TD Cash Card Review and Comparison

The TD Cash Card is a reloadable prepaid card designed for everyday spending, and it's a great option for those who want to avoid overdraft fees or don't have a traditional bank account.

One of the standout features of the TD Cash Card is its flexibility - it can be used anywhere Visa debit cards are accepted, both online and offline.

You can load funds onto the card using a variety of methods, including direct deposit, online banking, or in-person at a TD Bank branch, as mentioned in the article section on "How to Load Funds onto the TD Cash Card".

The TD Cash Card also comes with some useful benefits, such as zero liability protection, which means you won't be held responsible for unauthorized transactions.

The TD Cash Card has some important rates and fees you should know about.

The annual percentage rate (APR) for purchases on the TD Cash Card can range from 19.49% to 29.49% variable APR, depending on your creditworthiness.

A 0% introductory APR is available for balance transfers for the first 15 billing cycles after account opening, after which the APR will revert to 19.49%, 24.49%, or 29.49% variable APR.

The balance transfer fee is $5 or 3% of the transfer amount, whichever is greater.

You'll also be charged a cash advance fee of $10 or 5% of the advance amount, whichever is greater, and a foreign transaction fee of 3% of each transaction in U.S. dollars.

The minimum interest charge is $1, and you may be charged up to $40 for late or return payments.

Here's a summary of the rates and fees:

The TD Cash Card offers a range of rewards and perks that make it a great choice for everyday spending. You can earn 3% and 2% cashback on the categories you choose each quarter, such as dining, gas, grocery, entertainment, and travel.

The card's rewards structure is quite flexible, allowing you to change your categories at any point, but it won't take effect until the following quarter. This means you can adapt your rewards strategy to fit your changing needs.

Consider reading: Td Bank Credit Card Rewards

One of the standout features of the TD Cash Card is its customizable rewards. You can pick two categories from the list below to earn elevated rewards:

All other purchases earn 1% cashback. This flexibility is a major strength of the TD Cash Card, especially when compared to its competitors.

The card also offers a welcome offer: earn $200 cash back when you spend $1,000 within the first 90 days after account opening. This bonus isn't groundbreaking, but it's a pleasant sight to see, given the TD Cash Card is a no-annual-fee product.

To redeem your cash back, you'll need to earn 2,500 points, which is equivalent to $25 in rewards. This threshold can be reached through a minimum of $2,500 in spending, although roughly $833 if you exclusively spend within your 3% category.

The rewards will never expire as long as your account is open and in good standing. This means you can earn and redeem rewards without worrying about any time limits.

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The TD Cash Card offers a range of services and benefits that make it a convenient and secure payment option. You can add your TD cards to your mobile device to simplify online, in-store, and in-app purchases.

With the TD Cash Card, you can enjoy Visa security on purchases, plus protection against unauthorized charges. This provides peace of mind when making transactions.

If your card is lost or stolen, you can get an immediate replacement at a TD Bank. This is a great feature to have, especially when traveling.

Here are some additional benefits of the TD Cash Card:

The TD Cash Card offers a range of services and benefits that make it a convenient and secure way to make purchases. You can add your TD cards to your mobile device to simplify online, in-store, and in-app purchases.

If you're worried about unauthorized charges, don't be - the TD Cash Card has Visa security on purchases, which protects you against unauthorized charges. This means you can shop with confidence, knowing your transactions are secure.

But what if your card is lost or stolen? Don't worry, you can get an immediate replacement at a TD Bank location. Just find a TD Bank near you and they'll help you get back up and running in no time.

The TD Cash Card also offers contactless payments, which are a convenient and secure way to make purchases. You can learn more about the benefits and security of contactless payments by checking out the TD website.

In terms of benefits, cardholders can enjoy four primary benefits, including flexible redemption options and travel benefits and protections.

Here are some of the key benefits of the TD Cash Card:

The TD Cash Card also offers theft and loss protection, which covers purchases stolen or damaged within 90 days of ownership. This protection is available up to $500 per claim and $50,000 in total claims over the life of your account.

