**This post may contain affiliate links. I may be compensated if you use them.

TD’s most popular premium credit card might be the TD Aeroplan Visa Infinite, but many people don’t realize that TD also has its own credit card travel loyalty program in TD Rewards. When you compare TD Rewards points to other bank reward programs such as BMO Rewards, Scotia Rewards and RBC Rewards, TD Rewards is arguably the simplest program to understand and redeem which is why it’s so popular.

What also makes TD appealing is that they have many branches in Canada and the U.S. so people are familiar with the brand. Despite the fact that TD Rewards points are easy to earn and use, there are ways to maximize the value of your points. Keep reading and find out everything you need to know about TD Rewards.

Note that this article covers TD Rewards points in Canada. All the credit cards and loyalty programs I’m comparing TD Rewards to are Canadian.

How to earn TD Rewards points

You can earn TD Rewards points via TD credit cards. The quickest way to earn TD Rewards points is from the various sign up bonuses, but you’ll obviously also earn points on all of your purchases. TD has 3 personal credit cards that earns you TD Rewards points: the TD Rewards Visa, the TD Platinum Travel Visa card and the TD First Class Travel Visa Infinite Card. I’ve highlighted their two most popular cards below

TD First Class Travel Visa Infinite

  • $120 annual fee – First year free (when applying by November 7, 2020)
  • Earn 20,000 TD Rewards points after your first purchase
  • 40,000 additional TD Rewards points when you spend $1,500 in the first 90 days
  • Earn 9 TD points per $1 spent when you book on Expedia for TD
  • Earn 3 TD Points per $1 spent on all other purchases
  • Travel insurance included
  • Purchase security
  • Extended warranty

The TD First Class Travel Visa Infinite is TD’s flagship credit card. It doesn’t earn you as many TD Rewards points as the TD Platinum Travel Visa card, but it’s arguably more popular. I suspect the reason it’s such a popular card is that you can get the annual fee waived every year if you have a TD All-inclusive plan. Even if you don’t have that plan, the annual fee for the first year us usually free.

The standard sign up bonus is typically worth 20,000 points, but TD often runs promotions where you can earn an additional 40,000 TD Rewards points as long as you meet their minimum spend requirement. It’s definitely worth monitoring the current TD First Class Travel Visa Infinite offer as they can sometimes be incredibly valuable.

TD Rewards Visa Card 

  • No annual fee 
  • Earn 2,500 TD Rewards points when you make your first purchase 
  • 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
  • Discounts at Avis and Budget Rent-A-Car

The TD Rewards Visa card is an entry level credit card so it has a lower earn rate, but comes with no annual fee. The standard sign up bonus is 2,500 TD Rewards points after your first purchase, but like the TD First Class Travel Visa Infinite card, there are often promotions where you can earn an additional 7,500 points. Interestingly enough, TD considers this a student credit card, so if you qualify, it’s a great way to earn travel rewards while you’re still in school.

TD Rewards points value

TD Rewards points value varies depending on how you use your points. Here is a list of the different ways you can redeem your points and how much 10,000 points would get you in each scenario.

  • Booking travel through Expedia for TD – $50
  • Booking travel via Book Any Way – $40
  • Shop the mall – $30
  • Gift cards – usually $25
  • Statement credit – $25
  • Merchandise – varies depending on the item, usually not a good value
  • Redeem for education – $40

As you can see, the best value for your points is to book travel through the Expedia for TD portal. Gift cards, statement credits, and merchandise aren’t worth it at all so don’t waste your TD Rewards points on them. Redeeming for education is a decent value, but there are some conditions that I’ve highlighted below.

How to redeem TD Rewards points

Now that you know the value of TD Rewards points, you’ll want to know how to actually make a redemption. Regardless of what you redeem your points for, it’s a pretty straightforward process.

Expedia for TD

The TD Rewards travel portal is Expedia for TD and as you’ve likely guessed, it’s backed by Expedia. Since almost everyone is already familiar with Expedia.ca, the booking experience is relatively simple which makes TD Rewards arguably the easiest travel booking portal to navigate from all the major banks in Canada.

Similar to all other bank travel portals, you can book flights, hotels and car rentals, but TD Rewards shines by having access to Expedia’s inventory which is larger than most other bank programs. For example, Expedia for TD also offers all-inclusive vacations, cruises, vacation rentals, rail trips and attractions. 

There is no minimum amount of TD Rewards points required to make a redemption on Expedia for TD, but you do need 200 TD Rewards points to get $1 off your Expedia for TD booking. Expedia for TD will automatically suggest you redeem points at check-out so there are no extra steps required if you want to use your points. Your points are essentially worth 0.5 cents each.

Make sure to opt-in for the TD Rewards e-mails since they often have good promotions. For example, they recently had $100 off a $400+ hotel booking made on Expedia for TD which gives you even more value for your points.

Redeem TD points for Book Any Way Travel

TD Rewards also allows you to redeem for travel expenses charged on your credit card even if these expenses aren’t booked through Expedia for TD. While the redemption value for Book Any Way Travel is 20% lower than Expedia for TD, I really like having this option. Hotel chains usually only give points and elite status perks when you book directly with them. If you have status, it’s often worth booking directly to take advantage of your benefits even though you’re not getting as much value had you booked through Expedia for TD. Book Any Way travel also allows you to use points to offset travel expenses that you can’t find on Expedia for TD like AirBnB bookings or RV rentals.

The exact redemption ratio is 250 points will allow you to redeem $1 in travel purchases, so your points are worth 0.4 cents each. This ratio applies to the first $1,200 of a single travel purchase. Any travel purchases over $1,200 will only cost you 200 TD points to claim $1. To be clear, the first $1,200 would cost you 250 TD points for $1, from $1201+, it would be 200 TD Rewards points to redeem $1 in travel.

