Credit Cards

Locked: TD Cash Back Visa/Visa Infinite Cards out now!

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  • Mar 19th, 2019 2:45 pm
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Apr 24, 2017
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EugW wrote:
Apr 23rd, 2017 7:06 am
It's not $416 per month of course. You can max out the limit in a category in say 6-8 months and then just stop using it for the rest of the year.

That's for all-inclusive chequing account holders.
That is another way of using this card - stop using it when it reaches the annual 5k mark. However, the hassle still exists, and it is even more complicated than the monthly situation.

For the first few months, it is fine and it is still far away from the limit. But sooner you will start feeling it is close and sum up all the numbers for the past months and remember it, add the future purchases on top of it to avoid passing that line. That's just too much. Even though the annual fee can be waived with the AI account, this card just makes your life more complicated lol...

I have a feeling TD totally can launch a 4% card similar to CIBC/Scotia, but they decided not to do that because the annual fee can be waived by the AI account, and they can fool customers to keep/sign up AI accounts in this way.
A lot of 5k dead money in their hands, well play, TD.
💳 Amex Cobalt - Amex Personal / Business Platinum - Scotia Momentum Visa Infinite - Rogers WE
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jeffyjaixx wrote:
Apr 20th, 2017 12:21 pm
Anyone else hear about this? I've been waiting for TD to come out with a decent cashback card and the Visa Infinite one sounds like a good time to switch my TD First Class Travel one.

http://www.canadianrewards.net/2017/03/ ... n-jun.html

TD will issue 2 new credit cards in Jun 2017
TD will issue 2 new credit cards in Jun 2017:

1) TD Cash Back Visa Card, no annual fee. You can earn 1% cash back on grocery/gas/pre-authorized payment, and 0.5% cash back on other purchases. It has the Purchase Security and Extended Warranty insurance.

2) TD Cash Back Visa Infinite Card, annual fee $120 (it could be waived, if you have the TD all-inclusive account). You can earn 3% cash back on grocery/gas/pre-authorized payment (at most $5000 per category yearly) , and 1% cash back on other purchases. It has same insurances as the other TD Visa Infinite Cards. When you get approved, you can get 6% cash back on grocery/gas/pre-authorized payment (at most $3500) for the first three months.

And since June 19, the following credit cards are no longer available for application:
TD Classic Travel Visa Card
TD Cash Back MasterCard
TD Green Visa
TD Gold Elite Visa

For the no-annual fee TD Cash Back Visa Card, get the no-fee BMO Cashback Mastercard 1% everything, comes with Purchase Security and Extended Warranty insurance. Welcome offer : Get up to 4% cash back on every credit card purchase in your first 4 months

https://www.bmo.com/main/personal/credi ... astercard/
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Mar 23, 2009
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The 3% up to $5000 per category is a limitation to be sure, but for me it's still decent for a no-fee card (since I have an all-inclusive account).

For gas for my car I don't even use $100 per month, and between our two cars it would be under $200 per month. I drive a Prius Plug-in Hybrid and my wife drives a RAV4 Hybrid. For groceries excluding Costco, my wife pays for most of it (President's Choice MC), so what I spend is under $400 per month. I do spend more at Costco but it is not classified as grocery and they don't take Visa in-store, so that wouldn't qualify anyway. And for monthly payments, that is easy to manage. Furthermore, this card will have Apple Pay.

But yes, I agree TD needs to get with the program.

BTW, for Costco and other MC expenses, I'll be using the 2% MBNA Rewards World Elite, and I'll also be getting the 2% SimplyCash Preferred Amex, which has better insurance. I may churn the SimplyCash though, since they have 6 months at 5%. OTOH, I do like having an Amex just because, and the Amex does have Apple Pay support (while the MBNA card does not so far), so it's possible I may keep it even though I'd be paying $99 per year for two 2% cards. I may also keep my Tangerine card as mentioned in the other thread. I can use it occasionally as necessary and it also supports Apple Pay. It doesn't hurt to keep it around since it's no-fee.

tl;dr version:

