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Td credit card 200 cash back


td credit card 200 cash back

The TD Cash Credit Card earns 3% cash back on dining and 2% at grocery stores. It's rewarding for foodies, but you must live in certain states to apply. Earn a $ bonus (20, points) after you spend $ on purchases in your first 3 months from account opening. $0 annual fee. 3% cash back on restaurants and. Our review of the TD Business Solution Credit Card looks at the cash back rewards program for business spending -- compared to the best cash.
td credit card 200 cash back

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TD Cash Credit Card Review: Worth It? (\u0026 Alternative Options)

Your Alternatives To The Top 3 TD Credit Cards In Canada

Your selection of TD credit cards includes a wide variety of rewards options – including Aeroplan, cash back, and TD Rewards.

While you can get some very valuable rewards out of these options, they unfortunately aren’t always the very best in the market. But they ARE some of the best…just never really seem to make the top spot.

With that in mind, let’s take a look at the 3 best TD credit cards on the market – and how they compare to their biggest competitors.

The best TD credit cards (and their alternatives)

Here are the top 3 TD credit cards in Canada – plus their top competitor.

Best Aeroplan credit card: TD® Aeroplan® Visa Infinite* Card

If you love Aeroplan, the TD® Aeroplan® Visa Infinite* Card is one of our top Aeroplan credit cards on the market – with high earn rates, a big welcome bonus, and some Air Canada perks to seal the deal.

But one of the biggest downsides of this card is its income requirements of $60, personal and $, household. Plus it’s not actually the best earn rate among Aeroplan cards you can get in Canada.

Top alternative: American Express Cobalt Card

If you want an Aeroplan credit card, chances are you want to earn as many Aeroplan points as possible. Well that’s exactly what you’ll get with the American Express Cobalt Card (which also happens to be Canada’s #1 card for 4 years running).

Though this card doesn’t earn Aeroplan points directly, it does earn American Express Membership Rewards – which can be transferred to Aeroplan at a ratio.

With that in mind, here’s the earn rates of this credit card:

  • 5 points per home remedies for treating poison ivy rash spent on groceries and restaurants
  • 3 points per $1 spent on streaming services
  • 2 points per $1 spent on gas, transit, and travel
  • 1 point per $1 spent on all other purchases

Considering Aeroplan points are worth up to 2 cents each, that means you could get up to 10% return on your purchases – an td credit card 200 cash back number.

To top it off, you also don’t have to worry about minimum income requirements with this card (or any Amex card, for that matter).

Learn more here:

Best cash back card: TD Cash Back Visa Infinite* Card

If you prefer straight-up cash back, the TD Cash Back Visa Infinite* Card is the best cash back credit card in TD’s arsenal – giving you a valuable welcome bonus and high regular rates on your everyday spending.

Top alternative: BMO CashBack World Elite Mastercard

Want even higher cash back earn rates? The BMO CashBack World Elite Mastercard has you covered. You’ll get:

  • 5% cash back on groceries, up to $ in monthly spend
  • 4% cash back on transit, up to $ in monthly spend
  • 3% cash back on gas, up to $ in monthly spend
  • 2% cash back on recurring bills, up to $ in monthly spend
  • 1% cash back on all other purchases

And though the spending caps are a bit restrictive, the ability to earn up to 5% cash back on some of the most common spending categories is a very valuable asset.

But this card doesn’t just stop at the cash back earn rates. You’ll also get a comprehensive insurance package featuring 13 different types of coverage (one of the best on the market).

Learn more about this card right here:

Best TD flexible travel rewards card: TD First Class Travel Visa Infinite* Card

If you like to collect TD Rewards points, for their flexibility and ease of use when redeeming for travel, the TD First Class Travel Visa Infinite* Card is your best bet.

The biggest downside is each TD Rewards point isn’t that valuable – it’s worth about cents per point when redeemed for travel booked through Expedia. Redeem for any travel charged to the card, and it goes down to cents per point.

Top alternative: MBNA Rewards World Elite Mastercard

So if flexible rewards are what you’re looking for, the MBNA Rewards World Elite Mastercard can give you more value for every point you earn – in fact, it’s almost double the value.

That’s because each MBNA Rewards point is worth 1 cent when redeemed for travel, making it as valuable as earning cash back.

So if you want your points to be worth more, you’ll be earning at the following rates:

  • 5 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $50, spent annually per category)
  • 1 point per $1 spent on all other purchases

But that’s not all this card has buy amazon stock offer. You’ll also get 12 types of insurance – including the rare mobile device insurance coverage (which protects your cell phone).

Learn more about this card here:

Getting your TD credit card for no fee

These top 3 TD credit cards can earn you plenty of rewards on everything you buy. But you know what would make them even better?

If they had no annual fee.

And we’re not just talking the first year, but free forever.

That’s exactly what you can get if you have the TD All-Inclusive Banking Plan – a premium bank account that waives the annual fee for 1 of 5 different TD credit cards. And yes, all 3 cards listed here are eligible for the waiver.

Just keep in mind that the account has a monthly fee of $, so that’ll end up costing you $ a year – significantly more than the annual fee of these cards. That being said, if you keep $5, in your account at all times, the monthly fee gets waived too.

What about you?

Do you have an eye on a TD credit card?

Or if you already have one in your wallet, how has it been treating you?

Let us know in the comments below.

FAQ

What’s the best TD credit card?

We consider the TD® Aeroplan® Visa Infinite* Card to be the best TD credit card, especially since it skyrockets your earn rates in one of Canada’s top reward programs. That said, there are better Aeroplan credit cards on the market. Find out more here.

How do I apply for TD credit cards?

You can apply for TD credit cards directly on their website. You’ll be prompted to create a new TD account, or log in if you already have one, then be guided through the application process. It should only take a few minutes and TD offers instant approval – so you may be approved right away.

How can I contact TD credit card customer service?

The number to reach TD for credit card-related issues is There’s also a number on the back of your card that you could contact.

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This offer applies to the following Eligible Cards: CIBC Dividend® Visa Infinite* Card and CIBC Dividend Platinum® Visa* Card. You can qualify for this offer if you apply and are approved for a new eligible card beginning on October 28,

Offer applies to newly approved card accounts only; transfers from an existing CIBC credit card to a CIBC Dividend® Visa Infinite* Card and CIBC Dividend Platinum® Visa* Card are excluded. This offer is not transferable. This offer may be withdrawn or changed without prior notice at any time. This offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by CIBC in its sole discretion.

A one-time annual fee rebate for you (the primary cardholder) and up to three authorized users added at the time of the application. This offer does not apply to annual fees for authorized users that are added after you submit your application. This offer applies for the first year only. If your application for an eligible card is not approved, you may be considered for another card (as disclosed in your credit card application). If you are approved for that card, this annual fee rebate offer will apply in the amount of the annual fee, if any, of the alternate card. If you qualify, the rebate will be awarded to you and will appear as a credit against the applicable annual fee(s) within two statements. Your new credit card account must be open and in good standing at time the rebate is awarded.

The cash back is accumulated each month, beginning with the January statement and ending with the December statement. Only Primary Cardholders are permitted to make a cash back redemption. Authorized Users are not eligible to redeem cash back dollars. The Primary Cardholder may redeem cash back at any time during the year provided they have a minimum cash back balance of $25 at the time the redemption request is made. The minimum cash back redemption amount is $ Cash back will be credited to the Primary Cardholder’s account within 5 days of the date the redemption request is made. Any cash back amount that is not redeemed by the Primary Cardholder by the last day of the period covered by your December statement will be automatically redeemed, resulting in your cash back balance being reset to zero, and applied as a credit on your next statement, or, in limited circumstances, at such other time as may be permitted by CIBC. CIBC is not required to credit your account with cash back earned during a monthly statement period if your credit card account is not open and in good standing at any time during a monthly statement period. Credit card account must also be open and in good standing at the time the cash back is redeemed.

As awarded on August 18, by Rewards Canada. Learn more at mynewextsetup.us Opens in a new window.

