We’ve written before about the TD 5% cashback credit cards. It comes with a signup bonus of either $100 or $200.
The bigger interest in the card is due to the fact that it offers 5% cashback on gas and groceries which should make it a great card to manufacture spend with. And they recently started allowing applications even from those who don’t have a checking account with them, making the card even more palatable.
The latest news:Â As of June 1, 2015 the TD 5% cards now have a limitation of a max $75 Bonus cashback per billing period ($1,500 in spend) and a max of $450 Bonus cashback over the entire 6-month time-period.Â
Yes, that means they just officially killed the card for the purposes of manufacturing spend, athough it was really already dead before as we’ve previously discussed.
The PDF Terms are clear that 1% non-category spend can be earned unlimited and the limit is only with regards to the category spend.
I’m not entirely certain if the new Terms apply to existing cardholders. Typically, they send out a mailing indicating new terms.
This leaves Wells Fargo as the only unlimited 5% card left.
The main reason now to get the TD credit card would be due to the $200 signup bonus which comes occasionally (it’s up now). $200 isn’t terrible for a cash signup bonus and you’ll get a little more value from the bonus categories. We analyzed the value more here.
I applied on May 29 and was approved immediately. I received the card on 6/8 and did not notice such limit. Hopefully I am not limited.
I hope so! Let us know how it goes.
I checked the terms and did not find any place mentioning the $1500 cap per month.
I will try to spend 2000 this month and see what I get.
Hi doctor, can you please write a review for the new TD Ameritrade Client Rewards Card from TD Bank?
Doesn’t seem that interesting 1.5% cash back with a 10% bonus for a maximum of 1.65% cash back and only a $100 bonus.
I applied and was approved and wondered too if purchasing VGC at grocery store would not count, even though it is usually coded as a grocery purchase. Worked just fine for Freedom card quarterly categories. In any event, it would still be an easy $200 minus GC fee.
Yeah, it should work. At least if there’s no human review of account (which there shouldn’t be). I had success with buying VGC at grocery with TD in the past.
My May statement had the following notice on it, but that was it. My new statement just closed and does not have any mention so hopefully it’s just new cardholders in my case. Below is the notice from May:
IMPORTANT NOTICE: Effective immediatelythe followingtransactions willNOT earn Cash Rewards(5% and/or1% earn):
purchases of travelers checks, money orders, lottery tickets, gamblingchips, wire transfers, foreign currency, purchases or
reloadingof prepaidcards, or purchases of any other cash equivalentsas determinedby TD Bank in its sole discretion.These
transactions are not consideredpurchases qualifying to earn TD Cash Rewards regardlessof how a merchantmay classify or code
the transaction. Except for these changes, all other TD Cash Rewards terms and conditions, including other transactionsdeemed
ineligibleto earn TD Cash Rewards,remain in full force and effect.
$75 per billing period? What a joke. Can’t really call it 5% CB with those shitty caps.