Lisa Maloney is a credit cards specialist, award-winning writer and former stringer for The Wall Street Journal. She has extensive experience as a consumer reporter, leveraging careful research and reporting to help readers make smart purchases and s.
Lisa Maloney Credit Cards WriterLisa Maloney is a credit cards specialist, award-winning writer and former stringer for The Wall Street Journal. She has extensive experience as a consumer reporter, leveraging careful research and reporting to help readers make smart purchases and s.
Written By Lisa Maloney Credit Cards WriterLisa Maloney is a credit cards specialist, award-winning writer and former stringer for The Wall Street Journal. She has extensive experience as a consumer reporter, leveraging careful research and reporting to help readers make smart purchases and s.
Lisa Maloney Credit Cards WriterLisa Maloney is a credit cards specialist, award-winning writer and former stringer for The Wall Street Journal. She has extensive experience as a consumer reporter, leveraging careful research and reporting to help readers make smart purchases and s.
Credit Cards Writer Libby Sweeney Credit Card EditorLibby Sweeney is a credit cards editor. Her previous experience writing and editing content for readers to better understand includes both the world of sports and data protection. She is also an experienced copy editor for three published books and i.
Libby Sweeney Credit Card EditorLibby Sweeney is a credit cards editor. Her previous experience writing and editing content for readers to better understand includes both the world of sports and data protection. She is also an experienced copy editor for three published books and i.
Libby Sweeney Credit Card EditorLibby Sweeney is a credit cards editor. Her previous experience writing and editing content for readers to better understand includes both the world of sports and data protection. She is also an experienced copy editor for three published books and i.
Libby Sweeney Credit Card EditorLibby Sweeney is a credit cards editor. Her previous experience writing and editing content for readers to better understand includes both the world of sports and data protection. She is also an experienced copy editor for three published books and i.
| Credit Card Editor
Updated: May 8, 2024, 12:09pm
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The TD Cash Credit Card is a solid cash-back card with no annual fee, an option to customize your high-earning rewards categories, and no cap on overall rewards earned. The closest competitor is the very similar Bank of America® Customized Cash Rewards credit card, which offers more spending categories but imposes a quarterly rewards cap.
TD Cash Credit Card On TD Bank's WebsiteOur ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.
Welcome Bonus $150 cash back + 5% on gas Annual Fee Regular APR 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness. Credit Score Good/ExcellentCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn $150 cash back when you spend $1,000 on eligible purchases within the first 90 days of opening your account, plus earn 5% cash back on gas station purchases for six months or up to $6,000 in spend, whichever comes first.
Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
Citi Double Cash® Card On Citi's Website Welcome Bonus Earn $200 cash back Annual Fee Credit Score Excellent, Good, Fair Regular APR 19.24% - 29.24% (Variable)Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Chase Freedom Unlimited® On Chase Bank USA, NA's Website Welcome Bonus Up to $300 cash back Annual Fee Credit Score Excellent, Good Regular APR 20.49% - 29.24% VariableCredit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
Once upon a time, the TD Cash Credit Card offered its best rewards for groceries and dining out. Its current incarnation is much more flexible, allowing you to designate one spending category to earn 3% cash back on dining – including takeout and delivery, 2% cash back at grocery stores initially, then every quarter choose from select spend categories for the 3% and 2% rates and 1% cash back on other purchases.
When you first open the TD Cash Credit Card, it defaults to 3% back on dining and 2% at grocery stores—perhaps a nod to its meal-oriented origins. However, every quarter, you’ll have the opportunity to adjust your 3% and 2% rewards categories between dining, entertainment, gas, groceries and travel. There’s no cap on your cash-back earning potential, and the TD Cash Credit Card has no annual fee.
Those flexible rewards are appetizing, but avid warehouse shoppers beware: Purchases at superstores and warehouse clubs only earn 1% cash back, no matter which bonus categories you’ve chosen.
This card is best as an everyday spending card for those willing to put a bit of effort into picking their top earning categories. Plus, with its introductory balance transfer APR, it’s ideal if you need to switch cards for a period of time to pay off a balance and still want to earn rewards. Since it’s a cash-back card, earning rewards can help you pay down a balance as you continue to use the card. Note that we never recommend you carry a balance on a credit card.
