TD Cash Back Visa Card review - MoneySense (2023)



By Kara Aaserud on October 27, 2020
Estimated Reading Time: 6 minutes

By Kara Aaserud on October 27, 2020
Estimated Reading Time: 6 minutes

A cash-back rewards program, fees, interest rates and even competitors. It's all here in our TD Cash Back Visa Card Review.


TD Cash Back Visa Card review - MoneySense (1)

Photo by Andrea Piacquadio from Pexels

There isn’t much that rings sweeter than cash in your pocket, which is precisely the allure of the cash back credit card. Canada’s Big Five banks (and many smaller ones too) offer a wide range of credit cards that allow you to accumulate cash rewards simply by using them. And to maximize those rewards, you’ll want to choose a card based on spending habits. If you’re new to the world of cash-back credit cards, TD’s Cash Back Visa Card is a simple and reliable introductory option with no annual fee, no minimum income requirement and a no-frills approach.



TD Cash Back Visa Card Review*

TD Cash Back Visa Card review - MoneySense (2)
Annual fee$0
Rewards1% cash back on grocery, gas and recurring bill payments; 0.5% cash back on all other purchases
Interest ratespurchases 19.99%, cash advances 22.99%, 22.99%
Income requirementNone specified
Best featuresNo annual fee; redeem your cash back any time; accessible entry-level card with no specific income requirements
Who it’s good forStudents and new credit card users; people who already have a TD bank account; those who want to earn basic rewards without annual fees

Get more details about the TD CashBack Visa*

6 Things to know about the TD Cash Back Visa Card

1. Earn cash back rewards

TD Cash Back Visa cardholders will earn 1% cash back on three bonus categories (grocery, gas and recurring bill payments) and 0.5% on everything else. There’s an imposed yearly spend cap of $5,000 within each bonus category. Once you hit the cap, your earn rate in that specific bonus category will drop from 1% to 0.5% for the rest of the year. This may or may not be a limitation for you, depending on how often you use your credit card. For instance, if you spend well over $450 per month on groceries, the spending caps will put a ceiling on your earning potential in that category. But the spending caps reset every year.

It’s worth noting that the TD Cash Back Visa Card doesn’t pretend to be anything other than an entry-level card. If it’s big dollar rewards you’re after, there are more lucrative options: The Tangerine Money Back Card, for example, offers up to 2% back in three spending categories and isn’t limited by an annual spend cap.

2. Flexible cash back redemptions

Most cash back cards have a specific time and date (e.g. once per year or month) to redeem your rewards. The big advantage of the TD Cash Back Visa card is that you can redeem right away, any time of the year, as long as the minimum redemption is $25. Keep your account open and make the minimum payments by your billing due date, and your cash rewards will never expire.

3. No annual fees or income requirements

Accessibility is another perk of the TD Cash Back Visa card. Since it requires no minimum income level, it’s a great option as a student credit card or anyone who’s a credit card beginner looking to establish their credit history. Like most entry-level cards, it’s free to carry and doesn’t charge annual fees.

(Video) MoneySense Canada's Best Travel & Cash-Back Credit Cards | Financial Author Ahmed Dawn

4. Get basic credit card perks

You can shop with confidence, thanks to the security and extended warranty protection. And you can save on car rentals, too. Card users save a minimum of 10% off the lowest available base rates in Canada and the U.S., and a minimum of 5% off the lowest available base rates internationally on qualifying rentals at Avis and Budget.

5. Interest rates

As long as you pay off your balance in full and on time, you won’t owe any interest. But if you carry a revolving balance, interest will kick in and you’ll owe interest at a rate of 19.99% annually (which is the standard among rewards credit cards). The TD Cash Back Visa card charges 22.99% on cash advances. Interest rates, fees and offers will differ for Quebec residents.



6. Big bank advantage

TD, or Toronto Dominion, was formed after the Bank of Toronto and The Dominion Bank merged in 1955, and has since become one of Canada’s big five banks. That means a card from here comes with the added security of knowing it’s from a trustworthy financial institution that will probably be around for a while. If you already have a chequing or savings account with TD, transferring funds between accounts will be a breeze.

