The TD Cash Back Visa Infinite Card allows you to earn as high as 10% cash back on all your purchases when you spend up to $2,000 within the first three months after you apply. In addition to its cash reward benefits listed above, the card also offers travel and mobile device insurance coverage.
The TD Cash Back Visa Infinite Card has a somewhat high annual fee of $139, but the fee is completely waived for the first year. If you take advantage of all the benefits and perks, you can more than make up for the annual fee.
Although the TD Cash Back Visa Infinite Card is a great general-purpose cash back card, there are other better options out there, like the Cobalt card, which can give you even more than 10% back on everyday spending categories like food and drink and that's not a bonus welcome offer; that's the base rate, making it one of the best rewards credit cards in Canada.
What Is the TD Cash Back Visa Infinite Card?
TD Cash Back Visa Infinite Card is a cash-back credit card introduced by TD Bank Group, a world-leading online financial services company in Canada, to cater to mid to high-income earners in Canada. The card is known for its significant cash-back earning rates on eligible purchases made within the first three months. It also provides other great benefits, such as access to Visa Infinite 24/7 concierge services and emergency road assistance services via The Deluxe TD auto club membership.
Features Of The TD Cash Back Visa Infinite Card:
- Earn 10% cash back rewards on all purchases for the first three months for up to $2,000 when you apply on or before May 28, 2023.
- Earn 6% cash back on all purchases for the next $3,500 spent within the next three months.
- Annual fee: $139 per year (first-year annual fee rebate available if you qualify)
- Additional cardholder fee: $50 annual fee for each additional cardholder, with a first-year fee rebate for the first additional cardholder if you qualify
- Interest rate: 20.99% on purchases & 22.99% for cash advances
- Earn cash-back rewards per dollar spent
- 3% cash back for every $1 spent on groceries, gas, and regularly recurring bill payments
- 1% cash back dollars on every other purchase
- Earn 50% more cash-back points at Starbucks upon linking your TD Cash Back Visa Infinite card with your Starbucks Rewards account
- Access to Visa Infinite benefits: These benefits include:
- The Visa Infinite Luxury Hotel Collection has seven exclusive benefits, including a complimentary breakfast.
- The Visa Infinite Dining Series
- Visa Infinite 24/7 Concierge Services
- The Visa Infinite Troon Golf Benefit, which provides discounts at 95 resorts and courses worldwide
- The Visa Infinite Entertainment Access provides you access to selected events across Canada.
- Access to Visa Secure, which safeguards cardholders when shopping online from monetary loss resulting from fraudulent card use
- Travel insurance coverage: including out-of-province emergency medical Insurance, delayed and lost baggage insurance.
- Rental Car Collision/Loss Damage: For car rental periods of 48 days or less and for cars with an MSRP of up to $65,000
- Car rental discounts on Avis Rent-A-Car and Budget Rent-a-Car with minimum discount values ranging from 5% – 10% in Canada and internationally
- Free Mobile Mobile Device Insurance with up to $1,000 coverage for 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
- Free Deluxe TD Auto Club Membership, including emergency travel assistance services
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
- Must earn a minimum annual personal income of $60,000 or household income of $100,000
Pros & Cons
Pros
- The TD Cash Back Visa Infinite Card saves you additional travel insurance costs with its out-of-province medical emergency medical insurance and delayed and lost baggage insurance.
- Up to 10% Cash back rewards on all purchases within the first three months.
- First-year annual fee rebate when you activate your card and make your first purchase within the first three months after account opening
- 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
Cons
- High annual fees of $139 per annum, plus $50 for each additional cardholder
- High minimum income requirements of $60,000 – $100,000
- The maximum cash-back reward rate reduces to 3% after the first three months
Pricing
The TD Cash Back Visa Infinite Card's annual fee is $139, slightly higher than the average $120 annual fee for cards with similar benefits, such as the American Express Cash Back Card or the Marriott Bonvoy by Amex. That said, if you're willing to pay a bit more, you can get even better perks with cards like the Amex Gold, or you can even go premium with options like the Platinum Card for Canadians. In the latter case, even though the fee is very high, you can get a lot more from the card every year if you use it smartly.
Summary
TD Cash Back Visa Infinite Card is a personal credit card targeted toward middle-income earners in Canada. With a bonus cash-back rate of at least 10% on your first $2,000 spent within the first three months, the card is excellent for accumulating cash-back rewards in the first few months of ownership. The card also offers a rebate on the first-year annual fee if you meet the qualification requirements, making it easy to recoup the yearly cost of $139 for the first year. It also has several travel perks, making it an excellent travel option.
TD Cash Back Visa Infinite Card FAQs
What Information is Required to Apply for the TD Cash Back Visa Infinite Card?
The following information is required to open a TD. Cash Back Visa Infinite Card:
- Full legal name
- Date of birth
- Contact info and email address
- Home address
- Employment status and income source(s)
- Gross annual income
- Residential status
What are the Insurance Perks & Coverage on the TD Cash Back Visa Infinite Card?
