I already have RBC USD Signature black VISA (issued by RBC Atlanta, Georgia), I guess there is no point getting this card then?
TD Cash Visa [TD Bank N.A.]
- Last Updated:
- Mar 2nd, 2024 2:49 pm
Tags:
- SCORE+46
- mkl38s
- Deal Fanatic
- Jan 21, 2014
- 8518 posts
- 6261 upvotes
- S5
- Deal Addict
- Oct 4, 2009
- 3590 posts
- 2953 upvotes
- Montreal
Thanks for your explanation.ProfessorChaos wrote: ↑ 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.
For the record, I believe this to be worth absolutely nothing. I guess one could argue there’s a psychological benefit to those who believe they are gaining some type of control/freedom. Dollars and cents, no benefit. If one believes in their currency movement prognostication abilities they should become currency traders and quickly make millions and eventually billions, forgetting this or other CC pittance.
Wealthsimple Premium
- S5
- Deal Addict
- Oct 4, 2009
- 3590 posts
- 2953 upvotes
- Montreal
Are you able to provide examples? Even if no longer available. Thanks.titaniumtux wrote: ↑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.
Wealthsimple Premium
- ProfessorChaos
- Deal Fanatic
- Oct 13, 2002
- 5708 posts
- 2278 upvotes
As an aside, I will try to keep as much of my money in Canada with the trade and political situation as is stands, maybe until the next President. I normally frequent SoCal in the fall but I'll stay at home this year. That changes to a Euro trip this year.
Journie: Use my promo code JR-ColinTOUM during registration, and you’ll automatically save 2¢/ L on your next fill-up. (Full disclosure: Once you do, I get a discount, too!)
- HermanH
- Deal Addict
- Apr 23, 2017
- 1226 posts
- 2234 upvotes
I find the main benefit of a USD card (whether issued in Canada or the US) is the ease of upfront conversion costs one time (buying a larger quantity of USD to fund a USD bank account) and then psychologically buying things and paying the card with USD giving the illusion that all one's US spend is at par with no FX, rather than worrying while away if the dollar is dropping for whatever reason.
If wants to to this, then of all the USD cards available to Canadians who have no SSN/ITIN, the TD Cash Visa is probably the best one for rewards. As the OP said, no AF, a sign up bonus, and real cash back. The RBC USD cards (gold issued in Canada and black issued in US) offer less rewards than the TD Cash card. The other USD cards for Canadians offer basically no rewards. So if one wants a USD card with rewards and has no SSN/ITIN, TD Cash is the best bet.
If wants to to this, then of all the USD cards available to Canadians who have no SSN/ITIN, the TD Cash Visa is probably the best one for rewards. As the OP said, no AF, a sign up bonus, and real cash back. The RBC USD cards (gold issued in Canada and black issued in US) offer less rewards than the TD Cash card. The other USD cards for Canadians offer basically no rewards. So if one wants a USD card with rewards and has no SSN/ITIN, TD Cash is the best bet.
- robsaw
- Deal Addict
- May 16, 2017
- 2809 posts
- 3663 upvotes
US address is just to establish an address within TD Bank's "footprint". Nothing needs to be sent there. They can and should use your Canadian mailing address.mbmbkop wrote: ↑ Thanks, OP. Lots of useful info. I wonder what exactly (if anything) is sent to the US address? Also, what “free mail forwarding service” would people recommend (for this and perhaps other US cards)?
EDIT: Looking at the application form now.. I assume that one needs to check the box indicating that you are a US resident, but what should be put as the last 4 digits of your SSN in the first page if one only uses SIN to apply? Also, how do they notify you if you’ve been approved (email? Mail? To what address?), and how long does it take to actually receive this card?
EDIT 2: they indicate a 1-855 number to fax the application to on the application form which is different from the number in the OP. Is it perhaps better to use that number?
Do not check box indicating US Resident. Check box for "other" with respect to the US address and do not enter any other details regarding that address. Put XXXX for last 4 digits of SSN. You want to check the box indicating Canadian address as mailing address and complete all relevant details with respect to that address.