Get more details about the TD CashBack Visa*

Are there any drawbacks to the TD Cash Back Visa?

Compared with its competitors, the TD Cash Back Visa offers few extras or incentives to use the card beyond its very basic functions. You can earn double the rewards or more with the other no-fee rewards credit cards below.

TD Cash Back Visa alternatives

Several other no-fee credit cards offer higher cash back rates on everyday purchases, as well as additional perks:

  • Tangerine Money Back Credit Card earns 2% with up to three bonus categories. There is no annual fee and there are also no caps on how much you can earn. However, it does require an annual income of at least $12,000.
  • BMO CashBack Mastercard: This no fee card earns up to 3% on groceries and an even more flexible cash back redemption system (you can access your cash back in increments of as little as $1). Like TD, there is no annual fee and you earn 1% on recurring bills and 0.5% on all other purchases. (Click here for the full review and an exclusive offer.)
  • The Rogers Platinum Mastercard earns 1% on all purchases with no earning limits or categories and 3% in cash-back rewards on purchases made in U.S. dollars. It also offers a welcome bonus of 10% in cash-back rewards when on purchases in the first three months of activating your card.

Bottom line

The benefit of the TD Cash Back Visa Card is its simplicity. It’s a solid option for credit card beginners or anyone who wants to build credit without too much concern about rewards. It’s also a good entry-level option for those who have already established other chequing and saving accounts with TD and also want a TD credit card to streamline their accounts with a single provider. If your goal is to collect more rewards more efficiently, skip this one and shop around for a card that offers better perks and accelerated rates.


  • TD CashBack Visa Infinite review
  • The best secured credit cards in Canada right now
  • How the TD Aeroplan credit card compares to others

What does the * mean?

If a link has an asterisk (*) at the end of it, that means it's an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It's important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy.


  1. This TD is terrible they are not answearing their phones when u call. You want to get a TD CARD ? GOOD LUCK IF U HAVE A PROBLEM.


  2. Hi I want to apply for TD Visa card.I am not going through.I want TD cash back card.thank you.


    1. We invite you to email your question to [emailprotected], where it will be considered for a future response by one of our expert columnists. For personal advice, we suggest consulting with your financial institution or a qualified advisor.


      (Video) MoneySense Published Canada's Best Credit Cards 2017 by Financial Author Ahmed Dawn

  3. I could provide my first hand experience with this credit card and any TD credit cards in general. Their credit card is great, if you use it only for normal, routine activity, such as for purchasing groceries, etc. However, if you ever want to use any TD credit cards for making online purchase or at other locations during travel, be careful. My credit card was blocked at least twice, due to travel away from my usual city. What is more appalling is their automatic voice recognition system. Apparently, the automatic voice recognition does not recognize my voice and therefore, any call to the credit card service will be denied as “insufficient information” to authenticate my identity. The only way to get around this is to physically travel back to a TD bank to unenroll myself from the system. I was stranded oversea and had no access to any financial resource, while TD credit card service only operates in the normal limited office hours, and they could not help me because of the ability to verify my identity due to my voice. They ask me to “go to the bank” and even after I managed to travel back and went to the bank, TD bank could not reactivate my card, due to the fact that their system needed a few business days to “unenroll” me from the voice activated system.

    Despite me presenting all my identities, including other TD debit card, driver license, passport, key in passcode, etc. etc., they could not reactivate my card. The case is pending between the TD credit card fraud protection, TD bank, and TD credit card services and non of the department could resolve this simple issue, since it is being referred to these various departments, and none seems to be able to help me.

    Keep in mind that they only operate under limited hours, so the case is in limbo. If you need a reliable credit card that works while purchasing stuffs online, traveling to a different place, and if you have any accent and perhaps your name is a bit difficult to pronounce and be recognized by their system, the TD online service would not be able to register your name and identify you, and you will never be able to reach their customer service. My advice is that please do not rely on this particular card when you need to go on to travel.


