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Earn 9% Cash Back with TD

TD Canada Trust is offering an unprecedented 9% cash back. Below are the highlights of the TD Cash Back Visa Infinite Card.

  • $120 annual fee
  • $50 annual fee for supplementary cardholders
  • Earn 9% cash back on gas, grocery and recurring bill payments (for the first 3 months or first $3,500 in spending if you apply before June 3, 2018)
  • Earn 3% cash back on gas, grocery and recurring bill payments thereafter (on first $15,000 in annual spending per category, including the 3 month bonus promotion)
  • Earn 1% cash back on all other purchases

The maximum 9% cash back bonus that you can earn is $315 ($3,500 x 9%). Without a first year annual fee waived, you would need to earn enough cash back to cover the fee.

The promotion before this one was a 6% cash back in the first 3 months and first year fee waived. At 6%, you would have earn $210 (6% x $3,500). If you subject $315 – $210, you only get $105. So based on this calculation, the first year fee waiver promotion with 6% is better than this 9% offer.

Still, if you happen to earn the full 9% cash back and may the annual fee, you are still ahead by $195 ($315 – $120).

Note that you can redeem your cash back at any time, so long as you have at least $25 banked. Otherwise, you will receive the cash back once a year (in January), regardless of the amount.

Even though when we break it down, the 9% cash back offer is not super impressive, it still sounds very attractive to market a 9% cash back on a credit card. I am happy to see TD make such an unconventional move to gain some attention, which should lead to some increased competition in the market.

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Pointshogger aims to provide analysis and updates on earning loyalty reward points and maximizing the value of your points. We hope to inspire our readers to experience the joy of travel and make the most out of what they've already got!

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