What’s interesting is that the TD Book Any Way Travel is pretty generous when it comes to valid travel expenses. In addition to usual travel expenses like flights and hotels, TD accepts out of province restaurants, gas, attractions and even parking expenses. These redemption options can be useful since many other programs already cover flights and hotel expenses.

There are no blackout dates when you redeem your TD points via Expedia for TD and Book Any Way Travel. Your TD Rewards points can also be used for fees and taxes.

Redeem TD points for cash, gift cards and merchandise

TD Rewards points can be redeemed for a statement credit at a rate of 400 points for $1 which is half the value of what you get when redeeming on Expedia for TD. I really don’t recommend using your points for a statement credit

You can also redeem TD points for gift cards where the value is usually 400 points $1. Since this is essentially the same value as a statement credit, you might as well claim a statement credit with your points. Again, you’re better off using your points via Expedia for TD.

Similar to almost all other loyalty programs, TD Rewards has a merchandise catalogue from which you can order electronics, travel related objects, kitchen accessories, etc. The redemption value for merchandise is usually terrible, but they have sales from time to time which may interest you.

Redeem TD points for education

I kept this one for the end since Redeem for Education is an original and interesting way to redeem TD Rewards points. This option allows you to redeem your points to buy HigherEdPoints Education Credits. Higher Ed Points is an organization that has agreements with loyalty programs and education institutions and manages to convert loyalty points into education credits. You can see the list of all participating institutions on their website.

The redemption value of these credits is decent since 250 points get you $1. That works out to the same rate as Any Way Travel, but you need to take into consideration that you can only redeem by $250 increments which 62,500 points each.

This option is also available for outstanding student loans too, so you could get more value out of your points if you factor in the interest you’ll save by paying off your loan earlier.

Redeem TD Rewards points at Shop The Mall

A unique feature of TD Rewards is the ability to use your points when making purchases at major online retailers including Gap, Apple, Hudson’s Bay, Reitmans, Carter’s Indigo and more. To use this option, you need to download the browser extension and install it. Once you have it installed, you’ll see a toolbar letting you know when you can redeem your TD points.

Although this is a convenient way to use your points, it would cost you 300 points to get $1 in online shopping. That means your TD Reward points would only be worth .03 cents each which is not a good deal. 

How TD Rewards compares to others

TD Rewards is a solid loyalty travel program that will appeal to people who want something simple. Since you can book on Expedia for TD or book on your own, there are no blackout dates or award redemption charts to worry about. The only real “negative” aspect of TD Rewards is a lack of fixed point flight redemption chart like American Express Membership Rewards has. That means the value of TD Rewards points is limited to 0.5 cents per point. Although the TD credit cards that are offered are decent, many of the best travel credit cards in Canada have better sign up bonuses. That said, TD Rewards is on the bottom end of my rankings of Canada’s bank travel programs.

Final thoughts

My TD Rewards review is positive. Points are easy to accumulate and are easy to use with no blackout dates. That said, TD Rewards does rank near the bottom of my list of Canada’s best bank travel programs. If flexibility and ease of use are important criteria when choosing a travel program, you should consider TD Rewards. 

TD Rewards Points | How to maximize your value


  1. GYM on September 20, 2019 at 2:54 PM

    We redeemed ours for Home Depot gift cards and got $175 off a Weber BBQ and now husband just got the card and we will book our interisland Hawaii flights with the bonus points. Straightforward program and easy to use.

    • Barry Choi on September 20, 2019 at 3:16 PM


      Gift cards are such a low value, I’m surprised you guys used your points for that.

  2. Mike on December 2, 2019 at 10:44 AM

    Great review Barry. However, I consider the combination of the Scotia Passport Visa Infinite and Scotia’s rewards program far superior because of the absence of foreign transaction fees. I think that’s paramount when selecting a travel rewards card (and its associated rewards program) because you are obviously interested in travel and presumably some portion of your travel is outside of Canada. If you’re retired like we are and spend a good portion of your year outside the country, those 2.5% (or higher) fees add up quickly and can dwarf the $100-$200 in annual card fees. The bottom line is everyone should run the numbers based on their own spending patterns to determine which card and rewards program will deliver the best value. In our case, it wasn’t even close.

    • Barry Choi on December 2, 2019 at 10:57 AM

      Hey Mike,

      In my ranking of all the programs, I have TD at #6 and Scotia at #3 so I agree with your assessment. Although TD doesn’t have a card with no forex fees, there are many cards without an annual fee and with no froex fees so I don’t consider that a major deal-breaker.

      • Mike on December 2, 2019 at 12:04 PM

        Hi Barry,
        I agree that it shouldn’t be a must-have “deal-breaker.” But I do believe forex fees is something people should definitely be taking into account when estimating total return value and comparing travel cards and travel rewards programs. For some who only spend two weeks outside Canada every year, it won’t make a big difference, but they shouldn’t ignore it.

  3. Kim on January 28, 2020 at 3:49 PM

    I really love your articles.

    Like Mike said, there are programs out there that are better than this for a lot of people. Really read the small print before choosing. I completely agree on that foreign exchange thing. It’s got me really looking at the Amazon credit card for Canada right now because TD is really biting me on that.

    I’d love to see you write a piece comparing the travel dollar values of these ‘point collection programs’ (for example: td versus scotia versus pc).

    Although maybe you have and I just haven’t found that article yet.

    K 🙂

  4. […] TD Rewards is a good program and I recommend it to anyone who wants an easy program to understand. However, TD Rewards still ranks low compared to others for a few reasons. Although you can redeem 200 points for $1 off ExpediaForTD, you need 250 points for $1 when using the Book Any Way feature which decreases the value of your points. […]

Leave a Comment