Who this card is for
A good fit if you…
- People who will carry a purchase balance, or who have a large near-term spend they cannot pay immediately, and who want 0% on those purchases for the listed intro window rather than a transfer from another issuer.
- Applicants who are Canadian residents of majority age — that is the eligibility text on this card — and who will have a plan to clear the balance before the promotional rate ends.
- TD customers who want extra cards at no extra annual fee. The issuer currently lists additional cards at $0.
- Anyone who compared BMO and CIBC low-rate cards and whose problem is new spending, not an existing card’s balance.
Skip it if you…
- Anyone who pays the statement in full every month. A 12.90%-class rate does nothing if you never pay interest; TD Cash Back Visa currently lists $0 and a 1% grocery-and-bills stack for that habit.
- People who needed to move a balance from another bank. This card’s intro is on purchases. BMO Preferred Rate is 0% on balance transfers for 18 months with a 3% fee. CIBC Select is a separate transfer teaser.
- Households that shop Costco Canada on this plastic. This is a Visa; the warehouse wants a Mastercard.
- Rewards collectors. There is no rewards program; the Starbucks Stars line is a perk, not a cash-back program.
Pros and cons
Pros
- The purchase rate is the lowest of the three big-bank low-rate cards in this batch, and the cash-advance rate currently matches it — unusual, and still not a reason to take cash advances.
- The current welcome line is 0% on purchases for the first six months from account opening, with an offer-effective date in the detailed feature list. That is the right teaser if the debt is new spend, not an old balance.
- The annual fee currently sits below BMO Preferred Rate and CIBC Select in our tables, with extra cards at $0.
- Eligibility is residency and age of majority, not a printed household-income figure like CIBC Select’s listing.
- Visa acceptance is straightforward at Canadian merchants that still skip American Express — just not at Costco.
Cons
- There is no real rewards program. Features currently mention 50% more Stars at participating Starbucks stores; detailed features say N/A. That will not de-lever a balance.
- The welcome-value estimate currently says N/A, so the first-year snapshot on this page will not show a bonus-minus-fee figure — correct, because 0% on purchases is not a cash gift.
- After the six-month window, you are on the ongoing purchase rate plus a $25-class fee. If the balance is still there, you needed a payoff plan, not another teaser.
- A Visa cannot check out at Costco Canada. BMO Preferred Rate is the low-rate Mastercard if the warehouse is the bill.
- Check the issuer’s site for current insurance coverage. This is a low-rate Visa, not a travel-medical product.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $25
- Estimated welcome bonus value
- N/A
- Bonus minus fee (estimate)
- —
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
The fee table shows a $25-class card for the primary cardholder; extra cards currently show $0. There is no first-year rebate.
The welcome-value estimate is N/A, so the first-year snapshot on this page will not manufacture a cash bonus from a 0% purchase teaser. Year one is $25 versus six months of 0% on purchases, then the 12.90%-class ongoing rate.
Year two is $25 versus that rate with no teaser. If you pay in full, TD Cash Back Visa at $0 is the better TD product.
If you needed to transfer a balance in, BMO Preferred Rate is 0% for 18 months with a 3% fee, and CIBC Select is the other transfer-shaped Visa. If Costco is the revolving bill, BMO’s Mastercard network is the constraint, not TD’s rate.
Offers change; the detailed welcome text currently names an effective date. Pay the promo down before it ends.
Rewards and earn rates explained
Rewards program: N/A
This card is not a cash-back Visa. There is no rewards program.
Features mention 50% more Stars at participating Starbucks stores, with conditions; detailed features say N/A. Treat Stars as a side perk if you already buy coffee at those stores, not as a reason to pick a low-rate card.
Put new purchases you cannot pay immediately here during the 0% window; put grocery and bills you pay in full on TD Cash Back Visa Card; put an incoming transfer on BMO Preferred Rate or CIBC Select. Costco Canada is still Mastercard-only, so this Visa will not help at the warehouse even at 12.90%.
Welcome bonus: how to unlock it
Get a 0% promotional interest rate on Purchases for the first 6 months from Account opening, plus an Annual Fee rebate for the first year
The current welcome line is a 0% promotional interest rate on purchases for the first six months. The detailed feature list adds that the window runs from account opening, that conditions apply, and that the offer was effective as of a dated 2025 start — verify it is still live on TD’s page.
The welcome-value estimate is N/A, which is honest: 0% is not a dollar wrap. No bonus eligibility terms are listed.
Do not treat this as a balance-transfer offer copied from BMO or CIBC. Do not start a six-month shopping spree you cannot repay when the promotional rate ends.
FAQ
Is the TD Low Rate Visa Card worth it in 2026?
It is worth it when you will carry purchase balances, the 0% window and 12.90%-class ongoing rate beat the card you have now after the $25 fee, and you have a payoff date. It is not worth it as a cash-back Visa or as a card you pay in full.
TD Low Rate vs BMO Preferred Rate vs CIBC Select?
This Visa currently lists the lowest ongoing purchase rate of the three and 0% on purchases for six months. BMO Preferred Rate charges 13.99% on purchases and gives new accounts 0% on balance transfers for 18 months with a 3% fee (minimum transfer $100). The $29 annual fee is waived in year one. CIBC Select is a separate transfer-shaped Visa.
Match purchases versus transfers to the debt you actually have.
Should I use this if I pay in full every month?
No. A low purchase rate only saves money when you pay interest. If you pay in full, TD Cash Back Visa Card currently lists $0 and a grocery-and-bills cash-back mix, which this card does not.
Is the cash-advance rate really the same as the purchase rate?
The purchase and cash-advance rates are currently the same. That is still not a cheap way to take cash: cash advances typically have no grace period even when the rate matches purchases. Confirm TD’s agreement, and do not plan ATM withdrawals as a feature.
Does this card charge foreign-exchange fees?
Most Canadian low-rate Visas add a foreign-conversion fee on foreign-currency purchases. This is a domestic rate card, not a no-FX travel card. For overseas spend, compare Scotiabank Passport Visa Infinite, and confirm TD’s current FX rate in the agreement.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- BMO Preferred Rate Mastercard review · BMO · $29 annual fee
- CIBC Select Visa Card review · CIBC · $29 annual fee
- TD Cash Back Visa Card review · TD · $0 annual fee
