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 loyalty program in TD Rewards. When comparing 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. Note that this article covers TD Rewards in Canada. All the credit cards and loyalty programs I’m comparing TD Rewards to are Canadian. Read my TD Rewards review now to find out how you can earn and redeem points to your maximum potential.
How to earn TD Rewards points
You can earn TD Rewards points via TD credit cards. You get the most points from the various sign up bonuses, but you obviously also earn points on all of your spending. 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 the benefits of the TD First Class Travel Visa Infinite Card below since it’s TD’s flagship credit card and easily the best TD credit card.
TD First Class Travel Visa Infinite
- $120 annual fee – First year free (when applying by Dec. 1, 2019)
- Earn 20,000 TD points after your first purchase
- Earn 5x the TD Points on all purchases in the first 3 months up to 20,000 points per month, 60,000 points total
- Earn 10,000 TD points when you add an authorized user ($50 fee)
- 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
I should mention that if you have a TD All-inclusive plan, you can get the annual fee for the TD First Class Travel Visa Infinite waived every year. This can be appealing since your points never expire as long as you have an active credit card earning TD Rewards points. The sign up bonus changes from time to time so I’ll try my best to keep things updated on this site. Read my TD First Class Travel Visa Infinite review now if you want to know all the details about the card.
The Value of TD Rewards points
The value of TD Rewards points 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
- 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 which 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 redeem 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.
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.
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 (it takes 250 points for $1 in travel), 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.
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 hotels expenses.
Redeem 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 Rewards 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 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 need to take into consideration that you can only redeem by $250 increments which 62,500 points each.
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.
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.