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 great fit for you. The TD Cash Card works like most cash-back credit cards in that it’s simple to earn and redeem rewards. 

However, this card is only offered in 16 states (plus the District of Columbia), so you can only be approved if you live in those locations (more about this below).

• Easy-to-earn sign-up bonus: The current offer isn’t the best you can get from a no-annual-fee cash-back card right now, but we like that it’s easy to earn. You only have to spend $167 per month for three months after opening your account to put $150 back in your wallet as a sign-up bonus.
• 0% introductory rate for purchases and balance transfers: If you have a nagging balance on another card that you’d like to tackle or a large purchase to finance, the TD Cash Card gives you 15 months to do either without paying interest. This promotional APR offer is in line with or better than similar cash-back card deals on the market today.
• No foreign transaction fee: If you’re someone who travels abroad, this can be a tie-breaking benefit to consider when comparing card offers. Many other cash-back cards charge foreign transaction fees of up to 3% on each overseas purchase. 

• 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 extra points on warehouse club or superstore purchases: 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 15,000 points, which is equivalent to $150 in cash back. This is a pretty typical offer for a no-annual-fee cash-back card, but not the most valuable available right now. 

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. You’ll earn 3% cash back on dining purchases, 2% back at grocery stores, and then 1% back on everything else. With this card, cash back is awarded as points, and each point is worth 1 cent. 

So, if your budget includes spending $100 a week on dining out, $150 a week on groceries, and then you use the card for another $125 in miscellaneous expenses each week, that spending will earn you $527 in cash back in the first year (when adding in the $150 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.