The Offer
- Sign up for a TD Easy Rewards or the TD Cash Rewards credit card and spend $500 within the 90 days after account opening. Receive a bonus of 20,000 points/$200 cash back.
This offer is available on both the Cash Rewards version of the card and on the Easy Rewards version of the card. Assuming you redeem the Easy Rewards points for a statement credit (which is what most of us do), the two cards are very similar. The only difference is that with the Easy Rewards card the rewards can be redeemed online. With the Cash Rewards card, you’ll need to call in.
This offer was last available in August, and the current offer will be around until the March 31, 2015.
These cards are also very interesting due to the fact that they offers a bonus cashback rate on some purchases for the first 6 months. You’ll receive 5% cashback at supermarkets, gas stations, and dining. Also 5% cashback on cable, phone and utility bills. This is great for someone who spends a lot in those categories. All other purchases earn 1%.
The Fine Print
- Offer valid until March 31, 2015.
- You must live within the TD Bank Service Area and have a checking/savings/CD account with them. Locations in the following states: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, Washington, D.C. Alternatively you can use this location search.
- If you don’t already have a TD Bank account, you’ll need to visit a branch to apply for this card. They will most likely require you to set up a checking account before they allow you to sign up for this credit card. However, the $200 bonus does not seem to apply for in-branch applications.
Our Verdict
This is a great bonus for someone who likes to get cashback bonuses. See Best Cash Credit Card Sign Up Bonuses For 2015. It also has the definite advantage of getting 5% back on groceries and gas for the first 6 months.
We recently noted that TD seems to have been tightening the bolts on the 5% bonus and trying to limit people who abuse the benefit. We have not heard of anyone who was shut down by TD, but they sometimes will put a freeze on the account. See The Noose is Tightening on 5% Everywhere.
That being said, I think there’s a strong case to be made for signing up for the card with the $200 bonus. You start off with $200, and then you can still get some more use out of it for the first 6 months with the 5%. Even if you’d tread lightly on the card and not rack up tens of thousands of dollars in spend on gift card purchases, you can still get a real nice value out of it.
However, as mentioned this card is geographically limited. Additionally, you’ll need to open a checking account with them in order to be eligible for the credit card, which is an added hassle of the card. You don’t need to have a long relationship with them; if you open a checking account now, you should be able to apply in a few days (or maybe immediately) for the credit card.
Special thanks to WellTraveledMile for making us aware of this offer via his Google Spreadsheet. I recommend bookmarking the spreadsheet for future reference.
