TD Rewards is the travel loyalty points program offered by Toronto-Dominion Bank, yet it’s often overlooked in favor of Aeroplan. This may seem surprising given that the TD Aeroplan Visa Infinite Card is among the top travel credit cards, which can explain the popularity disparity.
In my view, TD Rewards is often underestimated. Casual travelers might find it appealing because it utilizes Expedia for travel bookings. You can book nearly anything through Expedia for TD, and if you’re using one of their co-branded credit cards, you will achieve a favorable return rate. It’s worth noting, however, that different redemptions offer varying values, so understanding how to effectively utilize your TD Rewards points is essential.
Value of TD Rewards Points
Typically, users redeem their TD Rewards points for bookings via Expedia for TD. For every 200 TD Rewards points you use, you get $1 in travel, meaning each point is valued at 0.5 cents. TD Rewards has a variety of redemption options, but not all provide substantial value.
| Redemption type | Redemption value |
|---|---|
| Expedia for TD | 0.50 cents per point |
| Any travel | 0.40 – 0.50 cents per point |
| Higher education | 0.40 cents per point |
| Gift cards | 0.25 cents per point |
| Statement credit | 0.25 cents per point |
| Merchandise | 0.15 – 0.30 cents per point |
As illustrated, the most beneficial way to use your points is for booking travel through the Expedia for TD platform. If you opt to reserve travel independently and then redeem points afterward, you will receive less value. Additionally, redeeming points for gift cards, statement credits, or merchandise is not advisable due to the poor value they provide. Using points for education is somewhat worthwhile, yet certain conditions apply, which I elaborate on below. For any type of redemption, you must utilize the TD Rewards website.
Utilizing TD Rewards on Expedia for TD
TD Rewards collaborates with Expedia to operate their travel portal. It is important to remember that you must use Expedia for TD, rather than the standard Expedia site. As many individuals are already accustomed to navigating Expedia.ca, they will find that booking through TD Rewards is relatively straightforward, arguably making it one of the easiest travel booking platforms among Canadian banks.
Like other bank travel portals, you can book flights, accommodations, and car rentals. However, TD Rewards excels by providing access to a broader inventory through Expedia, which often surpasses other banking programs. For instance, Expedia for TD also includes vacation packages, cruises, vacation rentals, rail journeys, and attractions.
There isn’t a minimum amount of TD Rewards points needed for a redemption on Expedia for TD, but you will require 200 TD Rewards points to receive a $1 discount on your booking. At checkout, Expedia for TD will automatically prompt you to redeem points, eliminating any additional steps, as your points equal a value of 0.5 cents each.
Consider opting in for TD Rewards emails since they regularly feature valuable promotions. For example, they recently offered $100 off a hotel booking of $400 or more on Expedia for TD, enhancing the value of your rewards.
Redeeming TD Rewards for Any Travel
Furthermore, TD Rewards allows you to redeem points for travel expenses charged on your credit card, even if these were not specifically booked through Expedia for TD. Although the redemption value for ‘Book Any Way Travel’ can be up to 20% lower than that of Expedia for TD, I appreciate this flexibility. Many hotel chains provide points and elite benefits only when booking directly with them, making it worthwhile to book with those chains if you possess status, despite the reduced value compared to booking through Expedia for TD. Additionally, Book Any Way Travel enables you to apply points to expenses not available on Expedia, such as Airbnb rentals or RV hires.
For clarification, the redemption rate is 250 points for $1 in travel purchases, translating to a value of 0.4 cents each. This applies to the first $1,200 of any single travel purchase, after which the ratio changes to 200 TD points for $1. To reiterate, the first $1,200 requires 250 TD points for $1, and thereafter, expenses over $1,200 will only need 200 TD Rewards points.
Interestingly, TD’s Book Any Way Travel is fairly accommodating in terms of acceptable travel expenses. Alongside standard travel costs like flights and hotels, TD acknowledges other expenditures, including dining outside your province, gas, attractions, and even parking fees. These options can be beneficial since many loyalty programs primarily cover flights and hotels.
There are no blackout dates when utilizing TD points through either Expedia for TD or Book Any Way Travel. Additionally, your TD Rewards points can offset taxes and fees.
Using TD Rewards for Higher Education
Some banking rewards programs allow points to be utilized for investments, but TD uniquely allows point redemption for higher education expenses. This process can be somewhat complex, as you must first acquire HigherEdPoints Education Credits with your points. HigherEdPoints partners with various loyalty and educational institutions to convert loyalty points into educational credits. You can explore the complete list of participating institutions on their webpage.
The redemption rate for these credits is acceptable, with 250 points yielding $1. This is comparable to the value for Book Any Way Travel, though it is important to note that redemptions must be done in increments of $250, translating to 62,500 points. This option also extends to outstanding student loans, potentially allowing greater value from your points by considering the interest savings from paying off a loan early.
Redeeming TD Rewards for Gift Cards
The TD Rewards site features a section specifically for gift cards, where the points needed for redemption vary by merchant. In most instances, it requires 400 points for every $1 redeemed, representing half the value compared to redeeming through Expedia for TD, or 0.25 cents per point.
Clearly, utilizing points for gift cards is not a favorable option, but TD Rewards occasionally offers promotions, making certain gift cards 25% cheaper in terms of required points for redemption. Even during such promotions, you’d still need to spend 300 points for $1, equating to 0.33 cents per point—better than the usual rate, yet still trailing behind travel redemptions.
