The TD Reward program is one way Canadian banks make it easy for you to redeem points in many ways.
When you spend money with your TD rewards credit card, you earn points. TD Rewards is a credit card loyalty program. Like most programs, you maximize your reward points by redeeming points for travel.
In this blog post, we are going to be talking about the ways to earn many points. Also, we will look at the fastest ways possible on TD to fund your next big trip.
We’ll be talking about the following;
The 3 TD personal credit cards that earn you TD Rewards points
How to redeem TD Rewards points?
Credit card sign-up bonuses and it’s skepticism
Maximizing shopping portals
Finally, timing your major purchases around the bonus events
TD Goal Tracker
Everything you pay for with your travel TD credit card or rewards TD card earns you points.
Even if it is a cup of tea or a flight to Dubai. You can redeem the points you earn for travel, merchandise, or gift cards on TDRewards.com.
Besides, you get education credits. You can use it for tuition, student loans or cash credit to your account.
Use the Goal tracker to set your Reward goals and know how close you are to redeem your sweet rewards.
TD Personal Credit Cards
To maximize your TD Reward points, you can use signup bonuses. You will probably also earn points from your purchases.
Here are the TD personal credit cards that earn you TD Rewards points:
The TD Rewards Visa
The TD Platinum Travel Visa card
And TD First Class Travel Infinite card
TD First Class Travel Infinite card
When you apply for the TD First Class Travel Visa Infinite, you pay a $120 annual fee.
You will earn 20,000 points after your first purchase with a chance to make it as much as 40,000. Simply use $1,500 in the first 90 days. On your other purchases, you can earn between 3 to 9 TD Rewards.
When you use TD First Class Travel Infinite, you get;
The TD First Class Visa infinite does not get you as many points as the TD Platinum Travel Visa Card.
However, it is more popular because of some of its unique features. For example, you have the TD All-inclusive plan; they tend to waive the annual fee.
Also, you can get standard bonuses worth 20,000 points and opportunities to earn 40,000 TD Rewards points. You just have to meet the spending requirements.
The TD First Class Travel Visa Infinite is worth keeping your eyes on for promotions. You earn as high as 7,500 rewards points.
TD Rewards Visa Card
You don’t pay annual fees when you sign up for the TD Rewards Visa Card.
When you make your first purchase, you earn 2,500 points. For every $1 you spend on booking on Expedia, you earn 3 TD points.
You’ll earn 2 TD points per $1 spent on fast food, grocery, restaurants, and bills. Also, you get 1 TD point per $1 spent on other purchases. TD Rewards Visa Card offers discounts at Avis and Budget Rent-A-Car.
Well, the TD Reward Visa Card’s downside is that you don’t get as many points as the other cards.
Meanwhile, you don’t pay those annual fees. Just like the TD First Class Visa Infinite Card, you get promotions where you can make additional 7,500 points. TD made this card for students, and it is an excellent way to earn points in school.
Your TD Rewards points value can vary depending on how you use your points.
If you book travel through Expedia, your TD Rewards points will be valued at $50. It is $40 if you book travel through Book Any Way. Shopping at the mall is valued at $30. Gift cards and statement credits are usually $25 and $40 if you Redeem for Education.
Now you know the value of TD Rewards points. Would you like to know how to redeem them? Regardless of what you redeem your points for, it’s a pretty straightforward process.
Redeem TD Points With Expedia
Expedia supports the TD Travel portal. The booking process on Expedia.ca is very simple. TD is one of the easiest travel booking portals to navigate to from the major banks in Canada. Expedia is larger than most other banking programs.
Besides booking flights, hotels, and car rentals, Expedia offers comprehensive holidays, vacation rentals, rail trips, and attractions.
Each point is worth about 0.5 cents, and you need 200 TD Rewards points to get Expedia for TD booking.
To get the best off your TD rewards points, you should try registering for the email services. They had $100 out of a $400+ hotel booking on Expedia for TD giving you more valuable points.
Redeem With Book Any Way Travel
Suppose you redeem for travel expenses without booking from Expedia for TD.
TD Rewards will give you 20% less than what you would typically get from Expedia. It is lovely having this option. You usually get more points from hotel chains when you book directly with them.
If you have the money for it, it is worth taking advantage of the opportunity. Even if it’s not as much as what Expedia for TD would give you. When you use Book Any Way Travel, you can use points to pay for expenses that you find on TD. For example, Airbnb bookings.
The redemption ration you get is about 250 points for $1 in travel purchases. Which gives you point worth 0.4 cents each. This ratio will apply for the first $1,200 of a single trip. If you spend more, you will get 200 points for $1.
For valid travel expenditure, TD Book, Any Way Travel is very lenient. TD accepts additional out-of-province expenses like gas, restaurant, and parking tickets. They help cover all your non-flight and hotel-related costs. They can also be used to pay taxes.
