The TD Rewards Visa Card is a basic no-fee credit card that lets you earn points in the bank’s proprietary TD Rewards program.
The card is a good fit for casual travellers who are looking to earn points consistently with a fixed and predictable rate of return, but without paying an annual fee.
Bonuses & Fees
Until August 16, 2021, the TD Rewards Visa Card is offering 15,152 TD Rewards points as a signup bonus, upon keeping your account open and in good standing for 90 days.
The card has no annual fee for the primary or supplementary cardholders.
The card’s earning rates are as follows:
- 3 TD Rewards points per dollar spent on travel booked through Expedia for TD
- 2 TD Rewards points per dollar spent on groceries, restaurants, and recurring bill payments
- 1 TD Rewards points per dollar spent on all other purchases
Since TD Rewards points can be redeemed optimally at a value of 0.5 cents per point, these are equivalent to a 1.5%, 1%, and 0.5% return, respectively.
The best way to redeem TD Rewards points is by booking travel through Expedia for TD, an online travel portal operated in partnership with Expedia.
You can book flights, hotels, car rentals, vacation packages, and anything else that you would normally be able to book via Expedia. You’d apply your TD Rewards points to the purchase at a rate of 200 points = $1, or 0.5 cents per point.
If you’d rather not book through Expedia for TD, you can also redeem TD Rewards points directly against any travel purchase that you purchase with your TD First Class Travel Visa Infinite. However, the rate isn’t quite as competitive at 250 points = $1, or 0.4 cents per point.
Redeeming for statement credits, gift cards, or Amazon purchases is also possible, although the rate is even less appealing at 300-400 points = $1, or 0.25-0.33 cents per point.
Generally speaking, you should always strive to redeem your TD Rewards points for travel through Expedia for TD whenever possible, in order to maximize their value.
TD Rewards points never expire as long as you’re a cardholder. If you cancel or switch your card to a different product, you’ll have 90 days’ time to redeem your TD Rewards points before they go away, although you’ll lose the ability to book through Expedia for TD for 0.5 cents per point, and you’ll be limited to redeeming against any travel purchase for only 0.4 cents per point.
Perks & Benefits
The TD Rewards Visa Card comes with car rental discounts at Avis and Budget: 10% in Canada or the US, and 5% internationally.
In addition, cardholders will also receive an annual discount on a Priority Pass lounge membership, although this benefit isn’t nearly as strong as other credit cards that offer a Priority Pass membership (often with free lounge visits) as a complimentary perk.
As a no-fee card, the TD Rewards Visa Card is fairly weak when it comes to insurance coverage. In particular, there is no travel insurance of any kind.
The only types of coverage are found when making purchases: cardholders will get extended warranty of up to one additional year, as well as purchase protection that insures you against damage or theft of an item for up to 90 days after purchase.