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Published September 23, 2022

TD Cash Back Visa Infinite Card Review

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Best for bigger households and road warriors who can maximize this card's 3% cash back at the grocery store and pumps.

TD Cash Back Visa Infinite Card rating: 5.0/5.0 stars

View rating methodology.

TD Cash Back Visa Infinite* Card

  • Annual Fee
    $120
    Waived first year
  • Interest Rates
    20.99% / 22.99%
  • Rewards Rate
    1%-10%
  • Intro Offer
    Up to $290
  • Our Take
    Why we like it

    The TD Cash Back Visa Infinite Card is a smart card for families who spend a lot on gas, groceries and automatic monthly purchases.

    Pros
    • Fantastic welcome offer with a $460 value.
    • Up to $2 million of Travel Medical Insurance coverage for the first 10 days of your trip (four days if you or your spouse are over the age of 65).


    Cons
    • A $120 annual fee often comes with more perks and insurance. However, you can waive this cost every year if you’re a TD member with an All-Inclusive Chequing Account holding a minimum balance of $5,000.
    • The accelerated earn rate of 3% cash back is limited to $15,000 annual spend across all categories. After that, you’ll earn a flat rate of 1% cash back on all purchases.
  • Product Details
    • Limited Time Offer: Earn 10% Cash Back on all Purchases for the first 3 months† up to a total spend of $2,000. Plus, first year no Annual Fee for the Primary and Additional Cardholders†. Must apply online by May 28, 2023.
    • Earn 3% in Cash Back Dollars on eligible grocery Purchases and gas Purchases†, and on regularly recurring bill payments† set up on your account.
    • Earn 1% Cash Back Dollars on all other Purchases made with your Card.†
    • Redeem your Cash Back Dollars to help pay down your Account balance whenever you please - the choice is yours!†
    • Your Cash Back Dollars never expire as long as your account is open and in good standing.
    • Interest Rates: 20.99% on purchases and 22.99% on cash advances.d
    • Travel Medical Insurance† - Up to $2 million of coverage for the first 10 days. If you or your spouse is aged 65 or older, you are covered for the first 4 days of your trip. Additional top-up coverage is available.
    • Delayed and Lost Baggage Insurance† - Up to $1,000 overall coverage per insured person toward the purchase of essentials such as clothes and toiletries if your baggage is delayed more than 6 hours or lost.
    • Emergency Travel Assistance Services† - Help is just a call away. Toll-free access to help in the event of a personal emergency while travelling.
    • Complimentary Visa Infinite* Concierge†: On call, 24 hours a day, seven days a week, to help you get the most from life whenever you travel, shop and use your Card.
    • Emergency Road Services with Deluxe TD Auto Club Membership, valued at $79.00†, is included with the product.
    • To be eligible, $60,000 (individual) or $100,000 (household) annual income is required. Also, you must have a Canadian credit file and be a Canadian resident of the age of majority in the province or territory where you live.
    • †Terms and conditions apply.
    • This offer is not available for residents of Quebec.
    • The Toronto-Dominion Bank (TD) is not responsible for the contents of this site including any editorials or reviews that may appear on this site. For complete and current information on any TD product, please click the Apply Now button.

TD Cash Back Visa Infinite Card pros and cons

Pros

  • A generous welcome offer that includes a waived annual fee for the first year (must apply online by May 28, 2023; conditions apply).
  • Accelerated earn rate on groceries, gas and recurring bill payments.
  • Roadside assistance.
  • Rental car discounts.
  • Travel and rental vehicle insurance coverage.
  • Perks like concierge support and access to luxury hotel, food and wine experiences.

Cons

  • The accelerated earn rate of 3% cash back is limited to $15,000 annual spend across all categories. After that, you’ll earn a flat rate of 1% cash back on all purchases.
  • The $120 annual fee yields fewer perks and insurance than some other cards.

TD Cash Back Visa Infinite Card full review

The TD Cash Back Visa Infinite card is a cash-back credit card that earns 1% to 3% cash back on eligible purchases (even more if you take advantage of its generous intro offer).

Benefits of TD Cash Back Visa Infinite Card

In addition to earning cash-back on eligible purchases, TD Cash Back Visa Infinite cardholders also get round-the-clock roadside assistance courtesy of a free Deluxe TD Auto Club Membership, and car rental discounts when renting with Avis or Budget. The card offers travel and auto rental insurance and cardholders get Visa Infinite perks, including 24-hour access to the Visa Infinite Concierge service team.

