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Author: Tyler Wade

By Tyler Wade

🗓️

Updated: October 20, 2023

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware that some (or all) products and services linked in this article are from our sponsors.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Please be aware this post may contain links to products from our partners. We may receive a commission for products or services you sign up for through partner links.

The TD U.S. Dollar Visa* Card is tailored for Canadians who frequently travel to or shop in the U.S. Especially to TD bank appealing customers, this card allows transactions in U.S. dollars without the hassle of foreign currency conversion rates. 

If you’re a regular visitor to the U.S. (here’s lookin’ at you, Snowbirds), or spend more than $3,000 USD per year, avoid the foreign exchange fees and consider if this TD card is right for you. 

Let's dive into the specifics.

Pros and cons

Pros

Pros

  • No foreign currency conversion rates and fees.
  • Insurance coverages for travel and shopping.
  • Digital wallet compatibility with Apple Pay and Samsung Pay.
  • Option to waive the annual fee with the TD Borderless Plan.
Cons

Cons

  • $39 annual fee.
  • No reward points or cashback.

Welcome bonus

Currently, the TD U.S. Dollar Visa* Card does not offer a specific welcome bonus.

Earn rate

The card does not offer points or cashback rewards for purchases.

Key benefits

  • Currency convenience: Designed for those billed in U.S. dollars, eliminating conversion hassles.
  • Insurance: Comprehensive coverage including travel accident, auto rental damage, delayed baggage and more.
  • Digital payments: Buying something from an American website? Use this card and avoid the costly currency exchange. 

Insurance coverage

  • Common carrier travel accident: Up to $500,000.
  • Trip interruption insurance: Up to $5,000 per insurance person (maximum $25,000).
  • Auto rental collision/Loss damage: Comprehensive coverage for rented vehicles with a maximum MSRP of $65,000.
  • Delayed and lost baggage: Up to $1,000 per individual.
  • Extended warranty and purchase security: Protection for most items charged to the card.

Extras

  • Option to waive the annual fee with the TD Borderless Plan bank account, provided certain conditions are met. Additionally, cardholders can enjoy a 10% discount on Avis car rentals.

How the TD U.S. Dollar Visa* compares

This card falls into the category of foreign exchange rate credit cards, designed primarily for travel and international shopping. When considering such a card, it's essential to compare the market to ensure you're making an informed choice.

TD U.S. Dollar Visa* Card vs Royal Bank U.S. Dollar Visa Card

The RBC Royal Bank's U.S. Dollar Visa Card, with a $65 USD annual fee, offers benefits like guaranteed hotel reservations. Plus, you can earn one RBC Rewards point for every U.S. dollar charged. However, the TD U.S. Dollar Visa* Card stands out with its option to waive the annual fee and its comprehensive insurance coverage.

TD U.S. Dollar Visa* Card vs. Scotiabank Passport Infinite® Visa

No, the Scotiabank Passport Infinite® Visa is not a U.S. Dollar credit card, but it charges no foreign exchange fees. It also happens to be a great travel credit card with a strong welcome bonus, strong earning rates on Scene+ points, and airport lounge access. However, its annual fee of $150 may dissuade you. 

TD U.S. Dollar Visa* Card vs. Brim Mastercard

If you’re looking for a credit card that charges no foreign transaction fees and no annual fee, check out the Brim Mastercard. You also earn 1 point per $1 spent and load you up with some insurance for those purchases including extended warranty, purchase protection, mobile device, event ticket cancellation and even travel accident insurance, but only up to $300,000. TD’s insurance is better and you can get that annual fee waived by banking with TD, but if you want cash back rewards, consider the Brim Mastercard. 

Is the TD U.S. Dollar Visa* worth it?

The TD U.S. Dollar Visa* Card is a solid choice for Canadians frequently transacting in U.S. dollars, whether you’re travelling or shopping online. Even with its annual fee, it offers significant value, especially with its insurance benefits. 

But if cashback rewards are what you seek, explore other options. Overall, for its niche audience, this card comes highly recommended.

FAQs

  • Can you get the TD U.S. Dollar Visa* card annual fee waived?

    +

    Yes, if you apply for TD’s Borderless bank account plan, but know that that bank account charges $4.95/per month, or $59.40 for the year vs. the card’s annual fee of $39 USD. If you keep $3,000 USD in the Borderless plan, the monthly fee is waived.

  • How do I pay TD U.S. Dollar Visa* online?

    +

    Login to your TD account, select bills, select your U.S. Dollar Visa* card and make the payment either in Canadian or American dollars.

  • What car rental insurance is included with the TD U.S. Dollar Visa*?

    +

    Pay for the rental car with your card and you can waive the insurance fees for any car up to $65,000 for up to 48 consecutive days.

About our author

Tyler Wade
Tyler Wade, Content strategist & writer
More from this author

Tyler Wade has worked in personal finance for over 5 years writing for brands like Ratehub, Forbes, KOHO, and now Money.ca. He was the host and producer of the Real Money Talk podcast. He's the father of two, husband to one, and loves all things tiny.

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