  4. I never recommend it? I have an active credit visa card for years ,never increased when I intrested to get it my credit limit was $1000 after 5 years using it for my daily purchases, stayed exciting as same limit i think one of the worst credit card I have seen in my life TD visa cash back card


  5. DO NOT get this card. If it is stolen and fraudulently used, you may find yourself out of luck. And getting through to anyone who can help is frustrating beyond description. Good luck finding any information regarding appeals process either. I had several credit and debit cards stolen from my vehicle last July. TD Bank debit card blocked attempted fraudulent use of that card and for two other credit cards (one USAA bank card and one Home Depot store card) I was reimbursed fraudulent charges. TD Bank Card services, however, is still trying to make me responsible for the fraudulent charges (totaling over $1100) despite me having provided them with police case number and other information related to the theft. They are basically accusing me of fraud by saying the card was in my possession when used.



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What credit score is needed for TD visa? ›

You need a credit score of at least 750 for most TD Bank credit cards. That means applicants for TD Bank credit cards need excellent credit to be approved.

Is it hard to get a TD cash credit card? ›

The easiest credit card to get from TD Bank is the TD Cash Secured Credit Card, which is available to applicants with bad credit. Depending on your credit score, you may be able to qualify for other TD Bank credit cards, too.

What is the minimum income for TD cash back visa? ›

Income requirements

A minimum annual income of $60,000 for an individual or $100,000 for a household is required to qualify for the TD Cash Back Visa Infinite.

What is the maximum limit for TD cash back visa? ›

Once the $5,000 Cap has been reached, then any further Pre-Authorized Payments made on the Account will only earn Cash Back Dollars at the standard rebate of 0.5% that applies to all other Purchases on the Account as set out your Cardholder Agreement ("Standard Rebate").

Is TD credit card instant approval? ›

Typically, an application will take 2 business days to process, plus an additional 7-10 business days to have the card directly mailed to your residence.

What is TD minimum credit limit? ›

TD Bank credit limits are $300 to $5,000, at a minimum, depending on the card. The TD Bank credit card with the highest starting credit limit is the TD First Class Credit Card, which is also rumored to offer limits as high as $18,000 to people with a lot of income.

Which bank credit card is hard to get? ›

Centurion® Card from American Express

Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

What is the easy line for TD credit card? ›

EasyWeb Messaging
EnglishIAC-866-222-3456-1 IAC- Country's International Access Code
FrenchIAC-866-233-2323-1 IAC- Country's International Access Code
Credit Cards (Collect Call)416-307-7722
EasyLine (Collect Call)416-983-5393

Can I get 5000 cash from my credit card? ›

Your credit card cash advance limit will typically be lower than your credit limit, with a typical limit falling between 20% to 50% of your total spending limit. For example, if you have a $5,000 credit limit on your card, your cash advance limit will likely be less than $2,500.

Is TD cash back visa card a credit card? ›

With a TD Cash Back Credit Card, you earn Cash Back Dollars on all your purchases. You can redeem these Cash Back Dollars against your account balance or however you want and any time you want (minimum $25). Your Cash Back Dollars never expire as long as your account is open and in good standing.

What does cash back visa mean? ›

Cashback credit cards offer you the chance to earn cash from the money you spend, by paying you back a percentage of what you spend or giving you reward points. They only make sense if you pay off the balance in full each month and never go over your limit. Otherwise, the interest you pay will outweigh the rewards.

How much money do you need to open a bank account at TD? ›

What you pay
Monthly Maintenance Fee$15
ChecksDiscount on first order of select styles
Online StatementsFree
Paper Statements$1 monthly fee
Minimum Opening Deposit$0
6 more rows

Should I have 3 credit cards? ›

It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.

Can I use my TD cash back credit card in USA? ›

Your TD Access Card is accepted in the U.S. and in 200 countries worldwide where Visa is accepted1.

Is there an annual fee for TD cash back Visa Infinite card? ›

The TD Cash Back Visa Infinite* Card comes with an annual fee of $139, although with the current welcome promotion the first year's annual fee is rebated for the primary and additional cardholders. Must apply online by September 5, 2023.

