Dollarwise

TD Cash Back Visa Infinite Card Review

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Visa > TD







Advertising disclosure









{{card.name}} Review







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★★★★★











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Pros











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Cons











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Editorial Note: DollarWise may earn a commission on sales made from partner links on this page.





Performance test results





At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.





You can see our full testing methodology here to learn why we're the most trusted source for credit card reviews.





The {{card.name}} has earned a {{ranking}} DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).









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Rewards











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Perks











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Interest rates













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Insurance











{{factor_score_acceptance}}

















Acceptance











{{factor_score_approval}}

















Approval











The highest scoring categories for the {{card.name}} are {{score_1}} and {{score_2}}.





These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.





This weighting allows us to judge cards on their merits and the customers they are designed for.





For the {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.





Rewards





With the {{card.name}}, here's the rates at which you earn rewards for different spending categories per dollar you spend:





Bills{{reward_bills}}
Pharmacy{{reward_drug}}
Gas{{reward_gas}}
Groceries{{reward_grocery}}
Restaurants{{reward_restaurant}}
Specific Stores{{reward_store}}
Travel{{reward_travel}}
All Other Spend{{reward_other}}




Calculating your annual rewards





We estimate that spending {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} in rewards over the year.





Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.





We found that you'd earn this per category:





Bills{{bills_dollarrewards}}
Pharmacy{{drug_dollarrewards}}
Gas{{gas_dollarrewards}}
Groceries{{grocery_dollarrewards}}
Restaurants{{restaurant_dollarrewards}}
Specific Stores{{store_dollarrewards}}
Travel{{travel_dollarrewards}}
All Other Spend{{other_dollarrewards}}




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Our study investigating the value found that each dollar spent on the {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.





This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.





The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} in rewards value.





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We can compare this card to other options by looking at the earn rate by category.





This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.





For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.





In this example, that's a 10% earn rate on gas.





SpendThis CardAverage
Bills{{bills_earnrate}}{{averages.mean_bills_earnrate}}
Pharmacy{{drug_earnrate}}{{averages.mean_drug_earnrate}}
Gas{{gas_earnrate}}{{averages.mean_gas_earnrate}}
Groceries{{grocery_earnrate}}{{averages.mean_grocery_earnrate}}
Restaurant{{restaurant_earnrate}}{{averages.mean_restaurant_earnrate}}
Store{{store_earnrate}}{{averages.mean_store_earnrate}}
Travel{{travel_earnrate}}{{averages.mean_travel_earnrate}}
Other{{other_earnrate}}{{averages.mean_other_earnrate}}
Above, we've calculated the earn rate for the {{card.name}} for every spend category and compared it to the average for all Canadian credit cards.




Redemption methodAnnual rewards
Transfer to partner airlines{{transfer_airlines}}
Fixed points travel{{fixed_points_travel}}
Transfer to partner hotels{{transfer_hotel}}
Redeem for travel{{redeem_travel}}
Apply to statement credit{{statement_credit}}
Ticketmaster{{ticketmaster}}
Charity{{charity}}
Gift cards{{gift_cards}}
Amazon.ca{{amazon}}
Merchandise{{merchandise}}
Make investments{{investments}}
Enjoy experiences{{experiences}}
Car rentals{{car_rental}}
Vacations{{vacation}}
Attractions{{attractions}}
Cash rewards{{cash_rewards}}
Grocery rewards{{grocery_rewards}}
Restaurant rewards{{restaurant_rewards}}
Movie rewards{{movie_rewards}}
Apple / BestBuy{{apple_bestbuy}}
Flight rewards{{flight_rewards}}
Airlines Rewards (Charts){{airlines_rewards_chart}}
CIBC financial products{{cibc_financial_products}}
Air travel - redemptions (scheduled){{air_travel_redemptions_schedule}}
RBC travel{{rbc_travel}}
Transfer to WestJet{{transfer_westjet}}
Transfer to Hudson Bay{{transfer_bay}}
RBC financial products{{rbc_financial_products_rewards}}
Air Canada gift cards{{aircanada_gift_card}}
Air Canada vactions{{air_canada_vacations}}
Electronics gift cards{{electronics_gift_cards}}
Cash - World Elite{{cash_worldelite}}
Cash - Platinum Plus{{cash_platinumplus}}
Banking plans{{banking_plans}}
Desjardins financial products{{desjardins_financial_products}}
Expedia travel{{expedia_td}}
Educational rewards{{education_rewards}}
HSBC financial products{{hsbc_financial_products}}
Walmart{{walmart_rewards}}
Triangle (Canadian Tire){{triangle_rewards}}
Meridian travel{{meridian_travel}}
Direct deposit{{direct_deposit_rewards}}
Costco gift cards{{costco_gift_cards}}
Wireless Rogers rewards{{wireless_rogers_rewards}}
1 Rogers rewards{{1_roger_rewards}}
Other Rogers rewards{{other_roger_rewards}}
Other 1 Rogers rewards{{other_1_roger_rewards}}




For an annual spend of {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.





