Quick overview of the TD Rewards Visa* Card
The TD Rewards Visa* Card makes it easy to earn TD Rewards Points when spending money on groceries and at restaurants, and particularly boosts rewards for booking travel through Expedia® For TD. With no annual fee or minimum income requirement, the card is basic and accessible, but leaves a bit to be desired in the value of its rewards points and its overall rate of return on spending.
Who is the TD Rewards Visa* Card for?
The TD Rewards Visa* Card is a great option for individuals who frequently spend money on groceries and dining out, as it offers enhanced rewards in these categories. Additionally, the card provides added value for travelers who prefer booking with Expedia, offering an impressive 4 points on those bookings, making it an impressive travel credit card that waives an annual membership fee.
Pros and cons of the TD Rewards Visa* card
Pros
-
Wide range of point redemption options, including travel†, Amazon.ca†, online retailers†, card statement credits†, etc.
-
Good rate of return on spending and redeeming via the travel platform Expedia® For TD†
-
Decent value for those that have a high volume of recurring bills
Cons
-
Point redemption values are moderate to poor
-
Low spending limits for earning extra points on groceries and restaurants
-
High credit score requirement
TD® Rewards Visa credit card welcome bonus
Earn a value of $50† in TD Rewards Points† to use on eligible Amazon.ca purchases plus, no Annual Fee. Conditions Apply. Account must be approved by January 6 2025.
How to earn TD Rewards points with the Rewards Visa credit card
The TD Rewards Visa* Card’s four-tier rewards structure that's sure to please the average consumer, but limiting in some ways:
- 4 TD Rewards Points on travel through ExpediaForTD.com†
- 3 TD Rewards Points on groceries and restaurants†
- 2 TD Rewards Points on recurring bills†
- 1 TD Rewards Point on all other purchases†
For TD, for which no maximum annual spending cap or maximum amount of points can be earned. Expedia fans note that the card has a hidden weakness in its earn rate for Expedia® For TD purchases. Travel booked directly on ExpediaForTD.com earns 4 TD Rewards Points on travel through ExpediaForTD.com† Rewards points per $1†, but booking the same travel itinerary you see on ExpediaForTD.com over the phone may reduce the rate. Buried in the fine print, it might be an unfortunate surprise for those who prefer booking with a customer service rep and would be a major bummer in the event that the ExpediaForTD.com site is not functioning well and bookings are necessitated by phone.
How to redeem points
Per our Loyalty Program Bible TD Rewards Points get their highest value when redeemed for travel on ExpediaForTD.com ($0.005 per point); points redeemed against independently booked travel get $0.004–$0.005 per point, depending on how large the redemption is. Other redemption paths are less valuable:
- Redeeming for cash credit against a card statement gets $0.0025–$0.005 per point
- Amazon.ca’s Shop with Points program gets $0.0033 per point
- Merchandise and gift cards generally get around $0.0025 per point or so
That said, the TD Rewards program does have a few bright spots worth noting: Your TD Rewards Points will never expire as long as you are a cardholder (even an inactive one), and points can be applied to a travel booking’s taxes and fees, which can take up a major chunk of an itinerary’s total price.
Key Benefits of the TD Rewards Card
While the selling point of this card may be that it has $0 annual fee, the wide range of bonus categories (and equally expansive redemption options) really make this card special. Cardholders earn 3 points per dollar spent on everyday categories like dining and groceries, 2 points per $1 spent on regularly recurring bills set up with the card account, and 1 point on all other eligible purchases.
As mentioned, cardholders enjoy several options when redeeming TD Rewards points. Beyond the basics, like cash back as statement credits, cardholders can opt to redeem their TD Rewards with Expedia to cover some (or all) of their travel costs, or to Shop with Points at Amazon.ca.
TD Rewards Visa credit card insurance coverage
The Rewards Visa credit card from TD provides essential insurance and protection benefits for cardholders, including:
- Mobile device coverage: Receive up to $1,000 in coverage should your eligible mobile device (including phones and tablets) get lost, broken through accidental damage, mechanical breakdown, or stolen.
- Purchase protection and extended warranty: Extended warranty and 90 days of protection for eligible product purchases using the TD Rewards Visa credit card.
- Visa Secure: Visa Secure provides you with increased security and convenience when you shop online.
- TD credit card payment protection plan (optional): Receive help with account payment obligations in case of job loss, total disability or loss of life.
- TD Auto Club (optional): Membership provides 24-hour emergency roadside assistance should your vehicle breakdown.
Rewards Visa cardholders also receive peace of mind thanks to instant fraud alerts; TD Fraud Alerts continuously monitors your TD account registered mobile phone and automatically alerts you if suspicious activity is suspected.
Extra Benefits of the Aeroplan Visa Infinite credit card from TD
- Earn more stars at Starbucks: Link the TD Rewards card to your Starbucks account and earn 50% more TD Rewards points and Stars.
