Basics of Cash Back Credit Cards
What is a Cash Back Credit Card?
Cash Back Credit Cards continue to be a popular option for those looking for a card with Cash Back for everyday purchases. How it works is simple. Every time you use your card, you can earn back a percentage of the amount spent in Cash Back Dollars. You can use Cash Back Dollars towards paying down your credit card account balance. Depending on whether you need a personal or business Cash Back Credit Card, TD has a number of options with various features and benefits.
- TD Cash Back Visa* Credit Cards for personal use
TD’s personal Cash Back Credit Cards let you earn Cash Back Dollars on everyday purchases such as groceries, gas, and recurring bill payments.
- TD Business Cash Back Visa* Cards for business use
The TD Business Cash Back Visa Card lets you earn Cash Back Dollars on your purchases, which are credited back to your business account as an automatic statement credit on an annual basis.
How to choose the right Cash Back Credit Card
With any Cash Back Credit Card, the general rule of thumb is the more you spend, the more Cash Back you’ll earn. That said, every Cash Back credit card on the market lets you earn different percentages on various types of purchases, so it’s important to evaluate your choices carefully. Spend a lot on gas every month? You’ll want a card with a high percentage Cash Back on gas. Buy groceries for a large family? The same principle applies. What’s more, some cards might come with a welcome bonus, insurance coverage, roadside assistance and other benefits.
- Welcome bonus Cash Back
Some Cash Back Credit Cards offer a “Welcome bonus” - a bonus you get after the first purchase. - Earn rate for Cash Back
Depending on the card type and spend category, your 'earn rate' or the percentage you earn in Cash Back Dollars may vary. - Card features (extra) and benefits
Each of the offered credit cards have different earn structures based on spend categories, and benefits and features to match your spending habits, like paying bills or buying gas. - Annual fee
Some Cash Back Credit Cards may charge an annual fee for membership, while some come with no annual fees at all. - Eligibility requirements
As with any credit card, eligibility usually depends on your credit score and income.
Why should you look for additional features in Cash Back Credit Cards?
In addition to earning Cash Back on purchases, Cash Back Credit Cards come with all sorts of additional features. Some of these might be applicable to your lifestyle and spending habits, while others may not. If you travel frequently, a card that includes travel insurance might make sense. If you’re a daily commuter, you might want a card with a robust roadside assistance package. Thankfully, TD offers a number of Cash Back Credit Cards to cover most features. Here’s what you might want to look for:
- Travel medical insurance
Travel medical insurance is designed to help in case of illness or injury while on a trip. - Roadside assistance
Roadside assistance is handy in the event your car breaks down and you need a tow or battery charge. - Additional features / benefits
Additional features might include automatic payment plans to digital wallets, Mobile Device insurance and travel benefits.
How to apply for a TD Cash Back Credit Card
Once you’ve chosen the TD Cash Back Credit Card that’s right for you, select the “Apply online” button to start the application process. If you’re new to TD, getting started with your application is quick and easy.
Step 1: Choose the card
Select the card that matches your goals.
Step 2: Submit your application
Complete and submit an application online.
Step 3: Get an instant response
Get an instant response from TD credit card services.
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