That's equivalent to a {{total_earn_rate}} return on spending.





The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.





This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.





In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.





Fees





The {{card.name}} has a {{card.annualFee}} annual fee.





The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} of cards based on the cost of the annual fee.





Perks





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We manually review the perks of each credit card to determine how they compare to other cards.





The {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.





The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.





Interest Rates





Purchase{{purchase_interest_rate}}%
Cash Advance{{cash_advance_interest_rate}}%
Balance Transfer{{balance_transfer_interest_rate}}%




The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.





For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.





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Testing the {{card.name}} with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.





Insurance coverage





InsuranceThis CardAverage
Extended Warranty{{warranty}}{{averages.median_warranty}}
Purchase Protection{{purchase_protection}}{{averages.median_purchase_protection}}
Travel Accident{{travel_accident}}{{averages.median_travel_accident}}
Emergency Medical Term{{emergency_medical_term}}{{averages.median_emergency_medical_term}}
Emergency Medical over 65{{emergency_medical_65}}{{averages.median_emergency_medical_65}}
Trip Cancellation{{trip_cancellation}}{{averages.median_trip_cancellation}}
Trip Interruption{{trip_interruption}}{{averages.median_trip_interruption}}
Flight Delay{{flight_delay}}{{averages.median_flight_delay}}
Baggage Delay{{baggage_delay_insurance}}{{averages.median_baggage_delay_insurance}}
Lost or Stolen Baggage{{stolen_baggage}}{{averages.median_stolen_baggage}}
Event Cancellation{{event_cancel}}{{averages.median_event_cancel}}
Rental Car Theft & Damage{{rental_theft_damage}}No
Rental Car Personal Effects{{rental_personal}}{{averages.median_rental_personal}}
Rental Car Accident{{rental_accident}}{{averages.median_rental_accident}}
Hotel Burglary{{hotel_burglary}}{{averages.median_hotel_burglary}}
Mobile Phone Insurance{{mobile_insurance}}{{averages.median_mobile_insurance}}
Personal Effects Insurance{{personal_effects}}{{averages.median_personal_effects}}
Price Protection Insurance{{price_protection}}{{averages.median_price_protection}}




We scored it {{factor_score_insurance}} out of 5 for insurance.





It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.





Approval and qualifying







Do I qualify?
Estimated Credit Score{{credit_score_low}} - {{credit_score_high}}
Personal Income{{personal_income}}
Household Income{{household_income}}






Fees
Annual Fee{{card.annualFee}}
Extra Card Fee$0
Card type{{card_type}}






We scored it {{factor_score_approval}} out of 5 for approval.





We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.





This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.





The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.





This puts it in the {{decile.personal_income}} of cards by the income required to qualify.





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.





Earning potential





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.





Benefits






  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.




  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.




  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.




  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.





Drawbacks






  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.




  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.





Additional information





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.





Not the right fit? You could consider the TD Rewards Visa Card. Or, if you’re looking for other options check out the MBNA Smart Cash World MasterCard, and the MBNA True Line MasterCard.





FAQ







The TD Cash Back Visa Infinite Card rewards you in the form of cash back, rather than points. As a cardholder, you earn a percentage of cash back on eligible purchases, which can be redeemed as a statement credit applied directly to your account balance.





This helps you to offset your monthly credit card bill. Since cash back is a form of currency, you do not need to redeem it for specific products or services.





The cash back earned on your TD Cash Back Visa Infinite Card can be flexible and used however you’d like.







The TD Cash Back Visa Infinite Card does impose foreign transaction fees on its cardholders. Every purchase made in a foreign currency is subject to a 2.5% fee on the transaction amount.





This fee applies when accessing funds internationally, both online and in-person. It is essential for potential users and frequent travelers to consider this additional cost in their credit card decision-making process.







The TD Cash Back Visa Infinite Card has a minimum personal income requirement of $60,000 annually or a minimum household income requirement of $100,000 annually.







Key benefits






  • 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



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