1 For CIBC Dividend® Visa Infinite* Card:

Earn 4% cash back on purchases (less returns) at merchants classified by the credit card network as (i) grocery stores and supermarkets or (ii) gas service stations and automated fuel dispensers. Earn 2% cash back on purchases (less returns) at merchants classified by the credit card network as (i) local and suburban commuter transportation in Canada including subway, streetcar, taxi, limousine and ride sharing services (excludes merchants that may be classified as travel services or travel bookings such as air transport, car rentals and cruises), (ii) eating places and restaurants, drinking places and fast food restaurants, or (iii) recurring payments that are pre-authorized with a merchant to occur on a regular schedule (e.g. daily, monthly or annually) and classified by the merchant as recurring. All other purchases earn 1% cash back. The 4% and 2% cash back offers are only available on the first $80, in net annual card purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20, on grocery stores, supermarkets, gas service stations and automated fuel dispensers, commuter transportation, eating and drinking places and restaurants or on recurring payments on your account, whichever comes first; after that, net card purchases at all merchants, including grocery stores, supermarkets, gas service stations and automated fuel dispensers, commuter transportation, eating and drinking places and restaurants or on recurring payments will earn cash back at the regular rate of 1%. The $80, limit and the $20, limit will reset to zero after the day your December statement is printed. Terms, conditions and eligible merchant/merchant categories may change without notice. Cash back is earned on card purchases less returns and not on cash advances, CIBC Global Money Transfers, interest, fees, balance transfers, payments and regular CIBC Convenience Cheques. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate. We may make special offers, including offers to earn cash back on CIBC Global Money Transfers, which may be for a limited period and contain additional terms and conditions.

For CIBC Dividend Platinum® Visa* Card:

Earn 3% cash back on purchases (less returns) at merchants classified by the credit card network as (i) grocery stores and supermarkets or (ii) gas service stations and automated fuel dispensers. Earn 2% cash back on purchases (less returns) at merchants classified by the credit card network as (i) local and suburban commuter transportation in Canada including subway, streetcar, taxi, limousine and ride sharing services (excludes merchants that may be classified as travel services or travel bookings such as air transport, car rentals and cruises), (ii) eating places and restaurants, drinking places and fast food restaurants, or (iii) recurring payments that are pre-authorized with a merchant to occur on a regular schedule (e.g. daily, monthly or annually) and classified by the merchant as recurring. All other purchases earn 1% cash back. The 3% and 2% cash back offers are only available on the first $80, in net annual card purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20, on grocery stores, supermarkets, gas service stations and automated fuel dispensers, commuter transportation, eating and drinking places and restaurants or on recurring payments on your account, whichever comes first; after that, net card purchases at all merchants, including grocery stores, supermarkets, gas service stations and automated fuel dispensers, commuter transportation, eating and drinking places and restaurants or on recurring payments will earn cash back at the regular rate of 1%. The $80, limit and the $20, limit will reset to zero after the day your December statement is printed. Terms, conditions and eligible merchant/merchant categories may change without notice. Cash back is earned on card purchases less returns and not on cash advances, CIBC Global Money Transfers, interest, fees, balance transfers, payments and regular CIBC Convenience Cheques. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate. We may make special offers, including offers to earn cash back on CIBC Global Money Transfers, which may be for a limited period and contain additional terms and conditions.

2 To participate in this offer, you must have my premier credit card com products CIBC Dividend Visa Infinite Card. For full offer details, refer to the Journie Rewards Program Terms and Conditions CIBC and (PDF, KB) Opens in a new window.

3 Participating locations include select retail Chevron, Fas Gas (after Oct 6, ), Pioneer or Ultramar branded gas stations in Canada. For a full list of participating stations, visit the Journie website Opens in a new window.

4 You will save three cents ($) per litre at the time of your purchase if you present your Journie Rewards card or app and use your linked CIBC card to pay. Available at participating locations on any grade of gasoline or diesel up to litres per transaction. To get the discount, you must be enrolled in and use CIBC Online Banking® or the CIBC Mobile Banking® App to link your eligible CIBC card(s) to Journie Rewards. Card linking may take up to two (2) business days. To participate in this offer, you must have a CIBC debit card or personal credit card issued by CIBC. All Simplii cards are excluded. Please see the CIBC Journie website Opens in a new window. for full program terms and conditions.

5 Once your Journie Rewards account has reached three hundred () Journie Points, you will automatically save an additional seven cents ($) per litre on your next fuel purchase transaction made within 30 days, up to a maximum of litres. Once you pass points, your balance will reset and start counting toward points and your next seven cents ($) fuel discount. See Journie website Opens in a new window. for more details.

6 CIBC foreign exchange rates apply. A CIBC Global Money Transfer and a Foreign Exchange transaction counts towards your allowable transaction limit, bank account transaction fees may apply. Must have a CIBC chequing, savings, or personal line of credit account or pay using an eligible CIBC credit card to send a CIBC Global Money Transfer. Most transfers are completed within business days. Only primary credit cardholders can use their eligible credit card account to pay for the CIBC Global Money Transfer service.

Read the CIBC Global Money Transfer Agreement. (PDF, KB) Opens in a new window.

7 This offer applies to CIBC Global Money Transfers posted to the primary cardholder’s credit card account between December 1, and January 31, Get 1% cash back for every $1 CAD spent on a CIBC Global Money Transfer. This offer may be withdrawn or changed without prior notice at any time. This offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by CIBC in its sole discretion.

8 CIBC does not charge interest on Global Money Transfers appearing on your statement if we receive full payment of the Amount Due (or for Global Money Transfers that have been converted to an Installment Plan during that statement period, if we receive payment in full of the Balance) by the payment due date for that statement. Capitalized terms in this footnote have the meanings set out in the CIBC Cardholder Agreement.

Interest rates may change from time to time. "Cash" means cash advances, balance transfers and Convenience Cheques

10 Cash advances do not earn cash back. Cash advances bear interest from the date they are taken from your credit card account and are subject to available credit and available cash.

11 Insurance coverage(s) included with CIBC credit cards are underwritten by Royal & Sun Alliance Insurance Company of Canada (RSA). Different cards will have different coverage(s). To learn about which coverage(s) are included with a specific card, and important information regarding coverage eligibility requirements, benefits, limitations and exclusions, go to Agreements and Insurance and review the insurance certificate(s) in your card package. Some insurance coverage(s) require purchase(s), auto rentals, common carrier fares, hotel/motel and other trip costs to be charged to the card to activate coverage. Other conditions may also apply. Auto Rental Collision/Loss Damage Insurance (CLDI) is available for automobile rentals of up to 48 days. The full cost of the rental must be charged to the card and the rental agency's Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) must be declined. CLDI provides coverage up to the actual cash value (ACV) of the rental vehicle as defined in your insurance certificate. Note that some rental agencies may assess their damages at an amount greater than the ACV of the rental vehicle and you may be liable to them for the difference. Before declining the rental agency's CDW or LDW, you should read carefully and compare the terms of the rental agreement, the CLDI insurance certificate in your card package and any other insurance you own to decide which coverage best meets your protection needs. Out-of-Province Emergency Travel Medical Insurance (TMI) covers the primary cardholder, their spouse and dependent children for the first 15 days of a trip if the primary cardholder and covered person is age 64 and under (for all cards that have TMI coverage dependent children must be age 20 or under, unless they have a permanent physical or mental deficiency); TMI may not cover medical procedures performed without pre-approval. TMI and Trip Interruption Insurance may not cover certain pre-existing health/medical conditions. Certain RSA coverages are "excess insurance" (all other sources of insurance and recovery must be exhausted before coverage is available). For more information, call RSA toll-free at Opens your phone app. in Canada, continental U.S and Hawaii or collect from elsewhere at Opens your phone app. You can also visit mynewextsetup.us Opens a new window in your browser.

12 CIBC Payment Protector Insurance for Credit Cards is optional creditor’s group insurance underwritten by Canadian Premier Life Insurance Company under a group policy issued to CIBC as group policyholder.

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The Toronto-Dominion Bank (TD) Q4 Earnings Call Transcript

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Image td credit card 200 cash back The Motley Fool.

The Toronto-Dominion Bank(NYSE:TD)
Q4  Earnings Call
Dec 2, p.m. ET

Contents:

  • Prepared Remarks
  • Questions and Answers
  • Call Participants

Prepared Remarks:

Operator

Good afternoon, everyone. Welcome to the TD Bank Group Q4 Earnings Conference Call.

I would now like to turn the meeting over to Ms. Gillian Manning. Please go ahead, Ms. Manning.

