TD credit cards are incredibly popular but with so many choices, it can be difficult to figure out which one is the best for you. First, you need to decide if you’re looking for the best travel credit cards in Canada or the best cash back credit cards in Canada. If you decided, you want to go with travel, then you need to pick a co-branded credit card such as the TD Aeroplan Visa Infinite card or something that gives you more flexibility like the TD First Class Travel Visa Infinite Card.
The problem with the cards I’ve mentioned is that they have a high minimum income requirement and annual fees over $100. What if you don’t meet the minimum income threshold and you prefer something that doesn’t have an annual fee> That’s where the TD Rewards Visa Card comes into play, think of it as TD’s entry-level travel credit card. Read my TD Rewards Visa Review now and find out if the card is any good
TD Rewards Visa Card benefits
- No annual fee (when applying by May 31, 2020)
- Earn 2,500 TD Rewards points when you make your first purchase
- Earn 2,500 TD Rewards Points in each of the first 3 months when you spend a minimum of $250 per month, up to a total of 7,500 TD Rewards Points
- Earn 3 TD points per $1 spent when you book on Expedia for TD
- Earn 2 TD points per $1 spent on grocery, restaurant, fast food, and recurring bill payments
- Earn 1 TD Point per $1 spent on all other purchases
- Purchase security and extended warranty
- Discount on Priority Pass membership
- Discounts at Avis and Budget Rent-A-Car
TD has been changing around their sign up bonus lately with the current promotion being 2,500 points after your first purchase and then another 2,500 points for the first three months when you spend a minimum of $250 each month. This promotion is a bit better than the old one since it requires less spending, but it’s still more complicated than it needs to be.
The regular earn rate is 3 TD points per $1 spent on Expedia for TD; 2 points per $1 spent on grocery, restaurant, fast food, and recurring bill payments; and 1 point for everything else. Considering this is a no-fee card, that’s a respectable rate of return, but hardly the best.
You do get purchase security which protects your purchases from loss, theft and damage for 90 days, as well as extended warranty protection which doubles your manufacturer’s warranty up to one additional year.
Getting a discount on a Priority Pass membership is nice if you travel, but if lounge access is important to you, you’re better off getting a credit card with lounge access. Finally, you get a small discount of 10% at Avis and Budget Rent-A-Car in Canada and the U.S.; and 5% off international locations.
How the TD Rewards Visa Card compares to others
Generally speaking, I consider all no-fee, entry-level travel credit cards to be similar as they all have pretty much the same benefits and earn rate. That said, the TD Rewards Visa Card does earn you extra points when you book through Expedia for TD which can be valuable. Each TD point has a value of 5 cents when booking through Expedia for TD, so that means you’re getting 1.5 cents in points for every dollar spent on Expedia for TD.
TD Rewards itself is a decent loyalty program. It doesn’t offer anything fancy, but it’s easy to understand which is why people love it. As mentioned, Expedia for TD gives you the best value for your points, but you can still use your points for any type of travel but it’ll cost you 250 TD Rewards points to claim $1 in travel which works out to 0.4 cents per point.
My TD Rewards Visa review is positive. It’s nowhere close to being a great travel credit card, but for what it is, it’s decent. If you’re looking for a no-fee travel credit card that doesn’t have a high income requirement, then this card might be a good fit for you.