Which card is easiest to get approved for? ›

  • OpenSky® Plus Secured Visa® Credit Card. Our pick for: No credit check and no bank account required. ...
  • Chime Credit Builder Visa® Credit Card. ...
  • Petal® 2 "Cash Back, No Fees" Visa® Credit Card. ...
  • Mission Lane Visa® Credit Card. ...
  • Self Visa® Secured Card. ...
  • Grow Credit Mastercard.
May 31, 2023

Is TD Bank hard to get approved for? ›

TD Bank credit card approval odds are best for people with a good or excellent credit score of 700+, an annual income of $50,000+, and relatively little debt. Applicants will also need to be 18+ years old with a U.S. mailing address and an SSN to get a TD Bank credit card.

Which credit card is easy to get approved? ›

Summary: WalletHub's Picks for Easy Credit Cards
Credit CardBest ForEditor's Rating
Fingerhut Credit AccountOnline Shopping4.7/5
Capital One SavorOne Student Cash Rewards Credit CardStudents4.7/5
Credit One Bank® NASCAR® Credit CardUnsecured3/5
Capital One Platinum Credit CardNo Credit5/5
4 more rows
May 31, 2023

What does $6000 minimum credit limit mean? ›

Minimum credit limit is the minimum amount that the bank can approve you for, depending on some factors (e.g. credit score, ability to pay, etc.). It isn't the required amount of debt needed. Hope this has helped!

What is a respectable credit limit? ›

A good credit limit is above $30,000, as that is the average credit card limit, according to Experian. To get a credit limit this high, you typically need an excellent credit score, a high income and little to no existing debt.

Is 25k a good credit limit? ›

Yes, a $25,000 credit limit is good, as it is above the national average. The average credit card limit overall is around $13,000, and people who have higher limits than that typically have good to excellent credit, a high income and little to no existing debt.

What's the lowest credit score to get a credit card? ›

There is no minimum credit score needed for a credit card. Even borrowers with poor credit (a score of 300) or no credit card at all can qualify for some credit cards. However, options for bad-credit borrowers are limited and usually come with a high annual percentage rate (APR) and fees.

Which credit card is not accepted the most? ›

Most Widely Accepted in the U.S.: Visa and Mastercard are both accepted at almost 11 million U.S. merchant locations. Least Widely Accepted Internationally: American Express (160+ countries and territories); Discover (200+). Least Widely Accepted in the U.S.: American Express and Discover (10.6 million locations).

What is the rarest credit card in the world? ›

The rarest credit card in the world is likely the Centurion® Card from American Express, also known as the “Black Card.” This card is available by invitation only, and you will reportedly need to spend at least $250,000 per year on other Amex credit cards and have an income of $1 million+ to get it.

What does $5000 minimum credit line mean? ›

A credit card limit is the total amount of money you can charge to a credit card. If your credit card has a limit of $5,000, for example, it means you can carry a balance of up to $5,000 on your credit card.

How often does TD increase credit limit? ›

TD Bank will automatically increase your credit limit no more than once every six to 12 months. If you'd rather not wait around for an automatic credit limit increase, TD Bank also offers the option to request an increase yourself. You can do this every as often as you want.

Why won't TD increase my credit limit? ›

Keep your account open/active for at least six months: TD Bank and most other providers require you to have your account for six months before they'll consider a credit limit increase request. Some providers may increase your credit limit automatically after six months based on your credit history.

What is 30 of a $1,000 credit limit? ›

In a real-life budget, the 30% rule works like this: If you have a card with a $1,000 credit limit, it's best not to have more than a $300 balance at any time. One way to keep the balance below this threshold is to make smaller payments throughout the month.

Is $1,000 on a credit card bad? ›

A $1,000 credit limit is good if you have fair to good credit, as it is well above the lowest limits on the market but still far below the highest. The average credit card limit overall is around $13,000. You typically need good or excellent credit, a high income and little to no existing debt to get a limit that high.

How much should I spend on my credit card if my limit is 5000? ›

If you have a $5,000 credit limit and spend $1,000 on your credit card each month, that's a utilization rate of 20%. Experts generally recommend keeping your utilization rate under 30%, ideally closer to 10% if you can.

