One of Canada’s big five banks, and the tenth largest in North America, TD has some of the most popular credit cards on the market.
With a portfolio of ten personal credit cards (all issued by Visa), the majority of TD’s credit cards are geared towards travel rewards. That said, there is a TD credit card out there to meet almost every need including cash back and low interest.
The best TD credit cards in Canada
- Best TD cards for travel: TD First Class Travel Visa Infinite Card and TD Aeroplan Visa Infinite Card
- Best TD card for cash back: TD Cash Back Visa Infinite Card
- Best no annual fee travel: TD Rewards Visa Card
- Best no annual fee cash back: TD Cash Back Visa
- Best low interest TD card: TD Emerald Flex Rate Visa Card
Best TD credit cards for travel rewards
Both the TD First Class Travel Visa Infinite and TD Aeroplan Visa Infinite are widely considered as some of the best travel credit cards in Canada. While the TD Aeroplan card is aimed at people whose airline of choice is Air Canada, the First Class Travel Visa is more flexible as it lets you book travel on the ExpediaforTD online portal (which has the same airline and hotel options as Expedia.ca).
Why we like the TD First Class Travel Visa Infinite:
As far as sign-up bonuses go, the TD First Class Travel Visa Infinite’s offer is hard to beat. New applicants who are approved by June 2, 2019 won’t have to pay the card’s $120 annual fee for one year and can get up to 80,000 TD bonus points* ($400 value). Better yet, these points can be redeemed for flights on almost any airline of your choice as well as any of the hotel or vacation packages available on ExpediaforTD.com, which offers the same inventory of travel options as Expedia.ca.
Along with its flexible airline options, another big perk of the First Class Travel Visa Infinite is its redemption system. You can redeem points from increments of just 200, so you won’t have to wait to accrue several thousand points before you can actually start using them. You can also book your travel plans using a mix of credit and points.
The card’s earn rate is 9 TD Rewards points for every dollar spent on travel via ExpediaforTD, and 3 points per dollar on all other purchases. Since 1 TD Rewards point equals to $0.005, that translates to an impressive 4.5% return per dollar on travel spending and 1.5% on everything else.
Why we like the TD Aeroplan Visa Infinite Card:
The TD Aeroplan Visa Infinite is the official credit card of Aeroplan and comes with a generous welcome bonus that includes a first year annual fee waiver and up to 30,000 Aeroplan miles*, which is enough for 2 short-haul round trip flights. As an airline affiliated card, it also offers unique travel benefits including one free checked-in bag and priority check in on Air Canada flights that are booked using Aeroplan miles.
In terms of rewards on your everyday spending, this card will earn you 1.5 Aeroplan miles for every dollar spent on grocery, gas, drugstore and aircanada.com purchases and 1 mile per dollar on everything else.
* The 30,000 point bonus is offered in two phases; 15,000 points when the first purchase is made on the card and an additional 15,000 points when $1,000 is spent within the first three months of account membership.
Both the aforementioned TD travel credit cards come with comprehensive travel insurance packages that include: $1,000,000 in emergency medical out-of-province insurance; $1,500 in trip cancellation/trip interruption coverage per insured person; and up to $1,000 in baggage coverage for delays of six hours or more. You also get discounts at Avis and Budget Rent-A-Car locations in Canada with both cards. If you’ve booked a reward flight with your TD Aeroplan Visa Infinite card, then you’ll get your first checked bag free and access to a Maple Leaf Lounge (once per year).
Best TD credit card for cash back
The TD Cash Back Visa Infinite Card is one of the best cash back credit cards in Canada due in large part to its welcome offer, which will earn you 6% on gas, groceries and recurring bills for your first three months (up to $210). The included Deluxe TD Auto Club Membership is also highly appealing to drivers since it’ll give you peace of mind when you’re on the road at no additional cost.
Why we like it:
Even when the three-month welcome offer ends, the TD Cash Back Visa Infinite delivers a strong return of 3% on gas, grocery, and recurring bills; and 1% on all other purchases. That’s a compelling earn rate, particularly for families or those who spend big at the pump and on restocking the fridge. Plus, unlike some other cash back credit cards, with the TD Cash Back Visa Infinite, you can claim your cash back to pay down your balance whenever you want (minimum redemption of $25).
