THIS PAGE MAY CONTAIN AFFILIATE LINKS. MEANING WE RECEIVE COMMISSIONS FOR PURCHASES MADE THROUGH THOSE LINKS, AT NO COST TO YOU. PLEASE READ OUR DISCLOSURE FOR MORE INFO.
Verdict: The TD Cash Rewards Visa card is a solid entry in the rewards-card field. Cardholders can build up cash rewards quickly, and only have to reach $25 in rewards points to redeem their cash. Depending on cardholders’ credit scores, the TD Cash Rewards card comes with a relatively low interest rate.
Overview: The TD Cash Rewards card earns points for several nice features: Its rewards never expire, and there are no ceilings on how many rewards points cardholders can earn. The card also offers a six-month bonus period during which purchases made with the card earn extra rewards points. Like many cards, it also offers a six-month period in which balance transfers are not charged interest.
How This Card Works: Cardholders will have at least 25 days from the close of each billing cycle to make their payments. Cardholders who carry a balance will be charged a minimum of $1 for interest, no matter their outstanding balance. Those who make balance transfers will be charged no interest on these transfers for six months.
Travel and Shopping Benefits: The competition among rewards credit cards is great. The TD Cash Rewards card is indicative of this; it offers a host of benefits for cardholders.
For the first six months they own the card, consumers will earn cash-back bonuses of 2 percent of all their purchases. After this introductory period, they’ll earn cash-back bonuses of 1 percent of all purchases. Once these cash-back points reach $25, consumers can redeem them for cash.
Cash-back points never expire. And consumers are not limited in how many of these points they can earn.
Consumers also have flexibility in how they make their payments. They can pay their bills online, by mail or by phone.
Fees: Cardholders are charged an interest rate of 13.24 percent, 18.24 percent or 23.24 percent, depending on their creditworthiness. Cash advances will cost either $10 or 5 percent of the amount taken out, whichever is higher. Balance transfers, after the initial six months that cardholders sign up for the TD Cash Rewards card, come with a charge of $10 or 3 percent of the amount of the transfer, whichever is higher. Late fee charges can reach as high as $35.
- No annual fee.
- Low interest rates, depending on credit score.
- Easy to redeem cash-rewards points.
- Late fee charges of up to $35.
- Cash-rewards level drops to 1 percent of purchases made after first six months.
- Interest rate can rise to as high as 23.24 percent depending on credit score.