TD Cash Back Visa Infinite Card review

How the TD Cash Back Visa Infinite earns

The TD Cash Back Visa Infinite Card pays 3% in five categories: groceries, gas and EV charging, public transit, recurring bill payments, and streaming, digital gaming and media. All other purchases earn 1%. Those five categories cover a large share of a typical household budget, so a lot of everyday spending earns the top rate.

Here’s an example. A household spending $700 a month on groceries, $250 on gas, $100 on transit, $200 on recurring bills, $40 on streaming and $800 on everything else would earn $38.70 at 3% and $8 at 1%. That’s $46.70 a month, or $560.40 a year, which leaves $421.40 after the $139 annual fee.

The welcome offer

The current offer has two parts. It pays 10% cash back on the first $3,500 of bonus-eligible purchases within three months, up to $350, and rebates the $139 first-year fee when you make your first purchase within three months. Together, those make up the $489 headline figure.

Reaching the full $350 means spending about $1,167 a month for three months. The example household above spends $2,090 a month, so it would get there in under two months.

Roadside assistance and other perks

The standout perk is a free Deluxe TD Auto Club membership, which provides 24/7 roadside assistance. For drivers who would otherwise pay for a separate roadside plan, that’s a meaningful part of the card’s value.

As a Visa Infinite card, it includes Visa Infinite Concierge, the Luxury Hotel Collection and the Dining Series. You also get a minimum 10% off Avis and Budget car rentals in Canada and the US. Cash Back Dollars never expire, and you can redeem them toward your balance at any time.

Fees, interest and the fine print

The annual fee is $139, or about $11.58 a month. It’s rebated in the first year with the current offer, and rebated every year if you have a TD All-Inclusive Banking Plan, so those customers don’t pay the card’s annual fee.

Purchases in a foreign currency carry a 2.5% foreign transaction fee, so $1,000 spent abroad adds about $25. Purchases are charged 21.99% interest and cash advances 22.99%. Paying your statement in full by the due date avoids purchase interest.

Insurance coverage

The insurance package covers the basics for travel and everyday purchases. Travel medical coverage is short, at 10 days for cardholders under 65, so longer trips need separate coverage. Read the certificate for full terms.

• Travel emergency medical (up to $2 million, 10 days for those under 65)
• Delayed and lost baggage (up to $1,000 per person)
• Auto rental collision and loss damage
• Purchase security and extended warranty
• Mobile device insurance
• Emergency travel assistance services

Who it suits, and who should look elsewhere

The TD Cash Back Visa Infinite suits households with steady spending on groceries, gas, transit and bills, especially drivers who would use roadside assistance. TD customers with an All-Inclusive Banking Plan get the most value, since the card’s annual fee is rebated for them every year.

It’s a weaker fit if you travel for longer than 10 days and want travel medical coverage included, or if you spend heavily in foreign currencies.

How it compares

The Scotia Momentum Visa Infinite + Card costs $120 a year and pays 4% on groceries and recurring bills, up to a combined $25,000 a year, with 2% on gas, transit, rideshare and food delivery. It earns more on groceries and bills, while TD’s card pays more on gas and includes roadside assistance.

If you’d rather pay no fee and don’t have a TD banking plan, the TD Cash Back Visa Card has no annual fee and earns 1% on groceries. You give up the 3% categories in exchange for paying nothing to hold the card.

Before you apply

The recommended credit score is 720 or higher, and TD makes the final decision based on your full credit profile. Confirm the current welcome offer, fee rebate conditions and insurance terms on the TD website before you apply.