TD Cash Back Visa Infinite Review

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When it comes to TD credit cards, the TD Cash Back Visa Infinite is one of the most popular choices since it’s their premium cash back credit card. Best of all, this credit card often has a promotion where you get the annual fee waived for the first year and there’s increased cash back offer for new applicants. Read my TD Cash Back Visa Infinite Review and find out how this card compares to some of the best cash back credit cards in Canada.

TD Cash Back Visa Infinite benefits

  • $120 annual fee – First year free (when signing up by September 8, 2020)
  • Earn 10% Cash back on all purchases for the first 3 months of cardmembership up to a total spend of $2,000
  • Earn 3% cash back on grocery and gas payments, as well as recurring bill payments
  • Earn 1% cash back on all other purchases
  • Deluxe TD Auto Club Membership included (roadside assistance)
  • Travel medical insurance

The TD Cash Back Visa Infinite is incredibly popular since it has a regular promotion where the annual fee of $120 is waived for the first year and you’ll earn 6% in cash back for the first three months of cardmembership. The 10% earn is capped on a total spend of $2,000 so that means you can earn up to $200 as a welcome bonus.

Once the promotional period ends, you’ll earn 3% cash back on grocery, gas, and recurring bill payments. Any other purchases earn you the standard 1%.

At first glance, this card may not be that appealing, but you also get a Deluxe TD Auto Club Membership which costs more than $100 a year so applying for this card just for the free roadside assistance could be worth it.

One thing that’s lacking with this card is travel insurance. You do get travel medical, but it’s only good for 10 days. The only other travel insurance you get is delayed or lost baggage with a maximum value of $1,000. It’s not that unusual for a cash back card to lack travel insurance, but that doesn’t make it any less disappointing.

On a positive note, you can redeem your cash back at any time as long as you’ve earned at least $25.

As this is a Visa Infinite card, you require a personal income of $60,000 or a household income of $100,000 to qualify for the card. If you don’t meet that requirement, consider the Tangerine Money-Back Card instead.

How the TD Cash Back Visa Infinite compares to others

I really wanted to include the TD Cash Back Visa Infinite Card on my list of the best cash back credit cards in Canada, but I think there are just better options out there.

I personally think the Meridian Visa Infinite Cash Back Card is the best cash back card. The annual fee of $99 is wavied for the first year and the cash back you can earn is simply better. You get 4% cash back on gas and grocery purchases; 2% cash back on pharmacy and utility bill payments; and 1% on all other purchases. In other words, EVERY cash back category is better with the Meridian card. You also get better travel insurance and mobile device insurance.

There’s also an annual fee of $120 to consider. Yes, you get it waived for the first year, but come year two, you need to pay it. That means you need to spend at least $4,000 on the 3% categories just to break even. That’s not a big deal really, but some people may prefer one of the best credit cards with no annual fee instead.

Final thoughts

My TD Cash Back Visa Infinite is neutral. It’s not the best cash back card in Canada, but it does give you a free Deluxe TD Auto Club Membership which is worth paying the annual fee for. It’s also worth noting that TD All-Inclusive plan holders can get the annual fee waived every year on this card. 

TD Cash Back Visa Infinite Review

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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