Gillian Manning -- Head of Investor Relations

Thank you, operator. Good afternoon and welcome to TD Bank Group's Fourth Quarter Investor Presentation. We will begin today's presentation with remarks from Bharat Masrani, the Bank's CEO, after which Kelvin Tran, the Bank's CFO, will present our fourth quarter operating results. Ajai Bambawale, Chief Risk Officer, will then offer comments on credit quality, after which we will invite questions from prequalified analysts and investors on the phone. Also present today to answer your questions are Teri Currie, Group Head, Canadian Personal Banking; Greg Braca, President and CEO of TD Bank America's Most Convenient Bank; and Riaz Ahmed, Group Head, Wholesale Banking.

Please turn to Slide 2. At this time, I would like to caution our listeners that this presentation contains forward-looking statements, that there are risks that actual results could differ materially from what is discussed and that certain material factors or assumptions are applied in making these forward-looking statements. Any forward-looking statements contained in this presentation represent the views of management and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities and anticipated financial performance. Forward-looking statements may not be appropriate for other purposes.

I would also like to remind listeners that the Bank uses non-GAAP financial measures such as adjusted results to assess each of its businesses and to measure overall Bank performance. The Bank believes that adjusted results provide readers with a better understanding of how management views the Bank's performance. Bharat will be referring to adjusted results in his remarks. Additional information on items of note, the Bank's use of non-GAAP and other financial measures, the Bank's reported results and factors and assumptions related to forward-looking information are all available in our Annual Report to Shareholders.

With that, let me turn the presentation over to Bharat.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you, Gillian, and thank you, everyone, for joining us today. Q4 was a great quarter for TD and it caps off a strong year. Earnings were CAD billion for the quarter, and EPS was CAD, up 31% from a year ago. On a full-year basis, earnings were CAD billion, and EPS was CAD up nearly 50% reflecting higher revenue and recovery in provisions for credit losses.

Our retail businesses recorded strong volume and fee income growth as we added new customers and deepened existing relationships in an environment of rising activity. Our Wholesale Bank built on last year's record performance, winning key client mandates, and continuing to advance our US dollar strategy. And our CET1 ratio ended the year at %, up more than basis points from the fourth quarter of last year. Reflecting these strong results, we declared a CAD dividend increase today bringing our dividend to CAD per share per quarter. And we announced our intention to repurchase up to 50 million common shares for cancellation subject to regulatory approval. We are pleased to be able to return capital to shareholders, while retaining significant flexibility to continue investing in organic and inorganic growth opportunities.

I'm proud of what we've accomplished this year, we've stood shoulder-to-shoulder with our customers, colleagues, and communities, supporting them through the worst of the pandemic and helping them participate in the recovery. There is still much work to do to ensure that this recovery is sustained and sustainable. But we meet the challenge from a position of strength, powered by our proven business model, guided by our long-term strategy and investing purposefully in our businesses to position them for future growth.

Our Canadian Retail segment earned CAD billion this year, with higher revenues across the Banking, Wealth, and Insurance businesses. We delivered record real estate secure lending originations, card retail sales, wealth assets and insurance premiums. And we extended our lead in deposits and personal money movement as customers responded to our expanded advice and product offerings by bringing us more of their business. We are winning with customers with the capabilities we've developed to deliver legendary experiences. Our TD Aeroplan Visa Infinite and MBNA Rewards Platinum Plus cards received top billing in several industry reviews, reflecting the investments we've made to enhance the depth and union savings bank mt washington of our premier suite of credit cards.

In addition to being named Best Digital Bank in North America by Global Finance. We were named Canada's Best Consumer Digital Bank, ranking number one in seven categories, including Best Mobile Banking App, Best Information Security and Fraud Management and Best Open Banking APIs, as well as Most Innovative Digital Bank for the third year running. And as the number one financial institution patent filer in Canada, with over patents granted to date, we are investing in the R&D to keep TD at the forefront of shaping the future of banking.

Our US Retail Bank earned $ billion in fiscal with improving top line growth throughout the year, a strong deposit volume, PPP loan forgiveness and a steady recovery in consumer lending and fee income help offset continued margin pressure. We built on our lead in core deposits ranking eighth nationally supported by further market share gains. We saw personal loan volumes rebound in latter half of the year with higher year end balances in mortgages cards and indirect auto. We ranked number one for SBA lending in our Maine to Florida footprint for a fifth year running. And we were the number seven PPP lender nationwide, helping small business customers obtain forgiveness for nearlyloans with gross carrying value of almost $9 billion. While this is weighing on our loan balances in the near-term, it has strengthened our leadership with small business customers in our footprint that are at the heart of our One TD strategy. That One TD strategy also helped us earn two J.D. Power Awards this year, TD Bank America's Most Convenient Bank ranked first in J.D. Power's Small Business Banking satisfaction study in the south region, our third win in this category. And TD Auto Finance took top spot in the dealer finance satisfaction study for non-captive lenders with prime credit for the second year in a row.

And we continue to deliver on our omni-channel strategy, amplifying unexpectedly human customer experiences with enhanced digital capabilities, including launching a new robo-advisor solutions for our wealth clients and entering into a data access agreement with Akoya designed to help customers share their data with fintechs and aggregators, safely and securely as we continue to demonstrate principled leadership on open banking.

Our Wholesale Banking segment delivered strong results this year, with earnings of CAD billion. Over the last several years, TD Securities has made significant strides building on its strengths in Canada and investing in the global expansion of its US dollar strategy. The dealer has grown its revenue base by almost 35% sinceadded over new corporate lending clients and expanded its product industry and ESG advisory capabilities. The progress is evident in strong client activity across the dealers footprint. This quarter our Canadian Banking team acted as financial advisor to Agnico Eagle on a spending merger with Kirkland Lake Gold for a combined market capitalization of $24 billion, the second largest gold M&A transaction ever and the largest gold merger of equals transaction.

In the US, we've grown our US prime services business adding 27 funds, and $8 billion in gross assets over the last year. And in Europe, TD Securities as one of five joint lead managers and the only Canadian dealer on the European Union's EUR12 billion, integral green bonds, the largest green bond ever -- issue ever. Overall, I'm very pleased with our performance this year. We see continued upside to volume and fee income as the recovery progresses, as well as the potential for higher spread revenue from rising rates. Coupled with our proven business model, the growth opportunities in each of our businesses and our ability to deploy capital, we believe we can grow adjusted EPS by 7% to 10% over the medium-term. While we have good momentum entering the year, the road ahead is likely to be bumpy, and it will be challenging to meet our medium-term objectives in In addition to a complex macroeconomic environment, we're likely to see normalizations in PCLs, insurance claims and wealth trading activity, along with declining revenue related to PPP loan forgiveness.

As always, we will stay focused on our long-term strategy and continue to execute on our enterprise priorities, delivering more value for customers across our distribution channels, leveraging our data, analytics and AI capabilities to elevate the customer experience, transforming the way we work to achieve better, faster outcomes, investing in our colleagues to ensure they have the skills and resources to grow and succeed in a changing world and continuing to embed ESG in everything we do from meeting our commitments to increase the representation of women, black and indigenous people in our executive ranks, to executing in on our climate action plan and helping build the sustainable future the world urgently needs.

To wrap up, I'm proud of the strong financial results and returns we've generated for shareholders this year. I'm equally proud of the value we delivered for all our stakeholders. Last month, TD was named to the Dow Jones Sustainability World Index for the eighth year in a row, a measure of our long track record of good environmental stewardship, social responsibility, and corporate governance. We were also recognized as an employer of choice in numerous surveys, one of the world's best employers in according to Forbes, a top diversity employer according to Canada's Best Diversity Employers and DiversityInc. in the US, home to a top team and to executives in American Bankers Most Powerful Women program and a member of the Bloomberg Gender Equality Index for five years running. But the greatest recognition is the 90, TD Bankers who choose to make their careers at TD. They are the real force behind our success. And the reason I'm confident we will continue to build on these achievements as we pursue our shared vision to be the better Bank, I thank them for their hard work and dedication.

And finally, a word to our customers, td credit card 200 cash back and communities in British Columbia affected by the devastating flooding. We are thinking of you and we'll continue to focus on providing whatever support we can through this upheaval.

With that, I'll turn things over to Kelvin.