- Mobile wallet compatibility: Use Apple Pay, Google Pay or Samsung Pay wherever contactless payments are accepted.
- TD mobile app: Manage your account, see transactions, block international purchases and more. Available in the Apple App Store and Google Play.
- Chip and pin technology for an added layer of security.
Rates and fees
Interest rates
Interest rates for the TD Rewards Visa* Card are fairly standard, with a 19.99% regular purchase APR; 22.99% balance transfer APR; and a 22.99% cash advance APR.
Fees
- Annual fee: $0. Additional cardholder is $0†
- Foreign transaction fee: 2.5% of the transaction in CND
- Balance transfer/cheque fee: 3% of the balance transferred or TD Visa Cheque
How does the TD Rewards Visa* compare?
Before applying for the TD Rewards Visa* Card we recommend comparing it to other no annual fee rewards cards to make sure you’re getting the optimal purchasing power for your needs. Here’s a look at the card compared side by side with two competitors:
MBNA Rewards Platinum Plus® Mastercard®
3.4
up to 10K pts
Welcome offerGood
Suggested credit scoreEarn 4 points per $1 spent on eligible restaurant, grocery, digital media, membership, and household utility purchases until $10,000 is spent annually. You could also receive up to 10,000 bonus points.
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
Pros
-
No annual fee
-
Accelerated rewards on groceries, restaurants, and more
-
Simple point structure with flexible redemption options
-
Generous introductory bonus of up to 10,000 points
-
No cap on total points earned
Cons
-
Lower cash back redemption rate compared to designated cash back cards
-
Limited benefits beyond rewards
-
Points system may not appeal to cash back enthusiasts
-
Higher earning categories have a spending cap of $10,000 annually
-
Better suited for travel rewards than cash back
Eligibility
Good
Recommended Credit Score
Recommended Credit Score
Good
10,000
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
Get up to 10,000 MBNA Rewards points†† as an introductory bonus (see details below)
10,000
19.99%
Purchase APR
22.99%
Balance Transfer Rate
24.99%
Cash Advance APR
$0
Annual Fee
2.5%
Foreign Transaction Fee 2.5% of the transaction in CDN
Purchase APR
19.99%
Balance Transfer Rate
22.99%
Cash Advance APR
24.99%
Annual Fee
$0
Foreign Transaction Fee
2.5%
The MBNA Rewards Platinum Plus® Mastercard® is consistently ranked as one of Canada’s best credit cards with no annual fee, and competes pound for pound with Canada’s best rewards cards overall. For most cardholders its welcome offer and point redemption values will be more appealing than the offerings from the TD Rewards Visa* Card. It also appears to be the more accessible of the two, as MBNA recommends only a Good credit score from Rewards Platinum Plus® Mastercard® applicants whereas TD recommends an Excellent score from those applying for the TD Rewards Visa* Card, which seems a bit excessive for an entry-level credit card.
‡, ††, ✪, ***, Terms and Conditions apply.
This offer is not available for residents of Quebec. For residents of Quebec, please click here.
Sponsored advertising. MBNA is a division of The Toronto-Dominion Bank (TD) and TD is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete information on this MBNA credit card, please click on the “Apply Now” button.
The Toronto-Dominion Bank is the issuer of this credit card. MBNA is a division of The Toronto-Dominion Bank. ®MBNA and other-trademarks are the property of The Toronto-Dominion Bank.
Is the TD® Rewards Visa credit card worth it?
Canadians who already book through Expedia—one of the major online travel booking hubs—are obvious candidates for the TD Rewards Visa* Card, as are those who have past history as TD clients and are looking for a familiar card issuer that they trust. The TD Rewards Visa* Card’s lack of an income requirement and annual fee make it a suitable beginner’s rewards card, though there are other cards out there that may pack more punch in the number of points to be earned and the value of those points come redemption.
Eligibility requirements of the Rewards Visa credit card from TD Bank
In order to be eligible for the TD Rewards Visa* Card you have to be a Canadian resident and at least the age of majority in your province or territory. There’s no minimum income requirement,.
Frequently asked questions about the TD Rewards Visa*
This offer is not available for residents of Quebec. For Quebec residents, please click here.
The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button. Sponsored Content.
†Terms and conditions apply.
Cory Santos is a finance writer, editor and credit card expert with nearly a decade of experience in personal finance. Cory joined Wise Publishing from BestCards, with bylines in numerous print and digital publications across North America, including the Miami Herald, St. Louis Post-Dispatch, Debt.ca, AOL, MSN and Medium as well as financial podcasts like KOFE Talk.
Compare other TD credit cards
Compare other cash back credit cards
Compare other cash back credit cards
Compare other Visa credit cards
Compare other Visa credit cards
Latest Articles
Disclaimer
The content provided on Money.ca is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.