TD Canada Trust has launched a brand new credit card to help Canadians manage the growing costs of owning and maintaining a car.
The new credit card that has been launched is the TD Drivers Rewards Visa Card, which is a no annual fee automotive rewards credit card.
The new TD Driers Rewards Visa Card allows cardholders to earn valuable TD Drivers Rewards Points towards the purchase or lease of ANY vehicle. No matter what make or model the car may be, new or used, the points can be used towards it.
How does the reward system work?
Cardholders can earn up to 2% in TD Drivers Rewards Points on every purchase charged to the TD Drivers Rewards Card. I have made table outlining how you can earn reward points with this credit card:
|TD Drivers Rewards Points||Eligible Purchases|
|1 TD Drivers Rewards Point||for every $1 in purchases made to the Card|
|2 TD Drivers Rewards Points||For every $1 spent on gas purchases up to $700 (per statement period)|
|1.25 TD Drivers Rewards Points||$1 in automotive parts and services purchases at eligible merchants|
As you can see, you earn the most when you spend on gas, however the maximum per month is $700. Once you have reached that limit, you earn 1 TD Drivers Rewards Point for every $1.
As I previously mentioned, TD Drivers Rewards Visa Card gives you the ability to earn points towards the purchase or lease of any vehicle, whatever the make or model, new or used. However, it does not end there. Cardholders can use their points for almost everything that it takes to keep your vehicle running and looking good.
You can redeem your TD Drivers Reward Points towards accessories, automobile parts or services and much more. For example, eligible items includes windshield wipers, a GPS unit, tires and more.
Your reward points never expire, and you can redeem them in increments of 2,500 TD Drivers Reward Points, which is equivalent to $25.
The TD Drivers Rewards Visa Card is a great solution to anyone looking to earn points aimed towards their next vehicle.
If you apply before October 31st, 2011, you will earn 2,500 bonus points upon your first purchase.
In my opinion, I find the rewards system to be great, especially when you consider the fact that you earn double the reward points on gas purchases. In my case, I spend anywhere from $150 – $250 a month in gas, which means I would earn around 300 – 500 TD Drivers Reward points a month in gas alone. It Is not bad considering what the rewards could be used for.
I plan on doing a complete overview of the new TD Drivers Rewards Visa card in the near future, which will include the extra benefits that comes along with this brand new Visa card.
What do you think of the new TD Drivers Rewards Visa Card?