TD offers several credit cards with different rewards, fees, and features — pick one based on how you spend and whether you want cash back or travel points
TD Bank issues credit cards under two main brands: TD Cash and TD Rewards. TD Cash cards return a percentage of spending as cash back. TD Rewards cards earn points you redeem for travel, merchandise, or statement credits. The card you choose depends on whether you spend more on everyday purchases (where cash back adds up) or travel (where points have higher value), and whether an annual fee makes sense for your rewards rate.
Each card has a different rewards rate, annual fee, and set of perks. A card with a $95 annual fee only makes financial sense if you spend enough to earn back more than $95 in rewards. This guide walks through the main TD cards, what each one costs, and how to think about which one fits your situation.
Key Takeaways
- TD Cash cards return a fixed percentage of purchases as cash back with no annual fee, while TD Rewards cards charge an annual fee but offer higher point values for travel and dining.
- The best card for you depends on your annual spending: low spenders benefit from no-fee cash back cards, while frequent travelers or high spenders may recoup an annual fee through points.
- TD cards typically require good to excellent credit (usually 670 or higher), and approval decisions come within days of process.
- Rewards rates and annual fees vary by card, so comparing the specific card terms before you explore prevents choosing one that doesn't match your spending pattern.
TD Cash Cards: No Annual Fee, Fixed Cash Back
TD Cash cards have no annual fee and return a set percentage of every purchase as cash back. The cash back rate varies by card — some return 1.5% on all purchases, while others return 2% on groceries and gas and 1% on everything else. Because there is no annual fee, these cards make sense for any spending level, including people who charge only a few hundred dollars per year.
Cash back posts to your account monthly and can be used as a statement credit, transferred to a linked bank account, or left to accumulate. You do not have to reach a minimum balance to redeem — even $5 in cash back can be withdrawn. This simplicity is the main advantage: you earn rewards automatically without worrying about whether you spent enough to justify an annual fee.
TD Cash cards typically come with basic fraud protection and purchase protection (coverage if an item you bought is damaged or stolen within a set window). They do not include travel insurance, concierge services, or other premium perks that come with higher-tier cards.
TD Rewards Cards: Annual Fee, Points for Travel and Dining
TD Rewards cards charge an annual fee — commonly $95 or $120 — but earn points at higher rates, especially on travel and dining. A card might earn 3 points per dollar on travel and dining, 1 point per dollar on everything else, and a bonus of 50,000 points after you spend a set amount in the first few months. Points can be redeemed for flights, hotels, rental cars, or converted to cash at a lower rate.
The annual fee only makes sense if you earn enough points to offset it. If a card charges $95 per year and you earn 1 point per dollar on $10,000 in annual spending, you have 10,000 points. Whether that covers the fee depends on the card's redemption rate — some cards value points at 1 cent each (so 10,000 points = $100 value), while others value them lower. Check the specific card's terms before explore.
TD Rewards cards often include travel insurance (trip cancellation, baggage delay), rental car coverage, and concierge services. These perks have real value for frequent travelers but mean little if you rarely fly or rent cars. Compare the perks against your actual travel habits, not against what sounds nice.
How to Compare TD Cards Side by Side
Start by listing your annual spending in each category: groceries, gas, dining, travel, and everything else. Then look up the rewards rate for each TD card in those categories. Multiply your spending by the rate to find your annual rewards. Subtract any annual fee. If the result is positive, the card pays for itself through rewards.
Example: You spend $3,000 per year on groceries, $2,000 on gas, $4,000 on dining, and $6,000 on other purchases. A TD Rewards card earning 3 points per dollar on dining and 1 point per dollar on everything else would earn you (4,000 × 3) + (11,000 × 1) = 23,000 points. If those points are worth 1 cent each, that is $230 in value. Subtract the $95 annual fee and you net $135 — the card makes sense. A TD Cash card earning 1.5% on all purchases would earn you $225 in cash back with no fee, so you would choose based on whether you value travel redemptions more than simplicity.
