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If you consider yourself a coffee-lover, foodie, traveller—or all of the above—this cash back card might be the perfect for your lifestyle. It offers a strong earn rate on food and travel spends. It also includes perks that offer peace of mind on your daily commutes or big vacations, like complimentary roadside assistance benefits and travel insurance. What’s more, it offers the flexibility to use your cash back when you actually need it, not on an arbitrary date like with many other cash back loyalty programs. What gives it even more of an edge is the generous welcome offer that allows you to earn 10% cash back on up to $2,000 worth of purchases for the first three months.
Should you switch over to this card? Maybe… With so many travel cards on the market, we break down the benefits and the drawbacks of this impressive cash back card, so you can see if it’ll meet your needs.
TD Cash Back Visa Infinite*
| Annual fee | $120, rebated for the first year |
| Rewards | 3% on gas, groceries and recurring bills; 1% on everything else |
| Welcome offer | 10% cash back on all purchases for the first 3 months (up to total spend of $2,000). Then, earn 6% cash back on gas and grocery purchases, and pre-authorized payments for the first 3 months (up to a total spend of $3,500). Must apply online before September 5, 2022. |
| Income requirement | $60,000 individually or $100,000 as a household |
| Interest rates | purchases 20.99%, cash advances 22.99% |
| Best features | Strong rewards on major household expenses, complimentary roadside assistance membership, and flexible, any-time cash back redemption |
| Who it’s best for | Families, car owners and people who already bank with TD |
Get more details about the TD Cash Back Visa Infinite*
8 benefits of the TD Cash Back Visa Infinite
1. This card offers strong earn rates in major spending categories
Like most cash back cards, the TD Cash Back Visa Infinite offers different earn rates in different categories. Gas, groceries and recurring bills earn a substantial 3%. That’s impressive, considering these categories are what most people tend to use their credit cards on generally. Also, you get rate of 1% on all other purchases. For context, most cash back cards tend to offer 0.5% on everything else.
What does this translate to in real life? A family using the TD Cash Back Visa Infinite to purchase a monthly average of $750 in groceries, $200 on gas and $125 on recurring bills will get back around $385 annually on those three categories alone. And that’s on top of the 1% back for all other purchases. Simply put, you can easily earn back the annual fee and then some.
2. It has a competitive welcome offer
New cardholders are welcomed with a noteworthy offer. Earn 10% cash back on all purchases for the first 3 months (up to total spend of $2,000) when you apply for the card online. After that continue to earn 6% cash back on gas and grocery purchases, and pre-authorized payments for the first three months (up to a total spend of $3,500). Must apply before September 5, 2022. Quebec residents, please click here.
Plus, when TD credit card holders refer friends and family for an eligible TD credit card, they can earn a $100 e-gift card when their application is approved. You can earn up to 3 e-gift cards (a $300 value) within the offer period, which ends May 29, 2022.
3. You’ll get free roadside assistance
Cardholders are automatically enrolled as Deluxe members in the TD Auto Club, which entitles them to complimentary roadside assistance services. This coverage is 24/7 and designed for roadside emergencies like dead batteries, flat tires or breakdowns. As a Deluxe member, you’ll have access to a tow to the nearest service centre (up to 200 kilometres), emergency transportation and even financial reimbursement for food, and rest expenses up to $200 in case you’re stranded due to a vehicle-related issue. Similar assistance packages typically cost between $69 and $100 on a stand-alone basis.
4. You can use your cash back any time
Some cash back credit cards offer reimbursement on a fixed schedule—usually once per year, on a specific month’s statement. While it’s nice to have it that money at all, it’s handy to have your cash back when you decide, like before the holidays or for a vacation. With the TD Cash Back Visa Infinite, you can access your funds when you need them, with no time restrictions (though a minimum of $25 must be redeemed).
5. You’ll get travel insurance benefits
Travel insurance is one of the most attractive perks a card can carry, saving cardholders then hassle and money of buying stand-alone coverage. With the TD Cash Back Visa Infinite, you’re protected up to $2 million for medical emergency insurance for trips of up to 10 days (if you or your spouse is aged 65 or older, you are covered for the first four days). And you’re covered for delayed or lost baggage costs. These aren’t the most comprehensive travel insurance benefits around, even when compared to other cash back cards. For a credit card that’s not a travel card, though, it’s not a bad offering.
6. The advantage of bundling accounts
Since this card is from TD, a big bank, it may be a good fit for those who want to keep all their accounts with a single institution—and there may well be benefits to doing so. For example, TD members with an All-Inclusive Chequing Account holding a minimum balance of $5,000 at all times can have the both the card’s $120 annual fee along with everyday banking fees rebated each and every year. Note, though, if the balance in your All-Inclusive Chequing Account dips below $5,000, you’ll owe a $30 monthly account fee.
7. Cash back dollars never expire
As long as your account is open and in good standing, your cash back dollars will remain useable.
