If you’re on the lookout for a credit card that combines rewards with practical benefits, the TD Cash Back Visa Infinite Card could be your ideal choice. Whether you’re filling up your car, shopping for groceries, or paying your monthly bills, this card lets you earn cash back with every purchase.
The sleek design, crafted from 90% recycled plastic, offers an eco-friendly touch, but its true value lies in its impressive perks. But what really sets this card apart is the ability to earn up to 3% cash back on key spending categories like groceries, gas, and recurring bill payments.
Even better, there’s no need to wait until the end of the year to redeem your cash back—you can use it whenever you want, offering total flexibility. So, let’s dive into what makes this card stand out in more detail.
Main features of the TD Cash Back Visa Infinite Card
At its core, the TD Cash Back Visa Infinite Card is issued by TD Canada Trust, one of the leading financial institutions in Canada. Known for its commitment to offering reliable banking solutions, TD ensures that this card caters to a wide demographic, primarily targeting individuals with moderate to high income levels.
This card isn’t just about cash back, though. TD has designed it to appeal to a broad audience, from frequent travelers to those who appreciate added automotive services. It’s also packed with security features like Visa Secure and extended warranty protections. If you’re someone who enjoys balancing practicality with luxury, this card has a little something for everyone.
Understanding the annual fee
While many credit cards out there come with high annual fees for premium benefits, TD offers a balanced approach with the TD Cash Back Visa Infinite Card. The annual fee sits at a reasonable $139, which can be waived for the first year if you meet certain conditions. For example, simply activating your card and making a purchase within the first three months will have the fee rebated for that year.
Deciphering credit limits
When it comes to credit limits, TD doesn’t have a one-size-fits-all approach. Instead, the limit on your TD Cash Back Visa Infinite Card is determined based on several personal factors, giving the bank a holistic view of your financial standing.
Your annual income is one of the most critical aspects, with applicants needing a personal income of at least $60,000 or a household income of $100,000 to be considered. However, it doesn’t stop there. TD also takes into account your credit score, previous credit history, and current financial obligations when determining the final limit.
It ensures that the amount offered aligns with your ability to repay and manage credit responsibly. This way, TD offers tailored credit limits that meet individual needs without overwhelming the cardholder.
Advantages of the TD Cash Back Visa Infinite Card
- 3% Cash Back: Earn 3% cash back on gas, groceries, and recurring bill payments, such as utilities or insurance premiums.
- 1% Cash Back: All other purchases qualify for 1% cash back, allowing you to benefit from every swipe of the card.
- Mobile Device Insurance: Up to $1,000 of coverage in case your phone is damaged, lost, or stolen.
- Emergency Roadside Assistance: Access to 24/7 emergency services through the Deluxe TD Auto Club.
Standout advantage
The key differentiator of the TD Cash Back Visa Infinite Card lies in its ability to offer 3% cash back on major spending categories like groceries, gas, and recurring bills. Most cash back cards max out at 1% to 2% for similar purchases, so this higher rate can really add up over time—especially for households with significant monthly expenses in these areas.
Addressing potential drawbacks
- Annual Income Requirement: The card has a high minimum income requirement of $60,000 for individuals or $100,000 for households, which may exclude some potential applicants.
- Annual Fee: At $139 per year, the fee might feel steep, especially for those who don’t maximize the card’s benefits.
- Cash Back Limits: Although the card offers a 3% cash back rate, it is capped at $15,000 in annual spending for each category, limiting high spenders.
Standout disadvantage
Perhaps the most significant disadvantage is the high income requirement. Many potential cardholders might not meet the necessary $60,000 personal or $100,000 household income threshold, which restricts access to the card’s benefits.
Eligibility criteria
To be eligible for the TD Cash Back Visa Infinite Card, you must meet several specific requirements. Firstly, you need to be a resident of Canada and of legal age in your respective province or territory. Additionally, your personal annual income must be at least $60,000 or a combined household income of $100,000.
TD also requires that applicants have a good to excellent credit score, as the card is designed for those who demonstrate responsible credit use. Meeting these criteria ensures that you can take full advantage of the card’s higher credit limits and extensive rewards program.
How to apply for the TD Cash Back Visa Infinite Card
Ready to enjoy the rewards and perks of the TD Cash Back Visa Infinite Card? Applying is easy and straightforward, and you can do it from the comfort of your own home. Whether you prefer to use the TD website, mobile app, or visit a branch in person, TD offers multiple ways to apply.
Via website
Applying for the TD Cash Back Visa Infinite Card online is one of the most convenient options. Simply navigate to the TD Canada Trust website, fill out the application form, and submit your details. You’ll need to provide personal information like your full name, date of birth, and employment status, along with your income details. Once your application is submitted, you may receive an instant decision, streamlining the process even further.
Through the mobile application
If you’re constantly on the go, applying through the TD app might be the ideal option for you. TD’s mobile banking app allows you to submit your credit card application from your smartphone. You can also track the status of your application directly in the app, making it easy to stay updated without needing to call customer service. The app also offers personalized tips to help improve your chances of approval.
Through the store/branch
For those who prefer face-to-face interactions, you can apply for the TD Cash Back Visa Infinite Card by visiting your nearest TD branch. Meeting with a banking specialist allows you to ask any questions and get a more personalized experience. Plus, you’ll have access to all the resources of the branch, whether you need help with your credit card application or want to discuss other banking services.
