Credit Cards

TD Cash Visa [TD Bank N.A.]

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TD Cash Visa [TD Bank N.A.]

Thought this card is so awesome that it deserves a thread of its own. To discuss daily banking products with TD Bank N.A. or any other combos or financial products we can get in the US, see the US banking and CC megathread. There's also a TD cross-border banking thread. This thread is strictly for discussing the TD Cash visa card. Official card web page here.

Image

This card is available to all Canadians, no SSN or ITIN required. They pull your Canadian TransUnion if you apply as cross-border.

Don't let the card image fool you. The card won't start with 4520, that's for TD Canada Trust visa cards. Card starts with 4839, so you're safe for merchant acceptance in the US.

Worthy mention. If you plan on using this card outside the US, call TD card services to put the card on travel mode (max 60 days).


Features
  1. No-AF
  2. No-FTF (only Visa's 0.4% markup)
  3. Good cashback (best at restaurants) - 3% restaurants, 2% groceries, 1% everything else
  4. Welcome bonus
  5. USD card, great for those of us who capitalize a small gain exchanging CAD->USD, or can exchange at low cost
  6. If CL is approved at $5k+ (USD), card is visa signature, get those benefits, too
  7. Redeem cashback as statement credit any time, minimum $25
  8. Supports Google Pay, Samsung Pay and Apple Pay
  9. Now you don't need HomeTrust Preferred (no-FTF, Signature gets you a slightly better roadside assistance), Rogers MC WE (if you're capitalizing a small margin rather than losing on CAD->USD conversion, and you won't have to wait for annual statement credit), no need to pay AF for a restaurant cashback card, you can flush AmEx SCP (aside welcome bonus) for same reason as Rogers, flush Scotia cards, etc. Combo this with your one good premium Canadian card and you're good to go.
  10. With this card, you can go ahead and link to a US based Gmail account (get US Play Store) or do the same via iTunes, open a separate US PayPal account, etc. Now you can shop with some stars and stripes.
  11. Helps establish and build US credit history, though this is only relevant if one has or plans to acquire SSN or ITIN

FAQ
  1. Why get this card: merchant acceptance, no-FTF, signature benefits for those who are approved with $5k+ CL, easiest US issued card for Canadians to get that's worthwhile (better than RBC's US side visa card). If you still aren't convinced, please skip this thread. Data points of initially approved CL of $3-15k.
  2. How can I pay this card: any checking account with a US FI, that includes TD Bank N.A. can also bill pay as a US payee for a fee out of TD CT.
  3. Unlike TD CT, no product changes and no moving CL between cards (you've been warned)
  4. TD Cash and First Class are the only two up for grabs via cross-border (Canadian TransUnion pull). With 6+ months US credit history (even without ITIN or SSN), can apply online for their Ameritrade or Business cards. Note that their business card pulls and reports on personal US history.
  5. Card ships without a PIN. PIN is only needed for cash advances, so don't request a PIN. Without SSN or ITIN, you can't change the PIN, either. Just don't bother. Contactless through phone, or chip and sign.
  6. It's possible to get more than one TD Cash visa card. Just apply again. Approval is not guaranteed.
  7. Note that this is an American card, that means welcome bonuses can get clawed back if the card is used to buy gift cards or prepaid cards in order to hit minimum spend. Of course whether this is enforced is YMMV, but don't complain when your WB gets clawed back

Visa Signature Benefits
Here's what you'll be missing out on if you get approved for less than $5k CL:
  1. Basic roadside assistance (US only, won't include Canada) at a discount
  2. 24 hour concierge
  3. Auto rental insurance
  4. Emergency cash disbursement
  5. Extended warranty - US purchases only, bonus 1 yr on max 3 yr manufacturer warranty (90 days becomes 15 months, 3 years becomes 4 years), exclusions are mostly the same as in Canada
  6. Usual travel stuff (lost luggage, life insurance for the duration of the flight paid by the card)
  7. Few other features including luxury travel discounts
  8. See this article for more info on Visa Signature features in the US

Warning: don't apply for this card if you...
  1. Only buy USD from big five banks... especially TD (unless you can get preferred rates via TD DI...not to be confused with TD Borderless rates, which are still uncompetitive)
  2. Are too lazy to get a mail forwarding or storage service on the East Coast
  3. Never travel, shop online or shop in foreign currency...ever
  4. Don't want restaurants to be hit with higher merchant fees
  5. Have no interest in boosting merchant acceptance while travelling in the US
  6. Rely on product change or moving CL. There is none of that at TD Bank US. CL increase is a hard pull, and no product changes. If your card is approved for under $5k CL and you want signature rather than platinum, it may be worth applying for the CL increase

