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TD US Dollar Visa Card Review

Pay with US dollars and save on foreign currency conversion fees with a TD U.S. Dollar Visa* Card.

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By

Sam Bourgi

Updated

30-second take

  • Get this card if you want to make purchases or pay bills in US dollars.
  • Choose something else if you want a low interest rate or balance transfer perks.
  • You must be a Canadian resident and not live in the US to qualify for this card.

The basics

Do you shop in the US or make online purchases at US-based retailers? If so, the TD US Dollar Visa Card might be your ticket to lower fees. The card is designed for Canadians who frequently transact in US dollars. With a low annual fee, it can help you save hundreds of dollars each year on foreign currency conversion rates. But don’t expect to save on interest rates as the TD U.S. Dollar Visa Card comes with interest rates of 19.99% on purchases and 22.99% on cash advances.

The TD US Dollar Visa Card has several advanced features that make shopping south of the border even easier. You can set your card up for Visa Checkout, which allows you to make online purchases in just a few clicks. You can also connect your card to Apple Pay, which allows you to make contactless payments at shops, restaurants, and other retailers.

The perks

  • No foreign currency conversion fees. Avoid paying credit card foreign currency conversion rates and fees when making purchases or paying bills in US Dollars.
  • Optional insurance coverage. For a small fee on your balance, the TD US Dollar Visa Card offers protection against trip interruption, travel accidents, and lost baggage.
  • Save on car rentals.. The TD US Dollar Visa Card is your ticket to 10% off Avis car rentals.
  • Apple Pay. By connecting your card to Apple Pay, you can make secure purchases in stores, apps and on the web through your Apple device.
  • No extra card fee. Add authorized users to your TD US Dollar Visa Card at no extra charge.
  • Opportunity for high credit limit. The minimum credit limit for the TD US Dollar Visa Card is US$1,000, which is higher than other introductory cards.

What to watch out for

  • Annual fee. In addition to interest payments, this card comes with an annual fee of US$39.
  • High interest rates. As mentioned earlier, don’t expect to save on interest charges with a TD US Dollar Visa Card. You will pay 19.99% on purchases and 22.99% on cash advances.
  • No rewards. You don’t get points or cashback when you use this card.

TD US Dollar Visa Card interest rates

Interest TypeInterest Rate
Purchase interest rate19.99%
Cash advance rate22.99%
Standard balance transfer rate22.99%

What do other customers say?

The TD US Dollar Visa Card appeals to Canadian residents who frequent the US, get paid in US dollars or spend money at retailers that only accept US dollars. For this demographic, it’s much easier to pay in US dollars rather than deal with costly conversion fees, which are likely to add up more than the US$39 annual fee.

What should I know before I apply

Bottom line

The TD US Dollar Visa Card is a standard credit card with one major difference: It lets you transact entirely in US dollars without having to worry about costly conversion fees. Canadian residents who frequent the US or regularly use US dollars will find this credit card very convenient when doing business south of the border.

Frequently asked questions about the TD US Dollar Visa Card

Picture : td.com/ca

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Written by

Sam Bourgi

Sam Bourgi was a contributing writer to Finder.com, where he specializes in financial markets. He has spent the past nine years focused on economics, markets and cryptocurrencies. His work has been featured in and cited by some of the world's leading newscasts, including Barron's, Yahoo, CBOE and Forbes. See full profile

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