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TD Cash Card Review

Dayana Yochim

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

April 01, 2024

Why trust us? has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.

The TD Cash Credit Card is a step up from your average tiered-rate rewards card. It offers flexibility — your choice of five everyday bonus categories, which you can swap out each quarter — and pays an unlimited 3% and 2% cash back on whichever two you choose.

The TD Cash Credit Card is an appealing option for cardholders who want a customizable rewards program that doesn't require a lot of hands-on management. It's tiered-rate program allows users to pick a 2% and 3% bonus spending category — choose from dining, entertainment, gas, groceries or travel — and, if you want, switch it up each quarter.

Unlike similar rewards cards, the TD Cash Card doesn't limit your earning potential with rewards spending caps: It pays an unlimited 2% and 3% back on the bonus categories you choose, and 1% on everything else, which makes it good for cardholders that put a lot of basic expenses on plastic. For comparison, the Bank of America Customized Cash Rewards Card pays the 2% and 3% cash back rates on just the first $2,500 you spend per quarter in those bonus categories combined.

Suss out TD's competition: See TD Cash Card vs. Bank of America Customized Cash Card.

The basics: Choose your top two spend categories to earn unlimited 3% and 2% cash back. Earn unlimited 1% cash back on all other purchases. Special offer: Earn $200 cash back when you spend $500 within 90 days of account opening. 0% introductory APR on balance transfers for first 15 billing cycles after account opening.

Credit Card Calculator
Monthly Spend
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dining Dining
theater_comedy Entertainment
local_gas_station Gas
shopping_cart Groceries
monetization_on Other
local_pharmacy Pharmacy
card_travel Travel
local_shipping Amazon
storefront Costco
construction Home Improvement
shopping_bag Online Shopping
smart_display Streaming
local_taxi Transit
power Utilities
kitchen Whole Foods
receipt_long Wholesale Clubs

TD Cash Credit Card

TD Cash Credit Card Logo
Cashback Per Year
Annual Fee
Welcome Bonus
Want to compare more cards? Use our full calculator.

TD Cash Credit Card pros and cons

thumb_up_off_alt Pros

  • Unlimited 3% or 2% cash back on two categories of your choice each quarter
  • Easy-to-snag welcome bonus
  • 0% intro APR for 12 months on balance transfers
  • No annual fee

thumb_down_off_alt Cons

  • 1% default cash back rate could be tastier
  • Charges 3% foreign transaction fee
  • Reward redemption minimum applies
  • Not available to residents of every state

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 (aka 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.”

Category Default Rate Bonus Rate Bonus Spend Cap Bonus Spend Period (Months)
Gas 1.00% - - -
Travel 1.00% - - -
Dining 3.00% - - -
Entertainment 1.00% - - -
Pharmacy 1.00% - - -
Groceries 2.00% - - -
Other Purchases 1.00% - - -

Note: The TD Cash Credit Card allows cardholders to choose one 3% cashback spending category and one 2% cashback spending category each quarter. We used the card's default bonus spending categories — dining (3%) and grocery stores (2%) — in our credit card rewards calculator. Other eligible spending categories are entertainment, gas and travel.

What we like

Your choice of five bonus categories for the 3% and 2% cash back rewards rate. They are: dining, entertainment, gas, groceries and travel.

Allows cardholders to swap reward categories once each quarter. The TD Cash Card's flexibility can help you earn the highest cashback rate on planned expenses throughout the year.

No bonus spending caps. This is a rarity among tiered-rate rewards cards. With the TD Cash Credit Card your earning potential is unlimited. For comparison, the Bank of America Customized Cash Rewards Card imposes a $2,500 quarterly rewards spending cap on purchases in the 2% and 3% cash back categories combined. Amounts above that earn just 1%.

Easy-to-snag welcome bonus. I applaud TD Bank for offering a sign-up bonus with a reasonable $500 spending requirement and 90 days to earn it.

Redemption options go beyond the basic statement credit or cash funneled to a U.S.-based bank account. They include gift cards, merch and travel rewards.

Balance transfer offer available. If you're trying to pay off a balance from another card, bring it on over for the 0% intro APR for 15 billing cycles (up from 12, previously). Note that there is a a 3% (or $5 minimum) balance transfer fee.

Visa Signature benefits available to applicants who are approved for the TD Cash Card with a credit line of $5,000 or more. This gets you things like access to 24/7 concierge services, invites to exclusive events, travel protections and more.

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 in the same way.

We’d like to see a default cashback rate that’s higher than the 1% you’ll earn on purchases outside of a cardholder's chosen bonus categories. While we’re putting in requests, we’d also like world peace, homes for all shelter dogs and better hair when in humid climates. This is why I recommend pairing any tiered-rate rewards card with a 2% cash back on everything card to use on non-bonus spending categories.

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

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

Keep an eye on sign-up incentives. I was bummed to see that TD Bank stopped offering new cardholders the opportunity to earn an extra 3% cash back on grocery store purchases for six months. It appears that promotion has been replaced with a more generous welcome bonus and longer 0% APR period on balance transfers.

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 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.

tips_and_updates Trivia time!

How common are annual fees? Roughly 17% of the consumer cash back cards we review charge an annual fee. They range from $39 to $99, with an average annual fee of $67.

Does the TD Cash Credit Card offer a welcome bonus?

Yes, the TD Cash Credit Card has a welcome bonus of $200.

tips_and_updates Fun fact

More than half (55%) of the consumer cash back credit cards we track in the database offer a welcome bonus, ranging from $30 up to $300. The average sign-up bonus for new cardholders is $197, with the median being $200.

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 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.

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The results of the 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

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,, 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

Carolyn Kimball is Managing Editor for Reink Media Group and the lead editor for content on 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

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.