The best TD credit cards in Canada 2022

The best TD credit cards 2022

Best credit card for cash back:

TD Cash Back Visa Infinite*

The TD Cash Back Visa Infinite’s main draw is its strong 3% return in three very popular spending categories: Groceries, gas and recurring bill payments. This, along with the 1% base rate that applies to everything else, makes it one of the highest-earning cash back cards in Canada. Even better, your cash back never expires and you can redeem it (in $25 increments) whenever you want. 

This card also comes with a few notable perks, including up to $2 million in travel medical insurance on trips of up to 10 days and delayed or lost baggage protection. Drivers and commuters will be interested in the included deluxe membership in TD Auto Club (roadside service membership valued at $79 annually), rental car collision/loss damage protection, and discounts for rentals at Budget and Avis. As a Visa Infinite card, it gets you perks like access to a concierge and luxury events.

• Annual fee: $120 (rebated first year)

• Interest rates: purchases 20.99%, cash advances 22.99%

• Welcome bonus: Earn 10% cash back on all purchases for the first 3 months (up to total spend of $2,000) when you apply for the card online. After that continue to earn 6% cash back on gas and grocery purchases, and pre-authorized payments for the first three months (up to a total spend of $3,500). Must apply before September 5, 2022. Quebec residents, please click here.
• Earn rate: 3% cash back on eligible grocery and gas purchases, and on recurring bill payments; 1% cash back on everything else
• Additional benefits: Roadside service coverage with a deluxe membership in the TD Auto Club; up to $2 million in travel medical insurance (up to 10 days); auto rental collision/loss damage protection; savings at Avis and Budget; Visa Infinite perks including food and wine experiences and concierge. 

Income requirement: $60,000 individual or $100,000 household

Get more details about the TD Cash Back Visa Infinite*

Best credit card for flexible travel points:

TD First Class Travel Visa Infinite* 

Thanks to the partnership between TD and Expedia, you can redeem TD points you collect on the TD First Class Travel Visa Infinite for virtually anything travel-related including hotels, vacation packages, and flights—at any airline, hotel or travel provider listed on of the world’s largest travel comparison site. That flexibility put this card on our best TD credit cards list. Redemptions on ExpediaforTD.com are super straightforward: 200 TD Points are worth $1, or, put another way, 1 point = 0.5 cents. Spend frequently or save up—your points never expire. You can redeem points for travel outside of Expedia For TD or for merchandise or gifts, but be aware that you’ll get less value out of your points this way.

• Annual fee: $120 (rebated first year)

• Interest rates: purchases 19.99%, cash advances 22.99%, balance transfers 22.99%

• Welcome bonus: You can earn up to 100,000 TD points (up to $500 value) within the first 3 months of having the card. You’ll earn 20,000 TD points with your first card purchase, then another 80,000 when you spend $1,500 within the first 90 days, for a combined total of 100,000 points. Must apply before October 29, 2022. For Quebec residents, please click here.
• Earn rate: 9 TD points per $1 spent at ExpediaForTD.com and 3 TD points per $1 spent on everything else
• Additional benefits: Up to $1 million in travel medical insurance (up to 21 days), plus trip cancellation and interruption, common carrier accident, and delayed and lost baggage protection; Priority Pass membership discount; auto rental collision/loss damage protection and savings at Avis and Budget; Visa Infinite perks including food and wine experiences and concierge
• Income requirement: $60,000 individual or $100,00 household

Get more details about the TD First Class Travel Visa Infinite*

Best airline credit card:

TD Aeroplan Visa Infinite*

The new TD Aeroplan Visa Infinite has a super-impressive welcome offer, a first-year annual fee rebate. You’ll earn between 1 and 1.5 points per $1 on everyday spending, which can go towards booking flights on Air Canada or on over two dozen Star Alliance partner alliances. 

The card has a slew of travel perks, including preferred pricing when booking flights on points and savings on baggage fees on Air Canada flights. The insurance package is robust and includes hotel/motel burglary and auto rental loss and collision coverage. And between Aeroplan’s rewards chart and generous stopover policy, there are plenty of opportunities to maximize your points values and travel options further. 