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Thank you, Bharat. Good afternoon, everyone. Please turn to Slide Forthe Bank reported earnings of CAD billion and earnings per share of CAD, both up 20%. Adjusted earnings were CAD billion and adjusted EPS was CAD, up 47% and 48%, respectively. Revenue decreased 2%, which includes the impact of the CAD billion pre-tax net gain on the sale of the Bank's investment in TD Ameritrade in the fourth quarter last year. Adjusted revenue increase 1% or % ex FX and the insurance fair value change, reflecting strong fee income and volume growth, partly offset by lower retail margin and a decline in wholesale trading revenue from s elevated levels. Provision for credit losses was a recovery of CAD million, lower by CAD billion, primarily reflecting a performing PCL recovery compared with last year's build.

Expenses increased 7%, mainly reflecting an increase in the retailer program partners net share of the profits from the US strategic cards portfolio, primarily due to lower PCL. Absent this adjusted expenses increased % or % ex FX reflecting higher employee-related expenses, including variable compensation and higher spend supporting business growth. Because of the large year-over-year change in PCL, the accounting for the US strategic card portfolio continues to have a significant impact on total Bank expenses, pre-tax, pre-provision earnings and operating leverage. Slides 25 to 27, show how we calculate total Bank PTPP and operating leverage removing this impact, along with the impact of foreign currency translation, which was significant this year and the insurance fair value change. Slide 26 shows that after making these adjustments, total Bank PTPP was up 3% from fiscalreflecting strong revenue growth in the retail segment, partly offset by lower wholesale revenue.

Please turn to Slide For Q4, the Bank reported earnings of CAD billion and EPS of CAD, down 26% and 27%, respectively. Adjusted earnings were CAD billion and adjusted EPS was CAD, up 30% and 31%, respectively. Revenue declined 8%, which includes the impact of last year's pre-tax net gain on the sale of our stake in TD Ameritrade. Adjusted revenue increased 5% or % ex FX and the insurance fair value change, reflecting strong fee [Technical Issues] income and volume growth in the retail businesses, partially offset by lower wholesale trading-related revenue from Q4 's elevated levels. Provision for credit losses was a recovery of CAD million with impaired PCL more than offset by a performing PCL release.

Expenses increased 4% year-over-year, including an increase in the retailer program partners net share of the profits from the US strategic cards portfolio, primarily due to lower PCL. Absent this, adjusted expenses increased % or % ex FX reflecting higher employee-related expenses including variable compensation, and higher spend on professional and advisory services and marketing as we position ourselves for future growth, partially offset by higher corporate real estate optimization charges in the prior year. Total Bank PTPP with the what credit score you need for amazon credit card shown on Slide 25 to 27 was up 10% year-over-year on strong revenue growth. PTPP was down 2% quarter-over-quarter, mainly reflecting higher sequential expense growth.

Please turn to Slide Canadian retail net income for the quarter was CAD billion, up 19% year-over-year. On an adjusted basis, net income was up 17%. Revenue increased 8% reflecting higher volume growth and higher fee-based revenue in the Wealth and Banking businesses, partially offset by lower deposit margins, and a decrease in the fair value of investments supporting claims liabilities, which resulted in a similar decrease in insurance claim.

Average loan volume rose 8% reflecting 8% growth in personal volume and 11% growth in business volume. Average deposits rose 11%, including 8% growth in personal volumes, 17% growth in business volumes and 12% growth in wealth deposits. Both assets increased 24% reflecting market appreciation in new asset growth.

Net interest margin was %, down 4 basis points compared to the prior quarter, reflecting lower mortgage prepayment revenue. Total PCL of CAD53 million declined CAD47 million sequentially, reflecting a larger recovery in performing PCL this quarter. Total PCL as an annualized percentage of credit volume was %, down 18 basis points from the fourth quarter last year. Insurance claims increased 3% year-over-year, primarily reflecting less favorable prior years claims development and the higher current year claims from business growth, partially offset by improve current year claims experience.

Reported non-interest expenses increased 8% year-over-year, reflecting higher spend supporting business growth, including technology and marketing costs, higher employee-related expenses and variable compensation, partially offset by prior year charges related to the Greystone acquisition. Adjusted expenses increased 10%.

Please turn to Slide US Retail segment reported net income for the quarter was $ billion, up 66% year-over-year. US Retail Bank net income was a record $ million, up %, primarily reflecting lower PCL and higher revenue. Revenue increased 8% year-over-year, reflecting accelerated fee amortization from PPP loan forgiveness, growth in deposit volumes, higher valuation of certain investments, and higher fee income partially offset by lower deposit margins.

Average loan volumes decreased 6% year-over-year, reflecting a 10% decline in business loans, primarily due to PPP, loan forgiveness, pay downs and lower line usage. Personal volumes were down 1% year-over-year but up 2% sequentially, with growth in all major asset classes. Average deposit volumes excluding sweep deposits were up 14% year-over-year, personal deposits were up 16% including 23% growth in consumer checking and business deposits were up 11%, sweep deposits declined 2%.

Net interest margin was %, up 5 basis points sequentially, reflecting higher investment income and accelerated amortization from PPP loan forgiveness. On Slide 30, we've added new disclosure on the impact of the PPP program, showing its contribution to US Retail Bank net interest income and net interest margin. This quarter, PPP revenue contributed to about $ million to NII and 16 basis points to NIM. While the exact timing of loan forgiveness is difficult to predict, we expect most of this benefit to have faded by the second quarter of next year.

Total PCL was a recovery of $62 million higher by $12 million sequentially reflecting a smaller recovery in performing PCL. The US Retail net PCL ratio, including only the Bank's share of PCL for the US strategic cards portfolio was an annualized percentage of credit volume was minus % higher by 3 basis points sequentially.

Expenses increased 3% year-over-year, primary reflecting higher incentive-based compensation and higher investment in the business, partially offset by productivity savings. The contribution from TDs investment in Schwab was $ million compared to a contribution of $ million from TD Ameritrade a year ago.

Please turn to Slide Wholesale net income for the quarter was CAD million, a rockland ford lease of 14% compared to a very strong quarter -- fourth quarter last year, reflecting lower revenue and higher non-interest expenses partially offset by lower PCL. Revenue was CAD billion down 8% year-over-year. At CAD million, trading-related revenue was down 33% from the elevated levels seen in Q4 Partially offsetting this lending revenue, advisory fees and equity lending -- equity underwriting all increased year-over-year.

PCL for the quarter was a recovery of CAD77 million lower sequentially on recoveries in impaired and performing PCL. Expenses increased 13% year-over-year, primarily reflecting high employee-related costs from continued investment in Wholesale Banks US dollar strategy of higher variable compensation.

Please turn to Slide The Corporate segment reported a net loss of CAD million in the quarter, compared with a reported net income of CAD2 billion in the fourth quarter last year. The year-over-year decrease was primarily attributable to the net gain on the sale of the Bank's investment in TD Ameritrade of CAD billion, or CAD billion aftertax, partially offset by lower net corporate expenses and higher contribution from other items. Adjusted net loss for the quarter was CAD65 million, compared with an adjusted net loss of CAD million in the fourth quarter last year.

Please turn to Slide The common equity Tier 1 ratio ended the quarter at %, up 74 basis points from Q3. We had strong organic capital generation this quarter, which added 49 basis points to CET1 capital. We gained another 13 basis points from a reduction in non-significant investments above the 10% threshold deduction, reflecting the combined impact of an increase in the threshold from CET1 capital growth and a decrease in net holdings of equity securities in Wholesale Banking.

Lower RWA net of FX and other items added further 12 basis points of capital, mainly attributable to lower credit risk RWA. Credit risk RWA declined CAD billion primarily due to improved asset quality in US commercial and auto loan. The leverage ratio was % this quarter, and the LCR ratio was %, both well above regulatory minimum.

I will now turn the call over to Ajai.

Ajai Bambawale -- Group Head and Chief Risk Officer

Okay. Well, thank you, Kelvin, and good afternoon, everyone. Please turn to Slide Gross impaired loan formations was stable quarter-over-quarter at 11 basis points, remaining at cyclically low levels.

Please turn to Slide Gross impaired loans decreased CAD million or 3 basis points quarter-over-quarter to a new cyclical low of 32 basis points. The decrease was across all segments and related to the ongoing impact of support programs, customer resilience and the economic recovery.

