The Best TD Bank Credit Cards — Complete Review

With over 1,200 branch locations in the US alone, TD Bank has proclaimed itself to be “America’s Most Convenient Bank.” And, with extended hours seven days a week and 24/7 live customer service, we can see why.

As one of the 10 largest banks in the US, TD Bank has dedicated itself to being there for its customers by giving back to the community, connecting with customers on a real, human level, and by encouraging diversity and inclusiveness in the workplace.

“At TD Bank, we believe that fostering a diverse and inclusive culture that celebrates different viewpoints sends a powerful message and encourages change.” - Head of Commercial Credit Management Administration and LGCT Subcommittee Chair, Robert Pompey, on TD Bank’s recent perfect score on the 2017 Corporate Equality Index.

Along with the standard checking and savings accounts, investment management services, and more, they also offer credit cards to consumers — five to be exact. We’ve reviewed the pros and cons of each card to help you decide if one of them is right for you.

1. TD Cash Credit Card

Highlights:

  • Earn 2% cash back on dining purchases
  • Earn 1% cash back on everything else
  • $150 cash signup bonus
  • 0% Intro APR on balance transfers for 12 months
  • $0 annual fee

The TD Cash Card could be a fantastic card choice for you, especially if you enjoy dining out regularly. Along with cash back rewards, you’ll also get free access to your VantageScore®, fraud protection, and credit education tools through TD Bank’s online portal. 

We recommend you have Fair to Excellent (650-850) credit to apply for this card.

Pros

Besides the obvious benefits of having a great cash back card, the fact that there’s no annual fee and no foreign transaction fees makes it a thrifty choice to keep in your wallet even if you don’t necessarily plan to use frequently.

If foreign transaction fees aren’t a huge concern for you (say, if you don’t really travel much), I can see how that benefit may not seem like a huge benefit to you. But if you do plan to go on a trip at some point, it’s great to know you won’t have to pay any fees to use your card. Some cards charge up to 3% fees on all foreign transactions which can add up to a small fortune by the time you return home!

Arguably the biggest benefit of the TD Cash Card though is the high flat rate reward of 2% cash back on dining purchases. If you tend to dine out regularly, you’ll see a decent amount of cash back savings accumulate rather quickly by using this card. it’s a solid choice for using at restaurants, delis, coffee shops, fast food places, and more.

One last benefit worth mentioning is the 0% intro APR on balance transfers for the first 12 months. Again, it’s probably not the main reason you’re looking into getting this card, but can be helpful to anyone looking to consolidate their credit card debt.

Cons

Despite offering a great 0% intro APR on balance transfers, the offer doesn’t extend to purchases. What that means is you’ll want to pay off the entire balance on anything you buy within the same billing cycle in order to avoid paying interest.

Additionally, there is a 4% fee on transferring balances to the card. While not a deal-breaker to us, many other balance transfer cards have a 3% fee. If securing a lower balance transfer fee is important to you, here are four options to consider. 

2. TD First Class℠ Visa Signature®

Highlights:

  • Earn 3x points on dining and travel
  • Earn 1x points on everything else
  • Bonus: 25,000 First Class miles (valued at $250)
  • $0 annual fee the first year, then $89

A premium TD Bank rewards card, the TD First Class℠ Visa Signature®, is designed for people who spend money regularly on travel and dining purchases. 

We recommend you have Excellent (750-850) credit to apply for this card.

Pros

The high rewards rate on dining and travel purchases are a major selling feature of this card. And, while you’re savings on those purchases, you can also earn 25,000 bonus miles (a $250 value) by spending $3,000 within the first 6 months of opening an account! There’s no limit on how many miles you can earn and your rewards never expire as long as your account stays open and is in good standing.

You’ll also enjoy complimentary access to a 24/7 concierge service, your VantageScore®, and roadside assistance when you travel. All these benefits (and more) are definitely useful when you’re away from home.

Cons

Like every credit card though, there are some downsides to the TD First Class℠ Visa Signature®. Starting with the $89 annual fee, you’d have to spend at least $3,000 a year on travel and dining in order to justify the annual fee. If this doesn’t sound maintainable, it might be wise to consider another option. Another potential downside - especially if you belong to a frequent miler or hotel loyalty program - is you won’t be able to transfer reward miles to those programs. Instead, miles can be redeemed as a statement credit for travel or be cashed in for gift cards and merchandise.

3. TD Aeroplan™ Visa Signature®

Highlights:

  • Earn 2x miles on Air Canada purchases
  • Earn 1x miles on everything else
  • Bonus: 25,000 miles (valued at $1,500!)
  • $0 annual fee the first year, then $95

TD Aeroplan™ Visa Signature® Credit Card is a co-branded credit card offered in partnership with Air Canada. If you fly Air Canada often and want to redeem free flights on Air Canada or other Star Alliance airlines, it’s a great choice. It also happens to be the only Air Canada card available to US residents. 

We recommend you have Good to Excellent (690-850) credit to apply for this card.

Pros

Travelers who regularly use Air Canada stand to benefit the most from this card. Along with earning double Aeroplan miles on purchases made on Air Canada, you’d also earn one Aeroplan mile per $1 on everything else you spend. The cherry on top is these miles would be in addition to the miles you’d earn for being a member of Air Canada’s frequent flyer program.