When you redeem TD Reward points for a statement credit, it is at a rate of 400 points for $1. That makes it half of the Expedia TD value. Hence, it is the reason most people do not recommend it. The best bet is still Expedia for TD.
The TD rewards redemption value for merchandise is very low, but the sales might be something that interests you.
TD Redeem For Education
Redeem for Education is an exciting way to Redeem TD Rewards points.
When you buy HigherEDPoints Education Credits, it allows you to redeem your points.
Higher Ed Points organization agreed with loyalty programs and education institutions to converts loyalty points into education credits. If you go to their website, you can see a list of all participating institutions.
Your Points will be valued at 250 for $1, which is the same as Any Way Travel. It would be best if you consider that you can only redeem by $250 increments. It means that you get about 62,500 each.
You can pay outstanding loans and get more value for your points when you pay your loan earlier. As a result, you get to save money for interest.
All you have to do is download and install the browser extension. The toolbar will let you know when you can redeem your TD points. It only happens when you have downloaded and installed them.
The cost ratio is 300 points to get $1 for online shopping. It means your Reward points would be worth just .03 cents. That is a horrible deal.
TD Credit Card Sign Up Bonus
When most people are presented with the fact that credit card signup bonuses are the key to earning lots of points very fast. Often, they tend to be skeptical due to one reason or the other.
One of the questions that get floated at this point is:
Isn’t it going to ruin my credit score if I keep opening and closing credit cards? The answer is no. The reason being that paying your bill on time and in full ensures that there are no adverse effects on your credit score.
Another follow-up question you might have is how often can I or should apply for new credit cards? To be honest, there is no right or wrong answer. It depends on many factors, such as;
How badly you need the points
Your credit history
How healthy is your relationship with the banks?
Credit card companies compete aggressively. The competition often results in giving huge signup bonuses to their new customers.
If you look around the financial landscape, the big five banks or independent issuers like American Express.
You will see that you can get standard bonuses ranging between 15,000 to 25,000 miles.
There are even bonuses as high as 75,000 points upon signing up for a credit card.
One rule thumb to follow is to apply for 2-3 credit cards every three months. You the banks decline your request, the best course of action is to wait. Waiting gives you the time you need to build your credit score to acceptable limits again. Typically, we advise you to wait at least three months.
Suppose you don’t want to put in a new credit card application and get a further credit inquiry on your file frequently.
It is time for you to try the product switching technique for your application. Instead of putting a brand-new application with the same brand, you apply to another. In so doing, you are not applying as an existing user.
Instead, you will be seen as a new customer with the new issuer. Also, you will qualify for the same credit amount as before with your previous issuer. Lastly, you get to enjoy a new signup bonus.
TD Bank Product Switching
Product switching only works for a few select issuers like TD. So, it will not work across the board for all credit cards. Nevertheless, you can employ it as part of your strategy for some issuers.
Also, looking at the big picture, keep in mind that you shouldn’t be applying for all the credit card offers out there. It would help if you thought about the following;
What your travel goals are?
Where in the world do you want to go?
What kind of trip do you want to take?
TD Maximizing Shopping Portals
If one of your goals when it comes to credit cards is to save time. Then, one way to achieve this is to maximize shopping portals.
Also, you might want to try timing major purchases around bonus events. In so doing, you need not worry about tracking your cards when you need to travel.
For example, it is better to do all your holiday shopping online rather than physically visiting the stores. It is a sure way to maximize the mile you earn on every purchase.
Let’s say you spend $3000 on holiday gifts.
If you can make these purchases with retailers that earn 10 miles on the Aeroplan e-store, you will end up with 30 000 Aeroplan miles. These are miles you wouldn’t have earned if you just went into the store to buy your gifts.
Anytime you are thinking of a significant purchase like the home renovation, a new wardrobe, or maybe getting the latest gadgets.
It would be best to consider timing the purchases around the larger 5x, 7x 10x milage earning events. The usual 1x shopping rate on these shopping portals is pretty measly.
Then there are the points you earn on your day-to-day credit card spending.
Maximizing the miles you earn for every dollar you spend. If you are looking for a simple loyalty travel program, then the TD Reward program is for you.
TD Reward’s biggest flaw is that it does not have a fixed-point flight redemption chart like American express. It means that you can only get 0.5 cents per point. Although TD credit card offers are fair, other travel credit cards offer better signup bonuses.
I hope you enjoyed learning how to maximize your TD reward points. Thanks for reading, please let me know your thoughts and comments below.
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Sagar Sridhar is a personal finance blogger from Canada. His genuine passion for personal finance coupled with his unique style of writing is what stands out. Professionally, he is a computer engineer, agile certified and has a master’s degree in Project Management. His writing has been featured or quoted in the leading Canadian publications such as Credit Canada and many other personal finance publications. While he is juggling between his day job and blogging, he is the main author on this blog and has miles to go before making the final pit stop.