How you earn rewards
Each card earns rewards differently. Part of choosing your card is deciding what type of rewards you want to get. With TD Cash Back Visa Infinite Card, here’s how you earn rewards:
|All Other Spend||1%|
How much your rewards are worth
The dollar value of your rewards depends on the specific TD rewards program and what you choose to redeem your points for.
For TD Cash Back Visa Infinite Card in particular, if you spend $2,000.00 per month, here’s our estimated rewards earned depending on which reward you choose:
|Redemption method||Annual rewards|
|Apply to statement credit||$8.21|
Calculating your annual rewards
$24,000.00 annual spending x $1.85% return on spending = $444.00 annual rewards
$444.00 annual rewards – $139.00 annual fee = $$305.00 net annual rewards
Details and eligibility
|Do I qualify?|
|Estimated Credit Score||660 – 724|
|Extra Card Fee||$0|
|Extended Warranty||1 year|
|Purchase Protection||90 days|
|Emergency Medical Term||10 days|
|Emergency Medical over 65||4 days|
|Lost or Stolen Baggage||1000|
|Rental Car Theft & Damage||Yes|
|Mobile Phone Insurance||1000|
TD Cash Back Visa Infinite Card Review
The TD Cash Back Visa Infinite Card is a versatile credit card option for Canadians who value good earning potential and additional benefits. In this review, we will discuss the card’s earning potential, its four primary advantages, two significant drawbacks, and additional information to help you make the best choice for your financial needs.
With the TD Cash Back Visa Infinite Card, cardholders earn cash back on their everyday purchases, with varying reward rates depending on the category of spending. Cardholders enjoy a 3% cash back rate on eligible grocery, gas, and recurring bill payments. Additionally, they earn 1% cash back for all other purchases made with the card. This cash back accumulates automatically and can be redeemed at any time when a minimum of $25 has been accrued.
Benefit 1: Comprehensive Insurance Coverage
One major advantage of the TD Cash Back Visa Infinite Card is the comprehensive insurance coverage it offers, including travel medical, trip cancellation/trip interruption, and delayed/lost baggage insurance. This coverage gives cardholders peace of mind while traveling and can save them a significant amount in potential out-of-pocket costs.
Benefit 2: TD Auto Club Membership
The second major advantage of this card is the complimentary TD Auto Club Membership that provides cardholders with 24/7 roadside assistance. This can come in handy during unexpected car issues and keep travellers safe and protected on the road.
Benefit 3: Concierge Service
Cardholders also benefit from the TD Cash Back Visa Infinite Card’s concierge service, which offers assistance with travel bookings, restaurant recommendations, event ticket purchases, and essentially acts as a personal assistant to help with lifestyle and travel needs.
Benefit 4: Opt to Save with First Year Fee Rebate
The card’s fourth major advantage is the first-year annual fee rebate option for the primary cardholder and up to three authorized users. The annual fee is $120 for the primary cardholder, but you can opt in for a full rebate on the fee, enabling potential users to maximize the card’s benefits without an initial financial outlay.
Drawback 1: Earning Limitations
A significant drawback of the TD Cash Back Visa Infinite Card is the category limitations of the 3% cash back rate. Cardholders receive the highest cash back only on eligible grocery, gas, and recurring bill payments. All other purchases only yield a cash back rate of 1%, which could be limiting to those who don’t spend heavily in the higher earning categories.
Drawback 2: Annual Fee After the First Year
Another significant drawback is the annual fee that applies from the second year onwards. The $120 fee may deter some users who are not interested in paying an ongoing fee for their credit cards, especially if they’re unsure they will maximize the higher cash back rates on a consistent basis.
It’s important to note that the TD Cash Back Visa Infinite Card requires a personal income of at least $60,000 or a household income of $100,000 in order to qualify. This high-income requirement may limit some applicants from obtaining the card. Overall, the TD Cash Back Visa Infinite Card is an excellent choice for Canadians who prioritize cash back earnings and additional benefits, provided they can utilize the card’s earning potential to offset the annual fee after the first year.
- Rewarding cash back rates: 3% on groceries, gas, & recurring bill payments
- Unlimited 1% cash back: all other types of purchases
- No cap on cash back earnings: maximize rewards potential
- Valuable welcome offer: 6% cash back for first 3 months (max. $2,000 in purchases)
- Extensive perks: free Roadside Assistance & travel insurance coverage
- Visa Infinite benefits: premium concierge & luxury hotel privileges
- Purchase protection: added security & extended warranties
- Annual fee: $120, considerable for budget-conscious individuals
- Manual cash back redemption: active request necessary, not automatic
- Foreign fees: 2.5% charged on international currency transactions
- Optimized rewards: requires frequent spending in specific categories