TD Cash Back Visa Infinite Review

• Earn up to $600 in value†, including 10% in Cash Back Dollars in the first 3 months on Bonus Eligible Purchases up to a total spend of $3,500†. Conditions apply. Offer effective as of January 7, 2025.
• Bonus Eligible Purchases are Gas Purchases, Grocery Purchases & Pre-authorized payments, until a total collective spend of $3,500 of such purchases have been made†.
• 24/7 Emergency Roadside Assistance with Deluxe TD Auto Club membership, included at no additional cost.
• Get an annual fee rebate for the first year†.
• To receive the first-year annual fee rebate for the Primary Cardholder, you must activate your Card and make your first Purchase on the Account within the first 3 months after Account opening. To receive the first Additional Cardholder first-year annual fee rebate, you must add your first Additional Cardholder while the offer is in effect.
• Starbucks Bonus Offer for New Linked Members†: Link your TD Cashback Visa Infinite to earn 600 Starbucks Stars and redeem them for free Starbucks treats. Limited time only. Conditions and restrictions apply.
• This offer is not available to residents of Quebec.
• † Terms and conditions apply.

Every time you buy groceries, gas, or pay a recurring bill with your TD Cash Back Visa Infinite* Card, you’ll earn 3% cash back. For every other purchase, the cash back rate is 1%. This earning potential alone is a selling point, but this card goes above and beyond by offering travel perks, extended warranty protection and a TD Auto Club Membership.

Travellers can enjoy peace-of-mind with up to $2 million dollars in travel medical insurance for the first 10 days of a trip (4 days for anyone 65 or older) as well as access to emergency travel assistance services and up to $1,000 in delayed and lost baggage insurance. Unfortunately, trip cancellation and trip interruption insurance are not included with the card, though they are available for purchase.

For a limited time, new cardholders earn 10% cash back on every purchase (gas, grocery, and pre-authorized purchases) made during the first three months (up to $3,500). Once the welcome bonus threshold is reached, after that base earn rate of 6% cash back will be applicable.

• 3% cash back for all grocery and gas station purchases, as well as on recurring authorized bill payments. 1% cash back on everything else.
• $139 (Get a first-year annual fee rebate)
• 10 days of up to $2 million dollars of emergency travel insurance (4 days for anyone 65 or older).

Earning Rewards

The TD Cash Back Visa Infinite* Card earns:

• Earn up to $600 in value†, including 10% in Cash Back Dollars in the first 3 months on Bonus Eligible Purchases up to a total spend of $3,500†. Conditions apply. Offer effective as of January 7, 2025.
• 3% cash back on groceries, gas and pre-authorized recurring payments (up to a cap of $15,000 per category per year, 1% after the limit is reached)
• 1% cash back on all other eligible purchases (no limit)
• Earn 50% more Stars when you link your card to your Starbucks Rewards account

Redeeming Rewards

Redeem cash back through the TD Mobile App or EasyWeb. You can redeem your cash back at any time, as long as you have accumulated a minimum of $25 in cash back. Cash back never expires, as long as your account is open and in good standing. Aside from a statement credit, you can also redeem your cash-back rewards for merchandise, education credits, goods from specific merchants and any other item TD may allow from time to time.

Rewards Potential

Forbes Advisor uses data from multiple government agencies in order to determine both baseline income and credit card spending averages across various categories. Based on average annual Canadian spending, this card could earn an estimated total of $425.15 per year, with the annual fee factored in.

That said, you could get more with the card’s welcome bonus. Consider the following example of a Canadian who spends $1,111 per month on gas, groceries and bills and $1,094 on other purchases (note: the annual fee is not factored in below).

The TD Cash Back Visa Infinite* Card has plenty of benefits for cardholders, including:

Visa Infinite Benefits  

• Complimentary Visa Infinite Concierge: An on-call concierge available 24 hours a day to help with major and minor requests.
• Visa Infinite Luxury Hotel Collection: Receive exclusive benefits when you stay at a Visa Infinite Luxury Hotel Collection, which includes over 900 properties.
• Visa Infinite Dining Series: Get access to exclusive culinary events.
• Visa Infinite Wine Country Program: Get perks like discounts, complimentary tastings and private tours at select wineries in British Columbia, Ontario and Sonoma Valley.
• Visa Infinite Entertainment Access: Access to events across Canada, such as exclusive benefits for the Toronto International Film Festival.
• Visa Infinite Troon Golf: Cardholders get a 10% discount on green fees, merchandise and lessons at select Troon Rewards golf courses. Also, get elevated Troon Rewards® Silver Status at over 95 courses.

