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TD Cash Back VISA Infinite

28K views 45 replies 13 participants last post by  m3s 
#1 ·
Not sure if there are people with TD VISA gold elite cards, but they are being discontinued and replaced with the Infinite. It still offers TD Auto Club service as well as 1% cash back, but it now offers 3% on Gas, Groceries, and pre-authorized payments. They also have a 90 day promotion where this is doubled to 6% for the first $3,500 spent.

Now if you weren't aware of this, they would have just replaced the card on your expiry date. You can go in to a branch to do the "exchange" where they will treat your card as the Infinite until you receive the proper card in the mail. There is an increase to annual fee to $120, but if you have the all inclusive account it is still free.

Thought it was worth passing along as I only found out when I was in the bank doing other things.
 
#3 ·
All transactions, including overseas ATM withdrawals (they still charge the FX, though), bank drafts/certified cheques, a small safety deposit box, and a premium Visa card. I don't remember any other features off the top of my head.

The account itself is $30/mo unless you keep 5k balance in it.
 
#6 ·
Borderless account used to be free with "All-Inclusive"

Over the years less and less is free with this account. I moved my USD to Tangerine which doesn't even require $5000 min balance for a free USD account..

In my experience, Tangerine beats the "All-Inclusive" preferred exchange rates as well

I'd have been far better off to invest that $5k in TD 10 years ago... but hey free safety deposit box
 
#7 ·
To each their own. For someone who plans on traveling to the US often, the US VISA is useful, only because it gives some flexibility on when you want to convert CDN to US funds, as opposed to paying the spot exchange rate at the time of transaction. Got it that you use the Amazon VISA with no exchange rate fees, but the flexibility of bulking up the US dollar account when CDN dollars are higher can be nice when paying the VISA bill in US funds.

Personally, I prefer the TD Auto Club as a selling point for the All-inclusive with the Infinite VISA. The safety deposit box is a useful throw in.

Now that they don't charge for overseas ATM transactions is another new bonus.
 
#8 ·
It's been awhile, but if I remember my TD card does get me a better deal on small foreign cash withdrawals (up to the point where the better rate from Chase or Tangerine defeats the few $$ withdrawal fee)

So you get a safety deposit box (which I don't use) international withdrawal fees (which I do use a lot but the value can be defeated with Chase Visa) and a premier rewards card (not sure I really want this when the points are always such a PITA to spend) and bank drafts (worth maybe $10 a year) vs $5000 in TD stocks?

I just made a quick portfolio to see what $5k in TD stock would be worth after 10 years and it's about $21k without reinvesting the divvies. So the opportunity cost can be significant. I keep it since interest rates are so low
 
#9 ·
i consider the 5K that I keep in my TD all-inclusive to be part of my emergency cash. I wouldn't invest that in stocks so the opportunity cost is roughly 2% PA which is the interest that I would receive if the money was in a savings account.
 
#11 ·
I have also considered the $5k as a sort of emergency fund. Although a $30 charge to use it makes it pretty inconvenient but also preserves it for a real emergency.

Since I have a significant % of cash in my investment accounts I've let it be, but if more buying opportunities came I would seriously consider closing this account.
 
#17 ·
TD All Inclusive Account

I have kept 5K in that account. While I get a free safey deposit box value of about $50 a year and borderless USD account and the US Visa fee. I do get debited monthly $1.95 for the borderless account. So $24 a year for a few cents exchange. And I have the Infinite card that just earns points. Hard to compare points with cash back though.
So are you saying we only need to keep 3k a year now in that account to get the same perks?
 
#18 ·
I have kept 5K in that account. While I get a free safey deposit box value of about $50 a year and borderless USD account and the US Visa fee. I do get debited monthly $1.95 for the borderless account. So $24 a year for a few cents exchange. And I have the Infinite card that just earns points. Hard to compare points with cash back though.
So are you saying we only need to keep 3k a year now in that account to get the same perks?
No. The 3k USD was for waiving the monthly fees for the borderline account, in addition to the 5k in the all inclusive account. It used to be that the borderless fees were waived with the all inclusive account but that changed.
 
#20 ·
The Tangerine USD account is free with no $1500k minimum nor any $1.25 transaction fees.. a better exchange rate to TDs "preferred rate" any time I've compared, and they even pay a piddly 0.15% whereas TD pays 0.01% interest after $1000.. 0.1% after $60k lol

Not sure what the allure to TD is besides convenience and familiarity or brand infatuation? Does it have CDIC coverage? Who knows as TD is very good at hiding basic critical details like that. They want you to come talk to their sleazy sales staff to get basic information
 
#21 ·
Thank YOU to All that responded. Great information and support here.

I will have to re think this All Inclusive Account, the perks and the $24 a year.

I do like to have the US Visa and no fee for that.

The safety deposit box.

I have the old Infinite Visa. I would prefer cash back.

Has anyone ever tried to calculate the points rewards vs cash back? So complex the mind boggles.
 
#23 · (Edited)
I have been using the new CASH back visa card from TD since 2 months now and never been happier. I have already redeemed over 200$ as cashback (much thanks to the 6% bonus cashback offer) as i pay my monthly bills from this as well gas for my 2 cars. As for the cashback vs points, i think cashback is the winner 99% of the time. Even if you do end up getting more point at times, the convenience of using cashback trumps the points any day. TD also has an option online where you can easily redeem the cashback yourself ( with just a click) once you have minimum 25$ reward available. The only downside i have is that some (very few) grocery stores don't accept VISA cards anymore which is a bummer , so looking for a good master-card for that . Other then that TD Cashback all the way...
 