For those of us with TD's all-inclusive account, consider this 3% cash back TD card as a good no-fee card, one tool in a toolbox of several credit cards. While it's not a perfect card by any means, it's decent in that context.
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kaliman wrote:
Apr 23rd, 2017 2:29 pm
For the no-annual fee TD Cash Back Visa Card, get the no-fee BMO Cashback Mastercard 1% everything, comes with Purchase Security and Extended Warranty insurance. Welcome offer : Get up to 4% cash back on every credit card purchase in your first 4 months

https://www.bmo.com/main/personal/credi ... astercard/
No kidding. Just when you think BMO had the worse credit card selection of the big 5 Face With Tears Of Joy
Go TD go!
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EugW wrote:
Apr 23rd, 2017 4:31 pm
While it's not a perfect card by any means, it's decent in that context.
Agreed. The TD Cash Back Visa Infinite is only decent, far from amazing. Basically you have to get a backup card for those 3 categories because the limit of the TD card is way to low. Interestingly, I just calculated a bit and my recommendation stands for CIBC/Scotia. Assuming you don't go over the limit on grocery and gas on a year basis (10k):

- CIBC/Scotia: $400 CB - $99 AF = $301 CB
- TD: $300 CB - $0 AF (waived by AI account) = $300 CB

CIBC/Scotia beat TD in this minimum example. If you have a family or like to buy gift cards in grocery stores, you can see a HUGE advantage on CIBC/Scotia. Since the cash back rates for bills are different (TD 3%, Scotia 2%, CIBC 1%. If you have 2% everything MC then it is 2%), it will be a bit complicated and it varies from person to person.
💳 Amex Cobalt - Amex Personal / Business Platinum - Scotia Momentum Visa Infinite - Rogers WE
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EdisonL299 wrote:
Apr 23rd, 2017 9:19 pm
Agreed. The TD Cash Back Visa Infinite is only decent, far from amazing. Basically you have to get a backup card for those 3 categories because the limit of the TD card is way to low. Interestingly, I just calculated a bit and my recommendation stands for CIBC/Scotia. Assuming you don't go over the limit on grocery and gas on a year basis (10k):

- CIBC/Scotia: $400 CB - $99 AF = $301 CB
- TD: $300 CB - $0 AF (waived by AI account) = $300 CB

CIBC/Scotia beat TD in this minimum example. If you have a family or like to buy gift cards in grocery stores, you can see a HUGE advantage on CIBC/Scotia. Since the cash back rates for bills are different (TD 3%, Scotia 2%, CIBC 1%. If you have 2% everything MC then it is 2%), it will be a bit complicated and it varies from person to person.
For all the high percentage but non-flat-rate cash back cards you want to get a backup card anyway IMO. For me, it's the 1% non-categorized purchases that kills me. Buy a fridge? 1%. Buy a computer? 1%. My "backup" card will be a flat 2% card, to get that 2% on all the many of thousands of dollars I spend every year that isn't groceries or gas, etc. In fact, I probably spend literally 25X as much on stuff that doesn't fit in those popular categories than I do on gas.

And aside from some Xmas gifts, I essentially never buy those gift cards. I certainly don't buy gift cards to use myself to gain points or cash back. Way, way too much of a waste of time.
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So if they are getting rid of the TD Gold Elite, I wonder if the TD Cash Back Visa Infinite will come with Roadside Assistance because that would make it more competitive for sure. However, since this is TD...probably not because that might make this credit card too good LOL. No other TD card would include deluxe roadside assistance anymore. I wonder if they'll just scrap TD Autoclub.

I recently cancelled my TD Gold Elite to take advantage of the BMO World Elite promo and I got the cashback card that includes roadside assistance. Then I found out about the no annual fee Home Trust Preferred Visa (thanks RFD) which also includes free roadside assistance and no forex as someone already mentioned and I got approved. Now I'm double covered :)
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Rudeepoo wrote:
Apr 25th, 2017 10:07 am
So if they are getting rid of the TD Gold Elite, I wonder if the TD Cash Back Visa Infinite will come with Roadside Assistance because that would make it more competitive for sure. However, since this is TD...probably not because that might make this credit card too good LOL. No other TD card would include deluxe roadside assistance anymore. I wonder if they'll just scrap TD Autoclub.