Thanks to the card’s included TD Auto Club Membership, you’ll also be covered during roadside emergencies such as in the case of a dead battery or tire change. That means you can ditch the CAA Membership and avoid paying the $100 or so in annual fees it costs to maintain it.
As mentioned, you get a Deluxe TD Auto Club Membership by being a TD Cash Back Visa Infinite cardholder, which helps to offset the $120 annual fee that comes with the card. You also get travel insurance, discounts at Avis and Budget Rent-A-Car locations, purchase security and extended warranty protection.
Best (no fee) TD travel card
Understandably, some people don’t like paying an annual fee for their credit card. If you still want to earn travel points, then the TD Rewards Visa could be a good fit. It’ll give you a decent earnings rate for a no fee card and you’ll get access to the ExpediaforTD online portal, where you can use one of the world’s largest travel platforms to earn and redeem points on hundreds of airlines.
The earn rate is 3 TD Rewards points for every dollar spent on ExpediaforTD, 2 points per dollar on groceries, restaurant, fast food purchases, and recurring bill payments; and 1 point per dollar on all other purchases. Since 1 TD point is valued at $0.005, that works out to 1.5%, 1% and 0.5% return per dollar respectively for each of the aforementioned spending categories.
Why we like it:
You’ll get 5,000 TD Rewards points ($25 value) as a welcome bonus just for keeping your account open, active and in good standing for 90 days after getting your card. 3 TD points per dollar (1.5% return) is also one of the strongest earn rates on travel spending for a no fee card. Access to ExpediaforTD is also a huge benefit, as you can redeem points flexibly from almost any airline without having to worry about seat restrictions or black-out dates.
Best (no fee) TD cash back card
TD Cash Back Visa
For those who prefer a cash back card with no fee, then the TD Cash Back Visa card could be your answer. It’s a basic cash back card that offers 1% on gas, groceries and recurring bill payments and 0.5% on everything else. While it does come with limited additional benefits, that’s not uncommon for a no fee card. Plus, you won’t have to worry about your rewards as your cash back will never expire as long as your account is open and in good standing.
Why we like it:
While the TD Cash Back Visa card’s earn rate isn’t the most impressive, it charges no annual fee and has no minimum income requirement. That means it’s easily in reach of students or those who are looking to build their credit history and earn some rewards on the side. This card also lets you claim your cash back whenever you want ($25 redemption minimum), which is a stand-out feature considering that most other cash back cards only let you cash out your rewards once a year.
When renting a car with Avis or Budget in Canada and the US, you’ll get a minimum of 10% off base rates and 5% off base rates for international rentals. The included purchase security covers eligible purchases for 90 days from theft and damage while the extended warranty protection doubles the manufacturer’s warranty up to an additional year.
Best TD credit card for low interest
TD Emerald Flex Rate Visa
If you typically carry a balance, getting a low interest credit card such as the TD Emerald Flex Rate Visa ($25 annual fee) is better for your bottom line than any cash back or travel credit card since you can pay less interest over time.
The TD Emerald Flex Rate Visa is unique since the interest rate can vary. The interest on purchases is the TD Prime rate + 4.50% to 12.75%. Since the TD Prime rate is currently 3.90%, your interest rate will fall between 8.40% to 16.65%. The higher your credit score, the more likely you’ll get a lower interest rate. So, in a sense, this credit card encourages you to improve your credit.
Why we like it:
Regardless of whether or not your credit score sits above the 650 mark, this card will charge you an interest rate that’s notably lower than the typical 19.99% found on most other credit cards. The card’s low APR for purchases also applies to cash advances, which means you’ll also save on interest in cases of emergencies when you need to access paper money from your credit card.
As with the other no fee TD credit cards, you get discounts at Budget and Avis Rent-A-Car locations, extended warranty, and purchase security protection.
TD All-Inclusive Banking Plan
What makes TD credit cards particularly appealing is that TD will waive the annual fee on many of its premium cards if you also have a TD All-Inclusive Banking Plan. The caveat is that you’ll need to maintain $5,000 in your chequing account at all times to avoid the monthly account fee, but if that’s within your financial means, you could essentially have both a premium card and bank account for free. Even without an All-Inclusive account and when paying an annual fee however, TD cards do deliver great value.