Visa > TD

TD Cash Back Visa Infinite Card Review

3.49

$139

Annual Fee

$492

Annual Rewards

10% Cash back

Intro Offer

$139

Annual fee

$492

Annual rewards

10% Cash back

Intro offer


Pros


  • Earn a high cash back rate of 3% on eligible grocery, gas, and recurring bill payments
  • 1% cash back on all other purchases with no limit on earnings
  • Complimentary Roadside Assistance and travel insurance benefits
  • Get a welcome bonus of 6% cash back on all purchases for the first three months (up to $2,000 in total purchases)
  • Access to Visa Infinite Concierge services and Luxury Hotel Collection benefits
  • Purchase security and extended warranty protection

Cons


  • $120 annual fee which may not suit those looking for a no-fee card
  • Cash back redemption is not automatic; you must request it
  • Foreign transaction fee of 2.5% on foreign currency transactions
  • Those who don’t spend frequently on eligible categories may not maximize cashback potential

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 TD Cash Back Visa Infinite Card has earned a 3.49 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

Rewards

Fees

Perks

Interest rates

Insurance

Acceptance

Approval

The highest scoring categories for the TD Cash Back Visa Infinite Card are rewards and insurance.

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 TD Cash Back Visa Infinite Card the most important factors for scoring this card are its rewards and insurance.

Rewards

With the TD Cash Back Visa Infinite Card, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Bills3%
Pharmacy1%
Gas3%
Groceries3%
Restaurants1%
Specific Stores1%
Travel1%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the TD Cash Back Visa Infinite Card would earn $492 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$126
Gas$72
Groceries$180
All Other Spend$114

Our study investigating the value found that each dollar spent on the TD Cash Back Visa Infinite Card is worth up to $0.02, depending on how you redeem.

This $492 in rewards value puts the TD Cash Back Visa Infinite Card in the top 30% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the TD Cash Back Visa Infinite Card earns $492 in rewards value.

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
Bills3.00%1.25%
Pharmacy1.00%1.17%
Gas3.00%1.48%
Groceries3.00%1.71%
Restaurant1.00%1.53%
Store1.00%1.94%
Travel1.00%1.19%
Other1.00%1.08%
Above, we’ve calculated the earn rate for the TD Cash Back Visa Infinite Card for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards
Apply to statement credit$910

For an annual spend of $24,000, we estimated annual rewards value at up to $492.

That’s equivalent to a 2.05% return on spending.

The TD Cash Back Visa Infinite Card has an annual fee of $139. After deducting this, we predicted net annual rewards of $353.

This puts it in the top 40% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.

Fees

The TD Cash Back Visa Infinite Card has a $139 annual fee.

The average card charges $85. So, the TD Cash Back Visa Infinite Card is in the top 20% of cards based on the cost of the annual fee.

Perks

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

The TD Cash Back Visa Infinite Card scored a 1.9 out of 5 for perks, putting it in the top 40% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Purchase20.99%
Cash Advance22.99%
Balance Transfer22.99%

The average (median) credit card has a purchase interest rate of 19.99% and so the TD Cash Back Visa Infinite Card charges 1% more than the average.

For cash advances it costs 22.99% compared to the average of 19.96%.

Testing the TD Cash Back Visa Infinite Card with a $2,000 starting balance, you can see in the graph how the 1% more in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

InsuranceThis CardAverage
Extended Warranty1 year1 year
Purchase Protection90 days90 days
Emergency Medical Term10 days15 days
Emergency Medical over 654 days4 days
Baggage Delay$1,000$500
Lost or Stolen Baggage$1,000$1,000
Rental Car Theft & DamageYesNo
Mobile Phone Insurance$1,000$1,000

We scored it 3.0 out of 5 for insurance.

It offers 8 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score660 – 724
Personal Income$60,000
Household Income$100,000
Fees
Annual Fee$139
Extra Card Fee$0
Card typeVisa

We scored it 3.0 out of 5 for approval.

We predict that you will require a credit score of at least 660 to qualify for the TD Cash Back Visa Infinite Card, while the average card requires 652 to qualify.

This puts it in the top bottom 50% of cards by approval difficulty.

The personal income requirements are $60,000, while the average card requires $23,896.

This puts it in the top 20% 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

About The Author