• Annual fee: $139 (rebated for the primary and up to 3 supplementary cardholders for first year) 

• Interest rates: purchases 19.99%, cash advances 22.99%

• Welcome bonus: You can earn up to 50,000 Aeroplan points. First, earn 10,000 as a welcome bonus when you make your first purchase and another 20,000 when you spend $1,500 in the first 90 days. After that earn another 20,000 Aeroplan points when you spend $7,500 within the first 12 months of opening an account. Must apply by September 5, 2022. Quebec residents, click here.
• Rewards earn rate: Earn 1.5 points for every dollar spent at eligible gas stations and grocery stores and directly through Air Canada, You’ll also earn 1 point per $1 spent on everything else.

Additional rewards: Comprehensive travel insurance including up to $1 million in travel medical; first checked bag is free for you and up to 8 other travellers on the same reservation.

Get more details about the TD Aeroplan Visa Infinite*

Best no fee cash back credit card:

TD Cash Back Visa*

For those looking for a no-fee cash back card, consider the TD Cash Back Visa. When you spend with this card you’ll earn 1% back on groceries, gas and recurring bills, and 0.5% on everything else. The perks are lean—expect purchase security and extended warranty—but like other TD cards, your cash back never expires, and you can redeem it whenever you want (in $25 increments).

It’s important to note that when it comes to simple math, this is not the best no-fee credit card out there. The Tangerine Money Back is a better choice, offering up to 2% back on up to three spending categories. 

• Annual fee: $0

• Interest rates: purchases 19.99%, cash advances 22.99%

• Welcome bonus: None
• Earn rate: 1% cash back on eligible grocery and gas purchases, and on recurring bill payments; 0.5% cash back on everything else
• Additional benefits: Purchase security and extended warranty; savings on Avis and Budget rentals.
• Income requirement: None

Get more details about the TD Cash Back Visa*

Best student credit card:

TD Rewards Visa*

This card has some features not common to rewards cards, like no annual fee, a low-interest rate for the first year and a solid earn rate for reward points. All of this makes it perfectly suited to students on a budget. You can redeem your points for gift cards (that you can use for practical items, too), cash, travel and even rewards to help fund your education or pay off student loans.

• Annual fee: $0

• Interest rates: purchases 19.99%, cash advances 22.99%

Get more details about the TD Rewards Visa*

Best low-interest credit card:

TD Emerald Flex Rate Visa

Whether you’re looking for a balance transfer credit card, need to finance a big or unexpected purchase, or just want to score an ultra-low interest rate, this card is a great option. Its current welcome offer makes its interest rate super low, but it’s only for a limited time.

• Annual fee: $25

• Interest rates: purchases and cash advances 4.50% to 12.75% with TD Prime

• Welcome offer:

  Get a 6.49% promotional interest rate on purchases for the first 6 months when you apply by May 29, 2022. After that, you can qualify for a preferred low variable annual interest rate between 4.50% and 12.74% on both purchases and cash advances.

• Additional benefits: Save a minimum of 10% off rentals at Avis and Budget. You can also request an emergency cash advance of up to $500 on your card.
• Income requirement: None

TD All-Inclusive Banking Plan

TD’s All-Inclusive Banking Plan is a premium bank account that offers top-tier services and valuable discounts, some of which reward those carrying select TD credit cards. For example, All-Inclusive Banking Plan account holders receive an annual fee waiver when they sign up for certain TD credit cards for both the primary and one additional card holder—for as long as they carry the account. Just how much can you save? A bundle. The TD Cash Back Visa Infinite, for example, costs $120 annually plus $50 for up to one authorized cardholder. The $170 annual savings nicely offsets the account fees while allowing you to leverage the perks associated with your credit card. Eligible cards include the following: TD Aeroplan Visa Infinite, TD Aeroplan Visa Platinum, TD First Class Travel Visa Infinite, TD Platinum Travel Visa, and TD Cash Back Visa Infinite.

Sweetening the pot for account holders, TD rewards with premium chequing account benefits such as unlimited debit transactions and Interac e-Transfers, a small safety deposit box, money orders and personalized and certified cheques—all included. Additionally, there are no TD transaction fees when you use an ATM in Canada, the U.S. or internationally (except for exchange rate fees). Clearly, bundling accounts with the big banks has its perks, including that it keeps things simple.

