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Quick overview
Quick overview of the TD Rewards Visa* credit 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 card for?
Who is the TD Rewards Visa* Card for?
Pros and cons
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
Welcome bonus
TD® Rewards Visa credit card welcome bonus
New cardholders can earn a value of $50† in TD Rewards Points† to use on eligible Amazon.ca purchases plus no annual fee. Conditions Apply. The account must be approved by June 3, 2024.
How to earn points
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:
- Earn 4 points per $1 spent when booking travel through Expedia for TD†
- 3 points per $1 spent on restaurants and grocery stores (including online groceries)
- 2 points per $1 spent on regularly recurring bill payments set up on the card, and
- 1 point per $1 spent 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 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
How to redeem points
Per ourLoyalty Program BibleTD 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
Key Benefits of the TD Rewards Card
While the selling point of this card may be that it has no 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 41 spent on regularly recurring bills set up with the card account, and 1 point on all other eligible purchases.
But the rewards aren't limited to everyday purchases. You can earn a hugely impressive 4 points per $1 spent when booking travel through Expedia® For TD. For a credit card with no annual fee, 4X points is an exceptional offer, made even better thanks to the versatility of the Expedia site. From flights to hotels to full-board cruises and vacation packages, Expedia covers it all, meaning there's likely never a travel booking scenario when you can't enjoy maximum rewards.
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.
Insurance coverage
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: 90 days of protection for eligible product purchases using the TD Rewards Visa credit card.
- Extended warranty: Doubles eligible warranties for up to one additional year on eligible purchases made with your TD 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
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
Rates and fees
Interest rates
Interest rates for theTD Rewards Visa* Card are fairly standard, with a19.99%regular purchase APR;22.99%balance transfer APR; anda22.99%cash advance APR.
Fees
- Annual fee:$0for 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
- Balance transfer/cheque fee:3% of the amount of each balance transfer or TDVisaCheque
How it compares
How does the TD Rewards Visa* compare?
Before applying for theTD 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:
| Category | TD Rewards Visa* Card | MBNA Rewards Platinum Plus® Mastercard® |
|---|---|---|
| Annual fee | $0 | $0 |
| Recommended credit | Good–Excellent | Fair–Good |
| Welcome offer | 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 June 3, 2024. | Up to 10,000 MBNA Rewards points†† + 4 points†† per $1 spent on groceries, restaurants, digital media, household utilities, and membership |
| Regular earn rates | Earn 4 TD Rewards Points for every $1 you spend when you book travel through Expedia® For TD†, 3 TD Rewards Points for every $1 you spend on Groceries and Restaurants†, 2 TD Rewards Points for every $1 you spend on regularly recurring bill payments set up on your Account, and 1 TD Rewards Point for every $1 you spend on other Purchases made using your Card†. | 2 points‡ per $1 spent on groceries, restaurants, digital media, memberships, and household utilities; 1 point‡ per $1 spent on everything else |
| Sample point values | $0.005 per point redeemed on ExpediaForTD.com; $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 |
TheMBNA Rewards Platinum Plus® Mastercard®*is consistently ranked as one of Canada’sbest credit cards with no annual fee, and competes pound for pound with Canada’sbest 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 fromRewards 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.
Is it worth it?
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
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, but your credit score should be in the good to excellent range.
FAQs
Frequently asked questions about the TD Rewards Visa*
What credit bureau does TD Bank use?
+TD Bank uses both Experian and TransUnion when checking an applicant's credit report.
Does TD Bank offer instant approval?
+Yes. TD does provide instant approvals for online applications in many instances.
Does the TD Rewards Visa credit card offer travel insurance?
+No. The card does not offer any travel insurance at the moment. The TD First Class Travel Visa Infinite Card does provide this benefit, however.
†Terms and conditions apply.
‡, ††, ✪, ***, Terms and Conditions apply
MBNA Rewards Platinum Plus® Mastercard® offer is not available for residents of Quebec. For residents of Quebec, please clickhere.
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.
Cory Santos is a finance writer, editor and credit card expert with over seven years of experience in personal finance. Formerly an Ontario resident, Cory currently calls sunny South Florida home, helping snowbirds find their ideal credit cards and financial products. 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, AOL, MSN, Medium and more. When he isn't scouring for the latest credit card deals and offers, Cory can be found working on his various historical research projects, jogging, or hanging out with his cats, Bentley and Cougar.
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