Well it finally happened. After a few years of having a TD Gold Visa credit card, TD is removing the collision insurance feature on their gold card as of September. For us this means we need to find a new alternative. We currently use the gold card for:
- Auto Rental Collision/Loss Damage Insurance, to cover our collision for the car sharing service we use (sooo much cheaper than owning!). This saves us $6/month
- not requiring us to take out the insanely expensive collision insurance option when we rent a car (for longer trips - this tends to cut the cost in half or about $20-$25/day rented.
- Foreign currency transactions. There is no "fee" for foreign currency transactions (many charge 2.5% of the cost) and it converts the purchase from xxx dollars (or whatever currency) into CAD, whereas most card go from xxx dollars to USD then USD to CAD - resulting in a horrible currency exchange rate
The other nice part of this card is that it doesn't have an annual fee :) But alas, it seems we need to look for a new one.
Can anyone recommend a card that offers the auto insurance option and good foreign currency exchange? We would prefer without a fee, but even at normal fee costs, we would still be ahead. Cash back and other niceties are nice to haves, but not needed.
