What TD Bank credit cards offer and who they suit
Toronto Dominion Bank issues cards across three main reward categories: cash back, travel points, and no-annual-fee options. The cards differ in annual cost, earning rates, and what you can redeem for. TD's rewards program, called TD Rewards, lets you earn points on purchases and redeem them for cash back, travel bookings, or merchandise — though the redemption value varies by card and category.
TD cards are issued in both Canadian and US dollar versions. If you spend regularly in the US or travel there, a US dollar card avoids currency conversion fees on those purchases. Most TD cards come with purchase protection, extended warranty coverage, and travel insurance, though the breadth of coverage depends on the card tier.
TD does not offer premium metal cards or ultra-high annual fees. Their highest-tier card, the TD Infinite Card, costs $120 per year. This positions TD as a middle-market issuer — more benefits than no-fee cards, but less elaborate than American Express Platinum or Chase Sapphire Reserve equivalents.
Key Takeaways
- TD's cash back cards earn between 1% and 3% depending on the card and category, with the TD Cash Back Infinite Card offering 3% on groceries and gas.
- Travel cards in the TD lineup earn points redeemable for flights and hotels, but the point value depends on how you book — redeeming through TD's travel portal typically yields better value than transferring points.
- Annual fees range from $0 to $120, and higher-fee cards include travel insurance, purchase protection, and concierge services that lower-tier cards do not.
- TD Rewards points do not transfer to airline or hotel loyalty programs, so you are limited to redemption through TD's own portal or as cash back.
- US dollar versions of TD cards avoid currency conversion fees on American purchases, making them useful for cross-border spenders or frequent US travelers.
Cash back cards: earning rates and annual fees
TD's cash back lineup includes the TD Cash Back Card (no annual fee), the TD Cash Back Infinite Card ($120 per year), and the TD Cash Back Visa Infinite Card ($120 per year). The no-fee version earns 1% cash back on all purchases. The Infinite versions earn 3% on groceries and gas, 2% on transit and recurring bills, and 1% on everything else.
The difference between the two Infinite cards is minimal — both cost $120 and offer the same earning rates. The Visa Infinite version includes slightly broader travel insurance and roadside information, but the earning structure is identical. For most people, the choice between them comes down to whether you already have a relationship with TD Bank or prefer Visa over Mastercard.
Cash back posts as a statement credit and can be redeemed in any amount with no minimum. Unlike points-based cards, there is no redemption penalty — 1% earned equals 1% back in value. This makes cash back cards straightforward for people who want predictable returns without tracking point values or redemption rates.
Travel cards: points earning and redemption value
TD's travel-focused cards are the TD Rewards Visa Infinite Card ($120 per year) and the TD Aeroplan Card ($120 per year). The Rewards Visa earns points on all purchases and lets you redeem for flights, hotels, car rentals, and cash back through TD's travel portal. The Aeroplan Card earns Aeroplan points directly, which you can use for flights on Aeroplan's partner airlines or transfer to hotel and car rental partners.
The TD Rewards Visa Infinite typically offers better redemption value if you book through TD's travel portal rather than transferring points elsewhere. A point redeemed for a flight through the portal is often worth more than the same point transferred to an airline program. However, if you have loyalty to a specific airline or hotel chain, the Aeroplan Card may suit you better because points go directly into that program.
Both cards include trip cancellation insurance, baggage delay coverage, and emergency medical coverage while traveling. The Aeroplan Card also includes Aeroplan elite status benefits, which can waive baggage fees and provide lounge access depending on your tier. These insurance and status benefits justify the $120 annual fee for frequent travelers.
No-annual-fee cards and when to choose them
TD offers two no-fee cards: the TD Cash Back Card and the TD Rewards Card. The Cash Back Card earns 1% on all purchases. The Rewards Card earns points at a lower rate (typically 1 point per $2 spent, or 0.5%) but lets you redeem for the same travel and merchandise options as the paid travel cards.
The no-fee Rewards Card makes sense if you spend under $3,000 per year on the card. Below that threshold, the points you earn are unlikely to offset the $120 annual fee of a paid card. Above $3,000, you typically come out ahead with a paid card — either the cash back Infinite (if you want simplicity) or the travel Rewards Visa (if you value travel redemptions).