- titaniumtux [OP]
- Deal Expert
- May 8, 2009
- 15560 posts
- 14184 upvotes
- Going to the Moon
@Kiraly you're right that this card is not for everyone. I included info in OP to describe those who need not apply for this card.
Rather than asking "are you sure" questions, why not provide supplementary info based on experience so we can all benefit?
For notification, didn't think that was important. I called in to find out about approval and CL. They'll eventually mail you, but you can call in to find out.
RBC visa signature black:
dekvitaly wrote: ↑ 1. USD card issued by Canadian bank gives you no reward, rather a fake "borderless" card.
2. US Card issued by American Banks give you better rewards worldwide.
3. Lots of people here use US cards and take advantage of fluctuation CAD/USD, real money saving right there.
4. Up to you to decide/
- USD cards when used in the US for not benefit from superior merchant acceptance if issued in Canada (meaning Rogers MC WE and HomeTrust Preferred are obviously far superior to those lousy USD cards issued in Canada)
- +1
OP has a tutorial that works. Feel free to fax to toll-free or to email. If your application is successfully processed through those means, feel free to report back and I can update OP.mbmbkop wrote: ↑
Thanks, OP. Lots of useful info. I wonder what exactly (if anything) is sent to the US address? Also, what “free mail forwarding service” would people recommend (for this and perhaps other US cards)?
EDIT: Looking at the application form now.. I assume that one needs to check the box indicating that you are a US resident, but what should be put as the last 4 digits of your SSN in the first page if one only uses SIN to apply? Also, how do they notify you if you’ve been approved (email? Mail? To what address?), and how long does it take to actually receive this card?
EDIT 2: they indicate a 1-855 number to fax the application to on the application form which is different from the number in the OP. Is it perhaps better to use that number?
Rather than asking "are you sure" questions, why not provide supplementary info based on experience so we can all benefit?
For notification, didn't think that was important. I called in to find out about approval and CL. They'll eventually mail you, but you can call in to find out.
+1
No point?
RBC visa signature black:
- 1.5% FTF, including on USD charged outside of the US. Going to Ecuador or Panama where USD is the official currency? RBC card charges 1.5% FTF, even though you're spending in stars and stripes
- can't vouch for merchant acceptance since Americans can't get that card unless they have a credit history with RBC in Canada
- No category-specific accelerators on cashback
Use TD Cash in Europe. No FTF. Better cashback than HomeTrust Preferred. You're gonna eat out in Europe, right?ProfessorChaos wrote: ↑As an aside, I will try to keep as much of my money in Canada with the trade and political situation as is stands, maybe until the next President. I normally frequent SoCal in the fall but I'll stay at home this year. That changes to a Euro trip this year.
Leave SSN field blankrobsaw wrote: ↑
US address is just to establish an address within TD Bank's "footprint". Nothing needs to be sent there. They can and should use your Canadian mailing address.
Do not check box indicating US Resident. Check box for "other" with respect to the US address and do not enter any other details regarding that address. Put XXXX for last 4 digits of SSN. You want to check the box indicating Canadian address as mailing address and complete all relevant details with respect to that address.
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]
- bend3r
- Deal Addict
- May 7, 2017
- 1359 posts
- 861 upvotes
Except that I don't have a borderless card. I have an Amex billed in USD and I get MR points.dekvitaly wrote: ↑ 1. USD card issued by Canadian bank gives you no reward, rather a fake "borderless" card.
2. US Card issued by American Banks give you better rewards worldwide.
3. Lots of people here use US cards and take advantage of fluctuation CAD/USD, real money saving right there.
4. Up to you to decide/
Taking advantage of fluctuations is exactly my point. You can only take advantage if you bought USD when CAD was stronger, it doesn't work if you convert every time you have to pay your bills.
- bend3r
- Deal Addict
- May 7, 2017
- 1359 posts
- 861 upvotes
This I can understand. Perhaps a future move to US and taking a mortgage etc.
But I do have a question here. AMEX/HSBC can transfer your credit history to US - so does it matter in this case The only downside I see is that with TD card, the history build can be used with any other bank in US. With HSBC I am pretty much stuck with HSBC.
