TD Cash Back Visa Infinite Review 2024: Is It Worth It?
Dec 10, 2024TD Cash Back Visa Infinite card can benefit bigger households and road warriors who maximize this card's 3% cash back at the grocery store and pumps.
The TD Cash Back Visa Infinite card is a cash-back credit card that earns 1% or 3% on eligible purchases (even more if you take advantage of its generous intro offer).
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TD Cash Back Visa Infinite full review
The TD Cash Back Visa Infinite is one of two personal cash-back cards offered by Toronto-Dominion Bank and its subsidiaries, also known as TD Bank Group. The card offers 3% cash back on eligible purchase, but the annual fee and income requirements may be too high for some shoppers.
Benefits of the TD Cash Back Visa Infinite card
Cash back that never expires.
Round-the-clock roadside assistance, courtesy of a free Deluxe TD Auto Club Membership.
Car rental discounts through Avis and Budget.
Visa Infinite perks, including 24-hour access to the Visa Infinite Concierge service team, complimentary wine tasting at participating wineries and discounts at eligible golf courses.
Travel insurance, including medical and lost/delayed baggage coverage.
Drawbacks of the TD Cash Back Visa Infinite card
The 3% cash back on groceries and gas drops to 1% once you spend more than $15,000 annually in either category.
The 3% cash back on recurring bill payments is also subject to a $15,000 annual spending cap and will drop to 1% once this threshold is reached.
Who should get the TD Cash Back Visa Infinite card?
The TD Cash Back Visa Infinite offers its highest earn rate on groceries, gas and recurring bill payments. Therefore, those with sizable grocery bills, multi-vehicle households or long commutes will be able to make the most of this credit card’s cash-back rewards program.
Additionally, anyone who likes to use their credit card for recurring bills will benefit — as long as they commit to paying off the statement balance in full. Eligible recurring bills might include monthly insurance premiums, streaming subscriptions, membership fees or internet service. Keep in mind that using your credit card to pay bills may incur additional fees, which can offset the benefits of earning cash back.
Is TD Cash Back Visa Infinite worth it?
It depends on your spending habits. Ideally, you want to get more than you give when you have a credit card. After the first year, the TD Cash Back Visa Infinite’s annual fee is $139. To recoup that cost by earning cash back, you’d need to spend at least $4,633 on groceries, gas or bills in one year (about $386 monthly). Anything you spend on eligible purchases beyond this amount will earn cash back and you’ll come out ahead.
TD Bank customer ratings
Below average in customer satisfaction: TD Canada Trust ranks 10th for overall customer satisfaction out of 13 issuers in J.D. Power’s 2024 Canada Credit Card Satisfaction Study. The TD Cash Back Visa Infinite Card also ranked ninth out of 15 cards with an annual fee.
Low Trustpilot rating: TD Bank ranks 1.4 out of 5 possible stars based on over 2,300 customer reviews, as of this writing.
Low Better Business Bureau customer rating: TD Bank scored 1.3 out of 5 possible stars based on over 60 customer reviews, as of this writing. It has a BBB rating of F and is not accredited.
TD Cash Back Visa Infinite eligibility
Who qualifies for the TD Cash Back Visa Infinite card?
To qualify for the TD Cash Back Visa Infinite card, you must:
Be a Canadian resident.
Be at least the age of majority for your province or territory.
Have a minimum annual income of $60,000 for an individual or $100,000 for a household.
Approximate credit score needed for approval
Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. What we do know is that higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for.
Want to learn more? Our guide can help you figure out what credit score is typically needed for a credit card.
TD Cash Back Visa Infinite rewards
10% in Cash Back Dollars on eligible gas and grocery purchases and pre-authorized payments on recurring bills in the first three months of card ownership, up to a total of $3,500 across the three categories.
Annual fee waived for the first year of card ownership.
Welcome offer valid until January 6, 2025.
3% cash back on gas and groceries. Once you spend more than $15,000 in either category, a 1% cash-back rate applies.
3% cash back on recurring pre-authorized payments (up to $15,000, then 1% cash-back rate applies).
1% cash back on all other purchases.
Right off the bat, the free year of card membership immediately saves you $139 with the waived annual fee. But how much value could you squeeze out of the accelerated welcome rate?