No-fee cards include basic purchase protection and extended warranty coverage, but not travel insurance. If you travel internationally more than once per year, a paid card's travel insurance alone may be worth the annual fee, since a single emergency medical claim abroad can cost thousands.
Comparing TD cards to other issuers
TD's cash back rates (3% on groceries and gas) are competitive with Rogers Mastercard and Tangerine, though Tangerine lets you choose your own bonus categories. TD's travel cards earn at a similar rate to RBC Rewards cards but offer less flexibility — RBC points can transfer to airline partners, while TD points cannot.
American Express cards in Canada often offer higher earning rates on specific categories (4% or 5% on dining or travel) but come with higher annual fees ($150 to $500). If you spend heavily in one category, an Amex card may yield more value. If you want a straightforward card with moderate fees and broad earning, TD's Infinite cards are simpler.
Scotiabank's Scene card and BMO's Rewards cards occupy similar middle ground. The choice between them often comes down to which bank you already use, since existing customers may get fee waivers or bonus points. If you have no existing relationship, TD's cards are neither cheaper nor more generous than the alternatives — they are a reasonable choice, not a standout one.
How TD Rewards points work and what they are worth
TD Rewards points are earned on most purchases (the rate varies by card) and held in a single account across all your TD cards. Points do not expire as long as your account remains open and active. You can redeem them for cash back, travel bookings, merchandise, or donations to charity.
The redemption value of a point depends on how you use it. Redeemed as cash back, a point is typically worth 1 cent. Redeemed for travel through TD's portal, a point may be worth 1.5 to 2 cents depending on the flight or hotel. Redeemed for merchandise, a point is usually worth less than 1 cent. This means your best return comes from either cash back or travel bookings, not merchandise.
TD does not allow points to transfer to airline or hotel loyalty programs. This limits your flexibility compared to cards that feed into programs like Aeroplan, Air Miles, or hotel chains. If you want to accumulate points toward a specific airline status or hotel elite tier, a TD card is not the right choice.
Annual fees, insurance, and cardholder benefits
TD's annual fees range from $0 to $120. The $120 cards (Infinite versions) include travel insurance covering trip cancellation, baggage delay, emergency medical, and emergency dental. They also include purchase protection (covering theft or damage to items within 90 days of purchase) and extended warranty coverage that doubles the manufacturer's warranty up to one year.
The no-fee cards include purchase protection and extended warranty but not travel insurance. If you travel internationally once per year or more, the travel insurance on a paid card can be worth the fee — a single emergency room visit abroad can exceed $10,000, and travel insurance covers that cost.
All TD cards include fraud protection and zero liability for unauthorized charges. The Infinite cards also include concierge services (for restaurant reservations, event tickets, and travel planning) and roadside information. These perks are useful if you travel frequently or value having a service line for bookings, but they do not justify the fee for occasional users.
Frequently Asked Questions
Can I earn TD Rewards points on bill payments and transfers?
Points are earned on most purchases, but not on balance transfers, cash advances, or bill payments made through the card. Recurring bills paid with the card (like utilities or subscriptions) do earn points at the card's standard rate. Check the specific card's terms for a full list of excluded transactions.
What happens to my points if I close my TD credit card?
Points remain in your TD Rewards account as long as you hold at least one active TD credit card. If you close all your TD cards, you have a grace period (usually 90 days) to redeem your points before the account closes. After that, unspent points are forfeited.
Do TD credit cards offer introductory rates or sign-up bonuses?
TD occasionally offers welcome bonuses (such as bonus points in the first few months), but these are not permanent features — they vary by card and change throughout the year. Check TD's website or contact their customer service to see what current offers are available for the card you are considering.
Can I use my TD card outside Canada?
Yes, TD cards work internationally and are accepted wherever Visa or Mastercard is accepted. US dollar versions of TD cards avoid currency conversion fees on US purchases. For other currencies, a standard conversion fee (typically 2.5% to 3%) applies. Travel insurance on paid cards covers emergency medical and trip-related claims abroad.
How do I compare the cash back card to the rewards card if both have no annual fee?
The no-fee Cash Back Card earns 1% cash back on all purchases, which is simpler and more predictable. The no-fee Rewards Card earns points at 0.5% (1 point per $2), which is lower but can be redeemed for travel at higher value. Choose cash back if you want straightforward returns; choose rewards if you travel and want to redeem for flights or hotels.