Extended warranty protection is also available, which extends the warranty by one year for select purchases with warranties of five years or less.

The TD Cash credit card offers a 0 percent intro APR on balance transfers for the first 15 billing cycles after opening your account.

The standard variable APR will be either 19.49%, 24.49% or 29.49% variable APR based on your creditworthiness after the intro APR period.

A balance transfer fee of $5 or 3% of transfer, whichever amount is greater, will apply.

The TD Cash Card stands out for its longer 0% introductory APR balance transfers compared to many other cards.

The Wells Fargo Active Cash Card and Capital One Savor Cash Rewards Credit Card offer similar intro APR periods, but they also offer an intro APR on purchases.

If you need a longer amount of time to pay off a balance transfer, consider the Discover it Balance Transfer, which gives you an intro APR on balance transfers for 18 months.

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The TD Cash Card has some specific rules and restrictions when it comes to applying and being eligible for the card. You'll need to live in one of the states that has a TD branch, which includes Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, or Washington, D.C.

If you live in one of these states, you can apply for the TD Cash Card and earn rewards on your purchases. The Travel Spend Category includes merchants like airline ticket sellers, hotel chains, and car rental agencies.

There are no published limitations on the number of TD cards you can have at once, but keep in mind that frequent applications for credit can negatively impact your credit score. This is something to consider before applying for multiple cards.

The TD Cash Card is only available to residents in certain regions, which greatly limits potential applicants to less than half of U.S. residents. If you live on the west coast or in the Midwest, you won't be eligible to apply for this card.

Here is a list of states where you can apply for the TD Cash Card:

The TD Cash Credit Card has a decent spending requirement for its welcome bonus, which is $1,000 within the first 90 days of opening your account. This is somewhat attainable, but not on par with other cash back cards that require less spending.

Compared to the Citi Double Cash Card, the TD Cash Credit Card has a lower spending requirement for its welcome bonus. The Citi Double Cash Card requires $1,500 in spending within the first six months of account opening, which is more than the TD Cash Credit Card.

Worth a look: How Does the Citi Double Cash Card Work

The TD Cash Card has its advantages and disadvantages. Here are some of the key pros and cons to consider.

One major pro is that there's no annual fee. This means you can use the card without worrying about extra charges.

The card also allows you to customize your rewards categories, which is a great feature if you want to earn cash back on specific purchases. You can even get introductory grocery rewards, which can be a nice bonus.

However, there are some limitations to be aware of. Applications are restricted to residents in select U.S. states, so you may not be eligible to apply if you live elsewhere. Additionally, you can only select new categories once per quarter, so you'll need to plan ahead if you want to switch up your rewards.

Here are some of the key cons to consider:

The TD Cash credit card has some great features that make it a solid choice for those looking to earn cash back rewards.

There's no annual fee, which means you can use this card without breaking the bank.

You can customize your rewards categories to fit your spending habits, which is a nice perk.

The card offers introductory grocery rewards, which can be a big help for those who do a lot of shopping.

This card requires good to excellent credit to be approved, so keep that in mind if your credit history isn't perfect.

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The TD Cash Card isn't perfect, and it's essential to consider its drawbacks before applying. One of the main cons is that applications are restricted to residents in select U.S. states.

This limitation can be a major issue if you live in a state that's not on the list. I've seen friends who live in non-participating states get frustrated with this restriction.

Another con is that category selections are limited to once per quarter. This means you can only choose a new category for rewards every three months, which might not be ideal if you have multiple categories you'd like to focus on.

This limitation can be a bit frustrating, especially if you're trying to maximize your rewards earnings. However, it's worth noting that this restriction is in place to prevent abuse of the system.

Charges foreign transaction fees of 3% on each transaction in U.S. dollars. This can add up quickly, especially if you're traveling abroad or making online purchases from international merchants.

This fee is a significant drawback, especially for frequent travelers or online shoppers. It's essential to factor this cost into your overall expenses when considering the TD Cash Card.

Here are some of the cons of the TD Cash Card summarized: