Get a $1000 TD Gift Card to Spend
The TD Cash card, a Visa card, offers tiered rewards on dining and grocery spending, as well as a 0% APR introductory offer for both purchases and balance transfers. This introductory offer lasts six billing cycles for purchases and 15 billing cycles for balance transfers. It also comes with no annual fee and features a generous welcome bonus of $150 after you spend $500 within 90 days of account opening.
 |
| Get a $1000 TD Gift Card to Spend |
Pros Explained
Generous One-Time Bonus: You receive $150 cash back when you spend $500 within 90 days of opening your account. Receiving a 30% return on your spending for the bonus requirement is a fairly nice offer for a cash-back card with no annual fee.
There are other, similar offers: the Capital One Savor One card, for example, has the same spending requirement and is offering a $250 bonus.
But other cards require you to spend much more: the American Express Blue Cash Everyday card, for example, offers up to $250 back after you spend $1,000 in purchases during the first three months.
No Annual Fee: Cardholders don't have to worry about earning enough cash back rewards to offset an annual fee.
Balance Transfer Offer: This card comes with a balance transfer offer of 0% APR for 15 billing cycles. The TD Cash card does charge a balance transfer fee of $5 or 3%, whichever is greater. Before choosing this option, new cardholders should consider whether the interest savings offset the balance transfer fee.
Cons Explained
Minimum Amount Required for Cash Back Redemption: Before eligible to start redeeming, cardholders need to rack up enough points to get $25 (that’s 2,500 points). Other cards, like the Capital One Quicksilver, allow you to redeem for cash rewards, with no minimum requirement.
Limited Geographical Eligibility Footprint: The TD Cash credit card is not available on a national basis in the U.S. Applicants must meet residency requirements in the states where TD Bank is licensed to operate.
This Card is Best For
The TD Cash card is ideally suited for anyone who wants to earn cashback rewards with their spending with extra rewards for dining and grocery spending.
The TD Cash card is well suited as a secondary card for those who spend considerably on groceries that have a specific card for those purchases that have capped earnings.
For example, the Blue Cash Everyday card offers 3% cashback on groceries, but limits cardholders to $6,000 in purchases per year, after which the cashback rate drops to 1%. For those who reach this threshold,
the TD Cash card can provide a way to earn 2% on their supermarket trips, rather than dropping to 1%.
Additionally, the TD Cash card can work well for those who like to dine out, with a pleasant 3% back on restaurant expenditures.
For cardholders who want a solid bonus and consistent cashback without worrying about rotating categories, this card works as an acceptable option too.
TD Cash Credit Card Bonus
Cardholders receive 15,000 points when they spend at least $500 within 90 days of their account opening. These points can be redeemed for $150 cashback.
Rewards Earning Details
Even though TD lists its tiered earnings in terms of 3%, 2%, and 1% cashback on dining, grocery stores, and all other purchases, respectively, cardholders actually accumulate points, which are then redeemed for cashback.
So when a cardholder spends on dining, they receive three points for each eligible dollar spent.
Note that groceries purchased at superstores or warehouse clubs may not receive 2% cashback, instead only earning 1% cashback.
Rewards Redemption Details
Cardholders can redeem rewards by going to tdcardservices.com and logging in. Points are worth one cent apiece when redeemed for cash, gift cards, and travel through TD’s rewards portal.
Points used for other redemptions, such as for merchandise, might be worth less than one cent apiece.
When redeeming for cashback, the minimum threshold is $25. Other redemptions can be combined with charges to the card.
Cardholders wishing to redeem their points for an airline ticket would receive the value of their points and then pay the difference with a charge on the TD Cash card.
Transferring Points
There's no way to transfer points to partners. All travel redemption must be either booked through TD's rewards portal or applied afterward as a credit.
How to Maximize Your Rewards
Cardholders get the most from their rewards by using the card for dining- and food-related purchases, the categories which have the highest earning rates.
The best way to maximize the TD Cash card is to use it as a secondary card, in conjunction with another cashback card that offers earnings on categories that complement TD's.
Average Case
The average American household spent $3,526 on food away from home (eating out) in 2019. At the 3% rate, that would earn them $105.78 in cash back.
Spending on food at home (groceries) amounted to $4,643. At 2% cashback, that’s another $92.86, bringing the total cashback to $198.64 in one year. And that’s just counting dining and grocery categories.
Aspirational Case
Above-average spenders in the dining and grocery categories could actually benefit from combining the use of the TD Cash card with another credit card, like the American Express Blue Cash Everyday card.
A family that spends above the average each year—say, $8,000 on groceries each year on groceries and $4,000 on dining out—could use the TD Cash card in addition to another card, like the American Express Blue Cash Everyday card.
They’d receive 3% cashback on up to $6,000 in groceries with the Everyday card and then receive 2% cashback on the remainder of their grocery spending with the TD Cash card.
Because the Everyday card doesn't offer extra cashback on dining, using the TD card for those purchases would allow a cardholder to earn 3% cash back on dining out.
The total annual cashback for using the TD card in tandem with the Everyday card in this case would be $340. Including the extra 2% cash back for gas stations and department stores from the Everyday card would enhance this strategy.
TD Cash Credit Card's Outstanding Benefits
Immediate card replacement at a TD bank location
Standard Benefits
Visa Zero Liability
Digital wallet
Contactless payments
Cardholder Experience
Having branch locations can enhance overall satisfaction for consumers, and TD offers branch locations. According to J.D. Power’s 2020 U.S. Credit Card Satisfaction Study, TD Bank ranks fifth in customer satisfaction out of 11 regional bank issuers.
Customers who live near a TD branch can visit to access in-person services. For cardholders who like the idea of speaking with someone face-to-face, this can be a good choice. Additionally,
TD branches can immediately replace lost or stolen cards that the consumer can use right away, without waiting for a new card to arrive in the mail.
Cardholders can reach customer service 24/7 at 888-561-8861. There is also an FAQs page that can provide useful information about common issues.
Security Features
The TD Cash card comes with Visa's Zero Liability protection. This security feature keeps cardholders from being held responsible for unauthorized purchases when they properly report breaches.
Additionally, it's possible to do contactless payments with this card, as well as add the TD Cash card to a mobile wallet.
Our Verdict
Overall, the TD Cash credit card offers fairly mediocre rewards. While the cash bonus of $150 after spending $500 in 90 days is admittedly generous, its other features and perks are offered by other cards, often in more enhanced versions.
For example, the Capital One Savor One card offers 3% cash back on dining plus entertainment, while the TD Cash card only offers a higher cashback rate on dining.
With the American Express Blue Cash Everyday card, it’s possible to get 3% cash back on groceries at U.S. supermarkets up to $6,000 each year, plus 2% cashback at U.S gas stations and select U.S. department stores, making it a potentially better choice for regular spending. Like the TD card, neither of these options comes with an annual fee.
Even the 0% APR balance transfer offer isn't as bountiful as some other cards that extend offers to 18 months or beyond.
Being in effect for 15 months is pretty standard, but is often surpassed by certain issuers. The Citi Simplicity card offers 0% APR on balance transfers for 18 months for eligible transfers, for example.
Perhaps the main perk with the TD Cash card is the ability to walk into a TD Bank branch and speak with someone.
This is especially useful for customers who have lost a card or had it stolen. The immediate replacement is a bonus for those who don't want to wait to receive a new card.
In general, the TD Cash card is a solid enough choice for those whose spending is concentrated mainly on dining and groceries.
It also makes a great secondary card, rounding out a wallet, especially if a primary card has limits on cashback earnings.