- Out-of-province emergency medical Insurance: The TD Cash Back Visa Infinite Card provides coverage of up to $2,000,000 per insured person per trip for the first ten consecutive days for those less than 65 years old and four straight days for those 65 years or older as of the trip departure date.
- Delayed & Lost Baggage Insurance Certificate: Provides coverage of up to $1,000 per insured person for essentials when baggage is delayed for over six hours, lost or stolen with a common carrier.Â
- Car rental collision/loss damage insurance: The TD Cash Back Visa Infinite Card provides insurance coverage for rental car damage or theft for rental periods of at most forty-eight (48) consecutive days and with a manufacturer's suggested retail price of $65,000 or less.
Pro Tip: you can add the no-fee Canadian Tire Triangle Mastercard at no extra cost to your wallet and make the most of your road trip by getting discounts on gas along the way.
- Mobile device insurance: The TD Cash Back Visa Infinite Card provides coverage of up to $1,000 per occurrence for lost, stolen or accidentally damaged mobile devices. The coverage usually takes effect 30 days from and ends two years from the purchase date of your mobile device and is applicable anywhere in the world as long as you:
- Charge at least 75% of the total purchase Cost to Your card and activate Your Mobile Device with a provider; or
- Charge the up-front cost to your card, finance the balance of the total cost through a plan, and charge all monthly wireless bill payments to your account
- TD Cash Back Visa Infinite Card Purchase Coverage:
- Purchase security: Ensures items purchased with your card against theft and damage for up to 90 days from the purchase date
- Extended warranty coverage: Extends the original manufacturer's warranty period by up to one additional year.
What are other Perks & Coverage on the TD Cash Back Visa Infinite Card?
- Access to Visa Infinite benefits: The TD. Cash Back Visa Infinite Card provides exclusive access to dining, entertainment, and hotel privileges reserved for Visa Infinite Cardholders. Such privileges include:
- Visa Infinite Dining Series: A series of dining events with top chefs at the best restaurants and wineries across the country
- Visa Infinite Wine Country: A series of complimentary wine tastings at over 95 participating wineries in British Columbia, Ontario, and Sonoma Valley. This benefit also includes discounts on wine purchases and private vineyard tours.
- Visa Infinite Luxury Hotel Collection: Access to seven exclusive benefits when you book a stay at one of the over 900 Visa Infinite Luxury Hotel Collection. These benefits may include the following:
- Automatic room upgrade, when available
- Complimentary breakfast for two
- Access to Visa Infinite Troon Golf Benefit: This benefit provides 10% off green fees & merchandise at participating Troon Rewards golf courses across the US & around the world.
- 24/7 Visa Infinite Concierge services: The TD. Cash Back Visa Infinite Card offers you access to 24/7 concierge services which could be helpful with getting restaurant recommendations, making dinner reservations at a trendy restaurant, or planning your travel itinerary.
- Visa Infinite Entertainment Access: Obtain exclusive year-round access to curated events across Canada, including the Toronto International Film Festival
- Free TD Auto Club Membership: Deluxe auto club membership is included for free with the TD Cash Back Visa Infinite* Card. The benefit provides you with 24 hours a day Emergency Road Services in case a personal emergency occurs when you are out on the road. The emergency road services include toll-free access to assist when travelling also.
- 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
How do I Maximize my TD Cash Back Visa Infinite Card?
You can maximize your TD Cash Back Visa Infinite card by:
- Paying your bills promptly to avoid penalties on late bill payments
- Setting up recurring bill payments to take advantage of the cash-back rewards on recurring payments.
- Linking your account to your Starbucks account
- Paying for car rentals using your card to take advantage of discounts
- Utilizing the Visa infinite benefits provided by the card
Is there a limit to the rewards you can accumulate with the TD Cash Back Visa Infinite Card?
No, there is no limit to the reward points you can accumulate with the TD. Cash Back Visa Infinite Card.
However, after the first three months, its maximum cash-back earning rate reduces to about 3% when you spend on specific categories such as grocery, gas, and recurring bill payments.
How can you Redeem your TD Cash Back Visa Infinite Card Back Rewards?
You can redeem your TD Cash Back Visa Infinite Card rewards for a minimum of $25 online or through the TD Mobile App.
How can you Qualify for the TD Cash Back Visa Infinite Card Back Annual Fee Rebate?
You can qualify for the first-year annual fee rebate by activating your card and making your first purchase within the first three months after opening your account.
Is the TD Cash Back Visa Infinite Card Worth it?
Despite its high annual fee of $139, the TD Cash Back Visa Infinite Card could be worth it if you maximize its perks and cash bonus rewards.
Do my TD Cash Back Visa Infinite Card Rewards Expire?
No, the TD Cash Back Visa Infinite Card reward points do not expire if the TD Cash Back Visa Infinite Card account remains open with the bank and is in good standing.