How to apply
  1. grab a free mail forwarding service or border warehouse parcel service on the east coast. That will be your new US address for footprint
  2. Grab this PDF form
  3. For paperless cellphone users: grab Adobe Fill & Sign for your form. Google Play link here, Apple Store link here.
  4. Input No for US resident checkbox
  5. Use SIN, no ITIN or SSN required. Check off Canadian address for mailing. Put US address (mail forwarding service) in US address. Must be East Coast. No PO box.
  6. Fax the application to +1-706-649-4843 or +1-855-257-3388 (if over 21, can still fax the local number). If using web based fax, FaxZero.com is max three pages plus cover. Use an app to sever the form to drop the last few pages that are fine print only (TD Bank doesn't need that).
  7. Cross your fingers to get approved for $5k+ CL
  8. Once you get the card, do not change the address for at least one month. Afterwards, it's ok to change address on file but only via phone. It also takes three billing cycles to suppress paper billing

How to bill pay the card
You can't bill pay TD Cash as a Canadian bill payee under "TD VISA". That simply won't work. You can open a cross-border chq account with RBC, TD, or BMO Harris (BMO Harris is best for no fee/no minimum balance/good ATM access, does not require banking with BMO in Canada). Alternatively, open an account with another bank in the US, check the thread for that discussion. Your US bank may or may not have TD Bank Credit Cards pre-loaded, but even if they don't, you can add 'em manually. FWIW, you can also add TD Cash as a US payee via TD Canada Trust. TD CT won't allow adding custom US payees outside of preloaded list, but TD cards are there. Use the following info to add payee:
  • Payee name: TD BANK CREDIT CARDS
  • Match address with: PO Box 16027, Lewiston ME 04243
  • Account number is your card number starting with 4839

Thanks to @dekvitaly and @Snuupy for their help with this info, Along with feedback in thread from @efrant.
Last edited by titaniumtux on Jul 15th, 2018 1:58 pm, edited 1 time in total.
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Thread Summary
This thread is not about where to open a checking account in the US, where to buy USD, or where to get a mail forwarding service.

Warning: it's against forum rules to encourage or discuss using a fake address.

Although CAD->USD exchange is off-topic in this thread, will make some recommendations here.

1. for the lazy RFDers, use Tangerine to exchange CAD->USD. Via me to me transfer, move USD from Tangerine to TD, then free wire to TD Bank checking account (laziest route, but still better rates than big five). For next level up, consider credit unions. Afaik Hubert CU in MB can move USD via me to me transfers, and their exchange rates may be better than Tangerine.
2. For better rates than Tangerine or the CU's, exchange via Knightsbridge FX, VBCE or Everforex. Note that KBFX can wire the funds to a bank account in the US, or deposit via PAD to your USD account in Canada. MTFX has worse rates than Tangerine unless you're exchanging large amounts. Also skip Ofx due to their lousy rates.
3. Still cheaper for those who have TD DI to exchange via TD
[Added by bylo} 4. Yet cheaper still if you have a brokerage account, e.g. at TD Direct Investing (nee Waterhouse) is to do a Norbert's Gambit. This makes more sense the larger the amount converted. See e.g. Norbert’s Gambit at TD Direct Investing. Google will find many RFD threads and other sites that provide more details.


While not entirely on-topic, many individuals who end getting the TD Cash Visa also end up getting a TD Bank Convenience Checking account to be able to pay off the card, and many of those individuals are TD Canada Trust customers. Here is a list of frequently asked questions that TD Canada Trust customers have asked:

Q: Can I pay my TD Cash Visa from my TD Canada Trust account (either my CAD account or my USD account)?
A: No. TD Canada Trust used to allow you to pay U.S. bills (including the TD Cash Visa) for a fee of $2.50, but they removed that ability in the past few months, so it is no longer an option.

Q: I'm already a TD Canada Trust customer and would like to be able to pay my TD Cash Visa. How do I get a TD Bank Convenience Checking account?
A: If you are an existing TD Canada Trust customer, you can easily get a TD Bank Convenience Checking account. The whole process takes less than 10 minutes and can be done entirely online. The link to apply can be found here: https://www.td.com/us/en/personal-banki ... nvenience/ Make sure you have all your info handy (including your U.S. address) so you can quickly fill in the online application form. Once the application is complete, make note of your account number (as you will need this since you don't have a Debit card yet). TD Bank will mail you a TD Visa Debit card (and they can send it to your Canadian address no problem) within two weeks. Now that you have opened your account, you will need to fund it.

