When you’re living with little income, it might sometimes seem like premium travel credit cards are just not for you. As you’ll find out in this TD Platinum Travel Visa Card Review, that may not necessarily be the case.
Enjoy 20,000 reward points as a welcome bonus when you successfully apply for this easy-to-get credit card.
|You Are Interested If||You want a reliable credit card with worthwhile rewards and benefits, but aren’t sure if you can get approved for anything beyond the basics.|
|Brief Description||The TD Platinum Travel Visa Card is a credit card option that can get you the kind of impressive benefits and rewards that you might not usually qualify for.|
|Main Requirements||Contrary to what you might expect from the rest of this card’s profile, its requirements are actually very low – there is no minimum income threshold and middling credit will suffice.|
|Provider||TD Canada Trust.|
|Card Type||This is a higher-tier travel card.|
Fees and Interest
|Purchase Interest Rate||The typical interest rate you’ll pay on your purchases with this card is 19.99%.|
|Cash Advance||Getting some extra money in advance will instead cost 22.99% in interest.|
|Balance Transfer||Any balance transfers made will be charged 22.99% interest as well.|
|Income Requirements||There is no minimum income needed to apply for this card.|
|Household Income Requirements||Only individual income is considered for this card.|
|Annual Fee||You’ll need to pay $89 year to have this card; currently, your first year will be free.|
|Welcome Bonus||Successfully applying for this card before February 25, 2019 will get you 15,000 TD reward points for your first purchase and an extra 5,000 if you hit at least $1,000 in spending in your first 90 days.|
|How To Earn Points||You can get 5 reward points for every dollar spent on travel purchases through Expedia, 3 points for every dollar spent on recurring bills and groceries, and 2 points for every dollar spent on anything else.|
|Benefits||Along with extended warranty coverage and purchase protection, you’ll also get a 5-25% discount at Budget or Avis Rent-a-Car locations, some baggage insurance, rental car theft or damage insurance, flight delay insurance and travel accident insurance.|
About TD Platinum Travel Visa Card
The main distinguishing feature of this card that we want to mention first in our TD Platinum Travel Visa Card review is that it’s extremely accessible. Although it still charges the kind of annual fee you’d expect from a high-level travel card, the fact that there is no income requirement to meet here is both unusual and highly desirable. Even if you think you might otherwise have to settle for a less attractive card, this one might be within your reach.
Points-wise, this is definitely a card worth having. You can receive 5 reward points per dollar you spend on travel purchases at expediaforTD.com, which is your top earning opportunity. A more practical way for you to earn bonus points is by just living your day-to-day life. You can get 3 points for every dollar you spend on groceries or recurring bill payments you have set up to be processed through TD’s system. This is an excellent opportunity for most people to earn the bulk of their reward points since nearly everyone regularly buys food and pay bills. Aside from that, you’ll also get 2 points per dollar on everything else you might buy.
Those numbers might be a little difficult to make sense of in isolation, so let’s take a look at what they mean in the context of your total point yield. If we take a budget of $1,000 per month in grocery and recurring bill expenses and $500 of other purchases, we end up with a baseline of 68,000 reward points with the welcome bonus factored in – about enough for a round trip on a train for two people. That’s a sizable reward for a fairly small monthly spend amount, proving that you don’t necessarily need to be living lavishly to get something out of this card. The one downside to this card is that the $89 annual fee automatically subtracts that amount of value from the rewards, so they’re not quite as impressive as they would otherwise be.
The benefits on this card also help to justify that fee somewhat, though. Whether you’d like baggage insurance and flight delay coverage to keep you sane at the airport, rental car insurance for trips on the road, or $500,000 of travel accident insurance to keep you safe no matter where you go, you’re covered with the complimentary bonuses offered here. You’ll also have access to small discounts at Avis and Budget Rent-a-Car outlets as well as a 15% discount on a Priority Pass Membership for airport lounges if that’s something you’re interested in.
There’s not much more to say in this TD Platinum Travel Visa Card review; this is a great credit card for people looking for more out of their travel cards while working with limited means. It offers good base and boosted rates for points, and its benefits are nothing to sneeze at either. Very few other cards at this level are so easily available to non-traditional applicants, giving this one a unique niche in the market.
TD (more formally known as Toronto-Dominion Bank) might have a uniquely Canadian name, but their massive global presence has made them the 26th largest bank in the world. By this point, they actually hold far more branches in the US (about 1,300) than they do in Canada (about 1,150). They also operate several subsidiaries under the TD brand, such as TD Asset Management and TD Waterhouse.
What We Think
We’ll close out this TD Platinum Travel Visa Card review by reiterating that this is a very nice card option for people who are looking for as good a card as they can get. However, the high annual fee should remain a consideration. Don’t choose this one unless you’re comfortable with paying almost $90 a year to have it – if you aren’t, there are plenty of other options available for you.