8. You can earn Starbucks Rewards
If you’re a Starbucks regular, you may have just struck…dark roast. Not only can you redeem TD points for stars at Starbucks, but you’ll earn 50% more stars when you link your TD card to your Starbucks rewards account as a payment method.
How much cash back can you earn with the TD Cash Back Visa Infinite?
The TD Cash Back Visa Infinite has some healthy earn rates. But what do the rewards look like in real-dollar terms? To give you an idea, we ran the numbers using an estimated monthly spend in each category as an example. Your exact totals will depend on your actual spending habits.
| Bonus Categories | Monthly Spend | Annual Rewards |
| Groceries (3%) | $500 | $180 |
| Recurring bills (3%) | $200 | $72 |
| Gas (3%) | $125 | $45 |
| Everything else (1%) | $1,000 | $120 |
Based on this scenario, you could earn $417 in cash back every year—or, $297 after deducting the annual fee. This cash back reward is on top of other valuable benefits, like the complimentary roadside assistance, which would normally cost $69 to $100 annually, and the included travel insurance. Not to mention, in your first year, you receive a rebate on the $120 annual fee and can earn up to $200 in bonus cash back.
Apply for the TD Cash Back Visa Infinite*
Are there any drawbacks to the TD Cash Back Visa Infinite?
The spending categories have caps
One of this credit card’s major perks is the competitive earn rate it boast on gas and grocery purchases. However, there is a caveat: the 3% cash back is subject to a $15,000 spending cap for the year, at which point, you’ll only earn 1% on gas and grocery spending. If you spend a lot in these categories, you might want to consider another card, or supplement your spending with another rewards card that offers more than 1% after you meet that cap.. The recurring bill payment category also comes with a $15,000 limit, and then moves to 1% cash back, as well.
It has an income requirement
Plus, the TD Cash Back Visa Infinite has a minimum annual income requirement of $60,000 (or $100,000 for the household), meaning it’s not accessible to a large number of Canadians. If you don’t hit the requirement, consider another great cash back card with lower or no income requirements, like the Tangerine Money-Back Credit Card or SimplyCash Preferred from American Express*.
TD Cash Back Visa Infinite alternatives
While it earns a strong 3% across the board on groceries, gas and recurring bills, there are some alternatives that earn more in certain categories. Depending on your spending habits, you might want to consider these alternatives. There are some competitive cash back card alternatives out there as well. Notably, the CIBC Dividend Visa Infinite offers 4% on gas and groceries. And the Scotiabank Momentum Visa Infinite offers 4% on groceries and recurring bills. Additionally, TD’s travel insurance benefits aren’t as comprehensive as they could be, though the roadside assistance does sweeten the deal.
| Scotia Momentum Visa Infinite | CIBC Dividend Visa Infinite | SimplyCash Preferred from American Express | |
| Groceries | 4% | 4% | 2% |
| Gas | 2% | 4% | 2% |
| Recurring bills | 4% | 1% | 2% |
| Public transit | 2% | 1% | 2% |
| Everything else | 1% | 1% | 2% |
| New mobile device coverage | Yes | No | No |
Scotia Momentum Visa Infinite*
The Scotia Momentum Visa Infinite gets you 4% back on groceries and recurring bills, and 2% on public transit. However, it does lag behind the TD CashBack Visa Infinite on one category that’s a big credit card purchase for many: gas. You get only 2% back, and it doesn’t include the complimentary roadside assistance benefits instead offering new mobile device insurance. Also, this Scotia credit card only lets you redeem your cash back once per year, while TD lets you redeem any time of the year.
CIBC Dividend Visa Infinite*
The CIBC Dividend earns 4% on groceries and bills, beating out the TD Cash Back Visa Infinite in two key categories. That said, this credit card earns no bonus rewards for recurring payments (1%), which makes a big difference when factoring using the card to pay for monthly bills like cable and smartphone plans. Plus, it also lacks the roadside assistance coverage, a valuable feature of the TD Cash Back Visa Infinite.
SimplyCash Preferred from American Express*
The SimplyCash Preferred from American Express carries a lower annual fee ($99) than the TD card ($120). And it has a flat rate of 2% cash back on everything else you buy using this card. Depending on your spending habits, the flat-rate structure may work better than higher rates in select categories. Note, though, that as an American Express card, it isn’t as widely accepted as a Visa, and the cash back is redeemed only once per calendar year.
Bottom line
The TD Cash Back Visa Infinite is a super-strong contender in the cash back category, especially for families with one or more car commuters.
This article was first published on March 23, 2020. It was last updated on March 31, 2022.
Apply for the TD Cash Back Visa Infinite*
More on credit cards:
- The best American Express cards in Canada
- Canada’s best credit cards for gas
- Canada’s best credit cards for grocery purchases
- Best cash back credit cards
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