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Find the Best TD Credit Cards in Canada in 2019

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Last updated on August 30, 2019 Views: 547 Comments: 9

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Toronto-Dominion Bank (TD) is one of Canada’s Big Five national banks, with branches across the country and a wide range of financial products including credit cards. It’s worth noting that TD credit cards are all Visas, which are accepted by far more vendors than, say, American Express. Although Amex cards tend to offer more lucrative rewards, TD cardholders might prefer the reassurance of knowing that their card will be accepted virtually anywhere.

Some TD cards offer the perk of generating TD rewards, worth between $0.0025-$0.005 each, depending on how cardholders opt to redeem them. Cardholders get the best overall value out of their TD points by redeeming them for travel through Expedia, but TD also allows them to be redeemed for a range of merchandise, a statement credit, or to pay off tuition or a student loan.

Other TD credit cards offer lucrative cashback rates, travel benefits, and/or low-interest rates.

Best TD Visa Aeroplan Card

TD Aeroplan Infinite VisaTD® Aeroplan® Visa Infinite

Eligibility Criteria:
– Credit score required: good_excellent
– Min personal income required: $60000
– Annual fees: $120 

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

TD Bank has partnered with Air Canada to buy the Aeroplan program, which benefits its travelling cardholders immensely and reflects well in its Aeroplan® Visa Infinite and Aeroplan® Visa Infinite Privilege* cards. The former card has a $120 annual fee rebated in the first year and generates 1.5 Aeroplan miles per dollar spent on their grocery, gas, drugstore, and aircanada.com purchases. They’ll also earn 1 mile per $1 everywhere else, plus a generous introductory bonus of 40000 miles – 15,000 Miles after a first purchase 2X Aeroplan Miles on eligible Purchases in the first three months up to a total of 20,000 Miles and another 5,000 Aeroplan Miles when you add an authorized user before December 1, 2019.

These benefits alone make it one of the best travel cards around, but it wouldn’t be an Aeroplan card without Air Canada-specific benefits like free checked bags, priority check-in and boarding, and one free yearly visit to the Maple Leaf Lounge. Comprehensive insurance coverage, including travel medical and trip cancellation/ interruption, gives the card further added value.

Cardholders or households earning at least $200,000 are eligible for the TD® Aeroplan® Visa Infinite Privilege card from TD. The travel benefits offered by the Visa Infinite card are amplified for the Privilege, with greater insurance coverage, a bigger introductory bonus at up to 60000 miles (25,000 after the first purchase and additional conditions apply), three more annual VIP lounge passes, and a higher base earning rate for Aeroplan Miles (1.25 versus 1 Mile per $1 on all purchases). The perks don’t end there, but eligible cardholders must be prepared to pay an annual fee of $399 for this premium value.

Click here to apply for the TD® Aeroplan® Visa Infinite

Best TD Visa Cashback Cards

TD Cash Back Visa InfiniteTD Cash Back Visa Infinite*

Eligibility Criteria:
– Credit score required: Good – Excellent
– Min personal income required: $60,000
– Annual fees: $120  

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

If you want your TD credit card to earn cash back for you at a sky-high rate, the TD Cash Back Visa Infinite* is your best choice. You’ll get a regular cashback rate of 3% on all recurring bill payments and eligible gas and grocery transactions, and 1% on all other qualifying transactions.

The TD Cash Back Visa Infinite* is an even better cash back credit card option because of its lucrative introductory promotion. New cardholders will enjoy a boosted earn rate of 10% cash back on purchases they make in the first 3 months after opening the account. This promotion is restricted up to a maximum spend of $2,000, which means you could earn back up to $200. Promotion expires December 1, 2019

No matter when you become a TD Cash Back Visa Infinite* cardholder, you’ll always get access to free roadside assistance, through membership in the Deluxe TD Auto Club, and travel perks that include travel medical insurance, auto rental loss or collision coverage, and baggage insurance.

Click here to apply for the TD Cash Back Visa Infinite* card


TD Cash Back VisaTD Cash Back Visa* Card

Eligibility Criteria:
– Credit score required: fair_good
– Min personal income required: N/A
– Annual fees: $0

You can earn 1% on all eligible grocery and gas purchases, as well as on recurring bill payments with the TD Cash Back Visa*. There’s a cap of $5,000 on each category—once cardholders spend more than that in a calendar year, they’ll earn the lower rate of 0.5% cash back. All other purchases made with this card earn 0.5% cash back.