Auto Benefits

• Free Deluxe TD Auto Club Membership: You’ll receive 24 hour coverage with Emergency Road Services.
• Auto Rental Collision/Loss Damage Insurance: Get this coverage at no additional cost when you pay for the full cost of your rental car with this card.
• Save with Avis Rent A Car and Budget Rent A Car: Save at least 10% off the lowest available base rates in Canada and the U.S. and a minimum of 5% off the lowest available base rates internationally.

Travel Insurance Benefits

• Travel Medical Insurance: Coverage of up to $2 million for the first 10 days. If you’re aged 65 or older, you and your spouse will get coverage for the first 4 days of a trip. Top-up coverage is available.
• Delayed and Lost Baggage Insurance: Coverage up to $1,000 per person.
• Emergency Travel Assistance Services: Toll-free services available in the event of an emergency when travelling.

Consumer Insurance Benefits

• Purchase Security and Extended Warranty Protection: Automatically applied to items purchased on your card, should they be stolen or damaged within 90 days of purchase.
• Mobile Device Insurance: Up to $1,000 of coverage if your mobile device is lost, stolen, accidentally damaged or mechanically breaks down.

Interest Rates

• Regular APR (Purchases): 20.99%
• Cash Advance: 22.99%

Fees

• Foreign Transaction Fee: 2.5%
• Annual fee: $139 (Get a first-year annual fee rebate. Terms and conditions apply.)†
• Any other fees: $50 for the first additional cardholder, $0 for subsequent cardholders.

TD Cash Back Visa Infinite* Card vs. Scotia Momentum Visa Infinite

Scotiabank’s card offers a slightly higher (4%) cash back reward for grocery purchases, recurring bills and subscriptions. Gas station and transit purchases earn 2% and every other purchase earns 1%. The spending caps are also slightly higher at $25,000 (compared with $15,000 on this card).

Overall, Forbes Advisor estimates the yearly net annual earnings, meaning the earnings minus the annual fee, of the Scotia Momentum Visa Infinite to be $491.14, higher than the $425.15 in net earnings from the TD Cash Back Visa Infinite. The Scotia Momentum Visa Infinite also comes with trip delay,trip cancellation insurance and travel accident insurance, which the TD Cash Back Visa Infinite does not include. So, if you travel frequently and want a little more cash back overall, the Scotia Momentum Visa Infinite is the better option for you.

TD Cash Back Visa Infinite* Card vs. CIBC Dividend Visa Infinite

With the CIBC Dividend Visa Infinite, cardholders earn 4% cash back on grocery and gas station purchases, as well as 2% cash back on recurring bills, dining and transportation purchases. Forbes Advisor Canada estimates its net annual earnings to be $537.50 (meaning the $139 annual fee has been factored in). Considering that the net earnings for the TD Cash Back Visa Infinite are $425.15, the CIBC Dividend Visa Infinite trumps it by $112.35 in annual net earnings.

That said, this CIBC card isn’t as accessible. To qualify for the CIBC Dividend Visa Infinite, applicants must have a “very good” or “exceptional” credit score in order to be approved, which makes it an unrealistic option for some.

TD Cash Back Visa Infinite* Card vs. ManulifeMONEY+ Visa Infinite

The ManulifeMONEY+ Visa Infinite is a no fee card that allows consumers to earn 2% cash back on grocery purchases and 0.5% cash back on everything else. For a no fee card, the ManulifeMONEY+ Visa Infinite has a surprising number of perks, including rental car insurance, purchase protection, extended warranty coverage and trip delay insurance. It’s also a great option for anyone looking to do a balance transfer. Unlike the TD Cash Back Visa Infinite, which doesn’t have a balance transfer offer, this card offers an introductory balance transfer rate of 1.99% for six months. However, the ManulifeMONEY+ Visa Infinite does pale in comparison to the TD Cash Back Visa Infinite when it comes to cash back earnings. Its net annual earnings are estimated at $229.25, compared to the $425.15 in net earnings the TD Cash Back Visa Infinite could provide.

When determining a rating for individual credit cards, the Forbes Advisor Canada editorial team factors in an exhaustive list of data points. With cash back, the scoring model used takes into account factors such as, but not limited to, cash back rates and categories, fees, welcome bonus and other rewards and features. Keep in mind, what may be best for some people might not be right for you. Conduct informed research before deciding which cards will best help you achieve your financial goals.

The TD Cash Back Visa Infinite* Card makes earning effortless. The fact that the spending categories are pre-determined, and that you don’t get to choose them, might feel limiting to some, but there’s something to be said for simplicity.

Overall, it’s a solid, well thought out card that comes with other “nice to have” features along with the cash back, like emergency medical insurance and car rental discounts. For most consumers, it’s well worth the $139 annual fee, which is rebated for the first year and for the annual value of your cash back rewards.

Our partners are not responsible for anything reported by Forbes Advisor. To the best of our knowledge, everything is accurate at the time of publishing as of the date posted. For full information and details, please visit the advertiser’s website.