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.” With extended hours seven days a week and 24/7 live customer service, we can see why.
But did you know that TD Bank also offers rewards credit cards? Along with standard checking and savings accounts, investment management services, and more, they also offer credit cards to consumers — 5 credit cards to be exact — with solid perks.
Each of the cards has $0 annual fee, or the annual fee is waived the first year.
Pros & Cons of TD Bank Cards
Each TD Bank credit card is tailored for a certain consumer, and the card that makes the most sense for "you" is based on what kind of rewards you want.
We’ve reviewed the pros and cons of each card. Do you know them all?
INSIDER TIP: As a TD Bank cardholder you can buy Visa gift cards directly from TD Bank for no fees. Normally you are charged a $5.95 purchase fee for a $100 Visa gift card when you buy from a retail store or website!
This little-known perk is one of the most underrated, especially for credit card point enthusiasts. You can use a credit card to buy the gift cards! Details on TD Bank's site here.
- 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 billing cycles
- $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. For most cash back cards we recommend only Excellent credit (750+) so this could be an excellent option if you have Fair or Good credit and get approved.
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.
$150 Cash Back after making $500 in purchases within first 90 days of account opening is a generous cash back signup offer with low minimum spend.
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 billing cycles. 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.
Ongoing APR is 13.74%, 18.74% or 23.74%* variable APR based on creditworthiness. If you don't have great credit and get approved with a high APR, it could cost you significant money if you carry a balance.
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 for us since the cash benefits are more important, other balance transfer cards have lower transfer fees. (If you're looking solely for a balance transfer card, here are five other options to consider.)
- 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.
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 billing cycles 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.
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.
APR is 13.99%* variable based on Prime Rate. If you're approved, you'll have the set APR at the time without having exposure to a "range" of APRs like most cards at the time of approval. If you carry a balance, this is one of the lowest interest rate cards available on the market!
- Earn 2x miles on Air Canada purchases
- Earn 1x miles on everything else
- Bonus: 25,000 Air Canada miles (valued at up to $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.
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 billing cycles of opening your account.
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.
APR is 14.74%, 19.74% or 23.74%* variable APR based on on creditworthiness. If you don't have great credit and get approved with a high APR, it could cost you significant money if you carry a balance.
- $100 cash signup bonus
- 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.
$100 Cash Back Bonus after making $500 in purchases within first 90 days of account opening is a nice perk.
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.
The 10% Ameritrade redemption 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.
APR is 13.74%, 18.74% or 23.74%* variable based on your creditworthiness. If you don't have great credit and get approved with a high APR, it could cost you significant money if you carry a balance.
- 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.
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 a generous amount of time and very rare for a business credit card.
Some other benefits include auto rental insurance, $0 fraud liability, and a limited-time bonus of 20,000 bonus points ($200 value) when you spend $3,000 on purchases in the first 90 days.
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.
$200 Cash Back signup offer seems generous but it's only after making $3,000 in purchases within first 90 days of account opening. That's much more minimum spend to meet vs. the TD Cash card, for example, which is $150 Cash Back after making $500 in purchases within first 90 days.
Which One Is Right For You?
If you want to buy Visa gift cards for no fee...
Any of the five TD cards will allow you to purchase Visa Gift Cards from TD Bank for no purchase or transaction fees! This is an amazing little-known perk of being a TD cardholder since usually retail stores and other websites charge anywhere from a $4-$10 just to buy a single Visa gift card.
If you want rewards…
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…
Also noteworthy: if you’re looking for a business credit card, TD Business Solutions also offers 0% intro APR on balance transfers for 12 billing cycles, 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.
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.