Please turn to Slide Recall that our presentation reports PCL ratios, both gross and net of the partners share of the US strategic card PCLs. We remind you that PCLs recorded in the Corporate segment are fully absorbed by our partners and do not impact the Bank's net income. The Bank recorded a PCL recovery of CAD million in the fourth quarter, reflecting a performing allowance release, partially offset by continued low impaired provisions.

Please turn to Slide The Bank's impaired PCL was CAD million, lower by CAD25 million quarter-over-quarter and reaching a new cyclical low. Performing PCL was a recovery of CAD million compared to a recovery of CAD million last quarter. The current quarter recovery reflects additional allowance releases across all segments. Forthe Bank's full-year PCL rate was a recovery of 3 basis points, compared to provisions of basis points inas credit performance has outperformed our initial expectations.

Please turn to Slide The allowance for credit losses decreased CAD million to CAD billion quarter-over-quarter, reflecting further improvement in credit conditions and the impact of foreign exchange.

Now, let me briefly summarize the year. Credit performance trended positively in as we progress through the pandemic, as evidenced by cyclically low gross impaired loan formations, gross impaired loans, and PCLs. I expect PCLs to be higher in increasing from unsustainably low levels this year as the benefit from support programs subside and credit conditions begin to normalize. However, credit results may vary by quarter and low PCL levels may persist in the near-term, benefiting from low impairments and the potential for further performing releases.

To conclude, TD remains well positioned, given we are adequately provisioned. We have a strong capital position and we have a business that is broadly diversified across products and geographies.

With that, operator, we are now ready to begin the Q&A session.

Questions and Answers:

Operator

Thank you. [Operator Instructions] And the first question is from Gabriel Dechaine from National Bank Financial. Please go ahead.

Gabriel Dechaine -- National Bank Financial -- Analyst

First question, lots of pressure. Okay. The PPP balances there that new disclosure, a CAD billion loss, not new disclosure, but CAD billion balance at period end, it fell about CAD4 billion from Q3 levels. Can you give me a sense of when do you expect that to fully run off? Is it going to be next quarter or you're going to take two? And would there be a commensurate or linear revenue impact as those are repaid?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

I assume -- you want me to take that, Bharat?

Bharat Masrani -- Group President and Chief Executive Officer

Yeah, yeah. Go ahead, Greg.

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Gabriel, how are you going? And thanks for the questions. Greg Braca and I would just say that, yeah, we continue to progress. And I'll remind you the kind of comments I made during Q3 was that we expected the majority of this PPP run off to really come to conclusion by the middle of It's playing out the way we thought. We did have a bit of further acceleration of forgiveness during the fourth quarter, and we had over CAD3 billion of loans forgiven during Q4 alone. With that said, we've got a little over CAD3 billion left of forgiveness. As we come into the start of fiscal, and we expect the majority of this is done by Q1 and Q2 of next year.

Gabriel Dechaine -- National Bank Financial -- Analyst

Okay. But like, kind of an even if it's spread out over two quarters, is that similar?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Correct. It depends -- a lot of this depends on the customers coming into us and making sure the documentation is prepared, we've got to obviously, coordinate all of this with the SBA, they've got to give us final sign off on it. So a lot of has changed. But all things being equal, I think you'd tend to see more of it gets done in Q1 or Q2, but by the end of the second quarter, we should probably be out of it.

Gabriel Dechaine -- National Bank Financial -- Analyst

Okay. And my -- thanks for that. My second question for Bharat. The dividend, pre-COVID, you reviewed it in Q1, for obvious reasons, you did it in Q4, glad to see that. Just wondering, what the future holds? Would you be evaluating the dividend in Q1 or, is this quarter, a sneak peek of that? And then if that's the case, we wouldn't see another dividend increase potentially, until Q1 of If you could clarify, please?

Bharat Masrani -- Group President and Chief Executive Officer

Hey, Gabe, nice to -- I can't see you, but good to hear your voice. And I hope everything is well with you. We look at our dividends on an ongoing basis as to what makes sense. It's tough to give you a particular timeline on that. But it was important this time around, given that the restrictions on dividends were lifted, that we do increase our dividend in line with what our expectations are. But it's not a bad assumption that we like to look at this on an annual basis and hopefully we get into that cycle. But that doesn't mean that we will not periodically look at it on a different cycle based on circumstance and the environment we might be in.

Gabriel Dechaine -- National Bank Financial -- Analyst

So, I don't know how to interpret that.

Bharat Masrani -- Group President and Chief Executive Officer

It's on P&L, you're asking me next quarter, I don't think so that will be my modeling.

Gabriel Dechaine -- National Bank Financial -- Analyst

Okay.

Bharat Masrani -- Group President and Chief Executive Officer

But, you know what, I can't precisely tell you, when do we look at our dividends? Generally, our cycle has been annual, and that has worked out reasonably well for us. But it will depend on the environment going forward, because we are looking at a lot of changes to the environment than what we had pre-pandemic.

Gabriel Dechaine -- National Bank Financial -- Analyst

Is it unlikely that we have to wait until ? Or is that thing

Bharat Masrani -- Group President and Chief Executive Officer

I can't tell you exactly, Gabe. It's hard to predict, the whole year out there. But our general practice is, as we look at this once a year, we like that, but it'll depend on the environment that we're in.

Gabriel Dechaine -- National Bank Financial -- Analyst

Well, thanks. And hope all is well with you as well.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you. All the best.

Operator

Thank you. The next question is from John Aiken from Barclays. Please go ahead. Your line is now open.

John Aiken -- Barclays -- Analyst

Good afternoon, Bharat. I understand your reticence about the medium-term EPS targets hitting it ingiven the success that Ajai has had in provisions in But would you be willing to make a commentary about pre-provision pre-tax earnings, whether or not, you think the medium-term target could be hit on that basis in ?

Bharat Masrani -- Group President and Chief Executive Officer

No doubt, as I said in my remarks, that we got good momentum, our business mix is terrific. Our businesses and the momentum we're seeing are suited for this type of a recovery. So we like that. So we enter the year with good confidence, but as I said in my remarks, there is a lot of uncertainty out there, lot of bumpiness, nobody had heard of this new variant as of a week ago. So things can change quite dramatically. But feel comfortable that with our business mix and the way we are positioned, the geography different, territories we are in and our footprint that we feel good to maintain our medium-term earnings growth target of 7% to 10%. But it's very hard to put a pin on one particular year, given all the uncertainties around it regarding provisions, regarding the variance, normalization of activity whenever that might happen or not happen. So, in all those respects, your guess will be as good as mine.

John Aiken -- Barclays -- Analyst

I think your guess is was better than mine, Bharat. Thanks. And I'll leave the capital question up to somebody else. Thank you.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you.

Operator

Thank you. The next question is from Doug Young from Desjardins Capital Markets. Please go ahead.

Doug Young -- Desjardins Capital Markets -- Analyst

Hi. Good afternoon. First question just on regulatory capital. Credit risk RWA is down about 8% year-over-year and it looks around -- looks like around half of this is driven by an improvement in quality improvement that looks like it added about 47 basis points to the CET1 ratio over the past year. And, I guess, the question is, are you purposely derisking, or what's driving this in particular?

Ajai Bambawale -- Group Head and Chief Risk Officer

Yeah. Well, thanks for the question. It's Ajai. So I'll respond. What I would say is, we're seeing improvement in credit quality pretty much across the Bank, all segments. We're seeing lower PDs. We're seeing an improvement in LGD, as well. And a good example of that is our US Auto business, where car prices and used car prices have been going up. On the non-retail side as well, again, all commercial businesses, we're seeing upgrades in ratings. So generally positive credit migration is occurring. But as Kelvin said, a big piece of this is the US and US auto is an important contributor. Hope that's helpful.

Doug Young -- Desjardins Capital Markets -- Analyst

Yeah. And, I guess, I'll just follow-up on that. Is this something that, as we look at -- is mix a big part of this, I guess, it's part of my question, too. And as you start to get a pick up in commercial lending, start to pick up in credit card revolvers, and we start to kind of see that mix shift start to drag down, like, I guess, it makes a big part of this as well.

Ajai Bambawale -- Group Head and Chief Risk Officer

Well, I'd say, mix is a factor, for example, if your growth is coming from, let's assume reso [Phonetic], which it is, you're cadence bank hours seeing as much our RWA against reso. But if your quality improvements and other asset classes which attract a higher RWAs, then yes. So I think mix is a factor, I think it will continue to be a factor, even going forward.

