TD Cash Card Review

Written by Dayana Yochim
Edited by Carolyn Kimball
Fact-checked by Andrea Coombes

August 22, 2023

If food is your love language, TD’s no-annual-fee card (offering unlimited cashback on dining and grocery purchases) will pluck plaintively at your heartstrings.

Dine-in, takeout, delivery, cook at home — this food-focused cashback card pays 3% cash back on restaurant grub and 2% on grocery store spending. Notable for cheat days, carb-loaders and anyone planning a banquet: no spending caps or cashback limits.

The basics: Earn 3% cash back on dining (includes takeout and delivery), 2% cash back at grocery stores and 1% on other purchases. Earn 5% cashback on gas purchases for 6 months or up to a $6,000 spend. for Earn $150 cash back when you spend $500 within 90 days of account opening. 0% intro APR on balance transfers for first 12 billing cycles after account opening.

TD Cash Credit Card pros and cons

TD Cash Credit Card cashback rewards spending categories

The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.

Some cashback cards limit the spending amount eligible for the bonus rate (a.k.a. the “Spend Cap”). Once you hit that cap (e.g. $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”

Note: In addition to the TD Cash Credit Card's standard rewards rates illustrated in the table above, new cardholders will earn 5% cashback on gas purchases for six months (or until hitting a $6,000 gas spending cap).

What we like

No annual fee makes the TD Cash Credit Card more palatable than it might otherwise be.

Go ahead and pick up the tab! There are no caps on restaurant and supermarket rewards spending.

Works well as a backup food-related rewards card when you hit the spending cap on a primary rewards card.

The $150 cash back sign-up bonus has a low spending threshold — spend just $500 within 90 days of opening the account.

Redemption options go beyond the basic statement credit or cash funneled to an outside bank account. They include gift cards, merch and travel rewards.

If you’re joining the TD club with a big balance on another card, bring it on over for the 0% intro APR for 12 billing cycles. What you won’t get a break on is the 3% (or $5 minimum) balance transfer fee.

TD has more than 1,000 branches which gives you access to in-person customer service if you need it.

What we don't like

Groceries purchased at superstores or warehouse clubs “may” only earn 1% cash back. (Legal hedging courtesy of TD, although it’s stated more definitively as “will” in the fine print.) FWIW: The reluctance to reward consumables purchased at big-box stores isn’t unique to TD. Most rewards cards diss warehouse clubs and superstores.

We’d like to see a default cashback rate that’s higher than the 1% you’ll earn on anything that’s not food-related. While we’re putting in requests, we’d also like world peace, homes for all shelter dogs and better hair when in humid climates.

The 3% foreign transaction fee isn’t really going to boost international relations. Best to ground this card during your overseas travel.

Points are redeemable only after you’ve accumulated at least $25 worth, which is 2,500 points in TD’s rewards system.

The bottom line

Is the TD Cash Credit Card the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.

TD Cash Credit Card fine print

Operating instructions for the TD Cash Credit Card include all the fees and rewards details and fine print about your relationship status.

Does the TD Cash Credit Card charge an annual fee?

No, there is no annual fee for the TD Cash Credit Card.

Does the TD Cash Credit Card offer a welcome bonus?

Yes, the TD Cash Credit Card has a welcome bonus of $150.

How much cashback can I earn with the TD Cash Credit Card?

The average American that spends $1000 per month will earn $178.68 in cash back per year using the TD Cash Credit Card. For comparison, the average annual rewards payout from the cashback credit cards in the investor.com database is $191.26, and $180 is the median.

These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the TD Cash Credit Card depends entirely on your unique spending habits.

Find out exactly how much you’ll rake in with the TD Cash Credit Card by tailoring the spending inputs in the calculator above.

Read next

• Best Cashback Credit Cards
• Best Business Cashback Credit Cards
• What Is Credit? (And Why It Matters)
• Best High-Yield Savings Accounts
• Find a Financial Advisor
• Our Complete Coverage of Credit Cards

Methodology

The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.

To calculate the amount of cash back you could earn per year, we factored in:

• Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
• Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
• Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
• Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
• Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.

What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)

About the Editorial Team

Dayana Yochim

Dayana Yochim has been writing (articles, books, podcasts, stirring speeches) about personal finance and investing for more than two decades, focusing on bringing clarity and the occasional comedic aside to what is often a murky, humorless topic. She’s written for NerdWallet, The Motley Fool, HerMoney.com, Woman’s Day, Forbes, Newsweek and others, and been a guest expert on "Today," "Good Morning America," CNN, NPR and wherever they’ll hand her a mic.

Carolyn Kimball

Carolyn Kimball is Managing Editor for Reink Media Group and the lead editor for content on investor.com. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Andrea Coombes

Andrea Coombes has 20+ years of experience helping people reach their financial goals. Her personal finance articles have appeared in the Wall Street Journal, USA Today, MarketWatch, Forbes, and other publications, and she's shared her expertise on CBS, NPR, "Marketplace," and more. She's been a financial coach and certified consumer credit counselor, and is working on becoming a Certified Financial Planner. She knows that owning pets isn't necessarily the best financial decision; her dog and two cats would argue this point.