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The TD Ameritrade Client Rewards Card is a cash back credit card with no annual fee and a flat, unlimited 1.5% cash back rate on all purchases. Though it’s open to everyone, it’s designed for TD Ameritrade brokerage clients, who can boost their cash back earnings by 10% when they redeem directly into their brokerage accounts – turning $300 in cash back into $330, for example. Cash back earnings accrue as Client Rewards points. They’re worth $0.01 apiece when redeemed for cash.

The TD Ameritrade Client Rewards Credit Card doesn’t have an introductory APR promotion, but it does have a nice sign-up bonus that should be easy for most new cardholders to attain. If you’re in the market for a straightforward, consumer-friendly cash back card, this product is definitely worth a closer look – even if you’ve never banked with TD before.

Key Features

Sign-up Bonus

You get 10,000 Client Rewards points (worth $100 when redeemed for cash back) when you spend at least $500 within the first 3 months of opening your account.

Earning Cash Back

The TD Ameritrade Client Rewards Credit Card earns unlimited 1.5% cash back all purchases, with no caps or restrictions. Cash back earnings accrue as Client Rewards points at the rate of 1.5 points per $1 spent.

Redeeming Cash Back

Once you accumulate at least 2,500 Client Rewards points, you can redeem for statement credits, direct deposits, mailed checks, gift cards, travel, and general merchandise. When redeemed for cash back (statement credits, direct deposits, and mailed checks), points are worth $0.01 apiece. Redemption rates may vary on other redemption methods, and can sometimes be significantly less than $0.01 apiece.

10% Bonus on TD Ameritrade Account Redemptions

When you redeem your Client Rewards points into your TD Ameritrade account, you get a 10% bonus on the entire redemption. For instance, a 10,000-point redemption, normally worth $100, is worth $110 when deposited as cash into your TD Ameritrade account. To take advantage of this option, you must have an open TD Ameritrade account in good standing. TD Ameritrade accounts come in many different forms, including individual, custodial, IRA, and more.

It’s important to note that redemptions into certain tax-advantaged accounts, such as IRAs, may involve adverse tax consequences. Check with a tax professional or financial advisor before redeeming into such accounts.

Important Fees

There is no annual fee to carry this credit card. The foreign transaction fee is 3%. Balance transfers cost the greater of $5 or 3% of the transferred amount, while cash advances cost the greater of $10 or 5%. Late and returned payments cost up to $35.

Free VantageScore Credit Score

Your account includes a free VantageScore credit score each month. You can view it on your paper or digital account statement, and in your online account portal. This card also comes with a slew of free credit education tools that you can use to get a better sense of how to use credit responsibly.

Credit Required

This card requires good to excellent credit. If you have any substantial blemishes in your credit history, you may struggle to qualify.

Advantages

1. No Annual Fee. The TD Ameritrade Client Rewards Credit Card has no annual fee, meaning there’s no downside to keeping it in your wallet for occasional use. Some higher-end cash back cards, such as Blue Cash Preferred from American Express, do charge recurring fees.
2. 10% Bonus on TD Ameritrade Account Redemptions. When you redeem your Client Rewards points into your TD Ameritrade account, you get a 10% bonus. On a $200 redemption, that’s an extra $20 to spend or invest. There’s no limit to the size of each individual bonus or the number of bonuses you can earn over time.
3. Unlimited 1.5% Cash Back on Every Purchase. The TD Ameritrade Client Rewards Credit Card earns unlimited 1.5% cash back (1.5 Client Rewards points per $1 spent) on every purchase, every day, with no caps or restrictions. That’s equivalent to Capital One Quicksilver Cash Rewards Card’s earning rate, and significantly better than the baseline earning rate available with popular alternatives such as Chase Freedom.
4. Easily Attainable Sign-up Bonus. This card’s $100 sign-up bonus (worth $110 when redeemed into a TD Ameritrade account) requires just $500 in spending over 3 months. If your TD Ameritrade Client Rewards Credit Card is your primary credit card, it should be relatively easy for you to reach this goal with time to spare.
5. Free Credit Score With Your Account. Every month your account remains open, you get a free VantageScore on your statement and in your online account dashboard. This is a great way to keep track of your credit over time, and is especially useful if you’re in the process of rebuilding your credit.
6. No Penalty APR. This card does not charge a penalty APR. That’s great news for cardholders who occasionally miss payments due to liquidity issues or other problems. Some competing cards charge penalty APRs as high as 30% and keep them in force indefinitely.
7. No Foreign Transaction Fee. This card has no foreign transaction fee. If you routinely travel outside the United States, this is no doubt music to your ears. Most competing no-annual-fee cash back cards charge 2% to 3% on foreign transactions, more than offsetting their net rewards rate.

Disadvantages

1. $25 Minimum Redemption Requirement. Before you can redeem for cash, merchandise, or other goodies, you need to accumulate at least 2,500 Client Rewards points. If you only use this card occasionally, it could take months to accumulate that many points. Some other cash back cards are friendlier to lighter spenders – for instance, the Discover it family of credit cards (including the ever-popular NHL Discover it Card) lets you redeem cash back in any amount.
2. No Introductory APR Promotion. This card doesn’t offer 0% APR introductory promotions on purchases or balance transfers. This is a significant disadvantage to other cash back cards, including TD’s own Cash Visa, which has a 12-month 0% APR balance transfer deal.
3. High Cash Advance and Balance Transfer Fees. The TD Ameritrade Client Rewards Credit Card’s balance transfer and cash advance fees are on the high side – up to 4% or $10 for the former, and 5% or $10 for the latter. This is problematic for cardholders who need to perform these transactions on occasion, especially considering that there’s no introductory APR balance transfer promotion.

Final Word

Though it’s available to the general public, theTD Ameritrade Client Rewards Card is designed for TD Ameritrade brokerage customers. If you have ample personal savings for emergencies and unexpected expenses, but haven’t yet begun investing for long term, perhaps it’s time to think about opening a traditional or tax-advantaged brokerage account. In the grand scheme of things, a 10% cash back bonus isn’t much – but when it comes to investing for an uncertain future, every little bit helps.