Personal Finance

TD Gold Elite Visa or Cash Back Mastercard?

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  • May 27th, 2015 3:35 am
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[OP]
Banned
Apr 11, 2015
40 posts
8 upvotes
Belleville, ON

TD Gold Elite Visa or Cash Back Mastercard?

My TD Visa is set to expire and has been discontinued so I need to pick a new card. TD informed me they will send the Cash Back Mastercard automatically. I was wondering if the Gold Elite would be worth getting instead? I would have to upgrade my account to avoid the $100 fee which has a minimum balance of $5000. Current minimum is $3000. Or perhaps they have an even better card I should get? I gross $60,000 which I know is a factor sometimes. I'm not interested in a card from a different establishment.
13 replies
Sr. Member
Dec 22, 2013
930 posts
223 upvotes
EDMONTON
If you're going to upgrade accounts, the Visa Infinite card is way better IMO. But honestly, I'd shop around if you're looking for a new card. TD's aren't all that great.
Deal Addict
User avatar
Aug 14, 2009
2171 posts
964 upvotes
London
You'd have to get the all-inclusive account which is pretty awesome, but the $5000 balance is quite high to waive the MMB. Gold Elite is good if you want to use the TD auto deluxe membership. Are you with CAA or anything? I believe you're better off with the Gold Elite if you have CAA because you can just cancel that and use this card and its perks. The cashback is slightly better than the MC as well. I'd have to recommend getting the TD first class infinite visa though (but it also depends on your needs), that's what I use myself and love the card. Travelling is great with it, and points accumulate so fast. I charge absolutely everything to it.

It's really up to you. I'd get the Gold Elite or First Class if you want to maintain that $5000 MMB. Otherwise, I'd go for the cashback mastercard from TD, but the interest is quite low on it.
[OP]
Banned
Apr 11, 2015
40 posts
8 upvotes
Belleville, ON
On a dollar for dollar basis the Infinite would earn me more?
Newbie
Aug 13, 2007
29 posts
8 upvotes
jackson14 wrote: On a dollar for dollar basis the Infinite would earn me more?
if you travel yes: 4.5% cash back on expedia booked trips and 1.5% everything else. I've switched from TD gold elite to first class. Got 20K points too
Deal Fanatic
User avatar
Nov 23, 2005
8918 posts
5564 upvotes
the_martian wrote: if you travel yes: 4.5% cash back on expedia booked trips and 1.5% everything else. I've switched from TD gold elite to first class. Got 20K points too
+1

Now they are giving 40k points for getting the card which is $200 worth of travel.
Deal Addict
Feb 10, 2013
4537 posts
1092 upvotes
Richmond
if you want to stay with td, check out the mbna cards. much better than what td offers in house.

mbna rtp, mbna rwe, mbna smart cash. mbna rwe is annual fee but 2% . worth it if you spend enough.
Deal Fanatic
Sep 9, 2003
9075 posts
2676 upvotes
Burnaby
Until TD all inclusive waives MBNA cards, it's a non starter.

The gold elite is overpriced normally but decent if the fee is waived. You'd really have to use the safety deposit box though, otherwise the BMO premium plan has all the other features but with better credit cards with the same fee waiver (1.75 cashback MasterCard or 2 percent travel MasterCard)
Deal Fanatic
User avatar
Sep 7, 2004
8009 posts
4895 upvotes
West GTEH!
jackson14 wrote: My TD Visa is set to expire and has been discontinued so I need to pick a new card. TD informed me they will send the Cash Back Mastercard automatically.
Did TD not offer you to continue on with your TD Visa. Just because the expiry date on the card is ending doesn't mean the card has to also expire.
Would TD not "Grandfather" your account. I would think if your account is in good standing they would just send you a renewal card with new expiry date.
Unless I'm missing something here(?).
😎
Banned
Nov 17, 2014
942 posts
757 upvotes
Ontario
^ The TD Visa Rebate Reward has been discontinued that is why they are sending customers of that the MasterCard.
Newbie
May 24, 2015
2 posts
I was curious too about TD offered cards.
I have a TD Aeroplan Visa that's currently my 2nd card to my Amex gold scotiabank.
I'm up for renewal soon so I'm debating what I should swap that Visa card for with TD. Don't qualify yet for the first class (income) and I don't really like tying 5k for free all-inclusive. I don't mind holding 3k+ balance for the free chequing account but that's all I need. Doesn't make sense to lock 5k for an account I won't need.
Anyone have any input on which card to swap to? Already OK with spending on annual fee for the Amex Scotia gold but to pay for my secondary card makes no sense.

Had a hard pull for my auto loan ~2 months ago, don't really feel like applying to a new credit card company in such a short period. That's the only inquiry in the last 2 years though..

Since Amex has annual fee, feel like I need a mc/visa as a good backup. But prefer to have a lowered fee...

Sorry if swapping a bit on the topic, but appreciate any insight
Member
Oct 30, 2013
298 posts
37 upvotes
GTA
I would say the First Class Travel Visa Infinite (way too long of a name) is a really good card, the rewards are absolutely top-notch. Sure the AMEX cards have an edge on Visa but then again, AMEX are always big on points due to merchants not accepting AMEX to begin with.

It all comes down that first class infinite card has the 1.5% cash back rate on all transactions, 4.5% rate with expedia at TD transactions with lots of insurance and rewards from TDRewards.

There is a deal going with GCR where you get 200$ opening bonus (100$ without deal with TD anyways), first year fee waived, and $62.50 rebate.
Seems too good of a deal for a free card, I say use it for a year and see if its good, if not, close before renewal RFD-style.

I personally like this card over the Aeroplan anyday.
Newbie
May 24, 2015
2 posts
Agree with you 100% but I don't meet the min salary just yet. May be the case next year..then it's difficult to invest in two different rewards programs. Thanks for the advice
Deal Addict
Feb 10, 2013
4537 posts
1092 upvotes
Richmond
even if you don't meet it, talk to the rep in branch about your options and mention what you would be interested in. Td Can do product switch to a different card for you so i'm guessing no hard pull

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