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TD Bank only offers credit cards to customers based in Connecticut, Delaware, District of Columbia, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, and Virginia. If you aren't physically located in one of these states, you'll be unable to apply for TD Bank credit cards discussed below.
TD Bank has released several new credit card products to the U.S. market over the last few years, offering straightforward rewards to cardholders. The TD Cash Credit Card jumps out as a potentially rewarding cash-back credit card, at least as part of a larger card portfolio.
Let's dig into the details to see if the TD Cash Card is right for your wallet.
- Special offer: Earn $200 Cash Back when you spend $1,000 on eligible purchases within the first 90 days of opening your account.
- Select your top two spending categories to earn unlimited 3% and 2% Cash Back. Earn 1% Cash Back on all other eligible purchases.
- Change your spending categories up to four times a year.
- $0 annual fee.
- Only available to residents of CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, or VT.
When you open your card, you'll start with:
- 3% cash back on Dining
- 2% cash back at Grocery Stores
- 1% cash back on everything else
Then, every quarter you can choose your 3% and 2% cash back spending categories from:
- Dining
- Entertainment
- Gas
- Grocery Stores
- Travel
All other purchases earn 1% cash back.
Page Contents
TD Cash Card Pros
- Choose your top two spend categories to earn unlimited 3% and 2% Cash Back.
- 0% introductory APR balance transfers for 15 billing cycles.
- $0 annual fee.
TD Cash Card Cons
- Applications are restricted to residents in select U.S. states.
- Category selections are limited to once per quarter.
- Minimum threshold to redeem cash back rewards.
- Charges foreign transaction fees — 3% of each transaction in U.S. dollars.
TD Cash Card Welcome Offer
The TD Cash Card does have a welcome offer; earn $200 cash back when you spend $1,000 within the first 90 days after account opening.
This bonus isn't groundbreaking, but it's a pleasant sight to see, given the TD Cash Card is a no-annual-fee product. Also, $200 cash back is equivalent to a 15% return on the first $1,000 you spend on the card. Better yet, the additional cash back on gas station purchases can be attractive to rideshare drivers or even families planning a road trip.
Related: Best Rewards Credit Card Offers This Month
TD Cash Card Earning Rates
The earning rates on the TD Cash Card are a bit convoluted to keep track of but can be quite rewarding. Here's a breakdown of how they work:
When you open your card, you'll start with:
- 3% cash back on Dining
- 2% cash back at Grocery Stores
- 1% cash back on everything else
Then, every quarter you can choose your 3% and 2% cash back spending categories from:
- Dining
- Entertainment
- Gas
- Grocery Stores
- Travel
All other purchases earn 1% cash back.
It's worth restating that you can only change these categories once per quarter. Once you make a change, it will go into effect in the next quarter. Thus, you'll need to set calendar reminders to pick your categories; otherwise, you'll potentially leave rewards on the table.
Related: Credit Cards Featuring Rotating Bonus Categories
Redeeming Rewards With the TD Cash Card
One caveat about the TD Cash Card‘s reward structure is the threshold for cash back redemptions. While it's effectively a cash-back card, it earns points redeemable for cash back. Every dollar you spend on the card earns at least one point; a purchase in the 3% category earns three.
To redeem your cash back on the card, you'll need to earn 2,500 points — equivalent to $25 in rewards. That equates to a minimum of $2,500 in spending, though roughly $833 if you exclusively spend within your 3% category.
Once you reach this threshold, you can redeem points for 1¢ apiece towards cash back, gift cards, merchandise, or travel. Your rewards will never expire as long as your account is open and in good standing.
TD Cash Card Benefits
Cardholders can enjoy four primary benefits. Here's an overview.
Introductory 0% APR on balance transfers
The TD Cash Card offers 0% introductory APR balance transfers for first 15 billing cycles after account opening. After that 19.24%, 24.24% or 29.24% variable APR based on your credit worthiness.. A balance transfer fee of Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within the introductory offer. After that: Either $5 or 5% of the amount of each transfer, whichever is greater. will apply.
Compared to other cards offering 0% introductory APR balance transfers, the TD Cash Card stands out; it's much longer than what many others offer.
Cell phone protection
Benefits like cell phone protection have been crucial for me in the past when my expensive phone screen has cracked. I've used them instead of paying for expensive repairs or costly plans like AppleCare.
The TD Cash Card features this benefit as part of being a Visa Signature card. Keep in mind that you'll need to pay your monthly cell phone bill with this card to qualify for coverage. This coverage is limited to $500 per claim, up to two claims per 12-month period, and there's a $50 deductible.
