The Best TD Credit Cards in Canada

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When looking at the list of the best TD credit cards in Canada, it’s important to note that which card you choose really depends on your personal situation. Some people will prefer to earn travel rewards, while others may want a card that has no annual fee. Since there are so many cards to choose from, you’ll want to examine each card to see what they do best.

The best TD credit cards in Canada are purely subjective. That said, credit cards are usually designed with a specific purpose. With TD credit cards, there will always be a card that fits your profile. Here are the best TD credit cards in Canada.

The best TD credit cards in Canada

Credit cardBest for
TD Aeroplan Visa Infinite CardAeroplan
TD Cash Back Visa Infinite CardCash back
TD First Class Travel Visa Infinite CardGeneral travel
TD Emerald Flex Rate Visa CardLow interest
TD Cash Back Visa CardNo annual fee / Students

TD Aeroplan Visa Infinite Card

  • $139 annual fee – First year free – Must apply by December 5, 2021
  • 10,000 Aeroplan points after your first purchase
  • 15,000 additional Aeroplan points when you spend $1,000 in the first 90 days
  • Air Canada Buddy Pass after you spend $1,000 in the first 90 days
  • Earn 1.5 Aeroplan points for every $1 spent on gas, groceries, and Air Canada purchases
  • Earn 1 Aeroplan point for every $1 spent on all other purchases
  • Air Canada Travel Benefits: including eligible Free First Checked Bag (up to 8 people), Status Qualification Boost and Preferred Pricing on flight rewards
  • Aeroplan Elite Status Benefits: Rollover Status Qualifying Miles, Rollover eUpgrade Credits and Priority Airport Upgrades
  • Comprehensive travel insurance package
  • Mobile device insurance
  • Purchase security
  • Extended warranty
  • NEXUS+ application fee reimbursement of up to $100 for the primary cardholder and additional cardholders 

Not only is the TD Aeroplan Visa Infinite Card the best TD credit card for Aeroplan points, but it’s also one of the best Aeroplan credit cards in Canada. Some people are a bit hesitant to collect Aeroplan miles since Air Canada formally purchased Aeroplan and there may be changes coming to the program. But here’s the thing, even if changes come, you’re still earning Aeroplan points with this credit card. Why would you stop collecting Aeroplan miles when they can be so valuable?

The additional benefits that come with the TD Aeroplan Visa Infinite Card are generous. You get a comprehensive travel insurance package and free checked bags when flying Air Canada. You also get purchase security and extended warranty protection on your purchases which could save you some money. It’s also worth paying attention to the welcome bonus is usually a high number of points or a combination of a Buddy Pass and points.

TD Cash Back Visa Infinite Card

  • $120 annual fee – First year free (Must apply by December 5, 2021)
  • Earn 6% Cash Back on all Purchases for the first 3 months 2 up to a total spend of $2,000.
  • Earn 3% cash back on grocery, gas payments, and recurring bill payments
  • Earn 1% cash back on all other purchases
  • Deluxe TD Auto Club Membership included (roadside assistance)
  • Travel medical insurance

The best TD credit card for cash back is the TD Cash Back Visa Infinite Card. The regular earn rate is 3% cash back on grocery, gas and recurring bill payments, and 1% on everything else, but the current promotion is 6% cash back on all purchases for the first three months up to $2,000 in spending. What people like about cash back is that it’s simple to understand since you’re getting money back instead of points. 

The card comes with an annual fee of $120, but there are often promotions where it’s waived for the first year. Even if you have to pay the annual fee, it’s still worth it since you get a Deluxe TD Auto Club Membership as a cardholder. The regular value of this is $150+ and it’s obviously incredibly helpful if you ever run into car issues. I personally have used this service a few times to have my battery boosted and even to have my car towed. For this reason alone, I consider the TD Cash Back Visa Infinite Card one of the best TD credit cards in Canada.

TD First Class Travel Visa Infinite Card

  • $120 annual fee – First year free – Must apply by December 5, 2021
  • Earn 20,000 TD Rewards points after your first purchase
  • 80,000 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 Card is the best TD credit card for travel rewards since it earns you TD Rewards points. TD Rewards is TD’s in-house travel rewards program and is extremely popular with Canadians since you can use your points on any travel purchase available through Expedia for TD. Admittedly, TD Rewards ranks on the lower end of my ranking of Canada’s bank travel rewards programs, but there’s no denying that your points are easy to use.