You could earn a potential $350 cash back with the welcome offer’s 10% accelerated cash back rate by spending $3,500 in eligible purchases in the first three months. On top of that, an annual fee rebate is available for both the primary cardholder ($139) and one additional cardholder ($50).
That’s a total value of up to $500 — all within the first year of card membership.
Point value breakdown
The value of TD Rewards points varies on the redemption method you choose, but you can expect to get around 0.23 to 0.47 cents per point.
0.5 cents per point for Travel Purchases made through Expedia For TD.
0.25 cents per point for the first $1,200 of any Book Any Way travel redemption request, and 0.20 cents per point for any amount that is over $1,200 for the same Book Any Way travel redemption.
0.3 cents per point for Amazon.ca redemptions.
0.25 cents per point for gift cards.
Up to 0.28 cents per point for shopping with merchant partners.
0.25 cents per point for a cash credit.
How to apply for the TD Cash Back Visa Infinite card
The application process for the TD Cash Back Visa Infinite card is fairly straightforward.
Select the Apply Online button from the TD Cash Back Visa Infinite page on TD Bank’s website.
Sign in if you are an existing customer, or continue as a new customer.
Select Continue after reading the eligibility requirements.
Select your province of residence.
Review the card’s terms and conditions and select ‘I Agree’ to continue.
Enter your personal details, including your full name, date of birth, phone number, email address and residential address.
Tell TD Bank about your employment status.
Tell TD Bank about your finances, including your annual personal income, household income and residential status.
Review the information you’ve submitted and select your preferred credit limit.
Add personal information for any additional cardholders, if applicable.
Review the card’s insurance coverage, as well as the terms and conditions.
Submit your application.
TD Cash Back Visa Infinite vs TD Cash Back Visa
Both of these TD credit cards earn cash back, but eligibility criteria and earn rates vary.
Rewards breakdown
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NerdWallet's take
NerdWallet's take
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Rewards breakdownNerdWallet's take
NerdWallet's takeCard details
Card detailsReasons you might want a different card
There are other circumstances in which the TD Cash Back Visa Infinite simply won’t be a practical fit:
You don’t spend much on groceries.
You don’t have a car.
You don’t meet the minimum income requirement.
You’d prefer to earn a different type of reward, such as travel points.
Options for earning travel points instead: The TD Aeroplan Visa Infinite and TD Aeroplan Visa Infinite Privilege earn Aeroplan points on everyday spending, as well as elevated points in eligible categories. Points can be redeemed for flights, hotels, car rentals, gift cards and more.
TD Cash Back Visa Infinite Card facts
TD Cash Back Visa Infinite Card | |
|---|---|
Card type | |
Fees and interest rates | |
Annual fee | $139.00 |
Regular/purchase APR | 20.99%*. |
Penalty APR | 25.99% (27.99% for cash advances) if you miss two payments within 12 months. This penalty APR will stay in place until you’ve made 12 consecutive payments on time. |
Cash advance APR | 22.99%*. |
Cash advance fee | 1% of any cash advance transaction made in Canada. If the fee is less than $3.50, TD Bank charges a minimum cash advance fee of $3.50 up to a maximum of $10. Cash advance transactions outside Canada cost $5. |
Balance transfer fee | 3% of the transaction amount. |
Foreign transaction fee | 2.5% of the transaction amount. |
Rewards and benefits | |
Intro offer | Get 10% cash back on eligible purchases for the first three months following card activation for a total spend of $3,500. Plus, no annual fee for the first year. Account must be approved by by January 6, 2025. |
Reward earn rates | Earn 3% cash back on grocery purchases, gas purchases and recurring bill payments. Earn 1% cash back on all other purchases. |
Other perks |
|
Insurance coverage | |
Travel medical | Up to $2,000,000 for medical emergencies. |
Lost or delayed baggage | Up to $1,000 per person per trip to cover the cost of emergency essentials, like toiletries and clothes. |
Rental car theft/damage | For up to 48 days. |
Extended warranty | Up to 1 additional year. |
Purchase protection | 90 days. |
Mobile device protection | Up to $1,000 of mobile device protection in case of loss, theft, accidental damage or mechanical issues. |
* Disclosure: This offer is not available for residents of Quebec. | |
Methodology
BACK TO TOPNerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation methodology include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.
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Shannon Terrell
Shannon Terrell