Cash Back Dollars can be used to pay down the card balance—they’re not redeemable against merchandise or as cash. Cash back won’t expire as long as an account is active.

Because there’s no annual fee and no fee on additional cards, all of cash back is essentially free. Other card perks include 5%-10% off car rentals through Avis and Budget, and extended warranty and purchase protection. The TD Cash Back Visa* also comes with contactless payments, zero fraud liability, and instant fraud alerts.

Click here to apply for the TD Cash Back Visa* card

Best TD Visa Travel Cards

TD Rewards VisaTD Rewards Visa*

Eligibility Criteria:
– Credit score required: good_excellent
– Min personal income required: N/A
– Annual fees: $0

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

The TD Rewards Visa* is a no-fee travel credit card that’s easy to qualify for. There’s no minimum income requirement and no annual fee.

Cardholders earn 2 TD Rewards points for every $1 spent on restaurant bills, fast food orders, groceries, and regularly recurring bill payments; 3 points for every $1 spent on travel through ExpediaForTD.com; and 1 TD point for every $1 spent on all other purchases. There’s an annual cap on the accelerated earn rate for restaurants, fast food, and bill payment purchases—once cardholders exceed $5,000 in one of those categories they’ll earn just 1 point per $1 spent until the next annual cycle begins.

To top this generous rewards structure, new cardholders can earn up to 10000 points if applying by December 1, 2019.  2x TD Rewards points are earned on all Purchases in the first three months up to a total of 10,000.

Other travel-related perks for TD Rewards Visa* members include a Priority Pass membership discount, which lowers the cost of entry to 850 VIP lounges around the world, and a 5%-10% discount on Budget and Avis car rental worldwide. Extended warranty and purchase protection, zero liability for fraud, instant fraud alerts, and contactless payments are all part of the package too.

Click here to apply for the TD Rewards Visa* card

Best TD Visa Low-Interest Card

TD Emerald Flex Rate VisaTD Emerald Flex Rate Visa

Eligibility Criteria:
– Credit score required: 
– Min personal income required: N/A
– Annual fees: $25

The Emerald Flex Rate Visa doesn’t come with cash back or TD points, but it does have a solid low annual fee and an advantageous interest rate. Cardholders get a flexible interest rate which varies according to Canada’s Prime rate and the cardholder’s credit score and financial situation. The card’s interest rate is assigned as Prime + a range of between 4.50% to 12.75%—with the lower interest rates assigned to those applicants with high credit scores and higher rates to those with low scores. With Prime currently at 3.95% (as of October 25, 2018), rates will range from 7.95% to 16.2%—all of which are well below the average credit card interest rates of 20.00%.

The Emerald Flex Rate Visa has standard credit card features including contactless payments, fraud alerts, zero liability along with extended warranties and purchase protection. Although there’s no free travel insurance, cardholders can opt to buy travel medical, trip cancellation, and trip interruption insurance at good rates.

The card costs just $25 per year for its low flexible rate and other peripheral perks. Additional cards are free of charge. Given that there’s no minimum income requirement, it’s worthwhile for the average consumer to apply for the card.

Click here to apply for the TD Emerald Flex Rate Visa

 

Article comments

9 comments
Michael says:

Hi I would to apply for a securety credit card

The GreedyRates Team says:

Hey Michael!

We take your comment to mean that you’re interested in applying for a secured credit card, which means all you need to do is click on one of the links provided on our site, fill out the application, and then wait until it arrives in your mailbox! We’re highly impressed with the Refresh Financial and Home Trust Secured cards, both of which are Visas and offer a way to easily gain access to credit by making a secure cash deposit. The minimum deposit for the Refresh card is just $200, while the Home Trust card’s minimum security deposit is $500.

Keep in mind that you can deposit up to $10,000 on either of these cards to get a matching credit limit, and if your credit score is good then the issuer may offer a better ratio of cash deposited to credit (put down $75, get a limit of $300 for example). Also remember that you can get this security deposit back at any time, if you cancel the card when the balance is paid in full. By using it frequently and responsibly, your secured card will also help you raise you credit score over time! Let us know if you have any other questions.

