The best TD credit cards in Canada 2020

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Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s most storied big five banks. It offers a wide array of financial services including an impressive portfolio of more than two dozen credit cards. We break down the best TD credit cards in Canada into five categories so whether you’re looking for cash back, flexible travel points, a co-branded travel card, no-fee cash back, or low interest, you’ve got the inside information to make your choice. 

The best TD cash back credit cards 2020

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Best credit card for cash back:

TD CashBack Visa Infinite*

The TD CashBack Visa Infinite’s main draw is its strong 3% return in three very popular spending categories, groceries, gas, and recurring bill payments. This, along with the base 1% rate that applies to everything else, makes it one of the highest-earning cash back cards in Canada. Even better, your cash back never expires and you can redeem it (in $25 increments) whenever you want. 

This card also comes with a few notable perks, including up to $2 million in travel medical insurance on trips of up to 10 days and delayed or lost baggage protection. Drivers will be interested in the included deluxe membership in TD Auto Club (a value of $79), rental car collision/loss damage protection, and discounts for car rentals at Budget and Avis. As a Visa Infinite card, it gets you perks like Concierge and access to luxury events like Food and Wine Experiences. 

• Annual fee: $120
• Welcome bonus: Earn 10% cash back for the first 3 months up to a total spend of $2,000 ($200 in rewards), plus get a first-year annual fee waiver for the primary and additional cardholders. Welcome offer available until September 8, 2020.
• Earn rate: 3% cash back on eligible grocery and gas purchases, and on recurring bill payments; 1% cash back on everything else
• Additional benefits: Up to $2 million in travel medical insurance (up to 10 days); auto rental collision/loss damage protection; deluxe membership in TD Auto Club; savings at Avis and Budget; Visa Infinite perks including food and wine experiences and concierge
• Income requirement: $60,000 individual or $100,00 household

Get more details about the TD CashBack Visa Infinite*

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Best credit card for flexible travel points:

TD First Class Travel Visa Infinite* 

Thanks to the partnership between TD and Expedia, you can redeem TD points you collect on the TD First Class Travel Visa Infinite for virtually anything travel-related including hotels, vacation packages, and flights—on any airline, hotel, or travel provider listed on of the world’s largest travel comparison site. That flexibility put this on our best TD credit cards list.  

With this card you’ll get 9 TD Points per dollar (4.5% in travel rewards) on purchases from ExpediaForTD.com and a flat 3 points per dollar (1.5% in travel rewards) on everything else. Redemptions on ExpediaforTD.com are super straightforward: 200 TD Points are worth $1, or, put another way, 1 Point = 0.5 cents. Spend frequently or save up—your points never expire. You can redeem points for travel outside of ExpediaForTD or for merchandise or gifts, but be aware that you’ll get less value out of your points this way. 

Perks include comprehensive travel insurance benefits, automotive coverage and discounts, and Visa Infinite privileges.

• Annual fee: $120
• Welcome bonus: Receive 20,000 TD Points (which have a travel value of $100) when you make your first purchase, plus get a first-year annual fee waiver for the primary and additional cardholders. Welcome offer available until September 8, 2020.
• Earn rate: 9 TD Points per dollar spent at ExpediaForTD.com and 3 TD Points per dollar spent on everything else
• Additional benefits: Up to $1 million in travel medical insurance (up to 21 days), plus trip cancellation and interruption, common carrier accident, and delayed and lost baggage protection; Priority Pass membership discount; auto rental collision/loss damage protection and savings at Avis and Budget; Visa Infinite perks including food and wine experiences and concierge
• Income requirement: $60,000 individual or $100,00 household

Get more details about the TD First Class Visa Infinite*

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Best airline credit card:

TD Aeroplan Visa Infinite*

If you fly Air Canada (or any of their numerous Star Alliance partners), this card could be just the ticket. Not only will you earn 1.5 miles per dollar on groceries and gas and at drugstores, but also twice the miles at Aeroplan partners or online from the Aeroplan eStore. Plus, you get Miles at a rate of 1 per dollar spent everywhere else. 

