TD Rewards: Everything You Need to Know to Make the Most of Them

    It seems like there’s always a gift to buy. For a friend, for your niece, to thank someone who has done you a favor… it never ends! Could you get one for free through one of the best rewards programs in Canada? These programs are numerous and each one deserves your consideration. To help you choose the one that’s right for you, here’s a summary of TD Rewards, the TD Bank program.

    TD Rewards: An Introduction

    Like other rewards programs offered by banks, the only way to earn TD Rewards points is to get a TD credit card. Any credit card application usually goes through a credit check, which can affect your credit score. Not to mention the risks associated with holding too many cards if you are not skilled at managing credit.

    So before you jump on the first TD credit card available, assess your needs. If you determine that a new card would be a nice addition to your wallet, use a credit card comparison tool to make sure you choose one that’s right for you. Consider its fees, reward categories, and eligibility criteria.

    Once you have your TD credit card, sign up on the TD Rewards website. They will confirm your email and ask you to fill out security questions. Then you will enter your TD credit card details (or cards, if you have more than one), and complete the process.

    What are my rewards?

    Points are redeemable for travel, Amazon items, catalog items, gift cards, a credit on your credit card statement or education credits. If you are an avid traveller, please note that TD also offers Aeroplan credit cards that might be interesting for you.

    Travel

    The maximum value of points is achieved when you use them for travel purchases on Expedia for TD. The site is reserved for cardholders of TD travel or rewards credit cards. You accumulate points on your purchases on this site and you can of course exchange them for a discount on your next trip. If you prefer to book through another website or travel agency, you will be able to have it credited.

    TD Rewards points must be redeemed in increments of at least 200 points (or 200-250 if not through Expedia for TD). Every 200 TD Rewards points redeemed represents a travel savings of $1. Each point is worth $0.005.

    Shop on Amazon and the TD Rewards Catalog

    When you register your TD card on Amazon, you can use the accumulated points instantly at the checkout page. You can still choose the number of points you want, to cover all or part of your purchase. You will need 303 points to get $1 off on the payment. Each point is worth $0.0033.

    In the TD Rewards catalog, you can redeem points for everything from appliances and electronics to clothing and games. For example, I found the Xbox game Ghostbusters Spirits Unleashed for 21,326 points, or about $70. You can find it for less elsewhere!

    The value of the points varies according to each item and to promotional offers, but it remains around $0.0033. A $25 gift card is generally worth 7,500 points (or $0.0033 per point), regardless of whether it is for American Eagle or Apple.

    Cash back and education credits

    Cash back may be automatically applied to your card statement if you request it. It can help you pay the current balance on your account. Allow 5 to 7 business days to convert your points into dollars.

    In exchange for 62,500 points, you can get a $250 education credit from HigherEdPoints, for yourself or anyone else. The value of a point is $0.004. These credits are non-refundable and remain valid for two years. TD will send you a confirmation code to enter on the HigherEdPoints web page. Have information on hand about the selected student or graduate: name, date of birth, name of the institution to which to transfer funds, student or loan number. Check out the participating institutions before you buy such a credit.

    Credit cards to earn TD Rewards points

    Some of the best TD credit cards allow you to earn points. Specifically, there are three personal credit cards linked to TD Rewards. In addition, if you are an entrepreneur, know that there is also a corporate card for this purpose (the TD Business Travel Visa). Here are the three personal cards that interest us in this article.

    CardRewardsBenefits and drawbacks
    TD First Class Travel Visa Infinite – 8 points per dollar spent when you book with Expedia for TD
    – 6 points per dollar spent at grocery stores and restaurants
    – 4 points per dollar on recurring bill payments set up in your account
    – 2 points per dollar on all other purchases
    – Birthday bonus of up to 10,000 points
    – $100 annual travel credit when you book a trip with Expedia for TD
    – Free 12-month subscription to Uber One
    – Travel insurance

    – Annual fees of $139, $50 for the second card and $0 for subsequent cards
    – Minimum income required
    TD Platinum Travel Visa Card– 6 points per dollar spent when you book with Expedia for TD
    – 4.5 points per dollar spent at grocery stores and restaurants
    – 3 points per dollar on recurring bill payments set up in your account
    – 1.5 point per dollar on all other purchases
    – Free 6-month subscription to Uber One
    – Travel insurance
    – No minimum income required

    – Annual fees of $89, $35 for the second and $0 for subsequent cards
    TD Rewards Visa– 4 points per dollar spent when you book with Expedia for TD
    – 3 points per dollar spent at grocery stores and restaurants
    – 2 points per dollar on recurring bill payments set up in your account
    – 1 point per dollar on all other purchases
    – No annual fees
    – No minimum income required
    – Mobile device insurance of up to $1,000

    TD First Class Travel Visa Infinite credit card

    With the TD First Class Travel Visa Infinite card, you get a generous welcome bonus and a waived annual fee for the first year. However, the offer is temporary and may change. This is one of the best travel credit cards you can get in the country, especially if you like to spoil yourself with great hotels and extras. Before applying, make sure you meet the eligibility criteria, including a personal income of $60,000 or more, or a $100,000 income for your household.

    [Offer productType=”CreditCard” api_id=”5f35480892ec22115033b309″]

    TD Platinum Travel Visa credit card

    This credit card is especially interesting if you do not meet the income criterion to obtain the previous card. Its annual fees are lower and it also offers a generous welcome bonus.

    [Offer productType=”CreditCard” api_id=”637d02e26bbb7962c19ae226″]

    TD Rewards Visa card

    The TD Rewards Visa Card is a great solution if you don’t want to be burdened with annual fees while still accumulating TD Rewards points. Despite the lack annual fees and numerous perks, it still comes with a welcome bonus!

    [Offer productType=”CreditCard” api_id=”6334358261728a40bc5d854a”]

    Predict your rewards with this simple calculation

    To help you choose between these three cards, I carried out a comparison exercise for a regular year (excluding welcome offers). Let’s say I spend $1,500 on travel per year, $5,000 on groceries and restaurants, and $1,000 on recurring bills. I made my calculations based on the points indicated in the table above and the maximum exchange value (for travel).

    With the First Class Travel card, I would get 12,000 points for my trip, 30,000 points for food and 4,000 points on my payments. The total of 46,000 points has a value of $230 if I choose to redeem them for travel. By subtracting the annual fee of $139, I would therefore earn $91.

    With the Platinum Travel card, I would get a total of 34,500 points, for a maximum value of $172.50, or $83.50 once the annual fees are paid. Finally, the Rewards Visa card would give me 23,000 points, or $115! It is therefore the latter which is the most advantageous card, at least according to my spending categories.

    Maude Gauthier is a journalist for Hardbacon. Since completing her Ph.D. in communications at University of Montreal, she has been writing about finance, insurance and credit cards for companies like Fonds FMOQ and Code F. As a responsible user of credit cards, she can spend hours reading the fine print to fully understand their benefits. Because of their simplicity, she developed a preference for cash back cards. After suffering steep increases with her former insurer, she can now proudly say that she saved hundreds of dollars by shopping around for her auto and home insurance. In her free time, she reads novels and enjoys streaming popular shows (and possibly less popular shows, like animal documentaries).