GreedyRates

Steve says:

Hi There, I do not see any comparisons on the TD First Class Travel VISA Card. Where do they rank in the kick back list?

The GreedyRates Team says:

Hey Steve,

Thanks for the great comment. Unfortunately, there isn’t room for every TD card on the list of ‘Best TD Cards in Canada’ because we only want to cover the cream of the crop! That said, just because the TD First Class Travel Visa card isn’t on this list doesn’t mean it isn’t worthwhile. The card ranks well among those that offer a high rate of rewards on all purchases, with 3 TD points for every $1 spent, and then 9 TD points when you book travel on ExpediaForTD.com. It also has a higher annual income requirement of $60,000 individually or $100,000 household. One of the primary reasons that we didn’t name this card as the number one best TD travel card is that the rewards model it uses is specific to Expedia, so it’s not broadly applicable to the greater body of potential cardholders.

We’d suggest a more flexible alternative: the BMO Rewards World Elite card. Its points can be spent on a wider array of rewards and they accrue for all travel-related purchases at the same rate of 3 per $1 spent. Without being pigeonholed into Expedia, which has inconsistent reviews, the card also benefits from a slightly higher per-point reward value in terms of dollars. Just check out Loyalty Program Bible to confirm. It has a similar insurance suite and slightly higher annual fee, so take that into consideration as well. Thanks again for the comment and good luck in your search!

GreedyRates

Ashley says:

Hello, if I’m considering either the BMO World Elite VIsa and the TD Aeroplan Visa Infinite, which would you recommend? I couldn’t find a breakdown of the point redemption value of an Aeroplan point to use it as a comparison. I’d like a card with trip cancellation insurance. Thanks in advance for your help!

The GreedyRates Team says:

Hi Ashley!

Happy to help—we should remind you that the World Elite card is a Mastercard and not a Visa however. Regardless, if you’re on the fence between the BMO World Elite and the TD Aeroplan Visa Infinite, then one of your most crucial resources is our own Loyalty Program Bible. Here you can figure out exactly how much value each type of reward point is and therefore how much you can really earn with the most popular cards. For example, Aeroplan points are worth $0.014 on average, so if you earn 1 per $1 then your return is around 1.40%. The TD Visa would therefore have an earnings rate of 2.10% on groceries, gas, and drugstore purchases, because you collect 1.5 points per $1 spent. It also means the 15,000-point bonus is worth $210. Keep in mind that the value of your points varies slightly depending on what you redeem them for.

BMO Rewards are worth $0.007 each, so when you collect 3 per $1 spent on travel, dining, and entertainment with the BMO World Elite card, you’re actually earning 2.10%. Two points per $1 spent elsewhere is 1.40%, so essentially the earnings rates between these two cards are identical. BMO’s 35,000-point ($245) bonus is more generous however, and it also comes with a first-year annual fee waiver. Your final decision will depend on the weight you assign each card’s other perks, as well as the different purchase categories between their accelerated rates. Do you spend more on gas and groceries (TD) than you do on travel or dining out (BMO)?

In our opinion, the TD Visa’s main advantage is its more applicable accelerated earning rate, at 2.10% on gas and groceries (1.5 points per $1). Despite that BMO’s higher rate is on travel and dining, which are less common expenses, it also comes with a bigger bonus, four annual VIP airport lounge passes, and double the emergency medical coverage. To make your decision, look at your monthly expenses and your travel habits, and let us know where you end up.

GreedyRates

John says:

TD Visa Infinante Visa still better than most other credit cards out there as long as you travel at least once per year, Air miles is a joke.

George Vilven says:

Can’t seem to find the TD First Class Travel Visa Infinite Card … Is there a promotion on now?
And maybe on the horizon … the TD Aeroplan Infinity visa card??

The GreedyRates Team says:

Hey George,

We appreciate that you’re hungry for some of TD’s well-known promotions, but unfortunately there’s nothing new in the pipeline. TD still offers their new First Class Travel Visa Infinite cardholders up to 50,000 points for making an initial purchase and meeting a low 90-day spending milestone of $1,000. Be aware that you’ll have to sign up with TD and get approved before December 3rd, according to their website. We’re unaware of any special promotion for the TD Aeroplan Visa Infinite card other than the standard 15,000 miles for new cardholders. Best of luck with your decision!

GreedyRates