We admit that Aeroplan isn’t the simplest rewards program out there, but if you’re strategic and use the Aeroplan Miles chart, you can travel further using fewer miles and maximize your rewards. You’ll receive Air Canada benefits, like one free checked bag, on flights booked with Miles, plus other valuable travel-related perks like comprehensive insurance, one annual pass to Air Canada Maple Leaf Lounges and Visa Infinite privileges. 

• Annual fee: $120
• Welcome bonus: Receive 15,000 Aeroplan miles when you make your first purchase, plus get a first-year annual fee waiver for the primary and first additional cardholder. Welcome offer available until September 8, 2020.
• Earn rate: 1.5 miles for every dollar spent on groceries, gas, and drugstore purchases or at aircanada.com, 1 mile per dollar on everything else
• Additional benefits: Air Canada benefits including one free checked bag, priority check-in and boarding, and one annual visit to the Maple Leaf Lounge—available when you use an Aeroplan Flight Reward; up to $1 million in travel medical insurance (up to 21 days), plus trip cancellation and interruption, common carrier accident, and delayed and lost baggage protection; Visa Infinite perks
• Income requirement: $60,000 individual or $100,00 household

Get more details about the TD Aeroplan Visa Infinite*

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Best no fee cash back (and student) credit card:

TD CashBack Visa*

For those looking for a no-fee cash back card, there’s the TD CashBack Visa. When you spend with this card you’ll earn 1% back on groceries, gas, and recurring bills, and 0.5% on everything else. The perks are lean—expect purchase security and extended warranty—but like other TD cards, your cash back never expires and you can redeem it whenever you want (in $25 increments).

It’s important to note that when it comes to simple math, this is not the best no-fee credit card out there. The Tangerine Money Back is a better choice, offering up to 2% back on up to three spending categories. That said, new applicants are eligible for a sweet $25 bonus when they keep their account in good standing for 90 days. 

• Annual fee: $0
• Welcome bonus: Earn $25 when you open an account and keep it in good standing for 90 days. Welcome offer available until September 8, 2020.
• Earn rate: 1% cash back on eligible grocery and gas purchases, and on recurring bill payments; 0.5% cash back on everything else
• Additional benefits: Purchase security and extended warranty; savings at Avis and Budget 
• Income requirement: None

Get more details about the TD CashBack Visa*

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Best low-interest credit card:

TD Emerald Flex Rate Visa

If you tend to carry a balance, you can mitigate interest charges by using a low interest credit card. Enter the TD Emerald Flex Rate Visa. For only $25 annually, you get a below-average interest rate. Just how low depends on the prime rate and your credit history, but TD Prime + 4.5% to 12.75% is sure to beat out regular cards. As of March 30, 2020, TD’s Prime Rate is 2.45%, so your rate could be as low as 6.95% up to 15.2% on the high end. One note: It doesn’t come with a balance transfer offer, a perk offered by many other popular low-interest credit cards.

• Annual fee: $25
• Welcome bonus: None
• Earn rate: None
• Additional benefits: Purchase protection and extended warranty; savings at Avis
• Income requirement: None

And that is the end of our best TD credit cards in Canada. Whether you’re looking to earn points, get cash back, travel, or save on interest, TD Bank has an option for you.

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Summary

Canada’s best Aeroplan credit cards

Credit card	Best	Annual fee
TD CashBack Visa Infinite	Cash back credit card	$120
TD First Class Visa Infinite	Flexible points card	$120
TD Aeroplan Visa Infinite	Airline travel card	$120
TD CashBack Visa	No fee rewards card	$0
TD Emerald Flex Rate Visa	Low APR card	$25

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MORE ON TD CREDIT CARDS:

• TD CashBack Visa Infinite review
• TD First Class Visa infinite review
• Best Aeroplan credit cards in Canada

The post The best TD credit cards in Canada 2020 appeared first on MoneySense.

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