Cancelling a TD credit card is straightforward, but there are a few things to handle before you close the account to protect your credit score and avoid losing unredeemed rewards.
Before You Cancel: Checklist
- Redeem all Aeroplan points or TD Rewards — Points in your loyalty account are typically safe after card cancellation (they live in your Aeroplan or TD Rewards account separately), but confirm this before closing
- Pay your balance to $0 — TD will not close an account with an outstanding balance
- Cancel recurring charges — Update any subscriptions, utilities, or pre-authorized payments to a different card
- Note the credit limit impact — Closing a card reduces your total available credit, which increases your credit utilisation ratio and may temporarily lower your credit score
How to Cancel a TD Credit Card
Option 1: By Phone (Fastest)
Call 1-888-347-3261 (TD Credit Cards) and ask to close your credit card account. You’ll need:
- Your TD credit card number
- Your date of birth and SIN (for identity verification)
Hold times vary; calling first thing in the morning or midweek is typically fastest.
Option 2: In Branch
Visit any TD Canada Trust branch with government-issued photo ID. A banking advisor can close the account in person. This option works best if you have a complex situation (e.g., you want to product-change to another card at the same time).
Option 3: Via EasyWeb
Some TD accounts can be managed online. Log in to EasyWeb and check your credit card settings. Closure functionality may not be available for all cards online — if you don’t see a close option, use the phone method.
What Happens When You Cancel
- Immediate: New purchases are declined; the card is closed
- Final statement: TD sends one final statement covering any outstanding charges
- Credit report update: TD reports the account as closed to Equifax and TransUnion; this appears on your credit report within 30–60 days
- Credit history: The account remains on your credit report as a closed account for up to 10 years — this is not necessarily harmful and can continue to contribute positively to your credit history length
Should You Cancel or Downgrade?
If you want to stop paying the annual fee but want to keep the credit history, ask TD about a product change (downgrading to a no-fee card). For example:
- Downgrade from TD Aeroplan Visa Infinite → TD Aeroplan Visa Card (no fee)
- Downgrade from TD Cash Back Visa Infinite → TD Cash Back Visa (no fee)
A product change keeps the same account number and credit history intact, making it better for your credit score than cancelling.
Impact on Your Credit Score
| Factor | Impact of Cancelling |
|---|---|
| Credit utilisation | May increase if closing reduces total available credit |
| Credit history length | No immediate impact; closed accounts stay on file for years |
| Credit mix | Minimal impact if you have other accounts open |
Tip: If this is your only credit card, consider keeping it open (even unused) rather than cancelling — having no credit card at all can make it harder to rebuild credit later.
Returning the Physical Card
Destroy your cancelled card (scissors through the chip and magnetic stripe). TD does not require you to return the physical card.
Related Articles
- All TD Credit Cards
- How to Apply for a TD Credit Card
- How to Cancel a Credit Card in Canada
- Credit Scores in Canada
Process current as of June 2026. TD may update its cancellation procedures at any time — call 1-888-347-3261 to confirm the current process. See our Advertiser Disclosure.