TD Cash Back Credit Cards

TD Bank offers a diverse product line with a range of bank accounts, credit cards, and more to help clients meet their financial goals.

For clients looking to earn cash back on everyday purchases, TD has three cash back credit cards available. There are two personal credit cards and one business credit card within the cash back lineup.

The two personal credit cards are the TD Cash Back Visa Infinite* Card and the TD Cash Back Visa* Card.

On this page, we’ll go over the details of each of the two personal cards and explain how to use them to earn and redeem cash back.

Why Choose Cash Back?

Cash back credit cards provide a simple and straightforward rewards structure and are a good choice for people who do not travel often or who do not want to spend energy navigating rewards and loyalty programs.

With TD’s cash back credit cards, clients earn back between 0.5% and 3% on all their everyday purchases.

The accumulated cash back is tallied in your account, making it easy to understand and measure.

If you don’t travel much, or you’re not inclined to learn the ins-and-outs of a loyalty program or figure out how to make good choices with a fixed-value rewards program, TD’s cash back credit cards are a great alternative.

Redeeming TD Cash Back

The cash back you accumulate using your TD Cash Back credit card can be redeemed easily.

You can redeem your cash back dollars to pay down your account at any time, with a minimum redemption of $25†.

You can also set up your account to do this automatically each January, with no minimum cash back amount required.

TD Cash Back Credit Cards

TD currently offers two personal cash back credit cards: the TD Cash Back Visa Infinite* Card and the TD Cash Back Visa* Card.

Each card offers different cash back earning rates and perks, so let’s take a look at their details to determine which one is best for you.

TD Cash Back Visa Infinite* Card

The TD® Cash Back Visa Infinite* Card is TD’s more premium cash back credit card offering. It comes with good cash back earning rates in key categories and a bonus elevated earning rate when you first open the account.

The fees and eligibility requirements of this card are as follows:

• Annual fee: $139 (all figures in CAD)
• Supplementary cardholders: $50
• Minimum income requirement: $60,000 (personal), $100,000 (household)
• Estimated credit score needed: Good to Excellent

The earning rates for the TD® Cash Back Visa Infinite* are good, and they are most notable in everyday spend categories such as groceries, gas, and recurring bill payments.

The TD® Cash Back Visa Infinite’s* earning rates are as follows:

• 3% cash back† on groceries, gas, and recurring bill payments set up on your account† with an annual maximum of $15,000 in spending in each category†
• 1% cash back on all other purchases†

To give you an example of what you can expect from this type of cash back earning rate, let’s imagine you spend $500 per month on gas and groceries.

Since these categories earn 3% cash back with the TD Cash Back Visa Infinite* Card, your $500 monthly spend will earn $15 in cash back ($500 x 3% = $15).

If you maintained this level of spending for one year, your total cash back on these purchases alone would be $180 ($15/month x 12 months).

As a cash back card, the TD Cash Back Visa Infinite* doesn’t come with much in the way of perks; however, it does provide cardholders with one particularly notable benefit.

As a TD Cash Back Visa Infinite* cardholder, you can enjoy automatic enrollment in a free Deluxe TD Auto Club Membership.†

This membership provides you with emergency road services anywhere in Canada and the continental US, including emergency service calls, lockout service, towing, winching, and personal transportation. You can read more about the TD Auto Club on TD’s website.†

The TD Cash Back Visa Infinite also offers the standard Visa Infinite* Concierge services†, which you can use to help make travel or lifestyle bookings.

When travelling, cardholders can also take advantage of the card’s modest insurance coverage

The TD Cash Back Visa Infinite* offers emergency medical insurance for 10 days for cardholders who are under 65 years old, and for four days for those 65 and older. This coverage is for up to $2,000,000 per person.†

The card also comes with baggage delay and loss insurance of $1,000 per person, as well as rental car insurance on vehicles with an MSRP of up to $65,000.†

Additionally, the TD Cash Back Visa Infinite* Card will double the manufacturer’s warranty up to one additional year, as well as provide 90 days of purchase protection† for eligible purchases made on the card.

Full details about the card’s insurance coverage can be found on TD’s website.

TD Cash Back Visa* Card

The TD® Cash Back Visa * Card is TD’s entry-level, no-annual-fee cash back credit card offering.

This is an excellent card for someone who would like to earn a little cash back without having to pay an annual fee.

The fees and eligibility requirements of this card are as follows:

• Annual fee: $0
• Supplementary cardholders: $50
• Minimum income requirement: N/A
• Estimated credit score needed: N/A

The earning rates for the TD® Cash Back Visa* are considerably lower than those offered by the TD Cash Back Visa Infinite*, but this is not surprising given that there is no annual fee and no minimum income requirement for this card.

The TD® Cash Back Visa’s* earning rates are as follows:

• 1% cash back on groceries, gas, and recurring bill payments, with a maximum of $5,000 spent per year for gas and groceries combined, and a maximum of $5,000 for recurring bill payments
• 0.5% cash back on all other purchases†

To illustrate the cash back potential of this credit card, let’s once again look at the example from above.

If you were to spend $500 per month on gas and groceries, you would earn $5 cash back per month with TD Cash Back Visa ($500 x 1% = $5).

Over the course of one year of identical spending, you would earn a total of $50 cash back ($5/month x 10 months) since the rate of 1% cash back is only available for a maximum spend of $5,000 per year for gas and groceries combined ($500/month x 10 months = $5,000).

As you might imagine, as a no-annual-fee card, the TD Cash Back Visa* does not provide much in the way of additional perks or insurance coverage.

In terms of perks, TD Cash Back Visa* cardholders save a minimum of 10% off the base rates on car rentals with Avis and Budget when renting within Canada and the US, and they save a minimum of 5% off when renting elsewhere in the world.

Additionally, for insurance coverage, the card provides 90 days of purchase protection, and offers double the manufacturer’s warranty, up to one additional year, on purchases made with the card.

For complete details about the perks and insurance benefits that come with the TD Cash Back Visa*, visit TD’s website.

Conclusion

TD Bank offers two cash back credit cards that allow you to earn cash back on your everyday purchases.

The accumulated cash back can be easily redeemed for statement credits on your credit card account, making it a simple and straightforward way to get a little extra back on your spending.

If you don’t do much travelling, or if you’re just looking for a simple earning structure, a TD Cash Back credit card could be worth adding to your wallet.

FAQs

Can I have a TD Cash Back credit card if I don’t bank with TD?

Yes, you can. To pay your TD Cash Back credit card bill without a TD bank account, simply search for TD as a payee within your online banking’s bill payment feature, and then add your TD credit card number as the account number.

How do I redeem my cash back?

Cash back can be easily redeemed, with a minimum amount of $25, by logging in to your account on TD’s website or mobile app.

Does my cash back expire?

No. Your accumulated cash back will not expire as long as your account is open and in good standing.