TD Rewards Visa Card Review

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The TD Rewards Visa Card is a highly underrated credit card. You get a respectable welcome bonus, a decent earning rate, and mobile device insurance. Admittedly, TD Rewards may not be as flexible as other travel rewards programs, but since Expedia powers it, you can book almost any type of travel with your points. 

This card is often overlooked since there are much better premium credit cards and travel programs available. However, this is an excellent card for those looking for a no fee card without a high personal or household income requirement. Read my TD Rewards Visa Card review now for the full details.

TD Rewards Visa

  • $0 annual fee
  • 15,152 TD Rewards Points Welcome bonus
  • Earn 4 TD Rewards points per $1 spent on travel booked through Expedia for TD
  • Earn 3 points per $1 spent on grocery and restaurant purchases
  • Earn 2 points per $1 spent on recurring bills
  • Earn 1 point per $1 spent on all other purchases
  • Mobile device insurance

Welcome bonus and earn rate

The welcome bonus for the TD Rewards Visa Card is 15,152 TD Rewards Points as long as your account is open, active, and in good standing after 90 days from account opening. While that number may seem oddly specific, it translates to $50 on That said, if you were to redeem those points on Expedia for TD, they’re worth $75.76. That’s pretty good for a no fee card, especially since it doesn’t require you to spend any money to get your bonus.

As for the earning rate, you’ll get 4 TD Rewards points per dollar spent on travel booked through Expedia for TD, 3 points on grocery and restaurant purchases, 2 points on recurring bills, and 1 point on all other purchases. Since 1 TD Reward point is worth up to 0.5 cents each, that’s a real return of 1.5%, 1% and 0.5%, respectively. 

Benefits and perks 

For a no fee card, the TD Rewards Visa Card comes with a surprising number of benefits. In fact, the top perk included is arguably reason enough to get the card.

Mobile device insurance 

Mobile device insurance of up to $1,000 that covers loss, theft, and damage is included as long as you charge at least 75% of the device (cellphone or tablet) to your TD Rewards Visa Card. If you opt into a subsidized phone plan, 75% of your monthly bill must be charged to your card for your mobile device insurance to be valid. Note that depreciation does apply if you ever need to make a claim.

Uber One membership

TD Rewards Visa Cardholders get a free Uber One membership for 6 months. With this membership, you won’t pay delivery fees, and you’ll get 5% off at eligible restaurants with a minimum purchase of $15. No fee delivery fees also apply to eligible grocery and non-restaurant stores when you spend at least $40. You just need to set your TD Rewards Visa Card as the payment method by May 23, 2024, and follow the prompts to enroll in Uber One. This membership is typically worth $9.99 per month.

Earn more at Starbucks

When you link your TD Rewards Visa Card to your Starbucks Rewards card, you’ll earn 50% more Stars at Starbucks. This is in addition to the regular TD Rewards you’ll get when paying with your card. If you’re new to Starbucks Rewards, you’ll get 200 bonus Stars when making a qualifying purchase at Starbucks within 7 days of joining. Although you can redeem your TD Rewards points for Starbucks Stars, it’s not the best value.

Save with Avis and Budget Rent-A-Car

When renting a vehicle with Avis Rent-A-Car and Budget Rent-A-Car in Canada or the U.S., you’ll get at least 10% off the lowest available base rate. For international rentals, you’ll get at least 5% off the lowest base rate. For this offer to apply, you must pay with your TD Rewards Visa Card.

Purchase insurance

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

When making purchases with your TD Rewards Visa Card, you’re protected from loss, theft, and damage for 90 days, thanks to the included purchase security. As for your manufacturer’s warranty, it’s doubled up to one additional year. 

How to redeem your points

The best value for your TD Rewards points is using them on travel. That said, how you book your travel has an impact on the overall value of your points.

Expedia for TD

When using Expedia for TD, you can redeem 200 TD Rewards points for $1 of your travel purchase. This effectively makes one TD Rewards point worth .5 cents each. What makes Expedia for TD appealing is that it’s virtually the same as the regular Expedia site. That means you can book things such as flights, hotels, car rental, all-inclusive packages and more with your TD Rewards points.

Booking on your own

Occasionally, some people prefer to book their travel on their own. They do this because it may allow them to access their status benefits or lower prices. While this is a great strategy, if you want to redeem your TD Rewards points, it’ll cost you 250 points for $1 off. That means you’d get a 20% lower value compared to Expedia for TD. However, travel purchases that have a value of $1,201 or more would get a redemption value of 200 points for $1 (the first $1,200 still redeems at 250 points for $1).

Other uses for your points

Besides travel, you can also use your TD Rewards points at, for gift cards, merchandise and more. These redemptions have a lower value than travel purchases, so it’s advised you avoid them.

TD Rewards Visa eligibility

  • You’re a Canadian citizen, or you’re a permanent resident
  • You’re at least the age of majority in the province or territory in which you reside

The TD Rewards Visa Card has very basic eligibility requirements. In fact, you don’t even need a minimum income to be considered for the card. In addition, there’s no listed credit score required to be approved. That said, I recommend your credit score be at least 660 before applying.

How the TD Rewards Visa compares

For a no fee rewards card, the TD Rewards Visa has a fair amount of competition. When looking at other cards, you should consider the earning rate, additional benefits, and how the rewards work.

TD Rewards Visa vs. American Express Green Card

The American Express Green Card gives you a straight 1 American Express Membership Rewards points per dollar spent on all purchases. This will appeal to people who don’t do a ton of spending on the bonus categories offered by the TD card. Although the Amex Green Card doesn’t offer many benefits, the points you earn are incredibly flexible since you can transfer them to Aeroplan at a 1:1 ratio. This is relevant since one Aeroplan point can easily be worth 1.5 – 2 cents each.

TD Rewards Visa vs. Scotiabank Scene+ Visa Card

The Scotiabank Scene+ Visa Card is popular since you’ll earn 2 Scene+ points per dollar spent at Cineplex and Empire-owned grocery stores. All other purchases earn you 1 Scene+ point per dollar spent. One Scene+ point is worth 1 cent, so there’s some good value here. That said, there are limited benefits that come with the Scene+ Visa Card, and you must have a minimum personal income of $12,000 to be considered.

TD Rewards Visa vs. ION Visa Card

Those that bank with RBC and want a no fee rewards card should check out the RBC ION Visa Card. With this card, you’ll earn 1.5 Avion points for per dollar spent on groceries, rideshares, daily public transit, gas, EV charging, streaming, digital gaming, and subscriptions. All other purchases earn you 1 point per dollar spent. While this earning rate may seem high, the points you earn are the lowest tier of Avion Rewards points. It takes 140 points to claim a $1 gift card, which means your points are worth .71 cents each.

Final thoughts

My TD Rewards Visa Card review is positive. It’s a perfectly acceptable entry-level rewards card that’s ideal for people in the following situations:

  • You don’t want to pay an annual fee – There’s no monthly or annual fee to worry about with this card.
  • You want to earn travel rewards points – TD Rewards points are best used on Expedia for TD where there are no blockout dates or restrictions to worry about.
  • You don’t have a high income – This card has no minimum personal income requirement to be considered. 

For a basic no fee entry-level card, it’s amazing that you get mobile device insurance. While TD Rewards is pretty basic, it gets the job done. That said, there are better travel rewards programs out there, so consider your goals and apply for a card that makes the most sense for you.

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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