Canada: TD Visa Promo offer 6% cash back

[The Fake Cheap]

Sign up for a TD Cash Back Visa Infinite card and get 6% cash back for the first 3 months:

My understanding;

You only get the 6% on the first $3,500 in purchases (then 1%, but 3% on gas and groceries).
You pay the $120 annual fee, which is then rebated 2 statements later, so the first year is free.

Link (not a referral link) https://www.td.com/ca/en/personal-banking/products/credit-cards/cash-back/cash-back-visa-infinite-card/

Probably sounds like small peanuts for anyone in the US, but it's about as good as it gets for sign up bonuses in Canada.

Let me know if you find out any additional info, I'm thinking I'll be signing up shortly to put a large upcoming purchase on this.

[joonifloofeefloo]

Thanks very much, TFC. I'm always wondering where these deals are in Canada.

Personally, it wouldn't be worth it to me because the 6% rate is so brief, the fee so high, and changing cards is too much hassle for that. But I really appreciate that you would post it for us to be able to consider :)

[rocketpj]

Not a bad promotion, but overall it works out to $210 in rebates until it becomes worse than my Tangerine card.  Not sure that the $210 is worth the hassle of a new card etc, but perhaps.

[elaine amj]

If your normal cashback card gets you 1% back, then this gets you an extra 5% back for 6 months. Or $175 more than normal. Which would be what the bonus is worth. It's pretty decent for actual cash.

I am planning to sign up today for the BMO Air Miles World Elite Mastercard.
https://www.lowestrates.ca/blog/finance/bmo-air-miles-world-elite-mastercard-review
 
Apply and spend $3000 in 3 months for 3000 air miles. First year fee waived.
3000 air miles is worth at least $300 if you use cash miles. Redemption can get a little bit better if you use dream miles for certain things. I did the bulk of my redemption on Disney tickets but the cost just spiked significantly, making it not worth it anymore. I am thinking of redeeming for flights this year, despite the crazy taxes & fees. This card comes with a Companion pass of sorts where you pay for both tickets...then they refund you the air miles for one ticket. So might be worth it.

Another one you should look at is the Scotiabank Gold Amex. It takes a LONG time to get your points (I reached my minimum spend in May and still have to wait another month or so). I got it under a promo where I got $60 in gift cards from ratesupermarket for applying plus 30,000 points (worth $300 in travel) for spending $750 in the first 3 months. Not sure how redeeming the points will be like but I'll find out soon!