TD Cash Credit Card Review 2024

• Introduction
• Quick Facts
• What Is the TD Cash Credit Card Best For?
• TD Cash Credit Card Rewards
• Introductory Rates
• Other TD Cash Credit Card Benefits
• Fine Print
• How the TD Cash Credit Card Stacks Up
• Is the TD Cash Credit Card for You?
• Methodology

Once upon a time, the TD Cash Credit Card offered its best rewards for groceries and dining out. Its current incarnation is much more flexible, allowing you to designate one spending category to earn 3% cash back on dining – including takeout and delivery, 2% cash back at grocery stores initially, then every quarter choose from select spend categories for the 3% and 2% rates and 1% cash back on other purchases.

When you first open the TD Cash Credit Card, it defaults to 3% back on dining and 2% at grocery stores—perhaps a nod to its meal-oriented origins. However, every quarter, you’ll have the opportunity to adjust your 3% and 2% rewards categories between dining, entertainment, gas, groceries and travel. There’s no cap on your cash-back earning potential, and the TD Cash Credit Card has no annual fee.

Those flexible rewards are appetizing, but avid warehouse shoppers beware: Purchases at superstores and warehouse clubs only earn 1% cash back, no matter which bonus categories you’ve chosen.

• No annual fee
• Earn 3% cash back on dining – including takeout and delivery, 2% cash back at grocery stores initially, then every quarter choose from select spend categories for the 3% and 2% rates and 1% cash back on other purchases
• Introductory APR offer on balance transfers
• Welcome bonus: $200 cash back after spending $500 within 90 days after account opening
• Foreign transaction fee: 3% of each transaction in U.S. dollars

This card is best as an everyday spending card for those willing to put a bit of effort into picking their top earning categories. Plus, with its introductory balance transfer APR, it’s ideal if you need to switch cards for a period of time to pay off a balance and still want to earn rewards. Since it’s a cash-back card, earning rewards can help you pay down a balance as you continue to use the card. Note that we never recommend you carry a balance on a credit card.

Earning Rewards

The TD Cash Credit Card earns rewards at the following rates: 3% cash back on dining – including takeout and delivery, 2% cash back at grocery stores initially, then every quarter choose from select spend categories for the 3% and 2% rates and 1% cash back on other purchases.

The card also comes with a welcome bonus of $200 cash back after spending $500 within 90 days after account opening.

Redeeming Rewards

You can redeem your rewards once you have accumulated at least 2,500 points. Your cash can be redeemed as either a statement credit toward your balance or a deposit to an eligible bank in the U.S. Each point is worth 1 cent when redeemed this way.

Other redemption options include gift cards, merchandise and travel. Gift cards and travel redemptions are also worth a penny per point, but merchandise redemption values will vary and may be worth more or less than 1 cent per point.

Rewards Potential

Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually, and we base spending on that number. We also estimate that a household like this has $39,337 in annual expenses that might be reasonably charged to a credit card.

TD Cash Credit Card Rewards Potential

Category	Earning Rate	Estimated Annual Spend	Estimated Annual Earnings
Travel	3%	$8,573	25,719
Groceries	2%	$7,243	14,486
All other purchases	1%	$23,521	23,521
			Total: 63,726 points

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Actual rewards earned will depend on how much you use your credit card and which bonus rewards categories you choose each quarter. But if your spending matched that of our example household, this card would earn a total of 63,726 points or $637.26 in cash back per year, in addition to the first-year welcome bonus.

The TD Cash Credit Card comes with a 0% introductory APR on balance transfers for the first 15 billing cycles after account opening, then a 20.24%, 25.24% or 30.24% variable APR applies for purchases and balance transfers. Balance transfer fee of either $5 or 3% of transfer whichever amount is greater applies.

If you apply and are approved, you will receive either a Visa Platinum card if your approved account credit limit is less than $5,000 or a Visa Signature card if your approved account credit limit is $5,000 or greater.

Visa Platinum benefits include:

• Roadside dispatch. Access to a pay-per-use service when there’s a problem with your vehicle.
• Emergency card replacement. Get a replacement card sent right away if your card is lost or stolen.
• Cellphone protection. Protection against damage or theft when you pay your phone bill with your card.

Visa Signature benefits include:

• Purchase protection. If you bought an item with your card and it gets stolen or damaged due to fire, vandalism, water, or certain covered weather conditions, you’ll receive coverage for repair or compensation for the value of the article up to 90 days after the purchase date.
• Extended warranty. Get up to an additional year of coverage past the manufacturer’s factory warranty for items that have a manufacturer warranty of up to three years in length.
• Cellphone protection. Protection against damage or theft when you pay your phone bill with your card.
• Lost luggage reimbursement. Pay for a common carrier ticket with your TD Visa Card and get reimbursed up to $3,000 for lost checked or carry-on luggage.
• Visa Signature concierge. 24/7 access to a concierge service to assist with travel planning, entertainment and more.
• Visa Signature luxury hotel benefits. Get special guest status at properties worldwide.
• Travel and emergency assistance. Access to a 24/7 call center that can direct you to local resources when you’re away from home.

Interest Rates

• Regular APR: 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness.
• Purchase intro APR: N/A
• Balance transfer intro APR: 0% introductory APR on balance transfers for the first 15 billing cycles after account opening

Fees

• Annual fee: $0
• Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater
• Foreign purchase transaction fee: 3% of each transaction in U.S. dollars

TD Cash Credit Card vs. Bank of America® Customized Cash Rewards credit card

Like the TD Cash Credit Card, the Bank of America® Customized Cash Rewards credit card has no annual fee and allows you to designate a top rewards-earning category that matches your spending habits. This customization is only allowed for the single, 3% cash back category, for which you can choose between gas and EV charging stations, online shopping (including cable, internet, phone plans, and streaming), dining, travel, drug stores, pharmacies and home improvement and furnishing stores. Your other cash-back rewards are fixed at 2% back for groceries and warehouse stores and 1% on everything else.

The Bank of America® Customized Cash Rewards credit card allows you to change your 3% awards category selection every month instead of every quarter. However, the Bank of America card limits your combined 3% and 2% earnings to the first $2,500 in combined purchases each quarter. After that, you earn a flat 1% back in those categories.

Two other perks worth noting are a 25% to 75% cash-back boost for members of Bank of America’s Preferred Rewards program (eligibility is determined by the average daily balance in your designated banking and investing accounts) and a generous 0% introductory APR for 15 billing cycles for purchases and balance transfers, 19.24% - 29.24% variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer during this period, then 4%.

TD Cash Credit Card vs. Citi Double Cash® Card

If you like the idea of earning cash back on your spending but think that different rewards rates are a headache, consider a card that can earn the same elevated rate on all of your spending, like the Citi Double Cash® Card. The card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. It carries no annual fee, and rewards can be redeemed as a check, statement credit, direct deposit into a qualifying bank account, gift cards, travel and more.

TD Cash Credit Card vs. Chase Freedom Flex℠

If you’re looking to amp up your earnings across a wide swath of expenses, consider a card like the Chase Freedom Flex℠. The Freedom Flex has no annual fee yet comes with a pumped-up earnings structure that covers a variety of expenses, including 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Depending on your spending patterns, this may work out to be more rewarding for you.

The TD Cash Credit Card is a rare choose-your-bonus-category card that doesn’t have a rewards cap. However, if you don’t mind sacrificing a little flexibility, there are other rewards cards that offer more bonus categories or offer higher top-earning rates. Run the numbers for your spending and evaluate that against the bonus categories of these cards to determine which will give you the best return.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.

Read more: How Forbes Advisor rates credit cards