How do I pay my TD cash back visa? ›

How to pay down a credit card balance using TD points or Cash Back Dollars on the TD app
  1. Go to My TD Rewards.
  2. Go to the Pay with Rewards page.
  3. Enter payment details.
  4. Review and confirm.

What is the difference between Visa card and cash card? ›

Cash cards and debit cards at a glance

In short, a cash card can only be used to make cash withdrawals from your account at an ATM. In contrast, a debit card, also known as a bank card, is a payment card that can be used to withdraw cash at an ATM or when you need to pay directly for items in-store or online.

How do I cancel my TD cash back visa card? ›

To cancel a TD Bank credit card, call customer service at 1 (888) 561-8861 and ask a customer service rep to cancel your card account. Cardholders can also cancel an account in person at a TD Bank branch, or by mail.

What are the disadvantages of cash back credit cards? ›

There are a few drawbacks to a cash-back rewards card, including a higher-than-usual APR, having to wait to access your cash-back funds, and a cap on how much you can earn each year. Also, when it comes to travel rewards such as airline miles, sometimes the miles are worth more than the cash.

Are cashback cards worth it? ›

Cash back rewards cards are worth it because they can help you save money as long as you pay off your balance each month. It is also worth noting that the best cash back credit cards with the highest rewards rates and signup bonuses sometimes have annual fees.

Is cash back free money? ›

No, cash back is not free money. You need to make a purchase with your card to earn cash back. Cash-back rates typically range from 1% to 5%, so you will still be paying for the majority of your purchase out of pocket.

How to get $300 from TD Bank? ›

TD Simple Savings
  1. Open a TD Beyond Checking account.
  2. Make $2,500 in qualifying direct deposits within 60 days of opening account.
  3. Earn $300. Bonus will be paid on or before 180 days after account opening.

How to avoid TD monthly fee? ›

No monthly fee if you maintain $4000 or more in your account at the end of each day of the month. Access to your money at any ATM in Canada with no TD ATM fee. Keep track of your money online or on mobile by using EasyWeb, TD app or the TD MySpend app.

What bank owns TD Bank? ›

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America.

Should I leave a small balance on my credit card? ›

The key is to keep your balance at or below 30 percent of your credit limit to help improve and maintain a good credit score, which means having no balance at all is even more helpful. Always try to pay off your credit card in full when possible.

Does cancelling a card hurt credit? ›

Credit experts advise against closing credit cards, even when you're not using them, for good reason. “Canceling a credit card has the potential to reduce your score, not increase it,” says Beverly Harzog, credit card expert and consumer finance analyst for U.S. News & World Report.

Is 20 credit cards too many? ›

There's no such thing as a bad number of credit cards to have, but having more cards than you can successfully manage may do more harm than good. On the positive side, having different cards can prevent you from overspending on a single card—and help you save money, earn rewards, and lower your credit utilization.

What are the benefits of TD cash back Visa? ›

With the TD Cash Back Visa Card, earn 1% in cash back dollars on eligible gas purchases and grocery purchases. Set up regularly recurring bill payments on your accounts, such as phone bills, and earn 1% in cash back dollars. Plus, you earn 0.5% in cash back dollars on every other purchase made with your card.

How does TD cash back credit card work? ›

Earn 0.5% in Cash Back Dollars ("Standard Rebate") on each $1.00 for all other Purchases ("Other Purchases") charged to your TD Cash Back Credit Card Account ("Account"). Any returned items, refunds, rebates or other similar credits will reduce or cancel the Cash Back Dollars earned on the original Purchase.

What is the minimum income for TD cash back Visa Infinite? ›

Income requirements

A minimum annual income of $60,000 for an individual or $100,000 for a household is required to qualify for the TD Cash Back Visa Infinite.

Is TD Visa Infinite card worth it? ›

Is the TD Aeroplan Visa Infinite Card worth it? It could be — but it all comes down to your spending habits. If one Aeroplan point has an average value of 1.69 cents, you'd need to earn 8,225 Aeroplan points to recoup the card's annual fee of $139.

