TD Cash Back Visa Infinite Review

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The TD Cash Back Visa Infinite is TD Bank’s top cash back card. What makes this card highly appealing is that some TD clients can get this card free, and it’s one of the few credit cards that come with roadside assistance. The earning rate is respectable, and the welcome bonus is typically generous. Read my TD Cash Back Visa Infinite review now for the full details.

TD Cash Back Visa Infinite Card

  • $139 annual fee – First year free
  • 10% cash back welcome bonus
  • 3% cash back on groceries, gas, and pre-authorized payments
  • 1% cash back on all other purchases
  • Free Deluxe TD Auto Club Membershi

Welcome bonus and earn rate

At first glance, the typical welcome offer of 10% cash back in the first three months on $3,500 in spending sounds excellent, but it’s not exactly straightforward. The 10% cash back offer breaks down like this:

  • 10% cash back is given on the first $2,100 spent on gas, groceries, and pre-authorized payments.
  • 10% cash back on all other purchases up to $1,400 in spending.

So yes, you can earn up to $350 in cash back, but it’s broken up into different categories. This is relevant since some other cash back cards give you an increased earning rate with no restrictions on the spending categories. That said, the TD Cash Back Visa Infinite Card gives you up to $350 as the welcome bonus, whereas most other cash back cards cap at $200. On a positive note, the primary cardholder’s annual fee of $139 is usually waived for the first year.

As for the earning rate, you’ll get 3% cash back on groceries, gas, and pre-authorized payments. All other purchases earn you 1% cash back.

Benefits and perks

The TD Cash Back Visa Infinite card has many benefits, but you may not find all of them useful. That said, the value of some of these perks can sometimes make the card a keeper.

Free Deluxe TD Auto Club membership

Many people consider the free Deluxe TD Auto Club Membership the best perk of the TD Cash Back Visa Infinite card. This roadside assistance program will cover you 24 hours a day if you ever need emergency roadside assistance such as tows, tire changes, or even emergency gas. The actual value of this membership is just $79, but the money saved from just a single claim and the peace of mind from having a membership is essential.

Travel insurance

  • Travel medical – $2,000,000 / 10 days if under 65, 4 days for 65+
  • Delayed and lost baggage – $1,000 / 6 hours
  • Auto rental collision/loss damage – 48 days / $65,000

While it’s great that the TD Cash Back Visa Infinite card comes with travel medical and delayed/lost baggage insurance, it lacks trip cancellation and flight delay insurance.

Mobile device insurance

When you charge the full cost of your mobile device (cellphone or tablet) to your TD Cash Back Visa Infinite card, you’re covered up to $1,000 thanks to the included mobile device insurance. Note that if you’re on a subsidized phone plan, you’d have to charge the monthly bill to your card for your insurance to apply.

Purchase insurance

  • Purchase security – 90 days
  • Extended warranty – Up to one additional year

Purchases with your TD Cash Back Visa Infinite card are protected from theft, loss, and damage for 90 days. Your manufacturer’s warranty is also doubled up to one additional year.

Earn more at Starbucks

When you link your TD Cash Back Visa Infinite card to your Starbucks Rewards account, you’ll earn 50% more Stars. This isn’t a huge benefit, but it’s a nice extra perk to have.

Save with Avis Rent A Car and Budget Rent A Car

When you rent a car from Avis or Budget Rent A Car locations, you’ll get a minimum of 10% off base rates on rentals in Canada and the U.S. and at least 5% when renting internationally. To qualify for this benefit, you must pay for the rental car with your TD Cash Back Visa Infinite card.

Visa Infinite benefits

  • Concierge service – Get access to the Visa Infinite Concierge, who can help with requests such as dinner reservations, travel bookings, buying presents, and more.
  • Luxury Hotel Collection – When booking a hotel through the Visa Infinite Luxury Hotel Collectio, you’ll get exclusive benefits such as room upgrades and dining credits.
  • Dining series – Get access to exclusive dining events such as multi-course meals, mixology experiences, and celebrity chef meetings.
  • Wine country program – Use your card to get discounts and benefits at participating wineries in Ontario, British Columbia and Sonoma Valley.
  • Entertainment access – You’ll get early or special access to concerts, theatre shows, and films throughout the year.

When your TD cash back is paid out

Cash back earned with the TD Cash Back Visa Infinite card is paid out at any time via TD EasyWeb or the TD Mobile app as long as you’ve earned at least $25 in cash back. This is relevant since some other banks only pay out their cash back yearly. As long as your account is open and in good standing, your cash back never expires.

TD Cash Back Visa Infinite eligibility

  • You must be a Canadian citizen or permanent resident
  • You must be at least the age of majority in your province or territory of residence
  • $60,000 personal or $100,000 household annual income

Although no formal credit score is required, I recommend it to be at least 700 before applying. It’s also worth mentioning that if you don’t meet the minimum income requirement, you could apply for the TD Cash Back Visa Card instead.

How the TD Cash Back Visa Infinite compares

Since the TD Cash Back Visa Infinite card offers cash back rewards, there’s a lot of competition. While most people will compare similar cards, I’m featuring two additional cards that are worth looking at. 

TD Cash Back Visa Infinite vs. Scotia Momentum VISA Infinite

One of the best cash back credit cards in Canada is the Scotia Momentum VISA Infinite Card. What makes this card appealing is that you’ll earn 4% cash back on groceries, recurring bills, and subscription purchases,  2% cash back on gas and daily transit purchases, and 1% on everything else. In addition, the card comes with mobile device and travel insurance. If the earning rate and insurance weren’t enough to convince you, the welcome bonus is usually 10% cash back up to $2,000 in spending, and you’ll get the annual fee for the year waived.

TD Cash Back Visa Infinite vs. Tangerine Money-Back Card

For those who want to keep their fees down, the Tangerine Money-Back Card could be a good choice. The card has no annual fee, and you can choose two categories where you’ll earn 2% cash back. All other purchases earn you 0.5% cash back. If you set your cash back to deposit right into your Tangerine account, you can choose a third category that earns you 2% cash back. Admittedly, you’ll earn less cash back than the TD card, but there are no fees with this card, and you get to choose which categories give you a higher earning rate.

TD Cash Back Visa Infinite vs. American Express Cobalt Card

The American Express Cobalt Card may seem like an odd comparable, but since you can redeem 1,000 points for a $10 statement credit, it’s essentially a hybrid travel/cash back credit card. More importantly, the Cobalt card has an incredible earning rate of 5 American Express Membership Rewards points per dollar spent on eats and drinks, 3 points on streaming services, 2 points on travel and transit, and 1 point on all other purchases. Simply put, there’s no other card out there with a higher earning rate.

Final thoughts

Overall, I think the TD Cash Back Visa Infinite card is a decent credit card and will likely be a good fit for people in the following situations:

  • You want to earn cash back – You get a respectable earning rate, and you can cash out your rewards as long as you’ve earned at least $25 in cash back. 
  • You want roadside assistance – The included roadside assistance is worth $99 a year and gives you peace of mind whenever you’re on the road.
  • You currently bank with TD – Those with a TD All-Inclusive Bank Account Plan can get the annual fee for this card waived every year.

Despite the positive aspects of this card, the earning rate isn’t the highest. In addition, you’re only getting a limited number of benefits.

About Barry Choi

Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. His blog Money We Have is one of Canada’s most trusted sources when it comes to money and travel. You can find him on Twitter:@barrychoi

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