TD has applied massive modifications to their total lineup of TD Rewards bank cards. Welcome bonuses, earn charges, perks and advantages, and insurance coverage are all getting a makeover.

The modifications have an effect on the TD First Class Journey Visa Infinite Card, the TD Platinum Journey Visa Card, the TD Rewards Visa Card, and the TD Enterprise Journey Visa Card. For probably the most half, we’re seeing increased incomes charges on categorized spending to offset decrease base earn charges, and the introduction of journey credit to offset increased annual charges.

Among the modifications are fairly main – however I really suppose the web modifications are constructive. Let’s take a better look.

TD Rewards Factors: Rebranded however Unchanged

First issues first, some excellent news: happily, factors redemptions stay on the identical price.

As all the time, you may redeem TD Rewards factors at a price of 200 factors = $1 for all journey bookings by way of Expedia for TD, or 0.5 cents per level. You can even proceed to redeem 250 factors = $1 for assertion credit score towards another journey expense, at a price of 0.4 cents per level.

In the meantime, TD has made a number of beauty modifications to its rewards playing cards. The title of the factors earned is formally altering from TD Factors to TD Rewards Factors, to align with the title of the TD Rewards program.

Additionally, as you’ll see beneath, the bank cards’ graphic designs are getting a streamlined facelift, resembling the aesthetic of the TD Aeroplan playing cards however with a signature TD Rewards sample.

TD First Class Journey Visa Infinite Card

Welcome Bonus

TD is celebrating their product overhaul with fanfare, providing an all-time excessive welcome bonus on the TD First Class Journey Visa Infinite Card. In complete, you may earn 135,000 TD Rewards factors:

• Earn 20,000 TD Rewards factors upon making your first buy
• Earn a further 115,000 TD Rewards factors upon spending $5,000 within the first 180 days

That is considerably increased than the earlier all-time excessive of 100,000 TD Rewards factors. Nevertheless, the spending requirement is considerably increased than earlier than, making this card a tougher proposition for low spenders trying to simply nab a high-value bonus.

Moreover, the cardboard gives a first-year annual price waiver, an ordinary and welcome fixture amongst such mid-market playing cards.

This provide is obtainable for brand new cardholders who apply by Might 28, 2023.

On a regular basis Spending

The incomes charges on the TD First Class Journey Visa Infinite Card are seeing a significant upheaval, with the introduction of a variety of finely-tuned class accelerators.

The incomes price for restaurant (together with takeout) and grocery spend will increase to 6 factors per greenback spent, equal to a 3% return on spend. This can be a doubling of the previous price, certainly a welcome enchancment.

Earnings on Expedia for TD purchases have been consolidated. Earlier than, you can earn 9 factors per greenback spent on bookings made on-line, and 6 factors per greenback spent on bookings revamped the cellphone.

Going ahead, you’ll earn 8 factors per greenback spent (4% return) on all Expedia for TD bookings. Regardless of the simplicity, it’s arduous to not name this a downgrade, albeit a minor one.

Additionally, earnings on pre-authorized purchases are getting a slight class bonus over the bottom price, at 4 factors per greenback spent (2% return).

Lastly, the bottom earn price for on a regular basis spending has decreased from 3 TD Rewards factors per greenback spent to 2 factors per greenback spent (1% return).

Right here’s a recap of the previous charges:

• 9 TD factors per greenback spent on Expedia for TD on-line
• 6 TD factors per greenback spent on Expedia for TD over the cellphone
• 3 TD factors per greenback spent on all different purchases

And right here’s a abstract of the brand new charges, efficient instantly:

• 8 TD Rewards factors per greenback spent on Expedia for TD
• 6 TD Rewards factors per greenback spent on groceries and eating
• 4 TD Rewards factors per greenback spent on pre-authorized purchases
• 2 TD Rewards factors per greenback spent on all different purchases

As we are able to anticipate with class accelerators, there’s a $25,000 annual cap for the whole quantity spent on all grocery, eating, and pre-authorized purchases. After that threshold, you’ll earn on the card’s base price.

