TD Double Up Card Review: 2% Cash Back, With Some Strings
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
4.4
The card’s rich 2% back and bonus make it a good flat-rate cash-back card. But to earn those rewards, you’ll need to meet some requirements.
Pros
No annual fee
Intro APR period
Cash rewards
Cons
No bonus categories
Must be a member/customer
Not available in most states
Compare to Other Cards
Annual fee$0 | Annual fee$0 | Annual fee$0 |
Regular APR18.49%-28.49% Variable APR | Regular APR19.49%-28.24% Variable APR | |
Intro APR0% intro APR on Balance Transfers for 18 months | Intro APR0% intro APR for 15 months on purchases and balance transfers | Intro APR0% intro APR for 15 months on purchases and balance transfers |
Recommended Credit Score |
Recommended Credit Score |
Recommended Credit Score |
Detailed review: TD Double Up℠ Credit Card
The TD Double Up℠ Credit Card is one of the newest members of the growing 2% flat-rate cash back club. The $0-annual-fee card earns an unlimited 2% back and comes with an introductory APR offer on balance transfers, plus a sign-up bonus.
But that hard-to-beat rewards rate comes with some caveats. For starters, cardholders will earn the full 2% back only when they redeem rewards into an eligible TD Bank account. And because of the issuing bank’s relatively small footprint, you're eligible to open an account only if you live in one of a handful of states.
Other 2%-back cards on the market offer similar lucrative rewards and features, without any hoops to jump through.
TD Bank also issues the TD Cash Credit Card, which earns bonus rewards in categories like dining and at grocery stores. But it, too, requires that you live in one of a handful of U.S. states.
TD Double Up℠ Credit Card: Basics
Card type: Cash back.
Annual fee: $0.
Sign-up bonus: Earn $100 Cash Back in the form of a statement credit when you spend $1000 within the first 90 days after account opening.
Rewards: Unlimited 2% cash back on purchases, earned in two stages:
1% cash back back on all purchases.
1% cash back back when you redeem into an eligible TD Bank Deposit Account.
Redemption options: Technically, this card earns points, not direct cash back. But those points can be redeemed for cash back, gift cards and travel at a value of 1 cent per point. Points can also be redeemed for merchandise, although point values will vary with that option. You’ll need a minimum of 2,500 points to redeem for cash back.
Interest rate: 0% Intro APR on Balance Transfers for the first 18 billing cycles after Account Opening, and then the ongoing APR of 17.24%, 22.24% or 27.24%, Variable.
Balance transfer fee: $5 or 3% of each transfer, whichever amount is greater.
Foreign transaction fee: 3%.
The TD Double Up℠ Credit Card comes in two potential versions: a Visa Signature and Visa Platinum. While both versions offer the same rewards, applicants who are approved for a credit limit of $5,000 or greater will receive the Signature version, which comes with Visa Signature benefits.
Benefits and perks
High rewards rate on everything
The TD Double Up℠ Credit Card earns more than the industry standard of 1.5% back. Cardholders will earn 2% cash back: 1% on all purchases and another 1% when rewards are redeemed into an eligible TD Bank account.
Plus, the cash back is uncapped, meaning that no matter how much you spend on the card, you'll earn the same rewards rate on all purchases. And because you’ll earn cash back no matter what you use the card for, you won't have to keep track of multiple or rotating bonus categories like more complex cash back cards might require.
Generous introductory offers
Few cards that earn 2% back come with a bonus, which makes the TD Double Up℠ Credit Card's welcome offer stand out. New cardmembers can get the following: Earn $100 Cash Back in the form of a statement credit when you spend $1000 within the first 90 days after account opening.
The card also comes with an interest-free period on balance transfers, another perk that not many similar cards in the field offer. It features a 0% Intro APR on Balance Transfers for the first 18 billing cycles after Account Opening, and then the ongoing APR of 17.24%, 22.24% or 27.24%, Variable. This is a lengthy window of time that you can use to pay down transferred debt, interest-free.
Drawbacks and considerations
Rewards are tied to TD Bank and require some work
To earn the card’s full 2% rate, you’ll have to deposit rewards into an eligible TD Bank account. This means that you’ll earn an initial 1% cash back on your purchases, but the remaining 1% cash back will only come after you’ve redeemed your rewards into an eligible account.
If you’re already a TD Bank customer, this might not pose a problem for you. But many potential applicants would have to open an account with the bank (if eligible in your state, more below), which is another hoop to jump through. Plus, there's a minimum redemption of $25.
For a no-fuss 2% cash back card, consider the $0-annual-fee Wells Fargo Active Cash® Card instead. It earns an unlimited 2% back on all purchases, which you’ll get in one fell swoop. Plus, it features an introductory APR offer for both purchases and balance transfers: 0% intro APR on Purchases for 15 months and 0% intro APR on Balance Transfers 15 months from account opening on qualifying balance transfers, and then the ongoing APR of 19.49%, 24.49%, or 29.49% Variable APR.
And it, too, comes with a bonus for new cardmembers: Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months..
Eligibility is limited to certain states
The TD Double Up℠ Credit Card isn't available to all consumers in the U.S. To be eligible to apply for the card, you’ll have to live in one of the following states:
Connecticut.
Delaware.
Florida.
Maine.
Maryland.
Massachusetts.
New Hampshire.
New Jersey.
New York.
North Carolina.
Pennsylvania.
Rhode Island.
South Carolina.
Vermont.
Virginia
Washington, D.C.
That small footprint is a big obstacle. If you don’t live in any of the above Eastern states or D.C., you're out of luck.
Fortunately, there are other other 2% cash back credit cards that offer rewards that are just as lucrative as those of the TD Double Up℠ Credit Card and that don’t have location-based restrictions.
Other cards earn more
The TD Double Up℠ Credit Card offers a simple way to earn high cash back rewards without much work. But if you’re a rewards optimizer who’s willing to keep track of tiered or rotating rewards, there are cards that offer higher cash back rates. The Chase Freedom Flex℠, for example, earns 5% cash back in quarterly bonus categories that you activate, on up to $1,500 in spending per quarter (and 1% on all other spending). It also comes with an introductory interest-free period on purchases as well as a bonus for new cardholders:
Alternate pick: Up to 5% cash back
Earn 5% cash back in quarterly bonus categories that you activate, on up to $1,500 in spending per quarter (and 1% on all other spending). It also comes with the following sign-up bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. The annual fee is $0.
How to decide if it's right for you
The TD Double Up℠ Credit Card has a rich 2% ongoing rate and a sign-up bonus, making it a good option for uncapped rewards among flat-rate credit cards — as long as you live in a state where the card is available.
But those rewards come with some strings that can make the card a hassle to hold. Most consumers will find more lucrative and less restrictive cash back cards.