This premium account does come at a premium price. The monthly fee is $29.95, or $22.45 for seniors. However, for those who can afford to keep $5,000 parked in the account, that fee is rebated, meaning all these perks including the credit card rebates are free. Otherwise, you’ll want to weigh the benefits against the cost. The annual fee comes out to nearly $360 (or almost $270 for seniors) but any credit card rebates would come out of that total.

About TD Cash Back Rewards

The TD Cash Back Rewards credit card program lets you redeem on-demand without time restrictions, unlike some other programs that restrict you to once per calendar year. You can redeem once you’ve accumulated $25 (that’s the minimum redeemable amount, too) and your cash-back rewards never expire. The TD program is one of the most flexible cash-back programs out there, though it’s worth mentioning that BMO does have an edge in that you can redeem with as little as $1 in your account.

About TD Rewards points

TD Rewards points can be redeemed for a range of gift cards, merchandise and even cash–but they’re first and foremost made for travel redemptions, specifically from the Expedia For TD website. The value of your points varies according to what you redeem them for, and how. We break down the options below:

Expedia For TD

200 TD points = $1 / 1 TD point = 0.5 cents (0.5%)

You’ll get the very best value from your points when redeeming on ExpediaforTD.com. There, you can put your points toward booking free or discounted travel from Expedia, one of the world’s largest travel search engines and online travel agencies. There are no blackout dates or airline restrictions, and the points values remain consistent no matter how, when or where you’re travelling, making this method a winner for those who don’t want to spend their time deciphering rewards charts.

Book Any Way

250 TD points = $1 on the initial $1,200 of travel booking / 1 TD point = 0.4 cents (0.4%)

200 TD points = $1 on any amount that is over $1,200 / 1 TD point = 0.5 cents (0.5%)

If you don’t want to use Expedia For TD, you do have the flexibility to book elsewhere, such as directly with an airline or another travel agency. You can use TD Points for virtually anything travel-related including flights, hotels, tours and car rentals. Simply select the Book Any Way option when redeeming points. The one disadvantage here is that at 0.4 of a cent per point on the initial $1,200, you’ll get slightly less value than you would on Expedia For TD. This works out to about 25% less value per point.

Redeem points for cash

400 TD point = $1 / 1 TD point = 0.25 cents (0.25%)

Everybody loves cash, but at 400 points per $1, using your TD points to get it isn’t the best idea. If you want to earn cash with TD, it’s better to go with one of TD’s cash back cards. However, if you’re still looking to turn your points into cash, you can–just know that you need a minimum of 10,000 points.

Redeem points for gift cards

Average 1 TD point = 0.25 cents (0.25%)

There’s a wide variety of gift card options on TDRewards.com, usable toward purchases at retailers including Best Buy, Canadian Tire, Foot Locker, Bed Bath & Beyond, and others. That said, the value of your redemption done this way matches what you’d get when using points for cash back so you’re better off using another method.

Redeem points for merchandise

TD points can be used toward a huge variety of merchandise, from exercise equipment to electronics. Points values on these items vary dramatically but generally will hover between 0.2 and 0.35 of a cent per point.

About Aeroplan Rewards points

Aeroplan launched a program overhaul on November 8, 2020, at which time Aeroplan points will be redeemable for flights based on a redemption chart that breaks up the world into four different travel zones: North America, Atlantic, Pacific and South America. You’ll be able to redeem points for flights on Air Canada, plus more than two dozen Star Alliance members, including Singapore Airlines, Austrian Airlines and United.

Points values vary depending on where you’re flying to and how popular the route is, but you can use this calculation:

Value of 1 Aeroplan point = (price of ticket – fees) ÷ Aeroplan points needed to redeem

So, as an example, if a round-trip flight from Toronto to Vancouver has a base fare of $405 and $20 in fees, your formula would look like this:

($405 – $20) ÷ 25,000 TD points = 1.54 cents per 1 Aeroplan point

You can also maximize your points values by adding stopovers, getting baggage fees waived, and so forth.

Learn more about changes to Aeroplan.

Any and all Aeroplan points you earned on an Aeroplan credit card between now and November 8, 2020 will be honoured on a one-to-one basis.