TD Rewards Visa ® Card

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
3 TD Rewards Points per $1 spent on travel via ExpediaForTD.com⁴

TD Rewards have a wide range of redemption possibilities, including cash back on a card statement, merchandise, and of course, travel. The Rewards Visa® card makes it easy to earn these Rewards when spending money on groceries and at restaurants, and particularly boosts rewards for booking travel through ExpediaForTD.com. With no annual fee or minimum income requirement, the card is basic and accessible, but accordingly lacks some of the benefits associated with other travel rewards cards, like emergency medical insurance.

Rewards Structure

The tri-tiered rewards structure featured on the TD Visa® card is generally favourable to the average consumer, but limiting in some ways. Cardholders who spend a lot on groceries, restaurants, fast food and recurring bill payments will earn 2 TD Rewards per $1 spent. This earning rate is only available up to a spending cap of $5,000 annually in each category (i.e. $5K in each of groceries, restaurants and recurring bills)—equal to 10,000 TD Rewards, or between a $40-$50 cash value per our Loyalty Program Bible. After spending $5,000 in a category the earn rate for that category is reduced to 1 Reward point per $1 until the end of the year. TD Rewards can be redeemed directly against the card balance, or used to purchase merchandise, travel, gift cards, and more, with each redemption path having a different cash value per point.

At the same time, all other purchases in any category earn TD Rewards at a rate of 1 per $1 spent, with no cap. Your TD Rewards Points will never expire as long as you are a cardholder and there is no maximum number of points that you can have at one time, so you can save up for a big vacation over time without worry.

Finally, the standout feature of the TD Rewards Visa® card is its 3 points per $1 earn rate when booking travel through ExpediaForTD.com. The site has an impressive selection of airlines and destinations, and the card’s high rewards rate on travel is much appreciated for those who are frequently in the air. Better yet, the accelerated 3 Rewards points per $1 is not limited by any maximum annual spending cap.

Feature Breakdown

  • 3 Rewards points per $1 on travel with ExpediaForTD.com⁴
  • 2 Rewards points per $1 on groceries², restaurants², fast food², and recurring bills³
  • 1 Rewards point per $1 on everything else⁵
  • $0 annual fee
  • Purchase protection and extended warranties⁶
  • Discount on Priority Pass membership (airport lounge access)
  • 10% discount on Avis and Budget car rentals in Canada and the US and 5% discounts overseas

Aside from earning many TD Rewards points for booking travel arrangements with the card on ExpediaForTD.com, cardholders can also use their Rewards points directly on the site. The variety of flights is expansive, and should suit the ambitions of your average globetrotter. It’s also nice to have extended manufacturer’s warranties on eligible items purchased with the card (up to an extra year), as well as 90 days of damage and theft coverage.

Drawbacks

The Rewards Visa® has a hidden weakness in how cardholders earn points from ExpediaForTD.com purchases. When they book directly on the website, the 3 Rewards points per $1 stands, but booking over the phone reduces the rate to 2 points per $1. Hidden in the fine print, it might be an unfortunate surprise for travellers who prefer booking over the phone instead of the internet.

The card is also missing some basic perks that would have been nice to have. Other no-fee Rewards cards in the same tier might include basic insurance benefits (i.e. medical), which this card does not offer beyond purchase protection and extended warranties on products charged to the card.

Who’s the Card For?

Canadians who already book through Expedia—one of the major online travel booking hubs—are obvious candidates for the TD Rewards Visa® card. The card’s nonexistent income requirement and zero annual fee make it an appropriate beginner’s rewards card, or a card for those who want to earn rewards without too many strings attached.

Legal Footnotes

² Earn 2 TD Rewards Points (“Grocery Rebate”) for every $1 in Purchases of groceries or grocery items (“Grocery Purchases”) charged to your TD Rewards Visa® Card Account (“Account”) and earn 2 TD Rewards Points (“Restaurant Rebate”) for every $1 in Purchases at restaurants including fast food restaurants (“Restaurant Purchases”) charged to your Account. Any returned items, refunds, rebates or other similar credits will reduce or cancel the TD Rewards Points earned on the original Grocery Purchase or Restaurant Purchase, as applicable. Fees, Cash Advances (including Balance Transfers, Cash-Like Transactions and TD Visa® Cheques), interest charges, optional service, refunds, rebates or other similar credits do not earn TD Rewards Points. $5,000 Cap: Each of the Grocery Rebate and the Restaurant 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 Grocery Purchases or Restaurant Purchases, then any further Grocery Purchases and Restaurant Purchases made on the Account will earn TD Rewards Points at the standard rebate rate of 1 TD Rewards Point that applies to all other Purchases on the Account as set out in your Cardholder Agreement (“Standard Rebate”). Applicability of Grocery Rebate and Restaurant Rebate: Each of the Grocery Rebate and the Restaurant Rebate is in place of, and not in addition to, the Standard Rebate. Merchant Category Codes: To earn the Grocery Rebate and/or the Restaurant Rebate, the Grocery Purchases and /or Restaurant Purchases must be made at merchants classified through the Visa®network with a Merchant Category Code (“MCC”) that identifies them in the “grocery”, “restaurant” or “fast food” category. Some merchants may (i) sell groceries or grocery items; (ii) provide restaurant service or sell fast food; or (iii) have separate merchants located on their premises that also sell groceries or grocery items, or provide restaurant service or sell fast food; but may not be classified with a grocery, restaurant or fast food MCC and such Purchases will not earn the Grocery Rebate or Restaurant 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 2 TD Rewards Points (“PAP Rebate”) on each $1 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 Rewards Visa® 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 TD Rewards Points earned on the original Pre-Authorized Payment. Fees, Cash Advances (including Balance Transfers, Cash-Like Transactions and TD Visa® Cheques), interest charges, optional service, refunds, rebates or other similar credits do not earn TD Rewards Points. $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 TD Rewards Points at the standard rebate rate of 1 TD Rewards Point that applies to all other Purchases on the Account as set out in 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 3 TD Rewards Points for every $1 in Purchases of travel made online through Expedia For TD (“Online Travel Purchases”) and charged to your TD Rewards Visa® Card Account (“Account”). Any returned items, refunds, rebates or other similar credits will reduce or cancel the TD Rewards Points earned on the original Online Travel Purchase. Fees, Cash Advances (including Balance Transfers, Cash-Like Transactions and TD Visa® Cheques), interest charges, optional service, refunds, rebates or other similar credits do not earn TD Rewards Points. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer. Earn 2 TD Rewards Points for every $1 in Purchases of travel made by phone through Expedia For TD (“Phone Travel Purchases”) and charged to your TD Rewards Visa® Card Account (“Account”). Any returned items, refunds, rebates or other similar credits will reduce or cancel the TD Rewards Points earned on the original Phone Travel Purchase. Fees, Cash Advances (including Balance Transfers, Cash-Like Transactions and TD Visa® Cheques), interest charges, optional service, refunds, rebates or other similar credits do not earn TD Rewards Points. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.

⁵ Earn 1 TD Rewards Point (“Standard Rebate”) on every $1 on all other Purchases (“Other Purchases”) charged to your TD Rewards Visa® Card Account (“Account”). Any returned items, refunds, rebates or other similar credits will reduce or cancel the TD Rewards Points earned on the original Purchase. Fees, Cash Advances (including Balance Transfers, Cash-Like Transactions and TD Visa® Cheques), interest charges, optional service, refunds, rebates or other similar credits do not earn TD Rewards Points. Other Conditions: Offer may be changed, withdrawn or extended at any time and cannot be combined with any other offer.

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.

Article comments