How much can you tap on TD cash back visa? ›

A single purchase transaction using your TD Credit Card cannot exceed $250*. Some merchants may have set a lower tap limit (often $100). In the cases where your purchase is above $250 or above the merchant's tap limit, you will be asked to insert your card and enter your PIN in order to authorize the purchase.

What is the credit limit on visa infinite? ›

What is the credit limit on Visa Infinite? There is no set credit limit on Visa Infinite credit cards. Card issuers assign credit limits to cardholders based on their creditworthiness and other factors.

Why did I get declined for a TD credit card? ›

A credit card may decline for many reasons, such as: You have reached your credit limit. There are pending transactions that have lowered your available credit but have not been applied to the card balance. Payment has not yet been posted to the balance.

Which credit does TD use? ›

TD Canada Trust uses Equifax when pulling your credit report.

Does TD have Transunion credit score? ›

How TD clients can get their free credit score. TD Bank doesn't offer you a free credit score. On their website, they explain how you can access and view your credit history. They have the contact information for the main credit bureaus in Canada, Equifax and Transunion.

Which bank is the hardest to get into? ›

Goldman Sachs is generally regarded as the leading investment bank in most business areas, and is the toughest Bulge Bracket investment bank to break into.

How to get 900 credit score? ›

Tips to Perfect Your Credit Score
  1. Pay your credit card bills often. ...
  2. Keep a solid payment history. ...
  3. Consider your credit mix. ...
  4. Increase your credit limit. ...
  5. Don't close old accounts. ...
  6. Regularly monitor your credit report. ...
  7. Only apply for credit when you really need it.

Does TD Bank do a soft credit check? ›

TD Bank only uses a soft pull of your credit, which does not affect your score, to pre-qualify potential borrowers, and your odds of approval are very high if you get pre-qualified.

How bad is getting rejected for a credit card? ›

Does Getting Denied for a Credit Card Hurt Your Credit Score? By itself, a denied credit card application won't have any impact on your credit scores. However, every time you apply for any type of new credit, it results in a hard inquiry on your credit report.

Does it hurt your credit score if you get denied? ›

Being denied for a credit card doesn't hurt your credit score. But the hard inquiry from submitting an application can cause your score to decrease. Submitting a credit card application and receiving notice that you're denied is a disappointment, especially if your credit score drops after applying.

Why is every credit card denying me? ›

Your credit card application may have been denied because you have bad credit. Unpaid collections, recent delinquencies, and high credit card balances are all things that need to be fixed before you can be approved for a credit card (or a decent one at least).

What is a perfect credit score? ›

A perfect credit score of 850 is hard to get, but an excellent credit score is more achievable. If you want to get the best credit cards, mortgages and competitive loan rates — which can save you money over time — excellent credit can help you qualify. "Excellent" is the highest tier of credit scores you can have.

How much can you borrow with a 700 credit score? ›

The average credit limit for those with a 700 credit score is right around $4,500. However, if you were to pull out a 700 credit score personal loan, you should be able to access more money than you would with just a credit card.

What is a good credit score? ›

Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good; and 800 and up are considered excellent.

What is the lowest TransUnion credit score? ›

The score you see provided by TransUnion is based on the VantageScore® 3.0 model. FICO and VantageScore credit scores range from 300 – 850.

Which credit score is better FICO or TransUnion? ›

In short, FICO is more transparent than the three credit bureaus and, most times, the least costly for all parties involved. However, reports from the three credit bureaus are vital to monitor your progress on your journey to that ideal credit score so that you can get the best loan rates and credit cards.

What is a 700 credit score TransUnion? ›

A very poor credit score is in the range of 300 – 600, with 601 – 660 considered to be poor. A score of 661 – 720 is fair. And an excellent score is in the range of 781 – 850.


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Phone: +99513241752844

Job: Design Supervisor

Hobby: Digital arts, Lacemaking, Air sports, Running, Scouting, Shooting, Puzzles

Introduction: My name is Delena Feil, I am a clean, splendid, calm, fancy, jolly, bright, faithful person who loves writing and wants to share my knowledge and understanding with you.