TD Cash Credit Card Review

Full Review of TD Cash Credit Card

Pros Explained

• Generous one-time bonus: You'll receive $150 cash back when you spend $500 within 90 days of opening your account. Receiving a 30% return on your spending for the bonus requirement is a fairly nice offer for a cash back card with no annual fee. There are other, similar offers. The Capital One SavorOne card has the same spending requirement and offers a $200 bonus. But other cards require you to spend much more. The American Express Blue Cash Everyday card offers up to $250 back after you spend $2,000 in purchases during the first six months. 
• No annual fee: Cardholders don't have to worry about earning enough cash back rewards to offset an annual fee.
• Balance transfer offer: This card comes with a balance transfer offer of 0% APR for 12 billing cycles, but the TD Cash card does charge a balance transfer fee of $5 or 3%, whichever is greater. New cardholders should consider whether the interest savings offset the balance transfer fee before choosing this option.

Cons Explained

• Minimum amount required for cash back redemption: Cardholders must rack up enough points to get $25 (that’s 2,500 points) before becoming eligible to start redeeming. Other cards, like the Capital One Quicksilver, allow you to redeem cash rewards with no minimum requirement.

Who This Card Is Best For

The TD Cash card is ideally suited for anyone who wants to earn cash back rewards with their spending and get extra rewards for dining and grocery spending. This card is well suited as a secondary card for those who spend considerably on groceries that have a specific card for those purchases that have capped earnings.

For example, the Blue Cash Everyday card offers 3% cash back on groceries but limits cardholders to $6,000 in purchases per year. The cash back rate drops to 1% after this point. The TD Cash card can provide a way to earn 2% on their supermarket trips, rather than dropping to 1%, for those who reach this threshold.

The TD Cash card can also work well for those who like to dine out, with a pleasant 3% back on restaurant expenditures.

This card works as an acceptable option, too, for cardholders who want a solid bonus and consistent cash back without worrying about rotating categories,

TD Cash Credit Card Bonus

Cardholders receive 15,000 points when they spend at least $500 within 90 days of their account opening. These points can be redeemed for $150 cash back.

Rewards Earning Details

TD lists its tiered earnings in terms of 3%, 2%, and 1% cash back on dining, grocery stores, and all other purchases respectively, but cardholders actually accumulate points, which can then be redeemed for cash. A cardholder receives three points for each eligible dollar spent when they spend on dining.

Rewards Redemption Details

Cardholders can redeem rewards by logging into tdcardservices.com. Points are worth one cent each when they're redeemed for cash, gift cards, and travel through TD’s rewards portal. Points used for other redemptions, such as for merchandise, can be worth less than one cent apiece. The minimum threshold is $25 when you're redeeming for cash back.

Transferring Points

There's no way to transfer points to partners. All travel redemption must be booked through TD's rewards portal or applied as a credit.

How to Maximize Your Rewards

Cardholders get the most from their rewards by using the card for dining- and food-related purchases because these categories have the highest earning rates. The best way to maximize the TD Cash card is to use it as a secondary card in conjunction with another cash back card that offers earnings on categories that complement TD's.

Average case

The average American household spent $3,030 on dining out in 2021. That would earn them $90.90 in cash back at the 3% rate. Spending on groceries and food at home amounted to $5,259. That’s another $105.18 at the 2% rate, bringing the total cash back to $196.08 in one year. And that’s just counting dining and grocery categories.

Aspirational case

Above-average spenders in the dining and grocery categories could benefit from combining the use of the TD Cash card with another credit card, like the American Express Blue Cash Everyday card. 

A family that spends above the average each year, such as $8,000 on groceries on groceries and $4,000 on dining out, could use the TD Cash card in addition to another card. They’d receive 3% cash back on up to $6,000 in groceries with the American Express Blue Cash Everyday card and receive 2% cash back on the remainder of their grocery spending with the TD Cash card.

The Everyday card doesn't offer extra cash back on dining so using the TD card for those purchases would allow a cardholder to earn 3% cash back on dining out. Including the extra 2% cash back for gas stations and department stores from the Everyday card would enhance this strategy.

TD Cash Credit Card's Outstanding Benefits

• Immediate card replacement at a TD Bank location

Standard Benefits

• Visa Zero Liability
• Digital wallet
• Contactless payments

Cardholder Experience

Having branch locations can enhance overall satisfaction for consumers, and TD offers branch locations. According to J.D. Power’s 2022 U.S. Credit Card Satisfaction Study, TD Bank ranks second in customer satisfaction out of 16 mid-size bank issuers.

Customers who live near a TD branch can visit to access in-person services. This can be a good choice for cardholders who like the idea of speaking with someone face to face. TD branches can immediately replace lost or stolen cards that the consumer can use right away without waiting for a new card to arrive in the mail.

Cardholders can reach customer service 24/7 at 1-888-751-9000. There's also an FAQs page available on the website that can provide useful information about common issues.

Security Features

The TD Cash card comes with Visa's Zero Liability protection. This security feature prevents cardholders from being held responsible for unauthorized purchases when they properly report breaches.

It's also possible to do contactless payments with this card, and you can add the TD Cash card to a mobile wallet.

Final Verdict

The TD Cash credit card offers fairly mediocre rewards overall. The cash bonus of $150 after spending $500 in 90 days is admittedly generous, but its other features and perks are offered by other cards, often in more enhanced versions. 

Even the 0% APR balance transfer offer isn't as bountiful as some other cards that extend offers to 18 months or beyond. Being in effect for 12 months is pretty standard, but it's often surpassed by certain issuers.

Perhaps the main perk of the TD Cash card is the ability to walk into a TD Bank branch and speak with someone in person. This is especially useful for customers who have lost a card or who have had it stolen. The immediate replacement is a bonus for those who don't want to wait to receive a new card.

The TD Cash card is generally a solid enough choice for those whose spending is concentrated mainly on dining and groceries. It also makes a great secondary card, rounding out a wallet, especially if a primary card has limits on cash back earnings.