Miles never expire and can be used to book flights to over 1,300 destinations in over 190 countries, so there’s no shortage of destination options! And, for a limited time, you could earn a signup bonus of 25,000 miles when you spend $1,000 on purchases in the first 3 months of opening your account.

Cons

Even with the annual fee being waived for the first year,it’s important to consider if it’s worth keeping the card once the fee kicks in (there’s $0 annual fee the first year, then $95 each year after that). To justify the fee, you’d have to spend at least $4,750 a year with Air Canada to break even on the annual fee.

Another potential downside are the foreign transaction fees associated with the card. Even though many cards charge these types of fees, it’s surprising in this case since the card itself tends to encourage international travel.

One last thing to consider are the regular APR percentages on purchases, which can be quite high (depending on your creditworthiness). If you tend to carry a balance on your card, the build up of interest fees could quickly replace the benefits and savings.

4. TD Ameritrade Client Rewards

Highlights:

  • Earn 1.5x points on everything
  • Bonus: earn 10% more when you redeem rewards with your Ameritrade account
  • $0 annual fee

TD Ameritrade Client Rewards Card is partnered with TD’s investment division to benefit customers with an Ameritrade brokerage account. And, while you don’t have to be an Ameritrade customer to sign-up for an account, it certainly boosts the overall benefits of having the card. 

We recommend you have Fair to Excellent (650-850) credit to apply for this card.

Pros

Hands down the best benefit is the generous 1.5% rewards earning rate. Since you’d earn a flat rate of 1.5% on all purchases, it’s easy to keep track of and doesn’t require much upkeep at all. Rewards are unlimited and have flexible redemption options, meaning you can trade your rewards for statement credits, merchandise, and gift cards if you’d like.

To get the most out of your rewards though, we recommend redeeming them for cash into your TD Ameritrade account. By doing so, you’ll receive a 10% bonus each time — talk about incentive for TD Ameritrade customers!

Example: If you earn 10,000 reward points, the value would normally be $100. By redeeming into your TD Ameritrade account though, you’d get $110 instead because of the 10% bonus.

Cons

The 10% bonus only applies to customers who redeem rewards into their TD Ameritrade accounts which leaves everyone else earning the 1.5% flat rewards rate. It’s still a great option, but if you do decide to sign up, you may want to consider opening up a TD Ameritrade account along with it.

5. TD Business Solutions

Highlights:

  • Earn 1x point on everything
  • Bonus: $200 cash back for signing up
  • $0 annual fee

The TD Business Solutions Card is the only business rewards card offered by TD Bank and has a flat rate reward on all purchases. 

We recommend you have Good to Excellent (690-850) credit to apply for this card.

Pros

An easy to use, flat-rate rewards credit card is a solid choice for any business owner. And, while the TD Business Solutions Card may not offer the highest rate out there, it’s still a great choice for people who want to earn some type of rewards on their business related purchases.

Many self-employed people don’t realize that they’re eligible to apply for business credit cards but as long as you provide a federal tax ID (EIN), license or revenue stream, you are able to apply.

The TD Business Solutions Card also offers 0% intro APR on balance transfers which is generous amount of time on a business credit card.

Some other benefits include auto rental insurance, $0 fraud liability, and a limited-time bonus of 20,000 bonus points when you spend $3,000 on purchases in the first 3 months.

Cons

While it’s great to earn some type of rewards on purchases, the low earning rate leaves more to be desired. If earning rewards is important to you, it may be best to consider another option.

Which One Is Right For You?

If you want rewards…

If earning rewards is an important factor in your decision, the TD Cash Card or TD Ameritrade Client Rewards Card are both great options to consider.

While TD Bank members could potentially get 10% more for their rewards redemption with the TD Ameritrade Client Rewards, the TD Cash Card also fits the bill by offering 2% cash back on dining purchases and 1% on all other purchases — all without needing a TD Bank account.


If you plan on doing a balance transfer…

The TD Cash or TD First Class℠ Visa Signature® both offer an introductory 0% APR on balance transfers for 12 months.

Also noteworthy: if you’re looking for a business credit card, TD Business Solutions also offers 0% intro APR on balance transfers for 12 months, which is uncommon for business cards.


If you travel often…

For avid travelers, the TD First Class℠ Visa Signature® and TD Aeroplan™ Visa Signature® cards may be your best bet. Both offer great rewards for different types of travel and competitive signup bonus offers.


If you own a business…

The TD Business Solutions Card is an obvious choice for business owners looking for a TD Bank credit card, as it’s currently the only option offered by TD Bank; however, if you’re already a TD Bank customer with a TD Ameritrade account, you may want to consider signing up for the TD Ameritrade Client Rewards Card to receive 10% more rewards each time you redeem into your Ameritrade account.


If you’re already a TD Bank member…

While all the card options covered above could be the right fit, if you already have a TD Ameritrade account, the card with the most to offer is the TD Ameritrade Client Rewards Card. Besides offering 1.5X rewards on all purchases, you’ll also get a 10% bonus when you redeem points into your TD Ameritrade brokerage account.

Disclaimer: This content and the opinions expressed here are the author’s alone and have not been provided, commissioned, or endorsed by the credit card issuer. All information was accurate at the time of this post but card terms and conditions may change at any time.

Are you thinking about signing up for a TD Bank credit card? Share your thoughts in the comments below!

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