Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances. You can find him on Twitter: barrychoi. Straightforward program and easy to use. Great review Barry. The bottom line is everyone should run the numbers based on their own spending patterns to determine which card and rewards program will deliver the best value. Like Mike said, there are programs out there that are better than this for a lot of people.
Really read the small print before choosing. I completely agree on that foreign exchange thing. I also have a general article ranking all of the programs. However, TD Rewards still ranks low compared to others for a few reasons. Facebook Twitter Linkedin Instagram Rss. I may be compensated if you use them. Table of contents. Pin 1. Share 8. About Barry Choi Barry Choi is a Toronto-based personal finance and travel expert who frequently makes media appearances.
Barry Choi on September 20, at PM. Mike on December 2, at AM. Barry Choi on December 2, at AM. Mike on December 2, at PM. Kim on January 28, at PM. You may need to cover the cost of the reward entirely in points depending on what you redeem for. The same goes for gift cards. Credits will be applied on statement and serve to reduce your balance similar to cash back. When using points for Amazon. Book Any Way is slightly more involved but extremely fleixble, allowing you to purchase virtually any travel booking directly from an airline or travel provider of your choice using your TD rewards credit card and redeem your TD points after the fact.
Your points will be applied to your card bill as a statement credit to offset the cost of the travel purchase. Are you or a loved one a student enrolled in a post-secondary institution? Like with virtually all credit card points programs, TD Reward points can also be used to purchase a variety of merchandise, such as electronics, gift cards, and appliances. However, when using your rewards for merchandise you will receive considerably less value per point than if you were to redeem for travel.
The option to use TD points towards tuition or student loans is a more unique addition not offered by all rewards programs. Objectively speaking, the best way to maximize TD Rewards is to redeem your points for travel.
Specifically from the ExpediaforTD website. With Expedia for TD, you can book flights, hotels, car rentals, cruises, vacation packages, and more. Points can be redeemed against the full cost of travel, including fees and taxes.
Simply book the travel, and as soon as the purchase appears on your credit card 3 or 4 business days , redeem your points against the spending amount.
You can do this over the phone, or online yourself, through your TD Rewards account. As with Expedia for TD, your points can cover the entire purchase, including fees and taxes. This is great for travel options not offered by Expedia, such as Airbnb, or an RV rental.
You can redeem points for gift cards via the TD Rewards site. That translates to a value of. Gift cards are available from a wide range of retailers, including brands like Cineplex, Costco, Canadian Tire, Cabelas, Esso, Apple etc. You can shop for merchandise through TD Rewards, by using your points to get a wide range of items for free. The drawback is that points for merchandise are worth less than for travel, but there is a huge number of items to choose from. Redeeming for merchandise can be a great way to shop for gifts for family or friends.
The cash credit redemption value is the same as with a gift card. It usually takes about business days for the credit to appear on your Visa account. TD Rewards has a redemption option designed specifically for students. You can transfer your TD Rewards points to HigherEd Points , which can then be redeemed against the cost of tuition at a large number of Canadian universities and colleges.
Still, this is a great way for students to benefit from credit card rewards.
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