Drawbacks of TD Cash Back Visa Infinite Card

This card’s $120 annual fee is average (as far as credit card fees go), but some cards don’t charge annual fees.

There’s also an income requirement, which limits applicants to those with an individual annual income of $60,000 annually or an annual household income of $100,000.

You’ll also need to be mindful of how much you spend — the 3% cash back on groceries and gas drops to 1% once you spend more than $15,000 across both categories annually.

Is TD Bank reliable and secure?

The Toronto Dominion Bank, or TD Bank, offers personal and business banking services to over 27 million customers worldwide. It is one of Canada’s Big Six Banks, with branches and ATMs in every province and territory, except Nunavut.

TD Bank carries Canada Deposit Insurance Corporation (CDIC) insurance, which protects customer deposits of up to $100,000 if TD goes under. TD Bank credit card transactions are also protected from losses that result from unauthorized transactions through Visa Zero Liability.

TD Bank customer satisfaction ratings

TD Bank ranks 11th (and below industry average) in customer satisfaction with credit card issuers, according to J.D. Power’s 2022 Canada Credit Card Satisfaction Study, a survey of 6,478 cardholders in Canada [1]. Card issuers were rated on their benefits and services, communication, card terms, customer support and rewards. The credit card issuers with the highest customer satisfaction ratings in the survey were Tangerine Bank, Canadian Tire and American Express.

TD Bank had a Trustpilot rating of 1.3 out of 5 possible stars, based on more than 1,400 customer reviews, at the time of this writing.

TD Bank had a Better Business Bureau rating of 1.24 out of 5 possible stars, based on over 50 customer reviews, at the time of this writing.

TD Cash Back Visa Infinite Card details and eligibility

Who qualifies for the TD Cash Back Visa Infinite Card?

You must be a Canadian resident and at least the age of majority for your province or territory to be eligible for the TD Cash Back Visa Infinite card. You’ll also need to meet credit score and income requirements.

Approximate credit score needed for approval

Canadian credit card issuers rarely disclose required credit scores, which makes it hard to know your chances of approval when comparing credit cards. It also means any score suggestion we make would be our best guess — which may not be accurate and could result in card application rejections. We don’t want that.

Suggesting that you’d need a “good” or “excellent” score would also be confusing, because the meaning of those terms can vary depending on the rating system card issuers use.

Instead, we’ll tell you what we do know: higher scores have better chances of approval — that’s true no matter what type of credit you’re applying for. Visit our “What Credit Score is Needed for a Credit Card?” page to learn more.

» MORE: How to Check Your Credit Score 

Income requirements

A minimum annual income of $60,000 for an individual or $100,000 for a household is required to qualify for the TD Cash Back Visa Infinite.

Who should get the TD Cash Back Visa Infinite Card?

The TD Cash Back Visa Infinite Card offers its highest earn rate on groceries and gas. Those with sizable grocery bills, multi-vehicle households or long commutes will be able to make the most of this credit card’s cash back rewards program.

How to know if the TD Cash Back Visa Infinite Card is right for you

The TD Cash Back Visa Infinite might be a good fit if you typically use a credit card at the gas station or grocery store or are looking for a card that earns cash you can use to pay down your card balance.

Value of TD Cash Back Visa Infinite Card’s intro offer: $530+

The current limited-time intro offer for the TD Cash Back Visa Infinite Card includes a 10% cash back rate for three months and no annual fee for the first year of card membership. Right off the bat, the free year of card membership puts $120 in your pocket. But how much value could you squeeze out of the accelerated earn rate?

You’d earn 10% on all eligible purchases up to a total spend of $2,000, which is $200.

After that, the cash back rate drops to 6% for the next $3,500 you spend, which is another $210.

Once you past both bonus spending caps, the cash back rate falls to the standard rate for the card, which is 3% for gas, groceries and recurring bill payments and 1% for everything else.

Still, factoring in the waived annual fee, that’s a $530 value — all within the first year of card membership. And that doesn’t account for any other cash back you earn at the standard rate.

Is the TD Cash Back Visa Infinite Card worth it?

It depends on your spending habits. Ideally, you want to get more than you give when you have a credit card. The TD Cash Back Visa Infinite’s annual fee is $120. To recoup your costs, you’d need to spend at least $4,000 on groceries or gas in one year. That’s about $333 monthly. Anything you spend on groceries or gas beyond this will earn cash back you can pocket.

