The TD Cash Back Visa is TD Bank’s entry-level no-annual-fee cash back credit card in Canada. It’s designed for Canadians who want a straightforward cash back card without paying a yearly fee—making it ideal for those starting out with rewards credit cards or looking for a backup card.
Quick Verdict
Best for: Canadians who want a no-annual-fee TD credit card with basic cash back rewards and no income requirement.
Not ideal for: High spenders who would be better served by the TD Cash Back Visa Infinite (3% on groceries, gas, and recurring bills) or those wanting premium travel perks.
Key Card Details
| Feature | Details |
|---|---|
| Annual Fee | $0 CAD |
| Network | Visa |
| Reward Type | Cash back |
| Income Requirement | None stated |
| Purchase Interest Rate | 19.99% |
| Cash Advance Rate | 22.99% |
| Foreign Transaction Fee | 2.5% |
Note: Specific earn rates and welcome bonuses change periodically. Visit td.com for current offers.
Welcome Bonus
TD periodically offers welcome bonuses on the Cash Back Visa (e.g., earn cash back at an accelerated rate in the first few months). Check td.com for the current promotion.
Earn Rates
TD currently lists the TD Cash Back Visa earn structure as follows:
| Category | Cash Back Dollars |
|---|---|
| Groceries | 1% |
| Gas | 1% |
| Electric vehicle charging | 1% |
| Public transit | 1% |
| Recurring bill payments | 1% |
| Streaming, digital gaming and media purchases | 1% |
| All other purchases | 0.5% |
This structure gives the card a broad but modest return. It is strongest when your spending fits the higher-rate categories and weakest when most of your purchases fall into the base 0.5% bucket.
First-year cash back example
If you spend $12,000 in a year and your mix is:
- $4,800 groceries and gas
- $2,400 recurring bills and streaming
- $4,800 all other spending
Your cash back would be:
- $4,800 x 1% = $48
- $2,400 x 1% = $24
- $4,800 x 0.5% = $24
- Total first-year cash back = $96
Because the annual fee is $0, the first-year net value is also $96 before tax implications or any welcome offer.
Annual cash back example
Using the same spend pattern over a full year, the card continues to generate the same amount of cash back:
- Annual cash back = $96
- Annual fee = $0
- Net annual value = $96
If your spending is heavier in the 1% categories, the value rises. If most of your spend is in the 0.5% bucket, the value falls.
Cash Back Dollars Redemption
TD says Cash Back Dollars can be redeemed annually or at any time. That flexibility is useful for people who want to either:
- let rewards accumulate and redeem once a year, or
- apply them more frequently if they prefer to see the benefit sooner
Because this is a no-fee card, redemption timing matters less than with a premium card. The real question is whether your spending mix produces enough cash back to justify keeping the card in your wallet.
Benefits and Perks
- No annual fee — zero cost to carry
- Purchase security — coverage against theft or damage on eligible purchases
- Extended warranty — doubles manufacturer’s warranty on eligible items
- TD MySpend — real-time spending tracker via the TD app
- Contactless payments — tap to pay for speed and convenience
Fees and Rates
| Fee | Amount |
|---|---|
| Annual Fee | $0 |
| Purchase Interest | 19.99% |
| Cash Advance | 22.99% |
| Foreign Transaction | 2.5% |
| Balance Transfer | Promotional rates may apply |
If you carry a balance, the rewards are much less important than the interest cost. This is a good card only if you pay your statement on time and in full, or if your balance is short-lived and controlled.
TD Cash Back Visa vs. TD Cash Back Visa Infinite
| Feature | TD Cash Back Visa | TD Cash Back Visa Infinite |
|---|---|---|
| Annual Fee | $0 | $139 |
| Grocery Earn Rate | Lower | 3% |
| Gas Earn Rate | Lower | 3% |
| Recurring Bills | Lower | 3% |
| Income Requirement | None | $60,000 personal |
| Travel Insurance | No | Yes |
For most Canadians who spend heavily on groceries, gas, and subscriptions, the TD Cash Back Visa Infinite at $139/year typically offers better overall value. The no-fee version suits lighter spenders or those just starting out.
Who Is This Card Best For?
- Students or young adults building credit without paying an annual fee
- Light spenders who want a simple cash back card from TD
- TD banking customers who prefer to consolidate with their bank
- Backup card holders who want a no-fee Visa alongside a premium card
Alternatives
| Card | Annual Fee | Cash Back | Best For |
|---|---|---|---|
| TD Cash Back Visa Infinite | $139 | Up to 3% | Heavy grocery/gas spenders |
| Tangerine Money-Back Card | $0 | 2% (chosen categories) | Flexible no-fee cash back |
| Scotiabank Momentum No-Fee Visa | $0 | Up to 1% | No-fee Scotia cash back |
| BMO CashBack Mastercard | $0 | Up to 3% groceries (first 3 mo) | Best no-fee grocery cash back |
Bottom Line
The TD Cash Back Visa is a solid no-annual-fee starter card for TD customers who want cash back without commitment. However, if you’re spending over ~$500/month on groceries and gas combined, the TD Cash Back Visa Infinite earns enough to offset its $139 fee many times over.
Disclaimer: Card terms, earn rates, and features are subject to change. Verify all current details at td.com before applying.