Looking for a premium credit card that pays real cash back on your everyday spending? The TD Cash Back Visa Infinite card is worth looking at.
Starting with a welcome 10% cash back in your first 3 months and up to 3% after, this card is easily one of the best credit cards in Canada for groceries, gas purchases…and recurring bill payments.
This TD Cash Back Visa Infinite Card review covers what you need to know about its benefits and downsides.
TD Cash Back Visa Infinite At a Glance
TD Cash Back Visa Infinite Card
Excellent cash back credit card
Annual fee: $139
Rewards: Earn 3% cash back on high-spend categories.
Interest rates: 20.99% on purchases and 22.99% on cash advances.
Minimum income requirement: $60,000 personal or $100,000 for household income
Recommended credit score:
Good
On TD’s website
TD Cash Back Visa Infinite Card Benefits
This cash back card from TD offers a host of benefits to cardholders, including:
1. Earn 3% cash back on grocery and gas purchases and on recurring bills. There is a $15,000 cap on each of these categories per year. A 1% cash back applies after the annual spending cap is reached.
2. Earn an unlimited 1% cash back on all other purchases made with your card.
3. Redeem your cash back at any time as long as your balance is up to $25.
4. Enjoy free roadside assistance via a Deluxe TD Auto Club membership with 24/7 emergency road services.
5. Travel benefits include travel medical insurance (up to $2 million coverage), delayed and lost baggage (up to $1,000), and emergency travel assistance services.
6. Car rental insurance with coverage for up to 48 consecutive days.
7. Access to the complimentary Visa Infinite concierge service and other Visa Infinite perks.
8. Purchase security for 90 days and extended warranty coverage.
9. Discounts on car rentals at participating AVIS and Budget car rental locations.
Downsides of the TD Cash Back Visa Infinite
This card has a $120 annual fee tag, although it is waived in the first year.
You could avoid paying any annual fees on the card if you have a TD All-Inclusive Bank Account.
Also, you will need to have a personal income of $60,000 (or $100,000 household income) to be eligible.
Is The TD Cash Back Visa Infinite For You?
The TD Cash Back Visa Infinite ranks well among cash back credit cards; however, it does not top the list.
If you’d rather not pay for a cash back credit card, the Tangerine Money-Back Card pays an unlimited 2% cash back on these spending categories and has no annual fee.
Tangerine Money-Back Credit Card
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
You could also check out the Tangerine World Mastercard, which offers a similar 2% earn rate and comes with free mobile device insurance, car rental insurance, and travel benefits.
Both Tangerine cards currently offer a $100 welcome bonus.
Tangerine World Mastercard
Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases; VIP perks.
Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value).
Interest rates: 19.95% for purchases, balance transfers, and cash advances.
Annual fee: $0
If you want a premium cash back card with other perks, the Scotiabank Momentum Visa Infinite is worth checking out.
Scotiabank Momentum Visa Infinite Card
Rewards: Earn 4% cashback on groceries & recurring bills; 2% cashback on gas & daily transit; 1% cashback on everything else.
Welcome offer: Earn 10% cashback in the first 3 months on up to $2,000 spent ($200 value).
Interest rates: 20.99% on purchases; 22.99% on cash advances.
Annual fee: $120
If roadside assistance is your main need, you can check out the Triangle World Elite Mastercard. This card has no annual fee.
Overall, my TD Cash Back Visa Infinite Card review is positive.
When you combine the 3% cash back rewards on groceries, gas, and recurring bill payments offered by the TD Cash Back Visa Infinite and its complimentary roadside assistance and travel benefits, it does pay off the annual fee even for light spenders.
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