Doug Young -- Desjardins Capital Markets -- Analyst

Okay. And then, Bharat, I mean, you mentioned in your opening remarks, just using capital for inorganic td credit card 200 cash back, so I'm going to use that as a doorway to go in. But my question td credit card 200 cash back, are you still primarily interested in targets in the US East Coast and Florida? Or are you more willing to look outside of your current US footprint? And I asked the question, just because I'm getting asked that question,

Bharat Masrani -- Group President and Chief Executive Officer

Yeah, Doug, again, like with Gabe, nice to hear your voice and hope everything is well. Our approach to looking at inorganic opportunities, or acquisitions has not changed over the years. We've said that, we have our capital deployment framework that looks at what needs do we have, etc., etc. So, I won't repeat and bore you with that.

With respect to specific acquisitions, we've also been very clear that it has to make strategic sense, it has to make financial sense, it has to be within our risk appetite. And, of course, it has to be aligned with the TD culture. Those are very important criteria for the Bank. And so, yeah, of course, doing something within our footprint is terrific because it helps us financially and actually helps us become more of a scale player in certain markets where we are building scale, and it will just accelerate that. But we've not been shy in looking at opportunities and frankly, having done deals outside of our footprint as well, our Auto business that started with the acquisition of Chrysler Financial, with National business in the United States, credit card business, our partnership with Target in Nordstrom is national in nature. So, depends on the opportunities, but it has to meet our criteria. It's very important to us that it do may -- that it does make strategic sense and financial sense and risk and culture. So that's the best way I can sort of give you more insight as you know what our thought process is.

Doug Young -- Desjardins Capital Markets -- Analyst

I appreciate it. Thank you.

Bharat Masrani -- Group President and Chief Executive Officer

Thanks, Doug.

Operator

Thank you. The next question is from Ebrahim Poonawala from Bank of America. Please go ahead. Your line is now open.

Ebrahim Poonawala -- Bank of America -- Analyst

Good morning. I guess, Bharat, I take it from your last response that if something meets all your criteria and ended up, let's just say in California, that will still be fair game?

Bharat Masrani -- Group President and Chief Executive Officer

Yeah. As long as it makes sense to all the criteria I have laid out, then of course, we look at any transaction that comes our way or is on offer. And that's how we look at it and it's been our approach for a few years, and it has worked well for us.

Ebrahim Poonawala -- Bank of America -- Analyst

Makes sense. I guess, another question, at the end of October, you announced pretty meaningful executive changes. Just talk to us in terms of how we should read into that. I understand part of it was just bringing in the next-generation of talent into leadership roles. But as we think about execution, does it change anything in terms of the pace at which you move on things, or just strategic priorities, maybe tactically being a little bit different? I would love any perspective you can share.

Bharat Masrani -- Group President and Chief Executive Officer

Ebrahim, the great thing about TD is the strength of our bench. If you look at the executives that we have and that's a huge blessing and a huge advantage for the Bank. So, I'm so proud of the team, you saw, what they delivered for us -- all of consumercenter mysynchrony login stakeholders, including our shareholders last year, and frankly, over many years. So -- and I don't think you should view this as a change in strategy or approach at all. This is just arizona department of economic security child protective services advantage of the terrific talent we have in the Bank. And, of course, once in a while have retirements as well. So we got to work that into our thinking and make sure that as a Bank that we are well positioned for the great opportunities we have going forward.

Ebrahim Poonawala -- Bank of America -- Analyst

Got it. Thanks for taking my questions.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you.

Operator

Thank you. The next question is from Paul Holden from CIBC. Please go ahead.

Paul Holden -- CIBC Capital Markets -- Analyst

Thank you. Good afternoon. So first question relates to the commercial loan growth in the US and additional disclosure on PPP is appreciated. And it gives us an opportunity to back out the non-PPP loans, which were down again, quarter-over-quarter. And just wondering, what's the outlook there in the near-term. Now the PPP program is over, do we expect the non-PPP will start to recover?

Bharat Masrani -- Group President and Chief Executive Officer

Greg?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Thank you. And Paul, nice to hear from you and thanks for the question. Yeah. So we provided additional disclosure. So we thought it was important, but backing out PPP, what you generally see on the commercial side is, you're seeing the slowdown in loan growth and negative year-over-year loan growth, really mirror itself on the opposite side of the balance sheet with a tremendous growth in deposits. In the US, now similar to many of our peer banks, as they reported Q3, you're seeing a lot of pressure on commercial loan outstandings. And that really translates into what we see day in and day out of just very, very low record low utilization rates. We used to think utilization rates on the commercial book in the low 30% range was very low. And now we're in the high-teens. So it's just one indication that there's a lot of liquidity and with rates so low, you continue to see that long-term structures are being down in the capital markets, especially for larger commercial borrowers. But notwithstanding all of this, I would say that, the origination volume that the teams are processing are very strong, again, demand is back. It's just credit and credit facilities are getting retired quicker and with capital markets debt. We would expect to see this beginning to normalize in Q1 and Q2 based on everything that we can see in the market pipelines and activity that's going on.

Paul Holden -- CIBC Capital Markets -- Analyst

That is helpful. Thank you. And then, second question is with respect to capital, it feels like every quarter you surprise us with a positive update on CET1. When I look at that internal capital generation number of 49 basis points. I just wonder if there is a scenario where you'd be able to generate enough loan growth, enough RWA to actually consume all of that internal capital generation like, can you envision such a scenario or even under more robust loan growth, you expect you'll continue to accrete CET1?

Bharat Masrani -- Group President and Chief Executive Officer

Paul, this is Bharat. It's hard to put a specific number on what that would be. But, I mean, this is an indication of the earnings power of TD Bank Group. And that's how our business model is positioned. We do generate excess capital. And we can also absorb good loan growth. So, I'd only give you specific guidance as to how much of our capital will be used on what level of loan growth. But suffice it to say, as I've said many times before, our capital deployment framework, our priority number one is to support existing our strategies, whatever strategies, whatever plans we put in place, and that entails use of -- or increase in RWAs on an ongoing basis, because that's we're a growing franchise and we have lots of opportunities and to have the flexibility we do is a great advantage for the Bank.

Paul Holden -- CIBC Capital Markets -- Analyst

Understood. Okay. I'll leave it there. Thank you.

Operator

Thank you. The next question is from Meny Grauman from Scotiabank. Please go ahead.

Meny Grauman -- Scotiabank -- Analyst

Hi. Good afternoon. Just keeping on the capital theme, just wondering how aggressive you intend to be on the buyback? And can we see a scenario where you renew your buyback within the year that you use it all up and renew?

Bharat Masrani -- Group President and Chief Executive Officer

Meny, good to hear from you. In our case, I mean, this is -- it's terrific that we've announced this NCIB, the buyback, is one of the largest ones we've announced in recent history, at least that's my recollection. And the important thing to note for us, at least is that, when we announce we do execute, so we'll be busy doing that. And hard to give you specific scenarios in the future because that, particularly given the uncertain environment, it's hard to predict what's going to happen a year from now, six months from now or even a quarter from now. And hopefully and chase continental credit card customer service the sake of all of us, there's no more variants coming down the pike here because things can change quite dramatically. But it's hard to give you specific scenarios like that, but very happy that we've announced this buyback, because I think it is meaningful and our intention is to complete it.

Meny Grauman -- Scotiabank -- Analyst

Bharat, no doubt that the buyback is large historically, but when I look at the kind of capacity that you have, the kind of excess capital you have, it seems like you could do multiples of that buyback and still have a reasonably high capital ratio. So, I guess, maybe another way to think about it is like what capital ratio are you managing to? And why not be more aggressive on the buyback? What are the considerations that you have? How much of that is M&A-related?

Bharat Masrani -- Group President and Chief Executive Officer

Yeah. Again, I don't think I give you precise numbers that makes sense to try and predict and forecast these numbers. I think the fact that we can announce a buyback of this magnitude and still have the flexibility tells you the strength of TD and that's a good position to be in. So it's hard for me to give you precisely what numbers we are working through, what the scenario might be few quarters or a year or two down the road. So, I mean, time will tell, Meny.

Meny Grauman -- Scotiabank -- Analyst

Okay. Thank you.

