6. The advantage of bundling accounts

Since this card comes from TD, a major bank, it may suit those who want to keep all their accounts with a single institution – and there may be benefits associated with it. For example, TD members with an All-Inclusive Checking account who have a minimum balance of $5,000 at all times can recover the card’s $120 annual fee and daily bank charges each year. Keep in mind, however, that if the balance in your All-Inclusive Checking account falls below $5,000, you’ll owe a $30 account fee each month.

7. Money Back Dollars Never Expire

As long as your account is open and in good standing, your cashback dollars will remain usable.

8. You Can Earn Starbucks Rewards

If you’re a Starbucks regular, you may have just struck… dark roast. Not only can you redeem TD points for stars at Starbucks, but you’ll also earn 50% more stars when you link your TD card to your Starbucks rewards account as a payment method.

How much money back can you earn with the TD Money back Visa infinite?

The TD Cash Back Visa Infinite has some healthy earning rates. But what do the rewards look like in real dollar terms? To give you an idea, we’ve used the numbers with an example of an estimated monthly spend in each category. Your exact totals will depend on your actual spending habits.

Bonus Categories Monthly Expenses Annual Rewards Groceries (3%) $500 $180 Recurring Bills (3%) $200 $72 Gas (3%) $125 $45 Everything Else (1%) $1,000 $120

Based on this scenario, you could earn $417 in cash each year, or $297 after deducting the annual fee. This cash-back reward comes in addition to other valuable benefits, such as free roadside assistance, which would normally cost $69 to $100 per year, and included travel insurance. Not to mention that in your first year you will receive a discount on the annual fee of $120 and can earn back up to $200 in bonus money.

Apply for the TD Cash Back Visa Infinite*

Are There Any Downsides to the TD Cash Back Visa Infinite?

The spending categories have limits

One of the main benefits of this credit card is the competitive earning rate it offers on gasoline and grocery purchases. There’s a caveat, though: The 3% cash back is subject to a $15,000 spending limit for the year, at which point you’ll only earn 1% on gas and grocery expenses. If you spend a lot in these categories, you may want to consider a different card, or top up your spending with another rewards card that offers more than 1% after meeting that limit. The recurring billing category also has a cap of $15,000, and therefore goes to 1% cashback.

There is an income requirement

In addition, the TD Cash Back Visa Infinite has a minimum annual income requirement of $60,000 (or $100,000 for the household), meaning it is not accessible to a large number of Canadians. If you don’t meet the requirement, consider another great cash back card with lower or no income requirements, such as the Tangerine Money-Back Credit Card or SimplyCash Preferred from American Express*.

This post TD Cash Back Visa Infinite Rating 2022

was original published at “https://www.moneysense.ca/spend/td-cash-back-visa-infinite-review/”