TD Rewards Visa* Card Review

Annual Fee
Purchase APR
Cash Advance Interest Rate
Recommended Credit Score
740 850 670 739 580 669 0 579
Earn a $50 value in TD Rewards Points to use at with Shop with Points. Plus, get a 9.99% promotional interest rate on purchases for the first 6 months with no annual fee. Conditions Apply. Must apply by October 29, 2022.

This offer is not available for residents of Quebec. For Quebec residents, please click here.

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 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.

Pros and Cons of the TD Rewards Visa* Card


  • Wide range of point redemption paths/options, including travel,, online retailers, merchandise, gift cards, card statement credits, etc.
  • Good rate of return on spending and redeeming via the travel platform
  • Decent value for those that have a high volume of recurring bills


  • Point redemption values are moderate to poor
  • Low spending limits for earning extra points on groceries and restaurants
  • High credit score requirement

Limited Time Offer

New cardholders who apply by October 29, 2022 can get a 9.99% promotional interest rate on purchases for the first 6 months, which is significantly lower than the card’s regular purchase interest rate, with no annual fee. Plus, earn 15,152 TD Rewards Points (a value of $50 on with Shop with Points) by keeping your Account open, active and in good standing for the first 90 days.

How to Earn Points

The TD Rewards Visa* Card’s three-tier rewards structure is generally favourable to the average consumer, but limiting in some ways. Its standout feature is an earn rate of 3 points per $1 spent on, for which there is no maximum annual spending cap or maximum amount of points that can be earned. Grocery, restaurant, and recurring bill payments earn 2 points per $1 spent, but this rate is only applicable up to a $5,000 annual spending cap for groceries and restaurants and another $5K annual cap on recurring bills. After passing those spending limits the earn rate for groceries, restaurants, and recurring bills is reduced to 1 point per $1 until the end of the year, the same rate for all other eligible card purchases outside those three categories and

Expedia fans take note: The card has something of a hidden weakness in its earn rate for purchases. Travel booked directly on earns 3 Rewards points per $1, but booking the same travel itinerary you see on over the phone reduces the rate to 2 points per $1. 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 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 ($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
  •’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.

Rates and Fees

Interest Rates

Aside from the promotional 9.99% interest rate on purchases in the first 6 months, interest rates for the TD Rewards Visa* Card are fairly standard, with a 19.99% regular purchase APR (after the promotional rate expires); 22.99% balance transfer APR; and a 22.99% cash advance APR.


  • Annual fee: $0 for both primary and additional cardholders
  • Cash advance fee: 1% of the amount of the transaction (minimum fee of $3.50 up to a maximum fee of $10.00) (in Canada) or $5.00 (outside Canada), plus $3.00 at a PLUS* network ATM. (Fee does not apply to a Balance Transfer or TD Visa Cheque)
  • Foreign transaction fee: 2.5%
  • Dishonoured payment fee: $48
  • Over credit limit fee: $29
  • Promotional balance transfer / cheque fee: 3% of the amount of each balance transfer or TD Visa Cheque

Who Is Eligible for the Card?

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, but your credit score should be in the good to excellent range.

How to Get the TD Rewards Visa* Card

You can apply for the TD Rewards Visa* Card online via this link. You’ll need to provide basic personal information like your name, address, occupation, income, etc.

How Does It 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:

 TD Rewards Visa* CardMBNA Rewards Platinum Plus® Mastercard®RBC Rewards+ Visa
Annual Fee$0$0$0
Recommended Credit ScoreGood–ExcellentFair–GoodGood
Welcome OfferEarn a $50 value in TD Rewards Points to use at with Shop with Points. Plus, get a 9.99% promotional interest rate on purchases for the first 6 months with no annual fee. Conditions Apply. Must apply by October 29, 2022. Up to 10,000 MBNA Rewards points + 4 points per $1 spent on groceries, restaurants, digital media, household utilities, and memberships (conditions apply)None
Regular Earn Rates3 points per $1 on travel with; 2 points per $1 on groceries, restaurants, and recurring bills; 1 point per $1 on everything else2 points per $1 spent on groceries, restaurants, digital media, memberships, and household utilities; 1 point per $1 spent on everything else1 point per $1 spent on gas, grocery and drug store purchases; 1 point per $2 spent on all other purchases
Sample Point Values$0.005 per point redeemed on; $0.0025–$0.005 per point when redeemed for statement credit$0.01 per point redeemed via MBNA's Travel Portal; approx. $0.01 per point for gift cards; $0.005 per point for statement credit$0.01 per point for travel and approx. $0.01 per point for gift cards; approx. $0.006 per point for statement credit

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 Fair–Good credit score from Rewards Platinum Plus® Mastercard® applicants whereas TD recommends a Good–Excellent score from those applying for the TD Rewards Visa* Card, which seems a bit excessive for an entry level credit card.

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 “MBNA Rewards Platinum Plus® Mastercard®” link above

*This offer is not available for residents of Quebec. For residents of Quebec, please click here.

The RBC Rewards+ Visa has a small advantage over the other two cards in terms of its point redemption values, but trails behind in its welcome offer and regular earn rates. That said, it might be particularly appealing to those that regularly fill up their gas tank at Petro-Canada, where cardholders will save 3¢/L and earn 20% extra Petro-Points and RBC points.

Our Verdict

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.

Terms and conditions apply.

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