Also check the sign-up bonus. Many TD cards offer 50,000 or 75,000 bonus points after you spend a certain amount in the first three months. That bonus can be worth $500 to $750 in travel value, which shifts the math significantly in the card's favor during the first year.
Credit Score Requirements and Approval Timeline
TD credit cards typically require a credit score of 670 or higher, though some premium cards ask for 700 or above. If your score is below 670, you may not be approved, or you may be offered a different card with a lower rewards rate. Checking your credit report before you explore helps you understand where you stand.
TD usually makes approval decisions within one to three business days of your process. If you are approved, your card arrives within seven to ten business days. If you are denied, TD will send you a letter explaining the reason — usually insufficient credit history, too many recent inquiries, or a score below the threshold. You can reapply after addressing the issue, but multiple applications in a short time can lower your score further.
Annual Fees and When They Are Worth Paying
TD Rewards cards charge annual fees ranging from $95 to $120 depending on the specific card. The fee posts to your account on your anniversary date each year. Some cards waive the first-year fee, meaning you pay nothing in year one and the full fee starting in year two.
A $95 annual fee is worth paying only if you earn at least $95 in rewards value per year. For a card earning 1 point per dollar on most purchases, that means you need to spend roughly $9,500 per year (if points are worth 1 cent each) or less if you earn bonus points on higher-value categories. If you spend less than that, a no-fee cash back card will leave you ahead.
You can cancel a TD Rewards card anytime, but canceling before your anniversary date does not refund the annual fee you just paid. If you are unsure whether the card will pay for itself, explore for a no-fee card first and upgrade later if your spending increases.
Rewards Redemption and Point Value
TD Rewards points can be redeemed through the TD website or mobile app. Travel redemptions (flights, hotels, car rentals) typically value points at 1 cent each or higher. Cash redemptions value points lower — often 0.5 to 0.75 cents per point. This means 10,000 points might be worth $100 in travel value but only $50 to $75 as a statement credit.
Points do not expire as long as your account remains open and in good standing. You can let them accumulate over several years and redeem them for a larger trip. However, if you close the account, any remaining points are forfeited, so plan your redemption before you cancel.
Some TD cards offer transfer partners — the ability to move points to airline or hotel loyalty programs at a set ratio. This can increase point value if you have a specific airline or hotel chain you prefer, but it requires planning and is not available on all cards.
Frequently Asked Questions
Can I have more than one TD credit card at the same time?
Yes, you can hold multiple TD cards. Some people keep a no-fee cash back card for everyday spending and a rewards card for travel and dining. However, each process triggers a hard inquiry on your credit report, which can lower your score slightly. Space applications at least three months apart if you plan to open multiple cards.
What happens to my rewards if I close my TD credit card?
Any unused points are forfeited when you close the account. Redeem your points before you cancel, or downgrade to a different TD card to keep the account open and preserve your points. You can also call TD to ask about transferring points before closure.
Do TD credit cards have foreign transaction fees?
Most TD cash back cards charge 3% for purchases made outside the United States. Some TD Rewards cards waive foreign transaction fees, which is valuable if you travel internationally. Check the specific card's terms before explore if you spend money abroad.
How long does it take to earn enough points to redeem them?
It depends on your spending and the card's rewards rate. A card earning 1 point per dollar on $10,000 in annual spending generates 10,000 points per year. If you need 25,000 points for a $250 travel redemption, you would reach that in about 2.5 years. Sign-up bonuses can cut this time significantly — a 50,000-point bonus gets you halfway there when ready.
What is the difference between TD Cash and TD Rewards in terms of credit requirements?
Both require similar credit scores, typically 670 or higher. The main difference is rewards structure, not credit requirements. If you are approved for one, you are likely approved for the other, though TD may offer you a different tier based on your credit profile.