TD Bank TD Cash Credit Card Review: Customizable Cash Back with No Annual Fee
Unlock flexible rewards with no annual fee! The TD Cash Credit Card lets you customize your cash back categories for elevated earnings up to 3%, plus enjoy a $200 bonus and an introductory APR offer.
| Annual Fee | $0.00 |
| Sign-up Bonus | $200 Cash Back |
| Rewards Rate | 1%-3% Cash Back |
| Intro APR | 0% introductory APR for first 12 billing cycles after account opening on purchases. 0% introductory APR for first 15 billing cycles for balance transfers made within the first 90 days of account opening. Balance transfers must be completed within the first 90 days of account opening. |
| Regular APR | After that, 18.49%, 23.49% or 28.49% variable APR based on your creditworthiness. APR for Cash Advances 28.74% variable APR |
| Other Fees | Balance Transfer Fee Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within the first 90 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater. Minimum Interest Charge $1 Cash Advance Fee $10 or 5% of advance whichever amount is greater Foreign Transaction Fee 3% of each transaction in U.S. dollars Late Payment Fee Up to $40 Return Payment Fee Up to $40 |
Overview
The TD Cash Credit Card offers a compelling combination of flexibility and value, especially for a card with no annual fee. Its standout feature is the customizable cash back program, which allows you to choose two spending categories each quarter to earn unlimited 3% and 2% cash back, respectively. This puts you in control of your rewards, making it easy to maximize earnings on your most frequent purchases. The card also comes with a generous sign-up bonus: earn $200 cash back after spending $1,000 within the first 90 days, which is a highly competitive offer for a no-fee card.
Beyond the rewards, this card provides a solid 0% introductory APR period on both new purchases and balance transfers, giving you time to pay down a large purchase or consolidate debt without interest. However, be mindful that once the intro period ends, the regular variable APR can be quite high. The card also charges a foreign transaction fee, making it less than ideal for use abroad.
Ultimately, the TD Cash Credit Card is an excellent choice for budget-conscious consumers who want to earn elevated rewards in specific categories without paying an annual fee. It’s best suited for those who can take advantage of the customizable bonus categories and who plan to pay their balance in full each month to avoid the high ongoing interest rates.
Pros & Cons
What's great
- No annual fee
- Generous sign-up bonus
- Intro APR period
- High rewards rate
- Cashback on purchases
- Rotating bonus categories
Things to consider
- High regular APR
- Foreign transaction fees apply
- High balance transfer fee
Benefits
Generous Welcome Offer
Right out of the gate, the TD Cash Credit Card presents a valuable and easy-to-earn welcome bonus. New cardholders can earn $200 Cash Back after spending just $1,000 within the first 90 days of opening an account. For a card that charges no annual fee, this is a highly competitive offer. The spending requirement is quite reasonable, making the full $200 bonus accessible to the average spender.
Customizable Cash Back Rewards
The standout feature of this card is its flexible rewards program, which puts you in control. Instead of being limited to fixed bonus categories, you can choose your own 3% and 2% cash back categories from a list of options each quarter, while all other purchases earn an unlimited 1% cash back. This unique structure allows you to tailor the card to your spending habits as they change throughout the year—for example, you could select "Dining" for your 3% category in the summer and switch it to "Groceries" during the holiday season. This adaptability makes it an excellent tool for maximizing returns on your top two spending areas.
Valuable Introductory APR and Protections
Beyond rewards, the card provides practical value for managing your finances. It comes with a 0% introductory APR for the first 12 billing cycles on purchases and for the first 15 billing cycles on balance transfers made within 90 days of account opening. This makes it a solid choice for financing a large purchase or paying down existing debt interest-free. As an added perk, the card includes cell phone protection when you pay your monthly mobile bill with your card—a valuable Visa benefit that can save you money on costly repairs or replacements.
Drawbacks
The biggest drawback of the TD Cash Credit Card is its potential for a high ongoing APR. Once the introductory 0% APR periods for purchases and balance transfers expire, the regular variable APR can range up to 28.49%. This makes the card a costly choice for anyone who anticipates carrying a balance, as steep interest charges could quickly negate the value of any cash back earned.
The card also comes with a few fees that limit its versatility. A 3% foreign transaction fee makes it unsuitable for international travel, as many competing no-annual-fee cards have eliminated this charge. Furthermore, while the introductory balance transfer fee is standard, it increases to 5% of the transfer amount after the first 90 days, which is higher than the industry average and reduces its appeal for long-term debt consolidation.
Finally, while the customizable rewards are a strength, they require active management. To maximize earnings, you must remember to choose your 3% and 2% cash-back categories each quarter. Spending outside of these selected categories only earns a standard 1% back, which is less rewarding than what some flat-rate cash-back cards offer on all purchases.
Decision Guidance
This card is ideal for strategic spenders who want to maximize cash back in specific areas without paying an annual fee. The ability to choose your own 3% and 2% bonus categories each quarter offers exceptional, customized value if your spending habits align. However, its foreign transaction fees make it a poor choice for international travel, and the high ongoing APR means it's best for those who consistently pay their balance in full.
Summary
The TD Cash Credit Card is an excellent no-annual-fee option that puts you in the driver's seat, letting you choose your own 3% and 2% cash back categories each quarter to match your spending habits. While its high ongoing APR and foreign transaction fees make it a poor choice for carrying a balance or traveling abroad, it's a perfect fit for strategic spenders who want to maximize rewards on their most frequent purchases without being locked into fixed bonus categories.