Assuming you received’t attain the spending cap, I’d say the web modifications are overwhelmingly constructive, as groceries and eating signify a majority of spending for Canadians. With comparable spending patterns, you ought to be incomes greater than sufficient further factors to come back out forward.

New: TD Rewards Birthday Bonus

TD will grant a birthday bonus equal to 10% of the whole variety of TD Rewards factors earned over the 12 months previous to the first cardholder’s birthday, as much as a most of 10,000 TD Rewards factors.

Bearing in mind the birthday bonus, you may suppose of the particular earn charges as:

• 8.8 TD Rewards factors per greenback spent on Expedia for TD
• 6.6 TD Rewards factors per greenback spent on groceries and eating
• 4.4 TD Rewards factors per greenback spent on pre-authorized purchases
• 2.2 TD Rewards factors per greenback spent on all different spend

This makes fairly a distinction, supercharging the cardboard’s strongest classes, whereas mitigating the harm of the diminished charges on Expedia for TD and uncategorized purchases.

To earn the complete birthday bonus of 10,000 TD Rewards factors, you’d should earn 100,000 TD Rewards factors within the previous 12 months. Assuming you largely spend on eating places and eating, you’d should spend $1,389 monthly (or $16,667 yearly), which isn’t out of attain.

With the birthday bonus kicking in on October 30, 2022, you’ll obtain a ten% bonus on all purchases made between October 30 and your subsequent birthday. Following that, the ten% bonus can be calculated as traditional, from one birthday to the subsequent.

TD has borrowed this enjoyable perk from their subsidiary MBNA. Strictly talking, the utmost birthday bonus is stronger on the MBNA Rewards World Elite Mastercard, so I’d deal with this as an added bonus, and never as a driving issue for getting the cardboard, particularly if you happen to’re a excessive spender.

New: $100 Annual TD Journey Credit score

Following within the footsteps of many different Canadian banks (together with the BMO eclipse Visa Infinite Card, the HSBC World Elite Mastercard and the American Specific Gold and Platinum playing cards), TD has added a $100 annual TD Journey Credit score to their flagship rewards card.

The one catch is that this isn’t a one-to-one journey credit score, so that you received’t get $100 credit score upon spending $100. Fairly, you’ll get a $100 credit score upon spending $500 on lodging bills booked with Expedia for TD.

This consists of accommodations, motels, different lodging, and trip leases, or a trip bundle which incorporates any of the above plus a transportation reserving. Word that flights are excluded.

This can apply per calendar 12 months, so cardholders ought to anticipate it to kick in instantly. For many who already maintain the cardboard and received’t have an annual price charged earlier than the top of 2022, you might be able to double dip this new credit score earlier than your subsequent annual price hits. 😉

New: Cellular Gadget Insurance coverage & Improved Journey Insurance coverage

The TD First Class Journey Visa Infinite Card now gives as much as $1,000 in cellular system insurance coverage within the occasion of loss, theft, unintentional harm, or mechanical breakdown. Depreciation is calculated as 2% monthly, and there’s a deductible primarily based on the whole authentic price of your system.

For telephones over $600.01, the deductible is a flat $100. A minimum of 75% of the whole price of the system or the month-to-month plan price have to be paid with the TD First Class Journey Visa Infinite Card.

Along with cellular system insurance coverage, TD is including resort/motel housebreaking and flight/journey delay insurance coverage. These are normal for comparable playing cards, so I’m not stunned to see them launched on this refresh.

Lodge/motel housebreaking insurance coverage now covers as much as $2,500 per incidence for eligible private objects for cardholders and members of the family on the identical journey.

As for flight/journey delay insurance coverage, there may be now $500 coated per insured particular person if the delay is over 4 hours lengthy and no less than 75% of the fee is charged to your TD First Class Journey Visa Infinite Card.

Lastly, journey medical insurance coverage will increase to $2,000,000 per insured particular person per coated journey, up from the earlier $1,000,000.