- mbmbkop
- Deal Addict
- Dec 27, 2013
- 2147 posts
- 959 upvotes
I just noticed that that 1-855 number on the application form is followed by a note that applicants who are not 21 yet need to fax their applications to [number listed in the OP]titaniumtux wrote: ↑ OP has a tutorial that works. Feel free to fax to toll-free or to email. If your application is successfully processed through those means, feel free to report back and I can update OP.
Rather than asking "are you sure" questions, why not provide supplementary info based on experience so we can all benefit?
While I do not yet have any first-hand experience with this card myself I suggest to actually discuss this in the OP so that people can make informed decisions about whether or not they should follow the OP to the letter... Of course, I am making a wild guess here that most people interested in this card are over 21.
- titaniumtux [OP]
- Deal Expert
- May 8, 2009
- 15560 posts
- 14184 upvotes
- Going to the Moon
Product threads aren't a discussion in OP. I posted a recipe known to work. If more confirmed info is brought up in thread, I can add it to OP, as I've been doing.mbmbkop wrote: ↑ I just noticed that that 1-855 number on the application form is followed by a note that applicants who are not 21 yet need to fax their applications to [number listed in the OP]
While I do not yet have any first-hand experience with this card myself I suggest to actually discuss this in the OP so that people can make informed decisions about whether or not they should follow the OP to the letter... Of course, I am making a wild guess here that most people interested in this card are over 21.
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]
- efrant
- Deal Fanatic
- Jan 4, 2011
- 7371 posts
- 9176 upvotes
- Montreal
Yup, I do hope to buy some property in Florida at some point.
Not sure about HSBC, but Amex doesn't transfer your credit history to the U.S. -- they approve you for one card based on your Canadian history with them. Once you got that first Amex, they won't base anything else on your Canadian history, so you are on your own. Having and using multiple cards (from multiple issuers) should, I suspect, improve your U.S. history faster than just using one card.
- Altera
- Deal Addict
- Jan 16, 2016
- 1477 posts
- 1139 upvotes
- Hamilton, ON
As the other person quoted you, that’s right that they’ll just give you a card based on your prior history with them but can’t actually backdate information to a US credit bureau.bend3r wrote: ↑ This I can understand. Perhaps a future move to US and taking a mortgage etc.
But I do have a question here. AMEX/HSBC can transfer your credit history to US - so does it matter in this case The only downside I see is that with TD card, the history build can be used with any other bank in US. With HSBC I am pretty much stuck with HSBC.
If you decide to do this you limit yourself to only getting a mortgage from the institution which you do business with, and we all know that it may not be the best rate.
- Snuupy
- Sr. Member
- Feb 28, 2011
- 774 posts
- 732 upvotes
- YYZ
If you check my post on the other thread (http://forums.redflagdeals.com/us-bank- ... #p29462530)
(search for the post containing "your card is paid in USD and your transaction currency")
If all we look at is cashback and that it costs 0.45% to use visa to convert USD -> CAD:
dining: 2.55%
groceries: 1.55%
else: 0.55%
Depending on how you convert currency, still better than tangerine 2%.
(search for the post containing "your card is paid in USD and your transaction currency")
If all we look at is cashback and that it costs 0.45% to use visa to convert USD -> CAD:
dining: 2.55%
groceries: 1.55%
else: 0.55%
Depending on how you convert currency, still better than tangerine 2%.
I do not respond to requests that are only for private, one-on-one technical help. Your questions should be posted in the appropriate thread where they may help others as well.
- torvalds
- Newbie
- Jul 28, 2015
- 18 posts
- 7 upvotes
- Toronto, ON
Thanks for your informative post. But which border parcel service did you use? Interested in free/very low cost-no commitment ones.titaniumtux wrote: ↑
- grab a free mail forwarding service or border warehouse parcel service on the east coast. That will be your new US address for footprint
- titaniumtux [OP]
- Deal Expert
- May 8, 2009
- 15560 posts
- 14184 upvotes
- Going to the Moon
+1coopercold wrote: ↑ Some data:
- Faxed my application on June 18.