Point value breakdown

The TD Cash Back Visa Infinite’s ongoing rate is 1% on non-bonus categories. One percent cash back is equal to $0.01.

So, for each dollar you spend that’s eligible for cash back with the TD Cash Back Visa Infinite credit card, you’ll earn $0.01.

How to apply for the TD Cash Back Visa Infinite Card

The application process for the TD Cash Back Visa Infinite card is fairly straightforward:

  1. Select the Apply Now button from the TD Cash Back Visa Infinite page on TD Bank’s website.
  2. Select your province of residence.
  3. Review the card’s terms and conditions and select ‘I Agree’ to continue.
  4. Enter your personal details, including your full name, date of birth, phone number, email address and residential address.
  5. Tell TD Bank about your employment status.
  6. Tell TD Bank about your finances, including your annual personal income, household income and residential status.
  7. Review the information you’ve submitted and select your preferred credit limit.
  8. Add personal information for any additional cardholders you’d like to add to the account.
  9. Review the card’s insurance coverage and terms and conditions.
  10. Submit your application.

How to maximize the TD Cash Back Visa Infinite Card’s benefits

Get the most from your TD Cash Back Visa Infinite with the following tips:

  • Pay your bill on time. Failing to pay the minimum amount due on your account twice in 12 months will result in a penalty APR of 25.99%. This penalty APR will apply until you’ve made 12 consecutive payments on time. Your account may fall into default if you continue to miss payments.
  • Spend wisely. You’ll get the most bang for your buck by using your TD Cash Back Visa Infinite credit card to make grocery and gas purchases — both spending categories earn 3% cash back.
  • Avoid cash advances. Borrowing money from your credit card will result in a cash advance fee and an increased interest rate on what you borrow.
  • Set up recurring bill payments. Take advantage of the 3% you’ll get back on recurring payments by paying your bills with your TD Cash Back Visa Infinite card.
  • Link your card to your Starbucks account. Earn 50% more Starbucks Stars when you pay for your Starbucks order with your TD Cash Back Visa Infinite card — but only if you’ve linked your accounts.

Alternatives to the TD Cash Back Visa Infinite Card

If you bank with TD and would prefer to keep your accounts in one place, consider the TD Cash Back Visa — a cash back card with no annual fee. Or, compare your cash back credit card options from other financial institutions.

If cash back doesn’t appeal as a reward, numerous card alternatives exist, including travel reward cards, Aeroplan cards, cards with no annual fees and more.

Reasons you might want a different card

Annual fees and interest rates are common for credit cards. But there are a few circumstances where the TD Cash Back Visa Infinite simply won’t be a practical fit:

  • You don’t spend much on groceries.
  • You don’t have a car.
  • You don’t meet the minimum income requirement.
  • You’d prefer to earn a different type of reward.

TD Cash Back Visa Infinite Card vs TD Cash Back Visa Card

Both of these TD credit cards earn cash back but eligibility criteria and earn rates vary.

 TD Cash Back Visa InfiniteTD Cash Back Visa
Minimum credit scoreNot known.Not known.
Minimum annual income$60,000 for an individual or $100,000 for a household.None specified.
Annual fee$120$0
Earn rates3% on grocery and gas purchases and recurring bill payments,
1% on all other purchases.
1% on grocery and gas purchases and recurring bill payments,
0.5% on all other purchases.

TD Cash Back Visa Infinite Card facts

Card Type

The TD Cash Back Visa Infinite card is a cash back credit card. This means that it earns cash back dollars on eligible purchases, which can be used to pay down the balance of your card. Earn rates and eligible purchases vary. Explore your cash back credit card options to find the card that best suits your spending habits and lifestyle.

Interest Rates

Regular APR

The TD Cash Back Visa Infinite’s regular APR, also known as the purchase APR, is 20.99% as of September 2022.

Purchase APR

The TD Cash Back Visa Infinite’s purchase APR, also known as the regular APR, is 20.99% as of September 2022.

Cash advance APR

The TD Cash Back Visa Infinite’s cash advance APR is 22.99% as of September 2022.

Balance Transfer APR

The TD Cash Back Visa Infinite Card treats balance transfers like cash advances. The card’s cash advance APR is 22.99% as of September 2022.