Operator

Thank you. The next question is from Nigel D'Souza from Veritas Investment Research. Please go ahead.

Nigel D'Souza -- Veritas Investment Research -- Analyst

Thank you. Good afternoon. My first question was on your allowance levels. And when I look at allowances on performing loans, they're still fairly elevated as you noted, and I'm trying to understand, given the improvement in credit quality that you've cited excess liquidity for your clients and just the general low level of impairments and delinquencies, what's preventing higher releases of those allowances? And put another way, if I look at your forward-looking indicators, they've improved substantially over the last year or so, I'm independent financial jobs why that hasn't translated to higher releases of allowances on performing loans, what's offsetting that?

Ajai Bambawale -- Group Head and Chief Risk Officer

Yeah, it's Ajai. So let me respond, allowances really reflecting our view of the expected credit loss, and in determining that view, we certainly have taken into account all the uncertainty that still exists. And that uncertainty, as Bharat just said, you got existing variants, you got new variants, you got potential for inflation, it's actually already here, the ultimate economic trajectory is an unknown, and the post stimulus impact on customers is also going to play out in the coming quarters. So we feel we have the appropriate level of allowance. However, each quarter end, we're going to really look at it, we're going to look at the changing macro situation, we're going to look at the forward-looking uncertainty, and to the extent, there improvements, we certainly will consider releases in the future, but we're quite comfortable with where our allowances is right now.

Nigel D'Souza -- Veritas Investment Research -- Analyst

Okay. And just functionally, the improvement in FLIs has been offset by management overlay or a higher weighting to the downside scenario?

Ajai Bambawale -- Group Head and Chief Risk Officer

Well, we didn't make any change in our weightings quarter-over-quarter. I would say, the overlays over time have reduced, but they -- the overlays still exist. They've been reducing with time, but they still exist. And I would finally say overlays remain an important part of our allowance process.

Nigel D'Souza -- Veritas Investment Research -- Analyst

Okay. And if I could just quickly finish on a different question on your trading income. When I look at the Bank level, there's a loss there, and I know that's not what you want us to track in terms of Wholesale Banking trading revenue. But could you just fill us in on what's driving that loss on the Bank level, is that fair value losses related to securities held for trading?

Bharat Masrani -- Group President and Chief Executive Officer

Wondering about the Bank level, Kelvin?

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Yeah. So I think we should look at the trading-related income.

Bharat Masrani -- Group President and Chief Executive Officer

Yeah.

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Because if you look just trading line in itself, it does not include all of the hedges that you have that would come through in NII, for example, and that's what we'd actually do provide that information separately.

Nigel D'Souza -- Veritas Investment Research -- Analyst

Okay. Thanks for that color.

Operator

Thank you. The next question is from Lemar Persaud from Cormark Securities. Please go ahead.

Lemar Persaud -- Cormark Securities -- Analyst

Thanks. I just want to continue on the M&A and capital discussion. If there is something that makes sense from an M&A perspective, what CET1 ratio would the Bank be comfortable going down to finance a deal?

Bharat Masrani -- Group President and Chief Executive Officer

Again, that would depend on what kind of risks are we assuming, what is our view of what scenarios might be at play over the -- on the short- and medium-term. And that would guide us as to what level of capitals we need to have in the Bank. So, hard to exactly put a pin on what's the number. It would depend on circumstance at the time, and particularly if there was an M&A as to what actually are we pursuing and what kind of risks that we be assuming.

Lemar Persaud -- Cormark Securities -- Analyst

Okay, thanks. That's it for me.

Bharat Masrani -- Group President and Chief Executive Officer

Thanks, Lemar.

Lemar Persaud -- Cormark Securities -- Analyst

Thank you.

Operator

Thank you. The next question is from Sohrab Movahedi from BMO Capital Markets. Please go ahead.

Sohrab Movahedi -- BMO Capital Markets -- Analyst

Hey, thank you. Just a couple of maybe clarifying questions maybe for Greg. Greg, I'm sorry if I missed it, but when you were talking about the PPP loans, did you also mention what's the remaining unamortized fees on that?

Bharat Masrani -- Group President and Chief Executive Officer

Greg?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Thank you, Sohrab. Nice to hear from you, and I did not. But we would generally farmers state bank cedar rapids at the unamortizing fees, and again, some of this, it depends on how long these loans are outstanding, because if they don't gets forgiven, then they continue to amortize over the life, but we expect the vast majority of these to be forgiven in next couple of quarters. And it's probably about CAD million would be the rough estimate of unamortized fees for forgiveness left to go.

Sohrab Movahedi -- BMO Capital Markets -- Analyst

CAD million left to go. Okay, perfect. And then just Kelvin from your perspective, you've -- I think you drew our attention to Page 27, I think of the slide deck where you're talking about adjusting to get that kind of purer view of the pre-tax pre-provision, for example, earnings of the Bank, adjusting for the partners value and so on and so forth. Fair to say you're going to continue to give this slide indefinitely, in other words, when things normalize, so to speak, on credit and the mechanics with the partners share, like we'll be able to see this on an ongoing basis, you didn't just conveniently give this to us like over the last number of quarters and then you're going to take it away in the future when it may be a little bit more of a tailwind to the Bank, are you?

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Depends on how much you're willing to pay. But -- and so, we would continue to provide this slide as long as it is relevant. But you -- the thing about this slide is that, because the PCL related to the partnership is volatile, and when that's volatile creates the other offset on the expenses. And you could actually see this amount in the Corporate segment PCL, that's mostly where the volatility is. So even if the slide is not there, you could pick up these numbers and then we would provide all of the details in this. Now, the end note to this deck that you can pick up in our sub pack.

Sohrab Movahedi -- BMO Capital Markets -- Analyst

Okay. I think it would be good idea to continue to provide it for an extended period of time. Bharat, just, I guess, to come back at Lemar's question, I mean, in the past, I can think of historically, the Bank not being shy about, I'll call the transformative capital deployment may be going all the way back to the acquisition of Canada Trust and obviously, the Commerce Bank acquisition. Is it fair to say that if you find something that -- first of all, are you in pursuit of something transformative? And then secondarily, if you found something transformative, you think you will be able to do it with resources on hand or would you be inclined to also go to the shareholders?

Bharat Masrani -- Group President and Chief Executive Officer

No, Sohrab, I noted, I see the trend of all the questions here on capitals. First, I would say, that's a fantastic position for TD to be in. It gives us lots of flexibility in deploying our capital for organic and inorganic opportunities.

Regarding your question, listen, transformative or not transformative, we -- if it meets our criteria, we will certainly look at it very seriously and see whether it makes sense for us. And we have not been shy in acquiring entities that are sometimes pure capability, bills for the Bank. Layer 6 comes to mind, which was an AI company, nothing to do with banking at the time, which turned out to be a terrific acquisition for the Bank. So sometimes we can talk about transformative or not transformative, but our view is that, we would want to make sure that it's within our strategy, it makes sense for the Bank over the long-term, and it will create tremendous value for all of our stakeholders.

Now, your point about capital deployment at the moment, well, I will remind folks, when we did those transactions that you just talked about, we were not shy to go back to our shareholders and asking for money, because this -- those acquisitions made sense in their own right. It was not something like for some reason our excess capital was burning a hole in our pocket. And I think you should see that as a continuation at TD, that's how we look at any potential transaction.

Sohrab Movahedi -- BMO Capital Markets -- Analyst

I appreciate the color. Thank you.

Operator

Thank you. The next question is from Scott Chan from Canaccord Genuity. Please go ahead.

Scott Chan -- Canaccord Genuity -- Analyst

Good afternoon. Maybe going back to that Slide 26, Kelvin, on the yearly PTPP, with all the adjustments, you get to 3% in fiscal3% in And I know you don't have a crystal ball, but when we think about fiscalhow does expenses or target expenses, how should we think about that heading into ?

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Yeah. So we don't have necessarily a specific target for expense growth. The way we look at it is that, we need to deliver value for our shareholders in the medium- and long-term, and that means that we need to continue to invest in the business. And so, that means you have to prioritize what are important projects and then at the end of day is driving growth. And so, our goal is to drive positive operating leverage having revenue growing faster than expenses.