#22 ·
For the past 24 years I traveled a lot so, I had an Aeroplan Visa with CIBC, then TD. My plan is to retire in six months, so the rewards are of little value to me, moving forward. I switched to an Infinite Cash Back card via a simple phone call and it has been good.

No, I haven't done a detailed analysis, as you suggested.

I currently hold the card detailed above and a Capital One Costco MasterCard as you use either where they provide the best benefit.
 
#24 ·
You have to spend $12000 on gas+groceries or $24000 elsewhere just to break even with $120/year TD Cash-Back vs free Tangerine Money-Back...

Plus Tangerine lets you chose a 3rd category for 2% Money-Back and you don't have to go click anything to get your money.. it gets deposited to your Tangerine savings account monthly regardless of any $25 minimum.

The Tangerine card is MC so you could use both and chose 3 categories other than gas+groceries
 
#25 ·
Well the new cashback infinite card gives you 3% on gas,groceries and recurring bills. I think your numbers are based on 1% cashback. Plus i don't pay 120/year as i have the TD all inclusive account.

Yes i am considering to get the tangerine MC for their option to select the category although i really don't want to open a chequing account with them to get 3 categories instead of 2 .
 
#28 ·
As I am nearing retirement and won’t travel much, so I ditched my TD Aeroplan card and I wanted to have both Visa and M/C. Now I have groceries and gas covered at 3% (TD Infinite Visa, no fee with all inclusive) and restaurants 3% (Costco/Capital One M/C, no fee). Works for me.
Those are pretty much my main cards as well, for the same reason. Just a thought, Loblaws does sell gift card and since the purchases count as groceries to VISA, I'm thinking that one could buy gift cards for other stores and essentially get a 3% rebate. e.g. if you shop at Home Depot, buy a $100 gift card at Loblaws and VISA will give 3% back on your statement. So you have $100 to spend at Home Depot for a net cost of $97. Takes a bit of planning, but if there is a Loblaws close by and convenient, it would be an easy stop to go to first. Or you just buy for stores that you normally go to and just keep them on hand.
 
#35 ·
Just a heads up to those with the TD Drivers Rewards that since it was discontinued and replaced with TD Cash Back Inifnite your Drivers points are still there until September 26, 2018. So you can still redeem them for the Drivers rewards level than the much lower valued Cash Back points. So I wouldn't recommend converting your Drivers points because you loose about half their value. Better to save them until you are ready to redeem them for actual auto stuff. I still have $800 worth that i plan on using next summer.
 
#37 ·
I have used multiple times, although i havent used any other towing service but i can tell you this , i am 100% satisfied with TD auto club no complaint. They even reimburse without much questions when you dont have enough time to wait and end up using some third party towing service.
 
#41 ·
While in the US, we use our TD Cash Back VISA Infinite card to purchase our groceries at ALDI, PUBLIX and WINN DIXIE. We do not use the card for gas purchases. In the US, most gas stations charge an additional fee when a credit card is used.

We purchased $56.56 US worth of groceries at ALDI’s using the TD Cash Back VISA Infinite card for an un-posted value of $74.62 CDN equivalent to a $2.24 cash back bonus.
The going rate at https://www.oanda.com/currency/converter/ for $56.56US was $72.55Cdn.

Comparing the data, to purchase $56.56 US, TD VISA charged us a foreign exchange fee of $2.07Cdn.

This morning the 3% cash back bonus of $2.24 actually saved us minus $0.17 in exchange fees.:tears_of_joy:
 
#42 ·
Comparing the data, to purchase $56.56 US, TD VISA charged us a foreign exchange fee of $2.07Cdn.

This morning the 3% cash back bonus of $2.24 actually saved us minus $0.17 in exchange fees.:tears_of_joy:
My amazon Visa (free) charges 0% foreign exchange fee and returns 1% cash back... so you would get $0.75 back sans $120/annual fee/$5000 min balance

When in the States I use my TD Visa for rental cars for the insurance and major purchases for the warranty extension. Any consumables I pay for with amazon visa (was not aware of any additional charge for gas, had only seen that at certain restaurants)

I spend months at a time in the US and claim work expenses. Our diligent administrators confirm I indeed do not paying exchange fees with amazon Visa.. because I could have claimed it as work expenses
 
#43 · (Edited)
Given that Chase is not accepting new applications for the Amazon Visa since earlier this year, talking about it is not all that useful if you don't already have it.

Also, given that it appears Chase is withdrawing operations from Canada, it is likely that when one's current card expires, there will be no replacement card.

*edit* it seems some people whose cards expired this year did get replacement cards.
 
#45 ·
Not really a good deal but savings do add up over time.

Our TD Cash Back VISA Infinite card is tethered to our TD All -Inclusive banking plan.
The "good deal" is having an ALDI store in your neighbourhood where food prices are on average 10% less than the competition.
 
#46 ·
ALDI keeps their costs down by avoiding waste like high credit card merchant fees. Up until recently they didn't even except credit cards, which is the norm in Germany.Now that ALDI accepts credit cards for the same price, every pays for them. If all stores offered a cash discount automatically, I would happily ditch the reward card games. Until then I will keep using my free Tangerine MC and amazon Visa. Glad I kept TD open though as they can apparently use Canadian credit history at US TD branches
 
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