To view the complete listing of all modifications, you may take a look at the Adjustments to TD Rewards Program Phrases and Situations and the Certificates(s) of Insurance coverage.

Annual Price Enhance

It’s not all excellent news, nevertheless: the annual price has elevated from $120 to $139.

That is hardly unprecedented. The modest improve brings the price for TD’s flagship card in keeping with the TD Aeroplan Visa Infinite Card relaunched two years in the past. It’s additionally on par with a few of its in-house rewards opponents, the Scotiabank Passport Visa Infinite Card and CIBC Aventura Visa Infinite Card.

Given the brand new advantages for cardholders, I hardly suppose it is a punitive change. In addition to, there are dependable methods to have your annual price waived or diminished, whether or not with a frequently-offered first-year-free signup bonus, with the aforementioned journey credit score, or with all-inclusive banking as a long-term cardholder.

TD Platinum Journey Visa Card

Welcome Bonus

Though the cardboard has revamped a lot of its different options, the welcome bonus on the TD Platinum Journey Visa Card is unchanged, at 50,000 TD Rewards factors:

• Earn 15,000 TD Rewards factors upon making your first buy
• Earn a further 35,000 TD Rewards factors upon spending $1,000 within the first 90 days

This card additionally gives a first-year annual price waiver. Just like the First Class Journey Card, this provide is obtainable till Might 28, 2023.

On a regular basis Spending

The incomes charges on the TD Platinum Journey Visa Card have modified in keeping with the Visa Infinite variant, with the bottom earn price reducing, however categorized incomes growing considerably.

Beforehand, these had been the earn charges:

• 5 TD factors per greenback spent on Expedia for TD
• 3 TD factors per greenback spent on pre-authorized purchases
• 2 TD factors per greenback spent on all different purchases

Going ahead, the earn charges are as follows:

• 6 TD Rewards factors per greenback spent on Expedia for TD
• 4.5 TD Rewards factors per greenback spent on groceries and eating
• 3 TD Rewards factors per greenback spent on pre-authorized purchases
• 1.5 TD Rewards factors per greenback spent on all different purchases

To summarize the enhancements, the ever-popular groceries and eating classes are getting an enormous increase, and journey purchases by way of Expedia for TD are getting a slight bump. Pre-authorized purchases will proceed to earn above the diminished base price.

There may be additionally now a $15,000 annual cap for the whole quantity spent on all grocery, eating, and pre-authorized purchases, earlier than rewards on spending drop to the bottom price.

New: Cellular Gadget Insurance coverage & Improved Journey Insurance coverage

The TD Platinum Journey Visa Card gives the identical new insurance coverage insurance policies because the Visa Infinite described above, together with cellular system insurance coverage and resort/motel housebreaking insurance coverage. The one distinction is that flight/journey delay insurance coverage won’t be included.

To view the complete listing of all modifications, you may take a look at the Insurance coverage Updates.

Annual Price Unchanged

The annual price stays at $89, and might be simply waived by the identical strategies outlined above for the Visa Infinite card.

TD Rewards Visa Card

Welcome Bonus

The TD Rewards Visa Card is TD’s entry-level providing with no annual price.

The welcome bonus on the TD Rewards Visa Card can be staying the identical. You’ll earn TD Rewards factors equal to a $50 Amazon credit score, equal to 15,152 factors, upon preserving the account open and in good standing for 90 days.

On a regular basis Spending

These are the previous charges:

• 3 TD factors per greenback spent on Expedia for TD
• 2 TD factors per greenback spent on groceries, eating, and pre-authorized purchases
• 1 TD level per greenback spent on all different purchases

And these are the brand new charges:

• 4 TD Rewards factors per greenback spent on Expedia for TD
• 3 TD Rewards factors per greenback spent on groceries and eating
• 2 TD Rewards factors per greenback spent on pre-authorized purchases
• 1 TD Rewards level per greenback spent on all different purchases

Like with the Platinum Journey card, Expedia for TD and meals classes are getting a elevate, and pre-authorized funds are holding regular. Uniquely on this fundamental card, the earn price on uncategorized spending haven’t decreased – all of those modifications are nothing however constructive.

