Why we like this card: Custom spending categories make this $0 annual fee card a lucrative option. The only caveat is that you must be an East Coast resident to qualify.
Pros
- 0% intro APR on balance transfers
- No annual fee
- Customizable spend categories
Cons
- Foreign transaction fee
- Available only to residents of select states
- Small welcome bonus
TD Cash Credit Card: Overview
APR
- Intro: 0% APR for the first 12 billing cycles after account opening. After that, 20.24%, 25.24%, or 30.24% variable
- Purchase: 20.24%, 25.24%, or 30.24% variable
- Balance transfer: 20.24%, 25.24% or 30.24% variable
- Cash advance: 30.49% variable, plus a fee of either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty: penalty APR is not disclosed in the terms and conditions, but there is a fee of up to $40 for late and returned payments
Annual fee: None
Foreign transaction fee: 3% of each transaction in U.S. dollars
The TD Cash Credit Card is a $0 annual fee card that allows cardholders to choose which spending categories they want to earn more rewards in, making it easier to maximize cashback. Every quarter, you can determine which spending categories you want to earn 3% and 2% cash back in, with no cap on the rewards you can earn, unlike similar cards on the market.
While this card offers generous rewards, it’s not available to everyone. To be eligible for the card, you must be located within TD Bank’s footprint. Only residents of these East Coast states are eligible: CT, DE, FL, ME, MD, MA, NC, NH, NJ, NY, PA, RI, SC, VA, VT, and DC.
TD Cash Credit Card: Points
The major perk of the TD Cash Card is that you can personalize the spending categories. Cardholders can choose which categories to earn 3% and 2% cash back every quarter—though the card defaults to 3% cash back on dining and 2% at grocery stores. Plus, you’ll earn 1% back on all other eligible purchases.
You can choose from categories like dining, entertainment, gas stations, grocery stores, and travel.
And for a limited time, cardholders receive a grocery store benefit. You can earn up to 6% cash back for six months from account opening or up to $6,000 in spend. This means you could earn up to $360 cashback.
The grocery offer works like this: Cardholders get an additional 3% cash back on grocery store purchases. If you leave your card on the default 2% cash back at grocery stores, you’d earn 5% cash back. But if you wanted to earn even more rewards, you could make the 3% cashback category grocery stores, and you’d earn 6%.
Does TD Cash Credit Card offer a new customer bonus?
With the TD Cash Credit Card, customers can earn $150 back if they spend $500 within the first 90 days after account opening.
How to redeem TD Cash Credit Card points
Even though this is a cash back card, you earn points instead of cash back, which gives you more flexibility in redeeming your rewards.
One point is worth one cent when redeemed for cash back, gift cards or travel. However, if you purchase merchandise, the redemption value varies.
Receive cash back
To redeem your points for cash back, you must have a minimum of 2,500 points accumulated. You can then redeem for a statement credit or a direct deposit into a checking or savings account at a financial institution in the U.S.
Buy merchandise and gift cards
Through TDRewards.com, cardholders can purchase goods like appliances, electronics, and accessories with their points. You can also use points to buy gift cards from merchants like Apple, Costco, and more.
Additional benefits
- Cell phone protection. When you use your card to pay your phone bill, you may be eligible to receive a reimbursement if your phone is stolen or damaged.
- Lost luggage reimbursement. If you use your purchase your airline ticket, you could be eligible for reimbursement up to $3,000 if your luggage is lost.
- Extended Warranty Protection. You’ll get an additional year of coverage on select items you purchase with your card.
- Purchase Security. If you buy an item with your card and it’s stolen or damaged within the first 90 days, you could be eligible for repair, reimbursement, or replacement of the item.
Is the TD Cash Credit Card right for you?
The TD Cash Card is best for cardholders who live within TD’s footprint and who want a $0 annual fee card with spending categories they can choose. You won’t get a huge welcome bonus with this card, but you can get decent rewards.
The card also has a 0% intro APR offer on balance transfers, so if you want to consolidate your credit card debt and score a lower interest rate, this card is a decent option. Cardholders get 0% APR for the first 12 billing cycles after account opening. After that, 20.24%, 25.24% or 30.24% variable
Lastly, since there is a foreign transaction fee, this card is not a good fit if you travel abroad frequently—the 3% on each transaction can add up quickly.
Credit cards similar to TD Cash Credit Card
Cardholders who aren’t eligible for the TD Cash Card have a couple card options to consider: the Bank of America Customized Cash Rewards Credit Card and the Citi Custom Cash® Card.
These are $0 annual fee cash back cards available to customers nationwide. However, both cards have rewards caps, so your rewards earning potential may be limited.
Bank of America® Customized Cash Rewards Credit Card vs. TD Cash Credit Card
The Bank of America Customized Cash offers a larger welcome bonus than the TD Cash but a similar rewards structure compared.
While you’ll have to spend twice as much to earn the bonus, you’ll get $50 more. Bank of America Customized Cash cardholders get a $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
However, with the Bank of America Customized Cash, you get less personalization with your spending categories, and you could earn less in rewards because of the spending cap.
Bank of America Customized Cash cardholders earn 3% in a category of their choice, 2% automatic cash back at grocery stores and wholesale clubs, and 1% unlimited cash back on all other eligible purchases.
Unlike the TD Cash card, the rewards you earn in the 3% and 2% categories are capped—you can earn rewards on up to $2,500 in combined purchases each quarter in the choice category and at grocery stores and wholesale clubs. After that, you’ll earn 1%.
One upside of the Bank of America Customized Cash, compared to the TD Cash card is that cardholders get more spending category choices—they can choose between categories like gas and EV charging stations, online shopping, dining, travel, drug stores, and home improvement and furnishings.
Citi Custom Cash® Card vs. TD Cash Credit Card
While the TD Cash and Bank of America Customized Cash cards allow cardholders to choose their spending categories, Citi Custom Cash cardholders don’t have to do any of the work when it comes to figuring out the spending categories—Citi does it for cardholders.
Each billing cycle, Citi Custom Cash cardholders get 5% cash back applied to their top eligible spending category on up to $500 worth of purchases. After that, 1%. Plus, cardholders get 1% back on all other eligible purchases.
The categories include restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment.
The Citi Custom Cash also offers a decent bonus, but it does have one of the largest spending requirements. Cardholders can earn $200 cash back after they spend $1,500 on purchases in the first six months of account opening.
Frequently asked questions
Is it hard to get a TD cash credit card?
It may be hard for some cardholders get the TD Cash Credit Card—typically, you should aim for a good FICO score of 690 or better to qualify.
Is the TD Cash Card good?
The TD Cash Card is a good card option for cardholders who want a $0 annual fee card with a small welcome bonus and rewards categories they can determine themselves.
How do I increase my credit limit on my TD Cash card?
To request a credit limit on your TD Cash Card, you can call TD card services or apply for one through the TD app.
Please note that card details are accurate as of the publish date, but are subject to change at any time at the discretion of the issuer. Please contact the card issuer to verify rates, fees, and benefits before applying.
Fortune Recommends™ credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
