TD Rewards Visa Card review

How the TD Rewards Visa earns points

Travel booked through Expedia For TD earns 4 TD Rewards points per dollar. Groceries, dining and public transit earn 3 points, recurring bills and streaming, digital gaming and media earn 2 points, and everything else earns 1 point.

As an example, $600 a month on groceries, $200 on dining and $100 on transit earns 2,700 points a month. Add $250 in recurring bills and $30 on streaming at 2 points, which earns 560, and $400 of other spending at 1 point. That’s 3,660 points a month, or 43,920 points a year.

Booking a $1,500 trip through Expedia For TD would add another 6,000 points, so routing travel through TD’s portal is the quickest way to grow your balance.

The welcome offer

New cardholders can earn up to 15,152 TD Rewards points by spending $500 within 90 days of opening the account. That’s a low bar: about $167 a month over three months, which many households cover with groceries alone.

In the example budget above, 15,152 points is roughly four months of regular earning, delivered for spending you’d likely do anyway.

Redeeming TD Rewards points

TD Rewards points can be redeemed for travel with no blackouts, seat restrictions or point expiry, or used at Amazon.ca through Shop with Points. Redemption values differ: points generally go further when you book travel through Expedia For TD than when you shop at Amazon.ca. Before redeeming, compare how many points the same trip or purchase needs through each option.

Linking the card to Starbucks earns 50% more points on Starbucks purchases, and additional cardholders are free, so a household can pool its spending on one account.

Fees, interest and the fine print

There’s no annual fee, so every point earned is a net gain, and the card can stay in your wallet as a grocery and dining card even if you carry another card for travel. Foreign currency purchases carry a 2.5% fee, about $25 per $1,000 spent. Purchases are charged 21.99% interest and cash advances 22.99%. Paying your full balance each month avoids purchase interest.

Insurance coverage

The TD Rewards Visa includes mobile device insurance alongside purchase coverage, but no travel insurance. Check the certificate for limits and exclusions.

• Mobile device insurance
• Purchase security and extended warranty protection

Who it suits, and who should look elsewhere

The TD Rewards Visa suits people who want a no-fee points card for groceries, dining and commuting, and who will redeem through Expedia For TD to get the most from their points. Commuters get particular value, since public transit earns the same 3x as groceries and dining.

If you’d rather not think about redemption options, a simple cash back card may suit you better. Frequent travellers will also want a card with travel insurance and, ideally, no foreign transaction fee.

How it compares

The TD Platinum Travel Visa Card costs $89 a year, earns up to 6x on Expedia For TD bookings and offers up to 50,000 TD Rewards points. If you book a lot of travel through Expedia For TD, the higher rate may be worth the fee.

If you’d rather have cash than points, the TD Cash Back Visa Card has no annual fee and earns up to 1% on groceries. It’s simpler, with no points to manage or redemption choices to weigh.

Before you apply

The recommended credit score is 660 or higher, and TD makes the final decision based on your full credit profile. Confirm the current earn rates and welcome offer on TD’s website before you apply.