Notably on the TD Rewards Visa Card, there isn’t any annual spending cap. Which means after you hit the spending cap on the TD First Class Journey Visa Infinite Card and/or the TD Platinum Journey Visa Card, it’s optimum to maneuver your grocery and eating spend to the TD Rewards Visa Card, because the no-fee card’s accelerated rewards are increased than the premium playing cards’ base earn charges.

Beforehand a somewhat languid product, TD’s most elementary bank card is now an extremely aggressive possibility amongst its friends with no annual price.

New: Cellular Gadget Insurance coverage

The TD Rewards Visa Card additionally gives equivalent cellular system insurance coverage to the Visa Infinite and the Platinum Visa variants described above. No different insurance coverage can be added or modified.

To view the complete listing of all modifications, you may take a look at the Insurance coverage Updates.

TD Enterprise Journey Visa Card

Welcome Bonus

Shifting to the enterprise aspect, the TD Enterprise Journey Visa Card can be providing an all-time excessive welcome bonus of as much as 150,000 TD Rewards factors:

• Earn 30,000 TD Rewards factors upon making your first buy
• Earn a further 60,000 TD Rewards factors upon spending $5,000 within the first three months
• Earn a further 5,000 TD Rewards factors monthly upon spending $2,500 in every of the primary 12 months

Whereas the month-to-month spending requirement is a light nuisance, the brink isn’t outrageously excessive for a enterprise proprietor with constant spending. The whole bonus factors you may earn stays the identical as earlier than, however the month-to-month spending requirement has been lower in half.

I’d consider the welcome bonus as 90,000 factors, and deal with the month-to-month part as an additional 2 factors per greenback spent (as much as $2,500 monthly).

On a regular basis Spending

Incomes charges on the TD Enterprise Journey Visa Card have stayed the identical:

• 9 TD Rewards factors per greenback spent on Expedia for TD on-line
• 6 TD Rewards factors per greenback spent on eating, pre-authorized purchases, and international transactions
• 2 TD Rewards factors per greenback spent on all different purchases

In truth, not a lot has modified with this card, except for the branding.

TD Credit score Card Comparability

With so many class bonuses altering throughout the TD Rewards portfolio, right here’s a fast breakdown of the brand new incomes charges on all the private bank cards that earn TD Rewards factors.

The ten% birthday bonus is included for the TD First Class Journey Visa Infinite Card. Word that you simply received’t obtain the earlier 12 months’s bonus factors till your subsequent birthday, and your precise earn charges might differ if you happen to exceed the birthday bonus cap.

For readability, TD Rewards factors are valued at 0.5 cents per level, so 2 factors per $1 spent is equal to 1% again.

Conclusion

We all the time worry the worst after we hear about modifications to a bank card or rewards program, however I don’t consider that to be the case this time with TD’s proprietary TD Rewards portfolio.

With the TD First Class Journey Visa Infinite Card, the annual price has elevated from $120 to $139, the welcome bonus has risen however turn into tougher to realize, and the earn price on non-categorized spending has dropped from 3 to 2 TD Rewards factors per $1 spent.

Nevertheless, these negatives are greater than offset by the grocery and restaurant earn price doubling, a birthday bonus of 10% of all TD Rewards factors you’ve earned prior to now 12 months, a $100 annual journey credit score, and a plethora of compelling insurance coverage choices.

The TD Platinum Journey Visa Card has undergone a extra minor reshuffling on class earn charges, together with improved insurance coverage. On stability, I’d say these modifications are a internet constructive as effectively.

Lastly, the TD Rewards Visa Card has solely seen constructive modifications, with many will increase and no decreases to its on a regular basis earn charges, and the addition of cellular system insurance coverage. I’d say it’s now positioned as one of many higher no-fee bank cards available on the market.

These modifications have now taken impact for present cardholders and new candidates alike. With very robust signup bonuses, specifically on the flagship TD First Class Journey Visa Infinite Card, contemplate making use of earlier than Might 28, 2023.