TD Cash Back Visa ® Card

Accelerated Cash Back Earning Rate
1%
Annual Fees
$0
Purchase Interest Rate
19.99%
Cash Advance Interest Rate
22.99%
Recommended Credit Score
740 850 670 739 580 669 0 579
Fair-Good
No annual fee. No fuss. Earn Cash Back Dollars.

The TD Cash Back Visa® is an objectively simple cashback card with an appealing value proposition. The card is more accessible than most cashback cards, with no minimum annual income requirement and no annual fee. This broad accessibility is matched by an entry-level cashback rate and relatively basic perks, making it a worthwhile card for those who want to earn and redeem at least some cash back on their everyday purchases without paying an annual fee to do so.

Cashback Structure

Cardholders who use the TD Cash Back Visa® for their grocery, gas, and recurring bill payments will earn 1.00% cash back. This makes accumulating cash back rather easy, given that these are three of the most common purchase categories for all consumers. All other expenses charged to the card earn 0.50% cash back per $1 spent.

It’s very important to note that once a cardholder reaches $5,000 in annual spending (or $50 cash back) on either gas, groceries or recurring bills, the earn rate for those categories is reduced to the base 0.50% for the remainder of the year and on an individual basis. Hitting the cap in grocery spending will not reduce your cash back rate on gas, for example. Nor will any single category’s earn rate be affected should the sum spending over all categories reach $5,000. This means that if you’re planning on spending a lot with the card on any single category, then you might find yourself limited to the lower rate early on.

Easy redemption of the cash back is where the card really shines, as TD allows cardholders to redeem cash back against their card statement whenever they like. Many Canadian cash back cards are far more restrictive with redemption, allowing cardholders to redeem cash back at only one specified time of year. To redeem cash back TD Cash Back Visa® cardholders will need at least $25 worth of cash back accrued, however, and have an account in good standing. With TD, so long as your account is opened and in good standing, cash back is unlimited and never expires. So if you forget to redeem it before the end of the year, there’s nothing to worry about.

Feature Breakdown

  • 1.00% cash back on groceries², gas², and recurring bills³
  • 0.50% cash back on everything else⁴
  • $0 annual fee
  • Flexible cashback redemption⁵
  • Purchase protection and extended warranties⁶
  • 10% off Avis and Budget car rentals in Canada and the US; 5% off internationally

Please note that Visa® defines a ‘recurring bill’ as follows: insurance premiums, magazine/newspaper/online streaming subscription fees, and membership and telecommunications fees. Cardholders that wish to exploit this feature are also advised to ask the sources of their recurring bills if they can accept pre-authorized payments.

Purchase protection covers eligible new items purchased with the card for 90 days, while the extended warranty benefit provides up to an extra year on top of the original manufacturer’s warranty.

Drawbacks

One of the card’s biggest drawbacks is its low(ish) cap on annual spending before the accelerated cashback rate is halved/demoted to the base cashback rate. Whether or not this is really a drawback depends on the cardholder’s spending habits: some families can charge $5,000 worth of groceries to a credit card in a matter of months, others might not reach that amount in a year.

There are some no-annual-fee Canadian cashback cards that do not impose an annual spending cap, like the Rogers World Elite and Platinum Mastercard, but they of course come with their own drawbacks (like less flexible cashback redemption).

Who’s the Card For?

The TD Cash Back Visa® is a great match for people who just want a basic introductory credit card that gives them purchasing power, will help their credit score (if used responsibly), and will generate some cash back—without the need for a high annual income or flawless credit history. Big spenders, however, may want to look elsewhere for annual fee cashback cards with higher accelerated earn rates and more significant perks.

 

Legal Footnotes
² Earn 1% in Cash Back Dollars (“Gas Rebate”) for each $1.00 in Purchases of gas or gas station services or products (“Gas Purchases”) charged to your TD Cash Back Credit Card Account (“Account”) and earn 1% in Cash Back Dollars (“Grocery Rebate”) for each $1.00 in Purchases of groceries or grocery items (“Grocery Purchases”) charged to your Account. Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Gas Purchase or Grocery Purchase, as applicable. $5,000 Cap: Each of the Gas Rebate and the Grocery Rebate is only available to a $5,000 maximum net annual spend (“$5,000 Cap”). Once the $5,000 Cap has been reached for either Gas Purchases or Grocery Purchases, then any further Gas Purchases and Grocery Purchases made on the Account will earn Cash Back Dollars at the standard rebate of 0.5% that applies to all other Purchases on the Account as set out in your Cardholder Agreement (“Standard Rebate”). Applicability of Gas Rebate and Grocery Rebate: Each of the Gas Rebate and the Grocery Rebate is in place of, and not in addition to, the Standard Rebate. Merchant Category Codes: To earn the Gas Rebate and/or Grocery Rebate, the Gas Purchases and/or Grocery Purchases must be made at merchants classified through the Visa® network with a Merchant Category Code (“MCC”) that identifies them in the “gas” or “grocery” category. Some merchants may sell gas or gas station services or products, or groceries or grocery items, or have separate merchants located on their premises that also sell gas or gas station services or products, or groceries or grocery items, but may not be classified with a gas or grocery MCC and such Purchases will not earn the Gas Rebate or Grocery Rebate, as applicable. If you have questions about the MCC that applies to a Purchase, contact TD at 1-800-983-8472. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.
³ Earn 1% in Cash Back Dollars (“PAP Rebate”) on each $1.00 in payments made on a monthly or other regularly recurring basis for merchant bills, including insurance premiums, magazine/newspaper/online streaming subscriptions, membership fees and telecommunication fees, that are set up by the merchant with your consent to be automatically charged to your TD Cash Back Credit Card Account (“Account”) and that are classified through the Visa® network as “recurring payments” (“Pre-Authorized Payments”). You must confirm with your merchant if they can accept Pre-Authorized Payments. Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Pre-Authorized Payment. $5,000 Cap: The PAP Rebate is only available to a $5,000 maximum net annual spend (“$5,000 Cap”). Once the $5,000 Cap has been reached, then any further Pre-Authorized Payments made on the Account will only earn Cash Back Dollars at the standard rebate of 0.5% that applies to all other Purchases on the Account as set out your Cardholder Agreement (“Standard Rebate”). Applicability of PAP Rebate: The PAP Rebate is in place of, and not in addition to, the Standard Rebate. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.
⁴ Earn 0.5% in Cash Back Dollars (“Standard Rebate”) on each $1.00 for all other Purchases (“Other Purchases”) charged to your TD Cash Back Credit Card Account (“Account”). Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Purchase. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.
⁵ Account must be open and in good standing to earn and redeem Cash Back Dollars. Redemptions of Cash Back Dollars at any time on request must be for a minimum amount of $25. Where Cash Back Dollars are redeemed on an annual basis, the annual earnings period will start from when the Card is used to make Purchases until the Account’s January billing cycle of the following year, after which time the annual earnings period will continue each year from the Account’s January billing cycle to the January billing cycle of the following year. Cash Back Dollars will continue to accrue until redemption instructions are provided. There is no maximum annual amount of Cash Back Dollars that can be earned. For complete details on how to redeem Cash Back Dollars, please see the “TD Cash Back Program Terms and Conditions” section of the TD Cash Back Visa® Cardholder Agreement available at www.tdcanadatrust.com/products-services/banking/credit-cards/agreements.jsp
⁶ Underwritten by TD Home and Auto Insurance Company. To be eligible for this coverage, the item must be paid for in full using your TD Credit Card. Benefits, features and coverages are subject to conditions, limitations and exclusions that are fully described in the Certificate of Insurance included with your TD Credit Cardholder Agreement.

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