Theft, loss, and extended warranty protection
The TD Cash Card offers several protections for shoppers, also as part of being a Visa Signature product. The first is theft and loss protection. This coverage protects purchases you make on your card that are stolen or damaged due to vandalism, fire, water, or certain weather conditions within 90 days of ownership. Cardholders can file a claim for up to $500 and up to $50,000 in total claims over the life of your account.
Another benefit is extended warranty protection, which extends the warranty by one year for select purchases with warranties of five years or less.
Travel benefits and protections
The TD Cash Card has several additional travel protection benefits courtesy of its Visa Signature designation. These include:
- Visa Luxury Hotel Collection: Enjoy special guest status at Visa Signature Luxury Hotel properties.
- Lost luggage reimbursement: Get reimbursed up to $3,000 for your checked or carry-on luggage if your luggage is lost due to theft or misdirection by the common carrier. To take advantage of this benefit, you'll need to purchase your ticket with the TD Cash Card.
- Car rental benefits: Enjoy special savings and complimentary rental upgrades (when available) with select agencies.
- Travel and emergency assistance services: Get emergency assistance by calling the Benefits Administrator.
- Roadside dispatch: 24/7 roadside service; services rendered are pay-per-use.
Application Restrictions
The most significant restriction on the TD Cash Credit Card is the geographical restrictions to become a cardmember. You'll need to be living in a state that has a TD branch, which includes:
- Connecticut
- Delaware
- Florida
- Maine
- Maryland
- Massachusetts
- New Hampshire
- New Jersey
- New York
- North Carolina
- Pennsylvania
- Rhode Island
- South Carolina
- Vermont
- Virginia
- Washington, D.C.
Geography aside, TD Bank has few of the application rules and restrictions you'll run into with other issues. There are no published limitations on the number of TD cards you can have at once, nor are there restrictions on the amount of time that needs to elapse between applications. That said, you should remember that frequent applications for credit can negatively impact your credit score.
Cards That Compete With the TD Cash Card
In the cash back space, there are many low- or no-annual-fee cards that compete with the TD Cash Card. So, if the TD Cash Credit Card isn't right for you, that's okay! Here are three additional options to consider:
- If you'd rather earn 2% cash back all eligible purchases instead of managing spending categories, check out the TD Double Up℠ Credit Card. The TD Double Up Card has the same application restrictions as the TD Cash Card but offers an unlimited 2% Cash Back on all eligible purchases. It also has no annual fee. To learn more, dive into our full TD Double Up Card review.
- If you're ineligible for the TD Cash Card because of geographic restrictions, consider the Wells Fargo Active Cash® Card. The Active Cash Card offers unlimited 2% cash rewards on purchases and a valuable welcome offer — all with a $0 annual fee. For more information, check out our full Active Cash Card review.
- If you prefer a cash-back card with bonus spending categories, look into the Chase Freedom Unlimited®. The Freedom Unlimited offers 5% on travel purchased through Chase Travel℠, 3% on dining at restaurants and drugstores, and 1.5% on other eligible purchases. And it has no annual fee. Learn more about the Freedom Unlimited in our comprehensive review.
- Unlimited 2% Cash Back on every eligible purchase
Rates & Fees
- Earn unlimited 2% cash rewards on purchases
- Earn 5% on purchases through Chase Travel℠
- Earn 3% on dining at restaurants
- Earn 3% on drugstore purchases
- Earn 1.5% on all purchases
Related: The Best Cash-Back Credit Card Offers
Bottom Line
On balance, the TD Cash Credit Card can offer plenty of value to potential cardholders. Earning up to 3% cash back in the category of your choice without an annual fee attached is a great reason to consider the card in and of itself.
However, the geographical limitations on who can apply mean it's not for all Americans. And while it does offer some benefits, like cell phone protection, the fact that you must make your category selections each quarter might be one of the card's biggest drawbacks.
If you don't remember to make your selection, you could lose out on valuable rewards. So, while the TD Cash Card has a lot of potential, you might be better off looking into easier-to-use cards that offer identical or near-identical rewards.
- Special offer: Earn $200 Cash Back when you spend $1,000 on eligible purchases within the first 90 days of opening your account.
- Select your top two spending categories to earn unlimited 3% and 2% Cash Back. Earn 1% Cash Back on all other eligible purchases.
- Change your spending categories up to four times a year.
- $0 annual fee.
- Only available to residents of CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, or VT.
When you open your card, you'll start with:
- 3% cash back on Dining
- 2% cash back at Grocery Stores
- 1% cash back on everything else
Then, every quarter you can choose your 3% and 2% cash back spending categories from:
- Dining
- Entertainment
- Gas
- Grocery Stores
- Travel
All other purchases earn 1% cash back.
For rates and fees of the cards mentioned in this post, please visit the following links: Chase Freedom Unlimited® (Rates & Fees)
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