The TD Cash Credit Card earns rewards at the following rates: 3% cash back on dining – including takeout and delivery, 2% cash back at grocery stores initially, then every quarter choose from select spend categories for the 3% and 2% rates and 1% cash back on other purchases.
The card also comes with a welcome bonus of $150 cash back after spending $1,000 on eligible purchases in the first 90 days of account opening, plus earn 5% cash back on gas purchases for six months or up to $6,000 in spend, whichever comes first.
You can redeem your rewards once you have accumulated at least 2,500 points. Your cash can be redeemed as either a statement credit toward your balance or a deposit to an eligible bank in the U.S. Each point is worth 1 cent when redeemed this way.
Other redemption options include gift cards, merchandise and travel. Gift cards and travel redemptions are also worth a penny per point, but merchandise redemption values will vary and may be worth more or less than 1 cent per point.
Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households brings in $118,438 annually, and we base spending on that number. We also estimate that a household like this has $39,337 in annual expenses that might be reasonably charged to a credit card.
TD Cash Credit Card Rewards Potential
All other purchases Total: 63,726 points See More See LessActual rewards earned will depend on how much you use your credit card and which bonus rewards categories you choose each quarter. But if your spending matched that of our example household, this card would earn a total of 63,726 points or $637.26 in cash back per year, in addition to the first-year welcome bonus.
The TD Cash Credit Card comes with a 0% introductory APR on balance transfers for the first 15 billing cycles after account opening, then a 20.24%, 25.24% or 30.24% variable APR applies for purchases and balance transfers. Balance transfer fee of either $5 or 3% of each transfer, whichever amount is greater, applies.
If you apply and are approved, you will receive either a Visa Platinum card if your approved account credit limit is less than $5,000 or a Visa Signature card if your approved account credit limit is $5,000 or greater.
Visa Platinum benefits include:
Visa Signature benefits include:
Like the TD Cash Credit Card, the Bank of America® Customized Cash Rewards credit card has no annual fee and allows you to designate a top rewards-earning category that matches your spending habits. This customization is only allowed for the single, 3% cash back category, for which you can choose between gas and EV charging stations, online shopping (including cable, internet, phone plans, and streaming), dining, travel, drug stores, pharmacies and home improvement and furnishing stores. Your other cash-back rewards are fixed at 2% back for groceries and warehouse stores and 1% on everything else.
The Bank of America® Customized Cash Rewards credit card allows you to change your 3% awards category selection every month instead of every quarter. However, the Bank of America card limits your combined 3% and 2% earnings to the first $2,500 in combined purchases each quarter. After that, you earn a flat 1% back in those categories.
Two other perks worth noting are a 25% to 75% cash-back boost for members of Bank of America’s Preferred Rewards program (eligibility is determined by the average daily balance in your designated banking and investing accounts) and a generous 0% introductory APR for 15 billing cycles for purchases and balance transfers, 19.24% - 29.24% variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer during this period, then 4%.
If you like the idea of earning cash back on your spending but think that different rewards rates are a headache, consider a card that can earn the same elevated rate on all of your spending, like the Citi Double Cash® Card. The card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off. It carries no annual fee, and rewards can be redeemed as a check, statement credit, direct deposit into a qualifying bank account, gift cards, travel and more.
If you’re looking to amp up your earnings across a wide swath of expenses, consider a card like the Chase Freedom Flex®. The Freedom Flex has no annual fee yet comes with a pumped-up earnings structure that covers a variety of expenses, including 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Depending on your spending patterns, this may work out to be more rewarding for you.
The TD Cash Credit Card is a rare choose-your-bonus-category card that doesn’t have a rewards cap. However, if you don’t mind sacrificing a little flexibility, there are other rewards cards that offer more bonus categories or offer higher top-earning rates. Run the numbers for your spending and evaluate that against the bonus categories of these cards to determine which will give you the best return.
No single credit card is the best option for every family, every purchase or every budget. We've picked the best credit cards in a way designed to be the most helpful to the widest variety of readers.
Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:
Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors come together to provide a star rating for each individual card.