Best TD Bank Credit Cards

Card Details	The Offer	Is it Worth It?
Pros and Cons	Why 5 Stars?	Fees
Benefits

Card Details

Regular APR:	14.74, 19.74, or 24.74 (Variable)
Intro APR (Purchases):	None
Intro APR (Balance transfers):	0% for 12 billing cycles
Rewards Rate:	3% Cash Back on dining 2% at grocery stores 1% on all other eligible purchases
Credit Needed:	(670 – 850) Good/Excellent
Annual Fee:	None
Card Brand:	Visa

*See online credit card application for details on the terms and conditions.

Offer Highlights

• Click APPLY NOW to apply online
• Earn $200 Cash Back when you spend $500 within 90 days after account opening
• Earn 3% Cash Back on dining – from casual to fine dining and everything in between
• Earn 2% Cash Back at grocery stores
• 1% Cash Back on all other eligible purchases

Is TD Cash Credit Card worth it?

TD Cash Credit Card is a great card for paying off debt and getting cash back. The 0% intro period is 12 billing cycles. Keep in mind it can take 2 to 4 weeks to process a balance transfer request, during which your balance will still be accumulating interest payable to its current bank.

TD Cash has a 3% balance transfer fee, which is an average fee for most cards. By comparison, the Chase Slate has no balance transfer fee for transfers in the first 60 days, but on the other hand it doesn?t offer any rewards or signup bonus.

Cardholders earn 3% Cash Back on dining, from casual to fine dining and everything in between, 2% at grocery stores, and 1% on all other eligible purchases. The example TD gives on their website exemplifies the cash back rate perfectly: it you spend $2000 a month, that’s $500 on dining, $500 on grocery stores, and $1,000 on all other eligible purchases you would earn 0.03 x 12 x 500 = $180 for dining, 0.02 x 12 x 500 = $120 for grocery stores and 0.01 x 12 x 1000 = $120 on all other spending. That’s $420 in cash back.

Add the $200 signup bonus and you are up to $620. This is an excellent cash back offer. If you’re really on the fence though, consider this: if you got the Citi Double Cash with unlimited 2% cash back, you’d get $480 in value the first year. That?s less than $620 from TD Cash. After the signup bonus no longer plays a part though, Citi Double Cash would in fact be more valuable because $480 is more than TD Cash?s $420 in cash back, neglecting the sign up bonus.

Compared to another popular card, Discover it Cash Back, TD Cash would be worth less in year one by far, because of Discover’s cash back match, but in year two TD Cash would be worth about the same for most people, because although Discover it Cash Back has 5% cash back categories, it takes a little more effort to manage rotating categories each quarter and you’d have to spend wisely to substantially beat $420 in value.

For example, using the spend above of $500 per month on dining, $500 per month on groceries and $500 in other categories, that would be $1500 of spend on dining per quarter spent during the 5% grocery category quarter and that would be $1500 on groceries per quarter spent during the grocery category quarter, earning you .05 x $3000 = $150.

With unlimited 1% cash back the rest of the year on dining and groceries expenses when they are not the selected 5% cashback category and also including the 1% cash back on the $1000 monthly of other expenses, you would earn .01 x 12 x $1000 = $120 on your other expenses and .01 x 9 x $1000 = $90 on your dining and grocery purchases in addition to their $150 of 5% cash back earnings. That?s a total of $360 before the cash back match, which would make it $720.

Now, to beat out TD Cash in year two with the Discover it Cash Back, you would just have to make sure you got $60 more value by making certain some of your 1% cash back purchases are in another 5% cash back category of purchases approved by Discover.

It’s not hard to fit into these remaining categories. Another category besides dining and groceries on Discover’s website is purchases at Amazon.com, Target & Walmart.com. To be exact, if you were to spend $1500 at, in this example 5% category, Amazon.com, Target & Walmart.com, you would utilize the 5% cash back category enough to bring the value up to $420, exactly equal to TD Cash.

Our analysis shows that other cards can get similar cash back to TD Cash. However, for people who spend a lot on dining and groceries, this is a great, simple card.

Pros

• 0% for 12 billing cycles
• Earn 3% Cash Back on dining – from casual to fine dining and everything in between
• Earn 2% Cash Back at grocery stores

Cons

• Other cards offer similar cash back or more benefits

Why 5 Stars?

Regular APR

4 Stars

Intro APR

5 Stars

Fees

5 Stars

Perks

5 Stars

Overall

5 Stars

Fees

Foreign Transaction Fee	None
Balance Transfer Fee	Either $5 or 3% of the amount of each transfer, whichever is greater
Cash Advance Fee	Either $10 or 5% of the amount of each cash advance, whichever is greater
Penalty APR	None

Benefits

$0 Fraud Liability

Auto Rental Collision Damage Waiver

Extended Warranty Program

Lost Luggage Reimbursement

Purchase Protection

Roadside Assistance

Travel Accident Insurance

Travel Assistance

Editorial Note: This content is not provided by the issuer. Any opinion, analyses, reviews, or recommendations expressed on this page are those of the author?s alone, and may not have been reviewed, approved or otherwise endorsed by the issuer.

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