Fees

Annual Fee

The TD Cash Back Visa Infinite’s annual fee is $120. The first additional cardholder pays $50 annually. Subsequent additional cardholders don’t pay a yearly fee.

Balance Transfer Fee

The TD Cash Back Visa Infinite card has a balance transfer fee of 3%.

Cash Advance Fee

The TD Cash Back Visa Infinite card has a cash advance fee of 1% of any cash advance transaction made in Canada. If the fee is less than $3.50, TD Bank charges a minimum cash advance fee of $3.50 up to a maximum of $10. Cash advance transactions outside Canada cost $5.

Foreign Transaction Fees

The TD Cash Back Visa Infinite card has a foreign transaction fee of 2.5% of the transaction amount.

Reward Earn Rates

Sign-up Bonus

Get 10% cash back on eligible purchases for the first three months following card activation for a total spend of $2,000. After that, you’ll earn 6% on gas, groceries and pre-authorized payments for a total spend of $3,500 for the first three months. Plus, no annual fee for the first year. Must apply online by May 28, 2023.

Rewards & Benefits

Main Reward

Earn 3% cash back on the following transactions:

Earn 1% cash back on all other purchases.

Other Perks

In addition to cash back rewards, the TD Cash Back Visa Infinite card also offers:

  • 24/7 emergency roadside assistance courtesy of a free Deluxe TD Auto Club Membership.
  • Complimentary 24-hour access to the Visa Infinite Concierge service team for help with travel accommodations, shopping, dining reservations and more.
  • Several types of credit card insurance, including travel medical, delayed and lost baggage, auto rental collision and loss damage.
  • Earn 50% more Starbucks Stars when you pay with your linked TD credit card.
  • Save a minimum of 10% off the lowest base rates for rental cars through Avis Rent A Car and Budget Rent A Car locations in Canada and the US.
  • Get exclusive perks when you book a stay on a property from the Visa Infinite Luxury Hotel Collection.
  • Access exclusive culinary events through the Visa Infinite Food and Wine Experiences program.

Insurance Coverage

Travel Medical Insurance

This card comes with travel medical insurance of up to $2 million for medical emergencies that occur outside your province or territory in Canada or abroad. Coverage is available for the first 10 days of a trip for those under the age of 65. Coverage for those 65 and older is limited to the first four days of a trip.

You can extend your coverage by contacting TD. This insurance covers you regardless of whether the trip was booked with the TD Cash Back Visa Infinite.

Delayed and Lost Baggage Insurance

The card also comes with delayed and lost baggage insurance of up to $1,000 per person per trip. If your bag is delayed more than six hours, this insurance covers the cost of emergency essentials, like toiletries and clothes.

Extended Warranty

This card automatically doubles the warranty of any eligible new item you purchase, up to an additional 12 months, so long as the item has a manufacturer’s warranty valid in Canada.

Purchase Protection

If you buy an item with your card and it’s damaged, lost or stolen within 90 days of purchase, this insurance covers the cost of repairing or replacing the item.

Mobile Device Protection

The TD Cash Back Visa Infinite card does not come with mobile device protection as of this writing.

Rental Car Theft & Damage

Use your card to book a vehicle rental and receive collision damage waiver coverage for up to 48 consecutive days. You must decline any collision coverage from the rental company for this coverage to apply. Claims must be reported within 48 hours.

Vans, trucks, motorcycles, trailers, exotic, antique and vehicles with a Manufacturer’s Suggested Retail Price over $65,000 are not covered by this insurance.

Rating Methodology

NerdWallet Canada rates credit cards according to overall consumer value and their suitability for specific kinds of consumers. Factors in our evaluation include annual and other fees, rewards rates, the earning structure (for example, flat-rate rewards versus bonus categories), redemption options, bonus offers for new cardholders, introductory and ongoing APRs, and other noteworthy features such as airline or hotel perks or the ability to transfer points.

  • Frequently asked questions about TD Cash Back Visa Infinite Card

    • How do I redeem my TD cash back?

      You can use your TD cash back dollars anytime through the TD EasyWeb platform or mobile app or by calling TD Bank. The minimum redemption amount is $25. You can use your cash back dollars to pay down your account balance.

    • How do I pay my TD Cash Back Visa Infinite card?

      You can make a payment to your TD credit card by transferring funds from another TD account or with cash back dollars through the TD EasyWeb portal or mobile app.

Article Sources

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