TD Rewards Visa Card

Overview

The TD Rewards Visa Card is TD's no-annual-fee flexible travel rewards card — and one of the best free travel cards in Canada. It was voted Top No Annual Fee Travel Rewards Credit Card by Rewards Canada readers in 2023, and for good reason: it offers solid everyday earning, flexible redemption, and mobile device insurance — a genuinely rare perk on a $0 card.

The current welcome offer is 15,152 TD Rewards Points (worth $50 on Amazon.ca) when you spend $500 within 90 days of account opening. While the welcome bonus is modest, the card's real value is as a no-cost everyday earner that puts TD Rewards Points in your pocket on every purchase.

Earning TD Rewards Points

The card features four earning tiers:

• 4 TD Rewards Points per $1 on Expedia For TD travel bookings
• 3 TD Rewards Points per $1 on groceries, dining, and public transit
• 2 TD Rewards Points per $1 on recurring bill payments, streaming, digital gaming, and media
• 1 TD Rewards Point per $1 on all other purchases

On $2,000/month in combined spending (with typical grocery, dining, and transit allocation), you'd earn approximately 52,000 TD Rewards Points per year — worth roughly $260 in travel value through Expedia For TD.

Spend Caps

The bonus categories have a $5,000 annual spend cap each — groceries, dining, and transit share one $5,000 cap, while bill payments, streaming, and media share another $5,000 cap. Spending beyond those caps earns at the base 1x rate. This is the main limitation compared to higher-tier TD Rewards cards.

Points Never Expire

Your TD Rewards Points never expire as long as your account is open and in good standing. No activity requirements, no expiry clocks — accumulate at your own pace.

What Are TD Rewards Points Worth?

TD Rewards Points have variable value depending on how you redeem them:

At the best redemption value (~0.5¢/point), earning 3x on groceries effectively gives you a 1.5% return on grocery spending — solid for a no-fee card.

Mobile Device Insurance

One of the card's standout features: mobile device insurance up to $1,000 if you lose or damage your phone. This is a genuinely valuable perk that's rarely found on no-annual-fee credit cards in Canada. If you don't have a separate phone insurance plan, this benefit alone can justify carrying the card.

Flexible Redemption

TD Rewards Points can be redeemed in multiple ways:

• Expedia For TD — Book flights, hotels, car rentals, and vacation packages
• Amazon.ca — Use points at checkout with Amazon Shop with Points
• Starbucks — Convert TD Rewards Points to Stars
• Cash credits — Apply points against your statement balance
• Merchandise — Redeem through the TD Rewards catalogue

The flexibility to redeem at Amazon.ca and Starbucks sets TD Rewards apart from airline-specific programs — you're not locked into travel redemptions if you prefer everyday perks.

Partner Perks

• Starbucks — Link your card to earn 50% more TD Rewards Points and Stars
• Amazon.ca — Redeem TD Rewards Points directly at checkout
• Expedia For TD — Exclusive travel deals and 4x earning
• TD Offers — Exclusive perks from TD and participating merchants

TD Rewards Card Comparison

The free card gives you the same flexible TD Rewards ecosystem with lower earn rates and no travel insurance. If you spend enough to justify the annual fee, the Platinum Travel ($89) adds travel insurance and higher multipliers, while the First Class Infinite ($139) adds lounge access, a travel credit, and the highest earn rates.

Drawbacks to Consider

No Travel Insurance

Unlike the Platinum Travel and First Class Infinite cards, the TD Rewards Visa includes no travel insurance — no emergency medical, no trip cancellation, no flight delay coverage. If you travel regularly, you'll need insurance from another source.

Low Spend Caps

The $5,000 annual cap on each bonus category is restrictive. If you spend more than ~$415/month on groceries, dining, and transit combined, you'll exceed the cap and earn at the base 1x rate for the rest of the year.

Foreign Transaction Fee (2.5%)

Like most Canadian credit cards, this card charges a 2.5% foreign transaction fee on non-CAD purchases.

Modest Welcome Bonus

At 15,152 points (~$50), the welcome bonus is much smaller than the Platinum Travel (50,000 points) or First Class Infinite (165,000 points). This card is about steady everyday earning, not a big upfront bonus.

Who Is This Card Best For?

This card is an excellent choice if you:

• Want flexible travel rewards with no annual fee
• Value mobile device insurance as a free perk
• Are a light to moderate spender who won't exceed the $5,000 category caps
• Want to try the TD Rewards ecosystem without committing to an annual fee
• Are a student, new Canadian, or young earner building a travel rewards strategy
• Want points that never expire — accumulate at your own pace
• Use Amazon.ca or Starbucks regularly and want to redeem points there

It's not the best choice if you:

• Spend heavily and would benefit from the higher multipliers on the Platinum or Infinite cards
• Need travel insurance bundled with your credit card
• Want airport lounge access
• Spend frequently in foreign currencies

Bottom Line

The TD Rewards Visa Card is Canada's strongest no-fee flexible travel rewards card. With 4x on Expedia For TD, 3x on groceries, dining, and transit, mobile device insurance, and points that never expire — all at $0/year — it's an ideal starter card or everyday companion for Canadians who want to earn travel rewards without the commitment of an annual fee.

The welcome bonus is modest, but the card's value comes from consistent everyday earning and the rare inclusion of mobile device insurance on a free card. If your spending grows and you want more, upgrading to the Platinum Travel or First Class Infinite is a natural next step.