- Credit file was pulled on June 19.
- Called today (June 20) and they said my application was pending.
FYI: For information about your application, call TD Bank Credit Card services at 888-561-8861 (thanks @titaniumtux), not the Cross-Border Banking line.
Didn't know there was a dedicated cross-border banking line at TD. I think TD offers virtually no hand-holding for their cross-border products available to us, which is why TD Cash is so competitive compared to lousy RBC visa signature black
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]
- efrant
- Deal Fanatic
- Jan 4, 2011
- 7371 posts
- 9176 upvotes
- Montreal
Unlike RBC Bank in the U.S., TD Bank in the U.S. (which is a merger of two U.S. banks, Banknorth and Commerce Bancorp, bought by TD ) is full service U.S. bank serving U.S. customers. It's essentially a separate company, so there is an "in-between" group to facilitate cross-border banking. TD Bank reps don't really know anything about TD Canada Trust and vice-versa, hence the need for a cross-border team. That team is the one that takes care of Canadian customers banking in the U.S. The cross-border phone number is essential for anyone wanting to transfer money North to South or South to North. It's much easier to transfer money by calling in rather than doing it yourself online. 1-877-700-2913titaniumtux wrote: ↑ +1
Didn't know there was a dedicated cross-border banking line at TD. I think TD offers virtually no hand-holding for their cross-border products available to us, which is why TD Cash is so competitive compared to lousy RBC visa signature black
- titaniumtux [OP]
- Deal Expert
- May 8, 2009
- 15560 posts
- 14184 upvotes
- Going to the Moon
+1efrant wrote: ↑ Unlike RBC Bank in the U.S., TD Bank in the U.S. (which is a merger of two U.S. banks, Banknorth and Commerce Bancorp, bought by TD ) is full service U.S. bank serving U.S. customers. It's essentially a separate company, so there is an "in-between" group to facilitate cross-border banking. TD Bank reps don't really know anything about TD Canada Trust and vice-versa, hence the need for a cross-border team. That team is the one that takes care of Canadian customers banking in the U.S. The cross-border phone number is essential for anyone wanting to transfer money North to South or South to North. It's much easier to transfer money by calling in rather than doing it yourself online. 1-877-700-2913
Except I don't want their bank accounts, only TD Bank's credit card. I can use TransferWise and do banking in the US elsewhere.
Premium Life: CDC [Icey Private Status]/SwissBorg Genesis/InLock/Netflix UHD [100% off]/Amazon [Prime 100% off]/Instacart [Express]
- efrant
- Deal Fanatic
- Jan 4, 2011
- 7371 posts
- 9176 upvotes
- Montreal
mbmbkop wrote: ↑ I just noticed that that 1-855 number on the application form is followed by a note that applicants who are not 21 yet need to fax their applications to [number listed in the OP]
While I do not yet have any first-hand experience with this card myself I suggest to actually discuss this in the OP so that people can make informed decisions about whether or not they should follow the OP to the letter... Of course, I am making a wild guess here that most people interested in this card are over 21.
P.S. I can confirm that the main 855 fax number on the application form works. (The one listed in the OP that also works is apparently for those under 21.)titaniumtux wrote: ↑ Product threads aren't a discussion in OP. I posted a recipe known to work. If more confirmed info is brought up in thread, I can add it to OP, as I've been doing.
- efrant
- Deal Fanatic
- Jan 4, 2011
- 7371 posts
- 9176 upvotes
- Montreal
And that's perfectly fine. I was just trying to explain that the reason there is a big difference between TD Bank's card offers and RBC Bank's offers is not because there is no cross-border group at TD, but because TD Bank has to offer a product that U.S. customers would be interested in, while RBC Bank is not competing for U.S. customers, so they really have no incentive to offer something better, particularly given that the cards don't require a U.S. address.titaniumtux wrote: ↑ +1
Except I don't want their bank accounts, only TD Bank's credit card. I can use TransferWise and do banking in the US elsewhere.