TD Cash Credit Card Review

The TD Cash Credit Card is a straightforward cash back rewards credit card with no annual fee and a rewards program that favors cardholders who like to dine out often. It earns unlimited 3% cash back on all eligible dining purchases, unlimited 2% cash back on eligible grocery store purchases, and unlimited 1% cash back on all other eligible purchases, with redemption options ranging from hard cash (statement credits only) to gift cards, general merchandise, and travel.

The TD Cash Credit Card also has a solid, easily attainable sign-up bonus worth $150, plus a 0% APR balance transfer promotion that lasts for 12 months from account opening. With no foreign transaction fees, it’s also a strong choice for people who regularly travel outside the United States, but who don’t want or need travel rewards credit cards – many of which charge annual fees.

Key Features

Sign-up Bonus

When you spend at least $500 within the first 90 days of opening your account, you get a $150 cash back bonus.

Earning Cash Back

The TD Cash Credit Card earns unlimited 3% cash back on all eligible restaurant and dining purchases, unlimited 2% cash back on all eligible grocery store purchases, and unlimited 1% cash back on all other eligible purchases.

Redeeming Cash Back

Once you accumulate at least $25 in cash back, you can redeem for a variety of options, including statement credits, gift cards, travel, and general merchandise. Points are worth $0.01 apiece when redeemed for cash equivalents, gift cards, and travel. General merchandise redemptions’ point values are more variable, and special promotions on merchandise may push up redemption temporarily on specific items.

Important Fees

There is no annual fee or foreign transaction fee.

Introductory APR

This card comes with a 0% APR on balance transfers for 15 months following your account opening date and 0% APR on purchases for 6 months following account opening. After the respective 0% APR promotions end, variable regular APR applies.

Free VantageScore Credit Score

This card comes with a free VantageScore credit score on your statement and in your online account portal. It also has a host 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. Any notable blemishes in your credit history are likely to reduce your chances of approval.

Advantages

1. No Annual Fee. The TD Cash Credit Card has no annual fee, which is great news for frugal cardholders who don’t want to pay a recurring charge for the privilege of earning up to 3% cash back on select purchases.
2. Solid, Easily Attainable Sign-up Bonus. This card’s $150 sign-up bonus is attainable with only $500 in spending over 90 days. That is well within reach of most consumers, especially those who use TD Cash as their primary credit card.
3. Unlimited 3% Cash Back on Dining. The TD Cash Credit Card earns unlimited 3% cash back on restaurant purchases. If you dine out frequently, or sometimes forget to bring your lunch to work and need to grab something at the local sandwich shop or salad bar, this is a welcome benefit that can make all the difference in your decision to apply for this card.
4. Nice Introductory Balance Transfer Promotion. This card’s 15-month 0% APR balance transfer promotion is great for cardholders dealing with existing high-interest credit balances on other cards. Even if the cash back earning rates don’t pique your interest, TD Cash should be somewhere on your list of balance transfer candidates.
5. Unlimited 2% Cash Back on Grocery Store Purchases. This card earns unlimited 2% cash back on grocery store purchases. It’s pretty rare to come across a cash back card that rewards eating out and eating in, so this one’s a keeper for gastrophiles of all stripes.
6. No Foreign Transaction Fee. Frequent overseas travelers love the fact that this card has no foreign transaction fees. That’s somewhat unusual for no-annual-fee cash back cards, and a welcome juxtaposition with many popular alternatives.

Disadvantages

1. $25 Minimum Redemption Threshold. You can’t redeem your accumulated cash back until you reach at least $25 in earnings. If you don’t spend heavily, and thus don’t earn rewards very quickly, this can take months. Some competing cards, such as Chase Freedom Unlimited and Discover it, allow you to redeem cash back in any amount.
2. Mediocre Baseline Cash Back Earnings. This card’s unlimited 1% cash back earnings on all non-dining, non-grocery purchases is better than nothing, but it’s not particularly attractive when compared to the newer crop of flat-rate cash back cards. For example, Capital One QuicksilverOne Cash Rewards Credit Card earns a flat 1.5% back on all purchases, while Citi Double Cash Card earns 2% cash back.
3. High Cash Advance Fees. TD Cash has unusually high cash advance fees – 5% of the advanced amount. That’s a problem for cardholders who need to perform these transactions on occasion.

Final Word

The TD Cash Credit Card is a great choice for people who live in areas served by TD Bank, even if they don’t already bank with the company. But if you decide not to move forward with your application, don’t worry. There are plenty of comparable – and, in some cases, superior – cash back credit cards available to applicants from all over the United States. Your ideal cash back card is out there, as long as you’re willing to look for it.

Do you plan to apply for this credit card?