TD Cash Card Review

If you find that a lot of your credit card spending is done at restaurants or supermarkets, and you want to earn some cash back, this card could be a worthy fit for your wallet. The TD Cash Card works like most cash-back credit cards in that it’s simple to earn and redeem rewards. This particular card stands out, however, because its sign-up bonus is higher than what typical cards in this category offer.

If you have "fair" to "excellent" credit, you may qualify for this card, and it’s a solid choice if you’re looking for a cash-back card.

• Large sign-up bonus: Among cash-back cards, it’s difficult to find a better sign-up bonus for a $500 minimum spend; most bonuses for cards without an annual fee are $150, but this one is $200. 
• 0% introductory rate on balance transfers: If you have a nagging balance on another card that you’d like to tackle, the TD Cash Card gives you 12 months to do so without paying interest.
• No foreign transaction fee: If you’re someone who travels abroad, this can be a tie-breaking benefit to consider since it will save you between 1% and 3% on all foreign purchases. 

• Limited availability: Currently, the TD Cash credit card is only available for customers in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia, and Washington, D.C.
• No promotional introductory rate for purchases: If you’re looking for some wiggle room on a big upcoming purchase you need to make, the TD Cash Card’s lack of a 0% introductory period on purchases might steer you toward a different product instead.
• No extra points at warehouse clubs or superstores: Purchases from superstores and/or warehouse clubs don’t count as “grocery stores” and may only earn 1% cash back. That’s something to consider if the bulk of your shopping takes place at Walmart, Target, or Costco.

Spend $500 within three months of account opening to get 20,000 points, which is equivalent to $200 in cash back. Most cash-back cards without an annual fee only give a $150 sign-up bonus for the same spend, so you’ll be getting an additional $50 right off the bat with the TD Cash Card. 

Expect your bonus to show up in six to eight weeks after you meet the spending requirement.

 The TD Cash Card is a solid product that offers higher rewards for food and grocery-related spending. When compared to the other major dining-focused, no-fee cash-back card on the market, you’ll be missing out on that card’s potential 3% back on entertainment purchases. But if that’s not a big area of spending for you, the TD Cash Card is the winner for its overall value–especially given its higher sign-up bonus and lack of foreign transaction fee. 

If your budget includes spending $100 a week on dining out, $150 a week on groceries, and then you use the card for another $500 in miscellaneous expenses each month, that spending will earn you $548 in cash back in the first year (when adding in the $200 sign-up bonus). 

The beauty of the TD Cash Card is you don’t have to do any number crunching–the value of your points is 1 cent per point when you redeem. For cash back, you must accumulate at least 2,500 points ($25) to redeem as either a statement credit or direct deposit into a U.S. checking or savings account.

Points may also be used toward gift cards, travel, or merchandise. If you decide to use points for merchandise, that’s the one option for which your points may be worth less than 1 cent each, so shop carefully.

To maximize the rewards with cash-back cards in general, simply use them for the spending you’d do anyway, especially in the bonus categories. In other words, don't spend more than you normally would just to earn rewards.

The TD Cash Card is no exception, especially if you normally spend more on dining out and grocery shopping than on other types of expenses, since you’ll earn extra points for those categories. 

To get a boost in points right away, meet the minimum spend required in the first three months to earn the sign-up bonus. From there, aim to pay your balance in full each month, so finance charges don’t wipe out what you’ve earned.

Although TD Bank isn’t listed in J.D. Power’s credit card customer satisfaction survey, it earns average ratings for customer satisfaction with its banking mobile app, and ranks third out of 22 companies for its U.S. online banking experience. 

You can reach customer service through a 24/7 hotline. You can also access a free VantageScore and credit education tools when logging in to TD Bank Online Banking.

The TD Cash Card has standard security features, including Visa’s “Zero Liability Policy,” meaning you’re not responsible for 1 cent of any fraudulent charges placed on your card if you report it quickly. If your card is lost or stolen, you can get an immediate replacement at a TD Bank branch; however, TD branches are only located in limited areas.   

The TD Cash Card has the typical fees you’d find among similar cards, but since there is no annual fee or foreign transaction fee, other fee-based costs can be avoided with responsible credit use.