3 Best TD Student Credit Cards Canada (Feb 2023)

January 9, 2023
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The TD Cash Back Visa Card is a no-fee cash back credit card targeted toward Canada's low-income earners. With the TD Cash Back Visa Card you can earn 1% cash back on qualifying purchases at grocery stores, gas stations, and recurring subscriptions. On all other purchases, you'll earn a flat 0.5% cash back.

The TD Cash Back Visa Card is one of the few student credit cards in Canada that doesn't charge an annual fee – or any kind of fee. With this credit card, you can earn bonus TD points at Starbucks, a 10% discount at Avis and Budget car rentals, and extended warranty protection on most purchases.

The Best TD Student Credit Cards

  1. TD Cash Back Visa Card: Best for cash back with no annual fee
  2. TD Emerald Flex Rate Visa Card: Best for flexible interest rate
  3. TD Rewards Visa Card: Best for reward points with no annual fees

1. TD Cashback Visa CardBest Overall

Features

  • Annual fee: $0 per year
  • Additional cardholder fee: $0 annual fee for each additional cardholder
  • Interest rate: 19.99% on purchases & 22.99% for cash advances
  • Earn cash-back rewards per dollar spent
    • 1% cash back dollars for every $1 spent on eligible grocery and gas purchases and recurring/pre-authorized bill payments on card
    • 0.5% in cash back dollars on every other eligible purchase
    • Earn 50% more TD Rewards Points and 50% more stars at Starbucks stores upon linking your TD card to your Starbucks rewards account
  • Access to enhanced security features, including visa zero liability, verified by visa and TD instant fraud alerts
  • Purchase security for eligible new items stolen or damaged within 90 days of purchase, and extended warranty protection for double the warranty period or up to 12 additional months
  • Access to emergency cash advance: With your TD Cash Back Visa Card, you can request an emergency cash advance to a maximum of $500
  • Access to enhanced security features, including visa zero liability, verified by visa and TD instant fraud alerts
  • Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car with a minimum discount value of 10% off the lowest base rates in Canada and the US and a minimum discount of 5% internationally
  • Option to purchase Business TD Auto Club membership

Eligibility requirements

To be eligible for the card:

  • You are a Canadian resident.
  • You are of the age of majority in your province/territory of residence.
  • Your business must not owe any back taxes or any source deductions.

Pros & Cons

Pros
  • Allows you to earn cash-back rewards on every purchase made
  • Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car 
  • Purchase security and extended warranty protection for up to one additional year 
  • No minimum individual or household income requirement 
  • No annual fee
Cons
  • The card has few benefits besides allowing you cash-back rewards on every purchase.
  • Relatively low maximum cash-back of 1% per dollar spent compared to other no-annual fee cash-back cards.
  • No welcome bonus offers on the TD Cash Back Visa Card.

2. TD Emerald Flex Rate Visa Card – Best for flexible interest rate

Features 

Annual fee: $25 ($0 for each additional cardholder included)

Variable Interest rate: TD Prime rate plus a fixed rate tier ranging from 4.50% – 12.75% on purchases and cash advances. The fixed prime rate as of the date of the article is 6.45%

More Details

  • Access to enhanced security features, including visa zero liability, verified by visa and TD instant fraud alerts
  • Purchase security for eligible new items  stolen or damaged within 90 days of purchase, and extended warranty protection for double the warranty period or up to 12 additional months
  • Access to emergency cash advance: With your TD Cash Back Visa Card, you can request an emergency cash advance to a maximum of $500, subject to your credit limit
  • Access to enhanced security features, including visa zero liability, verified by visa and TD instant fraud alerts
  • Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car with a minimum discount value of 10% off the lowest base rates in Canada and the US and a minimum discount of 5% internationally
  • Option to purchase Business TD Auto Club membership
  • Earn 50% more cash-back points at Starbucks upon linking your TD Cash Back Visa Infinite card with your Starbucks® Rewards account

Pros & Cons

Pros 
  •  Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car 
  • Purchase security and extended warranty protection for up to one additional year 
Cons
  • No cash back rewards or reward points on purchases
  • The variable interest rate portion makes the interest charges hard to predict

Eligibility requirements

To be eligible for the card, you:

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  • Must be a permanent Canadian resident
  • Must have attained the age of majority in the Canadian province of residence

3. TD Rewards Visa Card – Best for reward points with no annual fees

Features

The TD Rewards Visa Card has some great features overall, which include: 

