TD Cash Card Review: Worth The $150 Bonus?

If you’ve recently stumbled across the $0 annual fee TD Cash Credit Card — congratulations! You’ve uncovered an excellent card that’s relatively unknown.

In other words, you may have just uncovered the card you’ve been looking for all along.

Here’s why: TD Cash is a cash rewards card for people who want to earn money back on everyday purchases like: going out to eat, grabbing a quick cup of coffee, or running errands on your days off. 

You won’t have to jump through hoops to redeem your rewards or keep tabs on special spending categories to earn cash rewards.

Sound like what you’re looking for?

The beauty of this card is in its simplicity; it doesn’t require a lot of upkeep to have a big impact on your savings per year.

We reviewed the pros and cons and overall benefits of the TD Cash Credit Card to help you decide if it’s right for you. Here’s what we found:

Who doesn't love cash back?

Signup Bonus

TD Cash currently offers a $150 cash back bonus when you spend $500 in the first three billing cycles of opening an account.

As far as cash back bonuses go, this is a great one to consider since the spend requirement is one of the lowest we’ve seen.

Cash Rewards

You’ll earn 2% cash back on any purchase that’s categorized as ‘dining’ including: restaurants, coffee shops, fast food places, cafes, and more, and 1% cash back on all other purchases.

If you go out to eat regularly, your savings could really add up just by charging meals to your card. Just think, if you’re already spending upwards of $500 a month at restaurants, you could earn $120 cash back each year by using this card — that’s some serious savings!

Insider Tip: With this card you can buy Visa gift cards directly from TD Bank for no fees to purchase and make transactions. Normally you are charged a $5.95 fee for a $100 Visa gift card when you buy from a retail store or website. Great for gifts or even meeting minimum spend!

APR

You’ll get 0% Intro APR for the first 12 billing cycles on balance transfers. That’s an entire year to make interest-free payments and pay down debt.

Since this is a cash rewards card, the 0% intro APR on balance transfers is an added bonus. Even if you don’t intend to use it, it’s good to know you have the option.

After the intro APR period, the ongoing variable APR will be 13.74%, 18.74% or 23.74%, depending on your creditworthiness.

Fees

$0 annual fee and $0 foreign transaction fees make it a thrifty choice to keep around in your wallet, and, if you choose to use it while traveling, you won’t need to worry about incurring any fees.

There are two fees you should know about:

  • When making a balance transfer, there’s a 4% or $10 balance transfer fee (whichever is greater)
  • When getting a cash advance, there’s a 5% or $10 cash advance fee (whichever is greater)

Additional Benefits

You’ll receive:

  • Free VantageScore® and credit education tools
  • Protection from fraudulent purchases
  • Access to your TransUnion credit score through TD CreditView℠

If you’re approved for a credit line of $5,000 or higher, you’ll receive a Signature Visa card that comes with even more benefits such as: a 24/7 concierge, exclusive shopping perks, access to exclusive events, and more!

If you’re approved with a smaller credit line, that’s okay, too — there’s still plenty of benefits! You’ll receive a Platinum Visa card with all the standard benefits noted above.

The $0 annual fee TD Cash card

Pros

People who already have this card generally tend to love it. With a simple and high rewards rate, excellent 24/7 customer service, and no annual fee, this card wows with its cash rewards, 0% Intro APR for balance transfers, and ease of use.

Important: We recommend you have Fair to Excellent (650 - 850) credit if you decide to apply. We usually recommend you have only Excellent credit for most cash back cards, but TD Cash is an exception!

If you frequent restaurants, coffee shops, convenience stores, or fast food restaurants, this could be exactly the type of cash rewards card you’ve been looking for.

By earning 2% cash back on any purchase in the dining category, your cash rewards will accumulate quickly.

On top of that, you’ll also earn 1% cash back on ALL other purchases — so you’ll literally be earning cash back every time you use this card.

Here’s more:

  • $100 cash back when you spend $500 within the first three billing cycles (approx. 3 months)
  • Rewards are unlimited and never expire* — earn as much as you’d like
  • Zero liability for unauthorized transactions
  • No annual fee
  • No foreign transaction fee
  • No blackout dates, restrictions, or fees on redeeming your cash rewards

*Rewards only expire if you or TD Bank close the account.

Cons

Just because it’s a great card, doesn’t mean it’s right for everyone. Here are a few factors that may make you reconsider:

  • You can’t redeem cash back on the TD Bank mobile app
  • Cash rewards must be claimed in $25 increments
  • Travel rewards, gift cards, and merchandise are subject to availability

The Verdict

TD Cash Credit Card is a great choice for saving money on daily expenses — especially if you dine out often.

Not only can you earn unlimited rewards that never expire, you can also redeem them without having to worry about blackout dates, restrictions, or added fees.

The balance transfer fee is a bit higher than the average fee (many other cards have a 3% fee), but if you don’t intend to transfer a high amount of debt to your card, there’s no need to be concerned about it.

Learn more and apply for the TD Cash Credit Card here.

Another option: If you like what you’re reading about the TD Cash Card but prefer to earn miles instead of cash rewards, we recommend considering the TD First Class Visa Signature Card. This card focuses its rewards on travel and earning miles (although you can still convert those miles into cash back, if you like). Learn more here.

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.

Will you be applying for this card? Share your thoughts in the comments below!

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