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TD Cash Visa Credit Card Review

TD Cash Visa Credit Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Dec 19, 2018. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you consider yourself a foodie, you probably spend a lot of money at restaurants or at Whole Foods each month. A great way to offset the cost of satisfying your palate is by using a cashback card that offers high rewards on dining out and food shopping. You can simply apply the cash back you earn as a statement credit to lower your bill.

One great option is the TD Cash Credit Card that has a rewards program centered around dining — cardholders earn 3% cash back on dining, 2% cash back at grocery stores, and 1% cash back on all other eligible purchases.

TD Bank has almost 1,300 locations across the East Coast. However, if you don’t live near one of their branches and banking in-person is a must, you’re out of luck. But you can still open a TD Cash Credit Card account regardless of where you live.

In this review, we’ll breakdown the benefits, drawbacks, and rewards of the TD Cash Credit Card, and provide alternative choices.

What we like about the TD Cash Credit Card

Opportunity to get out of debt. This card offers an intro 0% for the first 12 billing cycles on balance transfers (after, 14.99%, 19.99% or 24.99% variable APR). You can transfer debts from a non-TD Bank credit card to the TD Cash Credit Card and save on interest payments for a year. Just know, there is a balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, but it’s often outweighed by the benefits of avoiding high interest charges.

No foreign transaction fee. When traveling outside the U.S., you won’t be charged a fee on each purchase you make. For example, the typical foreign transaction fee that some other cards charge is 3%. If you travel abroad often or even occasionally, this is a helpful feature.

Immediate card replacement. If your card is lost or stolen, you can go to a TD Bank and receive an immediate replacement. We haven’t seen this option provided by other banks, giving TD Bank a leg up on the competition when it comes to getting a replacement card. Typically, replacement cards can take several business days to come in the mail, which is an inconvenience. And, if you request rush delivery, you may be charged a fee.

What we don’t like about the TD Cash Credit Card

Low 1% cash back on everyday purchases. Spending other than on dining and groceries only earns you 1% cash back, which is subpar. There are flat-rate cards that offer higher cashback rates around 2%-2.5% and can earn you more rewards on purchases such as gas, furniture and electronics.

No intro 0% APR period for purchases. This card lacks an introductory interest-free period on new purchases. While many cards offer no interest for six to 18 months on new purchases when you open a card, the TD Cash Credit Card does not provide a similar offer. As a result, you’ll need to pay off new purchases by your statement due date in order to avoid the 14.99%, 19.99% or 24.99% variable APR.

$25 cash back redemption minimum. If you want to redeem rewards for cash back as a statement credit or direct deposit to a checking or savings account, you have to wait until you have a $25 cashback balance (2,500 points). While this is common, some credit card issuers have no redemption minimums.

Rewards breakdown

The TD Cash Credit Card offers a competitive cashback rate on dining purchases. Cardholders earn 3% cash back on dining, 2% cash back at grocery stores, and 1% cash back on all other eligible purchases. This is similar to other dining credit cards and can provide you with more cashback rewards compared to general purpose cards that may only offer 1% to 2% cash back on dining purchases.

Looking at the whole of the cashback program, it’s just OK. You can find other grocery cards earning up to 6% cash back or flat-rate cards that earn up to 2.5% cash back. Cash back can be redeemed for a statement credit, direct deposit into a checking or

savings account, gift card, merchandise, and travel. The minimum amount you need to redeem for a statement credit or direct deposit is $25. Otherwise, it varies by redemption option. You can find out more at TDrewards.com.

This card does offer a fantastic new cardmember offer where you can earn $200 cash back when you spend $500 within 90 days after account opening (expires 1/31/19). Compared to other new cardmember offers, this is one of the largest bonuses you receive for such a low spending requirement.

Alternatives

Flat-rate cashback card

The Citi® Double Cash Card – 18 month BT offer has one of the best flat-rate cashback programs around — earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. This is a great rate for all purchases you make with your card. And, you can take advantage of a long balance transfer offer: 0% for 18 months on Balance Transfers (after, 13.99% – 23.99% (Variable) APR).

Dining rewards card

The Uber Visa Card offers a higher rewards rate on dining purchases: 5% back in Uber Cash on Uber rides, Uber Eats, and JUMP, 3% in Uber Cash on restaurants, bars, hotels, and airfare, and 1% back in Uber Cash on all other purchases This card has a wide range of purchases that qualify for dining, including restaurants, takeout, bars and UberEATS. This rewards program also allows you to conveniently redeem rewards on the go for Uber credits, gift cards, or cash back via the app.

Supermarket rewards card

  • $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.*

  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions and 1% Cash Back on other purchases.

  • 1% back on other purchases*

Highlights
  • Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
  • 6% Cash Back on select U.S. streaming subscriptions.
  • 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
  • Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
  • Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
  • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
  • $95 Annual Fee.
  • Terms Apply.
  • See Rates & Fees

See additional details for Blue Cash Preferred® Card from American Express

More Info

While 2% cash back isn’t considered “bad” for supermarket purchases, you can find cards that offer a higher rewards rate, such as the Blue Cash Preferred® Card from American Express. Cardholders earn 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions and 1% Cash Back on other purchases. Terms apply.

There is a $95 annual fee to consider, but it may be worthwhile if you spend a lot at U.S. supermarkets and U.S. gas stations.

To see rates & fees for Blue Cash Preferred® Card from American Express please click here.

Bottom line

The TD Cash Credit Card is a decent $0 annual fee card for grocery shoppers to earn cash back. Plus, the new cardmember offer provides a sizeable bonus for a reasonable spending requirement — earn $200 cash back when you spend $500 within 90 days after account opening (expires 1/31/19). If you happen to lose your card and live on the east coast, the ability visit your local TD branch is a helpful way to immediately get a new card without waiting several business days for a replacement by mail.


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