Q: Do I need a U.S. address to open a TD Bank Convenience Checking account?
A: No. But if you don't have a U.S. address, I believe (not 100% sure though) that you need to call the cross-border banking number (1-877-700-2913) to open your account, rather than doing it online.

Q: How do I fund my TD Bank Convenience Checking account?
A: There are two ways to transfer funds from your TD Canada Trust accounts to your TD Bank accounts. 1) Call the cross-border banking number (1-877-700-2913) and ask to do a "me-to-me" transfer; or 2) use Visa Direct in your TD Canada Trust EasyWeb to do a "me-to-me" transfer. The first time you fund your account, I believe you must call the cross-border number (they will re-confirm for all your info). Subsequent transfers can be done either way.

Q: Can I access my TD Bank Convenience Checking account from my TD Canada Trust EasyWeb?
A: Yes and No. Once you call in to fund your account the first time, the rep will ask you if you'd like your accounts linked. When you link them, you will see your TD Bank Convenience Checking account (and balance) in TD Canada Trust EasyWeb. However, it is just a link to TD Bank's online banking page. You need to create a TD Bank online banking profile to fully access your TD Bank Convenience Checking account.

Q: Are there any fees associated with a TD Bank Convenience Checking account?
A: There are no fees to open the account. There is a monthly fee; however, that can be waived by keeping a minimum balance of US$100 in the account.

Q: Are there any fees to transfer funds to/from a TD Bank Convenience Checking account?
A: There are effectively no fees to transfer funds between your TD Canada Trust accounts and your TD Bank accounts. I stated "effectively", because there are wire fees, but they are refunded the next business day. For example, if you transfer funds from you TD Canada Trust account to your TD Bank account by way of Visa Direct, you will be charged an outgoing wire fee (of ~$9) at your TD Canada Trust account, and an incoming wire fee of US$15 at your TD Bank account. Both fees are refunded the following business day. If you transfer funds by way of the cross-border phone number (1-877-700-2913), the ~$9 fee is waived at your TD Canada Trust account, and an incoming wire fee of US$15 at your TD Bank account is charged but refunded the next business day. That said, there may be ancillary fees on the TD Canada Trust side. For example, if you have a US$ Daily Interest Chequing account there is a US$1.25 fee per debit transaction (unless you maintain a minimum balance of US$1,500 in that account). Another example is if you attempt to transfer funds to your TD Bank Convenience Checking account from a CAD-denominated TD Canada Trust account – in this case, you will be charged TD's f/x fees, which are quite unfavourable (i.e., in the ~3% range).

----
For discussions on TD's premium cards issued in Canada, see this thread.
652 replies
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Best offer for the card I've seen: $200 back on $500 spend
Alternate offers:
  1. $150 on 500 spend
  2. $150 + Amazon Alexa + Echo Dot on $500 spend
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[OP]
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Snuupy wrote:
Jun 16th, 2018 5:16 pm
Best offer for the card I've seen: $200 back on $500 spend
Alternate offers:
  1. $150 on 500 spend
  2. $150 + Amazon Alexa + Echo Dot on $500 spend
+1

I didn't specify WB in OP since it can fluctuate. But even at floor promo of $150 CB on $500 spend is a no-brainer.
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why TD Cash is bae:
1. Google Pay/Apple Pay Support
2. Easy Canadian mailing
3. Easy application process
CAN/USA Cross Border Banking

Netflix? Bill me in Turkish Lira, Watch Me around the world.
[OP]
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dekvitaly wrote:
Jun 16th, 2018 5:23 pm
why TD Cash is bae:
1. Google Pay/Apple Pay Support
2. Easy Canadian mailing
3. Easy application process
Ty for that. #1 added to OP.
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@titaniumtux maybe in you FAQ point A as another reason to get this card is because it's a good/easy way to build your U.S. credit history.
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efrant wrote:
Jun 16th, 2018 5:38 pm
@titaniumtux maybe in you FAQ point A as another reason to get this card is because it's a good/easy way to build your U.S. credit history.
Yes - only if you attach SSN/ITIN to the account.
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Snuupy wrote:
Jun 16th, 2018 6:35 pm
Yes - only if you attach SSN/ITIN to the account.
Based on some data points I've read, even if you don't have an ITIN/SSN attached, it still contributes to your U.S. credit file. What is important is your name, birth date and address.
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USD card, great for those of us who capitalize a small gain exchanging CAD->USD
What does this mean?
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S5 wrote:
Jun 16th, 2018 8:53 pm
What does this mean?
OP times the market and buys USD with CAD when the exchange rate is favourable whereas with a card like Rogers WE MC/HT the rate is converted into CAD by Visa at the time when the transaction posts into the account.