I recently cancelled my TD Gold Elite to take advantage of the BMO World Elite promo and I got the cashback card that includes roadside assistance. Then I found out about the no annual fee Home Trust Preferred Visa (thanks RFD) which also includes free roadside assistance and no forex as someone already mentioned and I got approved. Now I'm double covered :)
Yeah, I will likely cancel my TD Gold Elite to get the cash back card, and if so, the I'd get the Home Trust for no forex. I have the Chase Amazon one, but who knows when that one will die off.
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fun fact. majority of td cards don't have offline authentication. Ex if something happens and a merchant is forced to switch over to offline for time being until the backend connection is fixed, you're outta luck. Cibc dividend visa beats tds new cashback card in this scenario. Everyone else does seems like. If one were to make this a primary card and you don't carry spare cash, Keep your cap one aspire if you have it or any other card on hand.
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Rudeepoo wrote:
Apr 25th, 2017 10:07 am
So if they are getting rid of the TD Gold Elite, I wonder if the TD Cash Back Visa Infinite will come with Roadside Assistance because that would make it more competitive for sure. However, since this is TD...probably not because that might make this credit card too good LOL. No other TD card would include deluxe roadside assistance anymore. I wonder if they'll just scrap TD Autoclub.

I recently cancelled my TD Gold Elite to take advantage of the BMO World Elite promo and I got the cashback card that includes roadside assistance. Then I found out about the no annual fee Home Trust Preferred Visa (thanks RFD) which also includes free roadside assistance and no forex as someone already mentioned and I got approved. Now I'm double covered :)
But the BMO WE roadside assistance is just a throw-in. Unless your car is used for short trips 10km is nothing.
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amplified wrote:
Apr 25th, 2017 4:01 pm
But the BMO WE roadside assistance is just a throw-in. Unless your car is used for short trips 10km is nothing.
It's perfectly fine for day to day driving. I don't go on very many road trips at all.
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Jan 13, 2016
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Unless it has travel medical insurance, i don't think its worth it as i need annual multi trip medical insurance for trips to the states. I'll bet lots of people don't think about it but car accidents on trips to states is a possibility. I don't think the td cash back visa returns matches returns on td visa travel card without the travel insurance.
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Wife got a letter from TD today indicating that her Rebate Rewards Visa is being converted to a Cash Back Visa on June 19. Cash Back can be requested any time, no longer have to wait for statement credit.
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Interesting to see TD finally make a change. Too bad it still doesn't look as good as the Infinite Visas from Scotia & CIBC though.

Currently use the Scotia for gas and groceries only (4% cash back). Roughly $14-15K per year with $120 annual fee. Could get the TD Visa without a fee, and at 3% cash back for gas and groceries it looks like spending <$12K per year would make it advantageous. Though even then, the limits of 5000/year on each category don't help (specifically groceries).
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Apr 23, 2017
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joey003 wrote:
Apr 29th, 2017 8:38 am
Interesting to see TD finally make a change. Too bad it still doesn't look as good as the Infinite Visas from Scotia & CIBC though.

Currently use the Scotia for gas and groceries only (4% cash back). Roughly $14-15K per year with $120 annual fee. Could get the TD Visa without a fee, and at 3% cash back for gas and groceries it looks like spending <$12K per year would make it advantageous. Though even then, the limits of 5000/year on each category don't help (specifically groceries).
Yes, If one didn't go over the 5k categories for gas and groceries, and had a bit of recurrent spend (say $100 a month for internet/cable) then:
5k groceries = 150, 5k gas = 150, 1.2k recurrent bills=36...so that is $336 (with a waived annual fee for having the all inclusive plan at TD)

With the Scotia Momentum Infinite 5k groceries = 200, 5k gas=200, 1.2k bills = 24...so that is $424 (-99 annual fee) = $325. So the TD is a tiny bit ahead.

I spend at lot more on groceries per year than 5k though so the new TD isn't a good card for me, but if one filled up the SUV once a week for $90 and bought only $95 worth of groceries per week, and had $100 or more a month in recurrent bills, and had the annual fee waived with TD, then this TD card could give a little bit more than the Scotia card.

However if one spends $200 a week on groceries and $120 a week on gas, and the same $100 in recurrent bills, then the Scotia card is better even with the TD fee waiver (Scotia: $416 groceries, $249 gas, $24 bills = $665 (-$99 fee) = $566). TD: $150+52=$202 groceries, $150+12=$162 gas, $36 bills = $400 (with annual fee waived).

I guess since the Scotia card has a 4% groceries and gas cap of $25k, and the TD a 3% combined groceries and gas cap of $10k, that the TD card is designed for people who don't spend as much and have the TD all inclusive plan.

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