BEST CREDIT CARDSBEST CREDIT CARDSTD CASH CREDIT CARD: GENEROUS CUSTOMIZABLE REWARDS, FOR SOME

TD Cash Credit Card: Generous Customizable Rewards, for Some

It earns elevated and uncapped cash back in categories you choose, but you must live in certain states to apply.
Jaime Hanson Author Avatar
Oct 3, 2023 6:59 a.m. PDT
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The Bottom Line

4.0

NerdWallet rating

If you’re willing to actively choose your bonus categories and monitor your spending in them, this card can be quite lucrative, especially since there's no cap on rewards. But it's available to less than half of the United States.

TD Cash Credit Card
Annual Fee
$0
Rewards Rate
1%-5%
Cashback
Intro Offer
$150
Recommended credit score
Intro APR
0% intro APR on Balance Transfers for the first 15 billing cycles.
Regular APR
20.24%, 25.24% or 30.24%, Variable
Recommended credit score
Annual Fee
$0
Rewards Rate
1%-5%
Cashback
Intro Offer
$150
Recommended credit score
Intro APR
0% intro APR on Balance Transfers for the first 15 billing cycles.
Regular APR
20.24%, 25.24% or 30.24%, Variable
Recommended credit score
  • Annual fee

    $0

  • Rewards rate

    1%-5%

  • Bonus offer

    Earn 5% Cash Back on gas with the TD Cash Credit Card plus a $150 Cash Back bonus.

  • Intro APR

    0% intro APR on Balance Transfers for the first 15 billing cycles.

  • Ongoing APR

    APR: 20.24%, 25.24% or 30.24%, Variable

    Cash Advance APR: 30.49%, Variable

  • Balance transfer fee

    Either $5 or 3% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    3%

View Rates and Fees
  • Limited Time Offer: Earn 5% Cash Back on gas with the TD Cash Credit Card plus a $150 Cash Back bonus.
  • Earn $150 Cash Back when you spend $1,000 on eligible purchases within the first 90 days of opening your account.
  • 5% cash back on gas station purchases for six months or up to $6,000 in spend, whichever comes first.
  • Choose your top two spend categories to earn unlimited 3% and 2% Cash Back. Earn unlimited 1% Cash Back on all other eligible purchases.
  • Switch spend categories up to four times a year.​
  • No annual fee
  • Contactless Payments/Digital Wallet
  • Instant credit card replacement
  • Must be a resident of CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, or VT

Pros and Cons

Pros

No annual fee

Customize rewards categories

Introductory grocery rewards

Cons

Limited to certain states

Requires good to excellent credit

Foreign transaction fee

Detailed Review

No matter how you spend your money, the TD Cash Credit Card can be a rewarding option. That’s because unlike most rewards cards, it doesn't have set bonus categories. Instead, you get to pick what purchases earn elevated rewards, from a list of popular options.

It also has a $0 annual fee and offers a sign-up bonus: Earn 5% Cash Back on gas with the TD Cash Credit Card plus a $150 Cash Back bonus. Plus, for a limited time, the card provides an additional bonus on grocery store purchases. Terms apply; see below. These features position it as a strong rival to other customizable rewards cards like the Bank of America® Customized Cash Rewards credit card or the Citi Custom Cash® Card. Unlike those cards, the TD Cash Credit Card has no cap on its ongoing rewards earnings.

The primary drawback, however, is the card's limited availability. If you live on the West Coast, for example, you're out of luck.

TD Cash Credit Card: Basics

Card type: Cash back.

Annual fee: $0

Sign-up bonus:

Earn 5% Cash Back on gas with the TD Cash Credit Card plus a $150 Cash Back bonus.

Rewards:

  • Choose your top two spending categories (from a list; see below) to earn unlimited 3% and 2% cash back, respectively. (You can switch those bonus categories up to four times a year.​)

  • Earn unlimited 1% cash back on all other purchases.

  • Limited time: New cardholders can earn bonus cash back on grocery purchases for six months or up to $6,000 in spending. See below.

