The Offer
- TD Bank has extended the $200 sign-up bonus offer on their Cash Rewards & Easy Rewards credit cards to $200 and 20,000 points respectively after $1,500 in spend within 90 days of account opening.
- In addition these cards earn 5x/5% cash back on dining, groceries, gas and cable, phone and utility payments for first 6 billing statements after account opening up to $75 per billing period and $450 total over the entire 6-month bonus period.
The Fine Print
- No annual fee
- Valid until June 30st, 2015
- You must live within the TD Bank Service Area. 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
- TD now accepts credit card applications even from those who don’t have a checking account with them.
Our Verdict
This offer comes and goes multiple times per year it seems, most recently in May. You can redeem Easy Rewards points for a statement credit (1¢ a piece), which means the cards are basically identical. There is one major difference though, Easy Rewards can be redeemed online while you’ll need to call in to redeem with the Cash Rewards card.
We recently broke the news that these TD cards now have a cap of $75 in bonus rewards per billing period and $450 over the entire 6-month bonus period.
Let’s re-analyze the value of the card under the new rules. We’ll assume that you could have gotten 2% cashback using a 2% credit card. If you max out the $450 in bonus reward dollars, you’ll have spent $9,000 and gotten an extra 3% back over what you would have gotten with a 2% card, or $270 extra.
- $200 signup bonus
- $270 extra from the bonus spend
- Total: $470
All told, it’s still not a bad card for someone who wants a credit card with a high cashback bonus as it offers the equivalent of a $470 cash signup bonus. There is, however, a high spend-threshold of $9,000, split up in uncovenient ways. Also, if you plan on doing the bonus spend by purchasing Visa gift cards, there is a purchase fee on those cards typically so you’ll only end up netting around $370.
Here’s how to go about maximizing this card:
- Spend $1,500 in category spend during the first billing cycle. This will trigger the $200 signup bonus and net you $75 in bonus cashback.
- Spend another $1,500 in each subsequent billing period for the first 6-months. This will net you another $75 per month.
As an aside, there is a report of the TD card being churnable.
Other TD related posts:
- TD Aeroplan Visa Credit Card Review – 25,000 Aeroplan Mile Sign Up Bonus
- T.D Bank To Take Over Nordstrom Credit Card Portfolio
- Review of TD First Class Visa Credit Card; $250 Cash Signup Bonus, 3% Dining & Travel [Geographically Limited]