Basically, because it is USD, you can choose the point where YOU convert CAD to USD to pay.
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You didn't mention the spending rewards: 3% cash back on dining, 2% at grocery stores, 1% other. Link: https://www.tdbank.com/personalcreditca ... scard.html

It's probably worth underlining that as a USD card that sends you a bill in USD, it is really only helpful to those with USD income or who can otherwise obtain USD cheaply to pay the bill. If that's not you, you're going to be hit with forex fees every time you convert your CAD to pay the bill. Note that TD Canada Trust charges more than 2% to move CAD into a USD account. Canadians without USD income would be better off to get a Canadian card with no forex fees than to consider USD cards.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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Kiraly wrote:
Jun 16th, 2018 9:26 pm
Note that TD Canada Trust charges more than 2% to move CAD into a USD account. Canadians without USD income would be better off to get a Canadian card with no forex fees than to consider USD cards.
This was what I was wondering about, I thought it was free but I don't have any US income stream and 2% essentially negates the savings.
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efrant wrote:
Jun 16th, 2018 5:38 pm
@titaniumtux maybe in you FAQ point A as another reason to get this card is because it's a good/easy way to build your U.S. credit history.
Snuupy wrote:
Jun 16th, 2018 6:35 pm
Yes - only if you attach SSN/ITIN to the account.
Added to OP. Ty.
S5 wrote:
Jun 16th, 2018 8:53 pm
What does this mean?
@S5, @ProfessorChaos & @Kiraly...TD offers free wires between TD CT & TD Bank if one holds USD chq accounts on both sides. Most of us don't bother with that. We go with "de-bundle and save". Never buy USD from TD unless you have TD DI (which I don't, so I won't buy USD from them). I also don't have income in USD.

There are services that allow exchanging CAD->USD for near spot (<0.5% FTF) and sometimes can be combined with other services that would even reward us on the exchange. I'll buy small amounts of USD to cover the bills on rainy days, and buy larger amounts on sunny days when the rates do peak in our favour. But I'll still pay nearly no FTF on the conversion.

How you get USD is not the topic of this thread.

But granted if your outlet for buying USD charges you >2.5% FTF, then this card is not for you.
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titaniumtux wrote:
Jun 16th, 2018 9:39 pm
But granted if your outlet for buying USD charges you >2.5% FTF, then this card is not for you.
You're going to need an outlet for buying USD that charges far less than 2.5% to make this type of card better than Canadian cards, even less than 1% by my calculations.

For simplicity let's assume 1 USD = 1.25 CAD on mid-market.

Spend US $1,000 with TD Bank card, you get bill for US $1,000. if you can get USD for 1% over mid-market, you pay CAD $1,262.50. You also earn $10 USD cash back on the card. Net you pay is CAD $1,250.
Home Trust Visa: US $1,000 converts to CAD $1,255.00 after Visa takes its ~0.4% cut. You earn $12.55 cash back on that card. Net you pay is $1,242.45.
Even Rogers Platinum: US $1,000 converts to CAD $1252.50 after Mastercard's 0.2% cut. Net rewards after 2.5% fee and 3% cash back are $6.26, so net is $1,246.24.

Granted, if you can get USD cheaply, then USD cards make a lot of sense, and this is a good one. I just wanted the rest of RFD readers to be aware.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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I don’t understand why there is a need to have a US credit card.

I do have USD I can use to pay without conversion. Not worried there.
I do have a card billed in USD which I pay from my USD account.

The reason I kept that setup is to avoid bad USDCAD conversion rate. That’s about it.

So what am I missing? Are you guys doing all that wrestling just so you have a card with US address and billed in USD?

Besides if you don’t have USD cash already and you really need to cheaply convert every time and then use this card - the benefit is pretty much the same as using any Canadian no FX card. So I am really trying to figure out the added benefit here.

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