Dollarwise

TD Rewards Visa Card Review

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Visa > TD







Advertising disclosure









{{card.name}} Review







{{ranking}}

★★★★★











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Apply Now ->



















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Annual Fee







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Annual Rewards







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Intro Offer









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Annual fee







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Annual rewards







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Intro offer
























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).









{{factor_score_rewards}}

















Rewards











{{factor_score_fee}}

















Fees











{{factor_score_perks}}

















Perks











{{factor_score_interest}}

















Interest rates













{{factor_score_insurance}}

















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}}.





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.





When selecting a credit card, it’s vital to analyze the earning potential and weigh the benefits and drawbacks it offers. In this review, we’ll take a close look at the TD Rewards Visa Card, evaluating its reward rates, advantages, and downsides to help you decide if it’s the right card for you.





Earning potential with the card





With the TD Rewards Visa Card, cardholders earn TD Reward Points based on their spending habits. The reward rates are as follows:






  • 3 TD Reward Points for every $1 spent on groceries, dining, and recurring bills.




  • 2 TD Reward Points for every $1 spent on travel through ExpediaForTD.com.




  • 1 TD Reward Point for every $1 spent on all other purchases.





Benefits






  1. No Annual Fees: One of the primary advantages of the TD Rewards Visa Card is that there are no annual fees. This makes the card an attractive choice for those who want to avoid paying fees for owning a credit card.




  2. Flexible Point Redemption System: The TD Rewards program offers a flexible point redemption system, allowing cardholders to redeem points for travel expenses, gift cards, merchandise, or even pay off their statement balance. This flexibility gives users multiple ways to utilize their earned points.




  3. Expedia For TD: Cardholders gain access to exclusive deals and discounts through ExpediaForTD.com, a dedicated site for TD credit card users. This benefit allows users to get more value for their reward points when booking travel through Expedia.




  4. Travel Insurance Coverage: The TD Rewards Visa Card comes with basic travel insurance coverage, which includes travel medical and accident insurance. This coverage provides an additional layer of protection for cardholders during their trips.





Drawbacks






  1. Drawback: The TD Rewards Visa Card offers a higher earn rate for groceries, dining, and recurring bills, but not for some popular spending categories such as travel, gas, and entertainment. As a result, those who spend heavily on these categories may find the TD Rewards Visa Card less rewarding.




  2. Drawback: Unlike many other credit cards, the TD Rewards Visa Card does not currently offer a welcome bonus or promotional interest rate for new users. This absence may make the card less appealing to those who are looking for an attractive sign-up offer.





Additional information





The minimum income requirement for the TD Rewards Visa Card is relatively low, making it more accessible to a wide range of individuals. Furthermore, users can add authorized users to the account at no additional cost.





In conclusion, the TD Rewards Visa Card is a solid no-annual-fee option for those who primarily spend on groceries, dining, and recurring bills. With flexible point redemption options and basic travel insurance coverage, this card caters well to the needs of both frequent and casual spenders.





However, those who spend more on non-bonus categories or seek a lucrative sign-up bonus may need to consider other options.





Is the TD Rewards Visa Card not convincing you? Consider the TD Cash Back Visa Infinite Card or the MBNA True Line Gold MasterCard. Still not the right credit card? Make sure not to miss the TD Aeroplan Visa Infinite Card.





FAQ







With the TD Rewards Visa Card, you can redeem your points for a wide variety of rewards. Some of these options include:






  • Travel Rewards: You can redeem your points towards flights, hotels, car rentals, cruises, and vacation packages through the TD Travel Rewards program, with no blackout dates or seat restrictions.




  • Gift Cards and Merchandise: Redeem your points for various brand-name gift cards or on a selection of merchandise, including electronics, home appliances, fashion items, and more.




  • Education Credits: Points can be converted to help with education expenses by crediting them towards the balance on your Higher Ed Points account, which can then be redeemed on tuition fees at participating Canadian colleges and universities.




  • Charitable Donations: Use your TD Rewards points to make donations towards a charity of your choice.




  • Bill Payments and Cash Credits: Points can also be applied towards your monthly credit card balance or redeemed for cash credits, which will be applied directly to your TD Rewards Visa Card account.







The TD Rewards Visa Card does come with foreign transaction fees. For purchases made in a different currency, the foreign transaction fee amounts to approximately 2.5% of the converted amount.





This fee applies to every transaction made in a currency other than Canadian dollars and might not be suitable for those who frequently shop internationally or travel abroad.







The TD Rewards Visa Card does not have a minimum income requirement, allowing a broader range of applicants to qualify for this credit card.







Key benefits






  • Zero-dollar yearly charge




  • Introductory 15,000-point gift with TD Rewards




  • 2 points acquisition for each dollar spent at grocers, eateries, and fast-food establishments




  • Trio TD Rewards Points per dollar used in funding globetrotter arrangements with Expedia collaboration




  • Unitary point accumulation for dollar utilization on diverse expenditure categories




  • Advantageous rebate schemes via Visa SavingsEdge affiliation




  • Enhanced Warranty Protection Plan accompanying Purchase Security measures




  • Reduced remuneration accrual for indefinite expense category




  • Nominal preeminence of traversing rewards primarily adhering to Expedia liaison




  • Travel safety assurances and vehicle leasing insurance unavailability




  • 2.5% fee imposition on foreign currency conversions




  • Absence of promotional durations for debt consolidation or currency loans




  • $12,000 obligatory minimum personal fiscal warranty



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