I love free stuff!

Sometimes simple, no-cost changes can result in a few extra perks!  I recently signed up for a TD Infinite First Class Visa as part of TD’s $250 account opening promotion (I was planning on switching my accounts to TD anyways).  My original intention was to apply for the card to qualify for the new account bonus; however I quickly realized that the benefits of the TD Infinite Visa card are much better than my primary card at the moment (PC Financial MasterCard):

Estimated value of rewards based on my $10,000 of annual spend:

TD Infinite Visa

  • $10,000 X 3 points per dollar = 30,000
  • 30,000 points = $150 credit towards travel expenses

PC Financial MasterCard

  • $10,000 X 1% = $100 towards groceries at The Real Canadian Superstore

By switching I get an additional $50 of benefits each year.  The TD Infinite Visa also comes with other perks such as travel cancellation coverage, warranty extension and according to the web site the points do no expire.

There is a slight difference as the TD reward dollars can only be applied to travel purchases; so it’s only worthwhile if you do plan on travelling at some point.  However, since the rewards can be applied towards hotel rooms and car rentals I sure we will be able to use them at some point in the future even if we are not flying somewhere.

It is also important to note that this is a bit of an apples-to-oranges comparison since the TD Infinite Visa is a premium credit card with a $120 annual fee (while the PC MasterCard is free). I am also sure there are other cards out there with competitive or even better rewards. However, since the $120 fee is waived as part of the package of services included TD’s Select Service Account and I didn’t want to go through with additional effort to open cards at other institutions I still come out ahead!  Check out TD’s web site for all the details.

I’m sure there are lots of great rewards out there.  This recent experience was just a good reminder to look out for a better deal once in a while.

Do you have any recent changes, product switches, etc. that you recommend?  I would love to hear about them.

Disclaimer:  This blog has no professional association with any organizations or companies mentioned in the article.  The contents of the article are the personal opinion of the author at the time the article was posted and may be subject to change.  The blog and author are not responsible, nor will be held liable for any content posted by others in the blog comments.  Readers should complete their own due diligence prior to making any personal decisions.