  • Earn $50 worth of rewards points when you apply on or before May 28, 2023. These rewards comprise of:
    • 9.99% promotional interest rate on purchases within the first six months
    • Up to 15,152 TD reward points when you keep your accounts open and in active standing for the first 90 days.
  • Annual fee: $0 per year
  • Additional cardholder fee: $0 annual fee for each additional cardholder
  • Interest rate: 19.99% on purchases & 22.99% for cash advances
  • Earn rewards points per dollar spent
    • 4 TD reward points for every $1 spent on eligible travel booking through Expedia for TD
    • 3 TD reward points for every dollar spent on eligible groceries and restaurant purchases up to a maximum of $5,000 per annum
    • 2 TD reward points for every dollar spent on recurring bill payments up to a maximum of $5,000 per annum
    • 1 TD reward point for every $1 spent on every other purchase category and every $1 spent on every grocery, restaurant, and recurring bill payment after reaching the initial $5,000 spending limit
  • Earn 50% more reward points at Starbucks upon linking your TD Cash Back Visa Infinite card with your Starbucks® Rewards account
  • Access to Visa Secure, which safeguards cardholders from monetary loss resulting from fraudulent card use
  • Free Mobile Mobile Device Insurance with up to $1,000 of coverage in case of loss, theft, or accidental damage of eligible mobile devices.
  • Purchase security for eligible new items  stolen or damaged within 90 days of purchase, and extended warranty protection for double the warranty period or up to 12 additional months
  • Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car with a minimum discount value of 10% off the lowest base rates in Canada and the US and a minimum discount of 5% internationally
  • Optional benefits: These include:
    • TD Auto Club Membership
    • TD Credit Card Payment Protection Plan: This is a payment protection plan designed to assist you with your TD credit card obligations in case of a job loss, total Disability, or death.

Eligibility requirements

To be eligible for the card, you:

  • Must be a permanent Canadian resident
  • Must have attained the majority age in the Canadian province of residence

Pros & Cons

Pros
  • 9.99% promotional interest rate on purchases within the first six months when you apply on or before May 2023
  • Car rental discounts on Avis Rent-A-Car and Budget Rent-A-Car 
  • Access to mobile device insurance of up to $1,000 per occurrence
  • Purchase security and extended warranty protection for up to one additional year 
  • No annual fee
  • No minimum income requirements
Cons
  • The card offers few additional benefits besides allowing you to earn reward points on every purchase.
  • The card does not provide any travel insurance coverage.
  • The bonus reward points offered by the card are minimal.
  • The card reverts to a low earn rate of one reward point per dollar when you reach the $5,000 spend limit for each purchase category.

TD Student Credit Cards FAQs

What information is required to apply for the TD Student Credit Card?

The following information is required to open a TD Rewards Visa Card :

  • Full legal name
  • Date of birth
  • Contact info and email address
  • Home address
  • Residential status

What are some perks & coverage on the TD Student Credit Card?  

  • Car rental discounts on Avis Rent-A-Car and Budget Rent-a-Car with a minimum discount value of 10% off the lowest base rates in Canada and the US and a minimum discount of 5% internationally
  • More reward points on Starbucks purchases:  Earn 50% more reward points at Starbucks upon linking your TD Cash Back Visa Infinite card with your Starbucks® Rewards account
  • Access to Visa Secure, which provides cardholders who shop online with increased security by safeguarding them from monetary loss resulting from fraudulent card use

How do I maximize my TD Student Credit Card rewards?

You can maximize your TD Student Credit Card Rewards by:

  • Paying for car rentals using your card to take advantage of discounts
  • Paying off your credit card balance on time and regularly to avoid incurring any charges or penalty

Is there a limit to the rewards that you can accumulate with the TD Student Credit Card?

No, there is no limit to the overall reward points you can accumulate with TD Rewards Visa Card. 

What can you redeem your rewards on your TD Student Credit Card rewards for?

You can redeem your TD Student Credit  Card reward points in several ways. Some categories you can redeem your points include:

  • Online shopping: You can redeem your TD Rewards Points to purchase items online on TDRewards.com or Amazon.ca with Amazon Shop with Points.
  • Travel (Go places with points): You can redeem your TD rewards points on travel purchases – including flights, hotel rooms, excursions, and car rentals – through Expedia For TD or any other travel agency.
  • Financial rewards: If your student credit card is a TD Cash Back Visa Card, you can redeem the reward points on your card to pay down your credit card balance. 

When can you redeem your TD Student Credit Card rewards?

  • For the TD First Class Travel card, rewards points must be redeemed in a minimum of 200-point increments when booking travel purchases through Expedia for TD online or with your phone. For travel purchases not booked through Expedia For TD, reward points are to be redeemed in minimum increments of 200 or 250 points.
  • For the TD Cash Back credit card, you can redeem your cash back dollars as a credit towards your account balance once your balance is up to $25.

Do the rewards on my TD Student Credit Card expire?

No, the TD Student Cards reward points do not expire if your TD Rewards Visa Card account remains open with the Bank and is in good standing.

Can I have more than one TD credit card at the same time?

Yes, having more than one TD credit card at a time is possible.

Why get a TD Student Credit Card?

 Student credit cards are relatively cheaper to obtain than other credit cards. They are also an excellent way to start building a credit history in Canada.

How do you apply for a TD Student Credit Card?

To obtain a TD student credit card, you must be considered eligible by the credit card provider. Eligibility requirements include the following:

  • You must be a Canadian citizen, a permanent resident, or an international student.
  • You must have attained the age of majority in your province of residence.

Are TD Student Credit Cards worth it?

Yes, they are worth it to students. They come at little to no annual fee, are relatively easy to qualify for, and are great for building a credit history.

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