Intro APR: Balance transfer offer: 0% introductory APR balance transfers for first 15 billing cycles after account opening. After that, 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness.

Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater

Foreign transaction fee: 3%

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Benefits and Perks

Customizable rewards

With the TD Cash Credit Card, you can pick two categories from the list below that will earn elevated rewards, one at 3% cash back and another at 2% cash back:

  • Dining.

  • Entertainment.

  • Gas.

  • Groceries.

  • Travel.

All other purchases earn 1% cash back.

By default, your initial 3% category will be dining, and your initial 2% category will be grocery stores, but you'll have about a month from account opening to change those if desired. In fact, you can change your categories at any point, but it won't take effect until the following quarter.

Customizable rewards like this aren't unique. And some — such as the Citi Custom Cash® Card and the U.S. Bank Cash+® Visa Signature® Card — offer higher possible reward rates and more bonus-category possibilities. But compared with the competition, the TD Cash Credit Card does have one major strength: You'll earn unlimited rewards in your chosen spending categories. Most of the card's chief competitors implement spending caps on their customizable rewards.

Decent intro APR offer on balance transfers

Here's how the issuer puts it: Balance transfer offer: 0% introductory APR balance transfers for first 15 billing cycles after account opening. After that, 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness. You'll owe a 3% fee on balance transfers (minimum $5), but that's on the lower end of typical balance transfer fees, which generally range from 3% to 5%.

Flexible redemption options

As much as the TD Cash Credit Card focuses on cash back (it's in the card's name, after all), you actually have a variety of choices when redeeming points. In addition to getting cash back in the form of a statement credit or direct deposit into your bank account, you can also redeem points for travel, gift cards and merchandise.

Points are worth 1 cent apiece when you redeem them for cash back, and at least 1 cent apiece when you redeem for travel or gift cards. Point values also vary when you redeem for merchandise. If you opt for cash back, you must redeem a minimum of 2,500 points.

Drawbacks and Considerations

You must live in certain states to apply

The West Coast isn't the best coast when it comes to the TD Cash Credit Card. To be eligible to apply for the card, you must be a resident of one of the following places:

  • Connecticut.

  • Delaware.

  • Florida.

  • Maine.

  • Maryland.

  • Massachusetts.

  • New Hampshire.

  • New Jersey.

  • New York.

  • North Carolina.

  • Pennsylvania.

  • Rhode Island.

  • South Carolina.

  • Virginia.

  • Vermont.

  • Washington, D.C.

Foreign transaction fees

If you need a credit card that can handle international travel, the TD Cash Credit Card isn't a good pick. It carries a 3% foreign transaction fee, making it an expensive payment option when traveling abroad.

No introductory APR on purchases

Although the TD Cash Credit Card provides a decent intro APR offer on balance transfers, it doesn’t extend that same benefit to purchases made with the card. This means you'll start accruing interest on new purchases from the moment you make them.

The issuer does offer a caveat here. If you’ve taken advantage of the 0% introductory APR balance transfer offer and you pay the "Payment to Avoid Purchase Interest" amount shown on your account statement each billing cycle, you can avoid accruing interest on purchases.

At face value, this may seem like a good deal, but it’s effectively the same as avoiding interest charges by paying your statement balance on purchases each month, which is not a unique feature; all cards offer it. Plus, it could slow you down on paying off your balance transfer during the introductory APR period.

How To Decide If It's Right For You

For customers who live in an eligible area and want to maximize rewards on particular spending categories, the TD Cash Credit Card can be a great pick. Compared with other cards with customizable rewards categories, it adds the advantage of having no cap on ongoing rewards.

But again, it's available to less than half of the United States. And with a 3% foreign transaction fee and no introductory APR offer on purchases, it’s not an ideal choice for international travelers or anyone who intends to carry a balance from month to month.

Alternate Pick: Available Nationwide
Similar cash back features with nationwide accessibility

If the TD Cash Credit Card isn't available in your state, consider the Bank of America® Customized Cash Rewards credit card card instead. It's a similar $0-annual-fee card with customizable rewards (though they do come with a spending cap).


Methodology

NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.

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