TD Cash card review

Who is the TD Cash card for?

The TD Cash card is a solid cash back credit card that comes at no cost. With this card, you will receive 3% cash back on all dining purchases, 2% cash back at all grocery stores, and 1% cash back on all other purchases. This card also offers $150 cash back once you have made $500 purchases, which provides a nice incentive to own this card.

Alongside the cash back rewards, this card also comes with extra amenities to improve the cardholder’s experience. You will receive a lengthy 0% APR period on both balance transfers and purchases, zero liability on fraudulent charges, and instant credit card replacement if your card is lost or stolen.

We recommend the TD Cash card for people who spend a lot on dining and groceries, want cash back, and do not want to pay an annual fee. This card will give you a variety of benefits at no cost, making it a solid credit card for anyone with an excellent credit score.

Initial Rewards

Accompanying this credit card is generous cash back bonus. If you spend $500 within 90 days of the opening of the account, you will be given $150 in cash back rewards. This reward is something that you do not want to miss out on, as that would normally take you $15,000 of non-dining and non-grocery store purchases. 

Cash Back Rewards

The TD Cash card offers decent cash back rewards and it comes at no cost. Using this card, you will earn 3% cash back on dining-related purchases, 2% cash back at grocery stores, and 1% cash back on all other purchases. Although this card does not let you choose which categories to earn increased cash back on, it offers higher cash back on common purchases, allowing you to earn more without having to do any research or change your everyday spending.

One valuable aspect of this card is that the cash you earn is not capped. You are not limited in the amount of cash you can earn back, so you will receive cash back on all purchases that you make, regardless of how much earnings you already have.

Also, there are no limits to the amount of time you can hold cash back earnings in your account. TD Bank will never take away your earnings if you have had them for a certain amount of time. This allows you to save up your earnings in order to redeem them for a larger amount, which could finance a trip or something even bigger.

One problem with this cash back system is that you can only redeem your rewards if you have at least $25 worth of cash back. For example, if you need $10 more to purchase something, and you only have $11 worth of cash back rewards in your account, you will not be able to pull that money out and make a purchase. Also, it can take a while to earn $25 in cash back earnings. If you do not eat out, and you do not shop at grocery stores, this would take you $2,500 worth of spending to earn your reward. Thus, it takes a lot of money to be able to redeem your rewards and you cannot redeem when convenient in order to finance a small purchase.

Extra Perks

This card has no foreign transaction fee, making it valuable in the United States and abroad. Most non-travel credit cards come with a pesky 3% foreign transaction fee, which is a solid amount of money considering that people tend to spend more when they are out of the country. This credit card, however, gets rid of that fee, which allows you to shop comfortably while you are out of the country.

One of the greatest perks of this card is the 15 month-long introductory 0% APR period for both purchases and balance transfers. This makes this card great for transferring over your debt, allowing you to switch cards without paying a huge fee. Also, not paying interest on purchases for 15 months will save you a lot of money. We recommend that you pay for any large purchases you may have in the future during these 15 months so that you are not stuck paying a large interest fee.

After this 15 month-long introductory 0% APR period, your APR rises to either 12.99%, 17.99%, or 22.99% based on your creditworthiness. These are very normal, if not slightly low, interest fees to pay for balance transfers and purchases.

Protections and Technology

The TD Cash card comes with a variety of different protection services and technology-related features. First, this card can be used with the Digital Wallets feature. Shop easily, efficiently, and safely online using Digital Wallets once you add your TD Cash card to your mobile device.

You also receive zero fraud liability when you sign up for this credit card. You will never have to pay for any fraudulent charges that are made on your account.

Also, this card has contactless pay technology. Simply place your card on the card reader and you are good to go. Contactless pay makes shopping safer because it gives your card a one-time security code, which prevents your information from being stored.

Finally, TD bank offers instant card replacement if your card is lost or stolen. Do not worry about waiting to receive a new credit card when you cannot find yours; rather, go to your nearest TD bank, and you will instantly receive your next card.

Excellent Credit Score Needed

One thing to note about this credit card is that you will probably need an excellent credit score if you want your application to be accepted. The TD Cash card is only given to those who are super reliable with their payments and have proven that in the past.

No Annual Fee

One added benefit of this card is that there is no annual fee. Considering that you are given $150 in cash back, 0% APR for 15 months, and 1% - 3% cash back on all purchases, you are receiving a lot of rewards at no cost to yourself. With this card, you do not have to worry about paying a high annual fee to get rewards, making it even more valuable.

Conclusion

The TD Cash card provides you cash back while minimizing fees. This card has no annual fee, no foreign transaction fee, and no interest on balance transfers and purchases for 15 months, making it one of the least costly cards you can own. For people with excellent credit scores, this card is a great option for a cash back card that works anywhere.