As for the TD First Class Travel Visa Infinite Card itself, it’s a decent all-around card since it gives you 3 TD Points per $1 spent on all your purchases which works out to a 1.5% return. If you’re making purchases via Expedia for TD, you get 9 points per $1 spent so that’s a 4.5% return! The sign up bonus changes frequently, but it’s usually worth at least $200 and often goes up to $400. The annual fee of $120 is usually waived for the first year. 

TD Emerald Flex Rate Visa Card

  • $25 annual fee – First year free (Until May 31, 2020)
  • TD Prime rate+ 4.50% to 12.75% interest rate
  • Save with Avis Rent A Car and Budget Rent A Car
  • Purchase security 
  • Extended warranty protection

The best TD credit card for low interest is the TD Emerald Flex Rate Visa Card. Instead of having a fixed low interest rate, this card uses the TD Prime rate+ 4.50% to 12.75% to calculate your interest rate. This may sound complicated, but it can work to your advantage. For example, as of November 19th, 2019, the TD Prime rate is 3.95%. If you have a good credit score, you’d probably be approved at 4.50% so your total interest rate would be 8.45% which would make the TD Emerald Flex Rate Visa Card one of the best low interest credit cards in Canada.

There’s sort of a catch though. Having a low interest rate is great, but that’s only helpful if you’re carrying a balance. You obviously never want to carry a balance since that would require you to pay interest. This card also doesn’t have a balance transfer option so you can’t move any balances to this lower interest card. The TD Emerald Flex Rate Visa Card is still a great TD Bank credit card, but only in specific situations.

TD Cash Back Visa Card

  • No annual fee
  • Earn 1% cash back on grocery, gas payments, and recurring bill payments
  • Earn 0.5% cash back on all other purchases
  • Save with Avis Rent A Car and Budget Rent A Car
  • Purchase security 
  • Extended warranty protection

Admittedly, the TD Cash Back Visa Card is not one of the best cash back credit cards in Canada, but it’s the best TD credit card with no annual fee. When you look at the benefits, it’s basically a no frills version of the TD Cash Back Visa Infinite Card but this shouldn’t be seen as a bad thing. The card has no annual fee and has a much lower personal income requirement to qualify for the card which are both positives.

The earn rate is a respectable 1% cash back on grocery, gas payments, and recurring bill payments, and 0.5% on all other purchases. This is an ideal card for students or for people who want to start building their credit score.

Why get a TD credit card?

Getting a credit card is always a good idea since it’ll help you build your credit score. Technically speaking, you can get a credit card from any financial institution, but if you bank with TD, it just makes sense to get one from them. Another reason to choose a TD credit card is for the features offered. Expedia for TD is a program unique to TD that’s easy to navigate. TD also has great co-branded credit cards thanks to their partnership with Aeroplan. Overall, TD will have a credit card that’s suitable, regardless of your needs.

How to pick the best TD credit card

Even though every TD credit card has a specific purpose, most people have multiple needs or priorities. That can make choosing just one card difficult. When it comes down to it, you should consider the following to help you narrow down your choices.

  • Tybe of benefits – This is the obvious starting point. Is there a specific type of benefit you want? Travel and cash back are the most popular choices, but having a low interest rate may also be important.
  • Annual fee – Many TD credit cards come with an annual fee, but there are also a few that don’t charnge you anything. Not having to pay a fee is great, but you’ll typically get fewer benefits compared to a card with a fee.
  • Welcome bonus – The sign up offer can also play a vital role in your decision making. If there are two cards you’re considering, the bonus available can be the deciding factor. Additionally, if there’s currently a good promotion, it may encourage you to apply right away.
  • Additional benefits – Many of the additional benefits that come with TD credit cards may be of interest. There’s roadside assistance, extended warranty, free checked bags, and more to consider.

Final thoughts

The best TD credit cards in Canada can be a vital part of your wallet. When used responsibly, you’ll build your credit be able to take advantage of the benefits that come with your card. The key thing is to know what you get and to maximize your value.

The Best TD Credit Cards in Canada

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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