Redeeming TD Rewards for Merchandise
- Hair clippers
- Car seats
- iPads
- Laptops
- Beds
- Small and large appliances
- Gaming consoles
- Bicycles
- iPhones
Indeed, TD Rewards boasts a superior merchandise selection from various popular retailers. They seem to have a more extensive array of categories and products available compared to many other programs. Nevertheless, the redemption rate remains less than ideal, reflecting a point value between 0.15 and 0.30 cents each. However, TD Rewards frequently runs promotions that decrease the number of points needed for redemption, potentially increasing the value to as much as 0.40 cents, which is reasonable.
Redeeming TD Rewards for Cash
Once logged into TD Rewards, you’ll see an option to redeem your points for cash. While the idea of lowering your bill by redeeming points can be alluring, this often represents the worst value available. It costs 200 points for a $1 credit, equating to 0.25 cents per point. While this is on par with gift cards, cash redemptions lack promotional offers, keeping you stuck at 0.25 cents per point, which is quite poor. Unless in financial need, it’s advisable to refrain from redeeming for cash.
Do TD Rewards Points Expire?
No, TD Rewards points will not expire as long as your account is active and in good standing. However, should you choose to close or change your account, you will instantly lose your points, making it essential to utilize them prior to any account adjustments. Previously, switching from the TD First Class Travel Visa Infinite to the TD Aeroplan Visa Infinite allowed points transfer, but that is no longer permitted.
Comparison of TD Rewards
TD Rewards serves as a reliable travel loyalty program appealing to those desiring a straightforward approach. The combination of booking through Expedia for TD or independently means you need not worry about blackout dates or award redemption schedules. The primary drawback of TD Rewards is the absence of a fixed point flight redemption chart like what American Express Membership Rewards offers. As a result, the value of TD Rewards points is capped at 0.5 cents per point, and with American Express Membership Rewards, your points do not diminish in value regardless of travel booked.
While the TD credit cards available are decent, many of the best travel credit cards in Canada provide more impressive sign-up bonuses. Hence, I rank TD Rewards lower compared to Canada’s various bank travel programs. Those who prefer simplicity in maximizing value might rank TD Rewards higher, but I personally find the program to be lacking.
It is also worth noting that Aeroplan points can be perceived as superior to TD Rewards due to their potential higher value and the variety of TD Aeroplan credit cards available. For example, opting for the premium TD Aeroplan Visa Infinite Privilege Card not only earns you TD Aeroplan points but also comes with perks such as a Priority Pass membership, extended warranty protection, discounts on Avis rentals, trip cancellation insurance, purchase safety, and trip interruption coverage.
Ways to Earn TD Rewards Points
TD Rewards points can be accumulated through TD credit cards. The fastest method to earn points is through various sign-up bonuses, alongside earning points on all qualifying purchases. TD offers three personal credit cards that generate TD Rewards points: the TD Rewards Visa, TD Platinum Travel Visa Card, and the TD First Class Travel Visa Infinite Card. Additionally, there’s a TD Business Travel Visa that also accrues TD Rewards points, with the TD First Class Travel Visa Infinite Card standing out as the most favored option.
TD First Class Travel Visa Infinite Card
- $139 annual fee – Waived for the first year
- 20,000 TD Rewards points awarded after your first transaction
- 65,000 additional points available when you spend $5,000 within 180 days
- Annual $100 travel credit applicable to accommodations & vacation packages
- Birthday bonus of up to 10,000 points
- 8 points earned per $1 spent when booking through Expedia for TD
- 6 points per $1 spent on groceries, dining, and public transit
- 4 points for every $1 on recurring charges, streaming services, and media
- 2 points for every $1 spent on other purchases
The TD First Class Travel Visa Infinite is TD’s flagship credit card. While it may not rack up as many points as the TD Platinum Travel Visa card, its popularity speaks volumes. This popularity stems from the potential to waive the annual fee if you have a TD All-Inclusive plan, and even without that plan, the first-year fee is typically waived.
Standard rewards for new cardholders usually include a welcome bonus of around 20,000 points, with TD frequently hosting promotions that allow you to earn an extra 40,000 to 80,000 TD Rewards points upon meeting certain spending benchmarks. Given that each TD Reward point is valued at 0.5 cents, this could offer up to $500 in reward value if the welcome bonus reaches 100,000 points, making it essential to keep an eye on the current offers for the TD First Class Travel Visa Infinite Card as they can be exceedingly beneficial.
Notably, this card is also one of the TD credit cards eligible for partnerships with Starbucks Rewards. To take advantage of this, simply access your TD app, navigate to My TD Rewards, and choose Starbucks from the partner options.
If you prefer a no-annual-fee option, consider the TD Rewards Visa Card, rewarding you with 2 TD Rewards Points for every $1 spent on grocery and dining purchases.
Conclusion
Despite the limited redemption opportunities available, TD Rewards remains a reasonable travel loyalty program. Points are easily amassed and utilized with no blackout dates, yet the absence of transfer partners keeps TD in the lower tier of popularity among bank loyalty programs. Many customers desire flexibility; while being affiliated with Expedia is beneficial, the reduced value for self-booked travel is a drawback. Interestingly, the TD mobile app does not connect seamlessly to Expedia for TD.