Scott Chan -- Canaccord Genuity -- Analyst

Okay. And Bharat, maybe just sneak in one more on capital and M&A. One of your competitors talked about expanding wealth management distribution capabilities, and I know in the past, you outbid two large Canadian independent. Is that something -- is that an area that just for you, are you looking at that piece of the segment, especially in this marketplace where it's been pretty hot?

Bharat Masrani -- Group President and Chief Executive Officer

But you're breaking up a bit there, Scott. I just -- but I think I got your question. Like I've said this before, anything in Canada in the financial services space, we would look at it very seriously, because there are not many opportunities that present themselves. And whenever they have, TD has been there, I think the Aeroplan business comes to mind over the recent past. And, I mean, wealth management as well, of course, Greystone comes to mind, and so, of course, we will look at it. So I think that's what you meant. But our view on M&A is not confined to one specific business within our portfolio and mix of businesses, it would be any part of the Bank.

Scott Chan -- Canaccord Genuity -- Analyst

Okay. Got it. Thank you very much.

Bharat Masrani -- Group President and Chief Executive Officer

Right.

Operator

Thank you. The next question is from Darko Mihelic from RBC Capital Markets. Please go ahead.

Darko Mihelic -- RBC Capital Markets -- Analyst

Hi, thank you. I think this first numbers questions for Kelvin, if you can just give us an idea of -- and this may not be too material, but I'm just curious about how much you guys sort of feel that insurance claims were below normal. I'm just trying to understand what kind of a headwind you might face if claims normalize?

Bharat Masrani -- Group President and Chief Executive Officer

Teri?

Teri Currie -- Group Head, Canadian Personal Banking

Sorry. Thanks, Bharat. It's Teri, so I'll take the question, Darko. So, clearly, sequentially, there were a number of factors that impacted claims going down, more favorable prior year development, we have lower CATs in Q4, better claims experience, decreasing the fair value of investments supporting claim liabilities, and then we did have some offsets to that. I think your question as you look forward, I mean, we would expect like there's a lot of moving parts as many of my colleagues have said, and I think there is a question around return to the office and commuting and when commuting actually returns to a more normalized level, so our expectation would be that in a normalizing environment, we would [Phonetic] see an increase in claims. I would also say that our cost of claims has been coming down and it's better than the pre-pandemic level, so if that sustains, I'd say that's a positive.

Darko Mihelic -- RBC Capital Markets -- Analyst

Okay. Thanks for that. But that -- OK, so I'll try and work with that. And, I guess, another question, just generally speaking, picking up on the theme of management change, is it fair to say that -- we think about the three units that have been affected if I'm including you guys here. And is it fair to say that, there's going to be a period here of sort of significant review and potentially restructuring charges in or something of that sort or do you think that's way off pace that line of thinking and we should really just not think about large changes in the year ahead?

Bharat Masrani -- Group President and Chief Executive Officer

Certainly, I'm not thinking about it, Darko. So, I'm certainly not thinking about it. We are very happy with the strategies we've deployed over many, many years and I expect that to continue. And so, you should not view as management changes meaning to fundamentally change the way this Bank is, absolutely not. So I'm not thinking about it, but like I'm reluctant to always say, OK, it's never going to happen or whatever, but I -- certainly, I'm not thinking about it the way you positioned it.

Darko Mihelic -- RBC Capital Markets -- Analyst

Okay. Great. Thank you very much.

Operator

Thank you. The next question is from Ebrahim Poonawala from Bank of America. Please go ahead.

Ebrahim Poonawala -- Bank of America -- Analyst

Hi. I guess, Kelvin, a follow-up question, just apologize if I missed it. With the Bank of Canada expected to move on rates, the US Fed probably moves in July, remind us in terms of the NII lift we should expect to see from what 25 basis points or basis points rate hike both in Canada and the US?

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Yeah. Hi, Ebrahim. The -- so the 25 basis point hike in the short rate would be about CAD million and that split about US-Canada.

Ebrahim Poonawala -- Bank of America -- Analyst

And is the 50% in Canada as immediate as it would be in the US or would it take time to flow into just given the duration of the asset side?

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

That would be immediate, because it's a short-term move, like a short rate move and that would have an immediate impact, yeah.

Ebrahim Poonawala -- Bank of America -- Analyst

Sure. All right. So CAD million. And another sort of smaller question, we saw Capital One come out yesterday end overdraft fees. Bharat, you've talked about this in the past, any updated views around overdraft fees, how you're thinking about that product in the US?

Bharat Masrani -- Group President and Chief Executive Officer

I'll pass it on to Greg. But just to

Ebrahim Poonawala -- Bank of America -- Analyst

Sure.

Bharat Masrani -- Group President and Chief Executive Officer

We review this, Ebrahim, on an ongoing basis as to what makes sense. We introduced this terrific product in the US, Greg had talked about it with TD Essential Banking and very happy with how that is attracting customers to the TD franchise in the US. So Greg, I don't know whether you want to add anything, but this is something that we -- all our offerings, we review it and to make sure we are competitive and meeting customer needs. I don't know, Greg, is there anything else you wanted to add?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

I think you've covered it really well, and Ebrahim, nice to hear from you as well and thanks for the question. I would say that, we rolled out the TD Essential product, which is a non-overdraft checking product for our consumers. And we rolled this out only in August, and we just had terrific take-up from this product already. In fact, roughly 10% of our new accounts are coming from this. And so, again, we look at how the product is positioned. In some cases, overdraft is a product that our customers want, they want to be able to utilize from time to time if it's needed, but certainly, we do look at how these things are structured, and we've made changes in the past and as the market moves, we would consider changes again in the future.

Ebrahim Poonawala -- Bank of America -- Analyst

Got it. And one last, if I could squeeze in. Bharat, can you comment on potential for any strategic deepening with the Schwab relationship? It's been a great asset for you. But I'm just wondering, is there anything on the lending side, etc., that you could be doing with Schwab or we shouldn't be thinking about that?

Bharat Masrani -- Group President and Chief Executive Officer

No. It's in a way, we have a terrific -- it's been, not only a great investment, but a great relationship. As you know, we have a long-term deposit agreement in our thinkorswim platform in Canada is supported by Schwab. So already it's a very good and a very productive relationship for TD and we like our position very well. We keep on looking at different things and want to make sure we do what makes sense for the clients we may have. So that's an ongoing review, and where appropriate, of course, we would offer where it made sense. So, hard to give you any more detail than that, but the existing relationship in itself is pretty sizable.

Ebrahim Poonawala -- Bank of America -- Analyst

Got it. Thank you again.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you.

Operator

Thank you. That is all the time we have for questions today. I will turn the meeting back over to Mr. Bharat Masrani for closing remarks.

Bharat Masrani -- Group President and Chief Executive Officer

Thank you. Thank you, operator, and thank you to all of you. I mean, great questions, great engagement. I know a lot of questions on capital, but I view that as a positive, given the flexibility it provides the Bank in making the right investments for the future. I'd also like to once again thank our 90, TD Bankers around the world for everything they delivered for all of our stakeholders, including our shareholders, customers, clients and communities both in Q4 and in fiscal

Before we wrap up, I wanted to take a moment to recognize two of our executives on today's call. I think couple of you already mentioned it. And as we recently announced, you would all know that Teri will be retiring from TD at the end of January of next year after an extraordinary year career. In addition, Greg will be assuming a new role as Vice Chair of our US Bank effective January 1. As this will be their last quarterly earnings calls for both Greg and Teri, I'd like to invite each of them to say a few words. Greg?

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Well, thank you, Bharat, very much. And I'll be brief in my comments, but it is kind of td credit card 200 cash back to believe that it's been already a little over five years since it was announced that I was taking over just the US business. And I really do want to thank, Bharat, you, yourself, the Boards, both the parent and the US Boards, and the entire senior executive team for your counsel, your guidance and collaboration, certainly, over the last five years and really over the 20 years I've been here with the organization. I'm really proud to see what's been accomplished and built in the US and particularly what we're investing in and the momentum we've built real-time in the US. And that momentum has really been accelerated throughout the pandemic, if it's hard to believe, and we believe we'll be coming out of this stronger than when we went into it two years ago.

Finally, I really do want to make sure my comments are closed off here by thanking my leadership team in the US, as well as the 25, colleagues we have at America's Most Convenient Bank that drives these outcomes day in and day out. I'm really so proud of what's been delivered particularly over the last two years real-time in this pandemic and the momentum we're building.

And finally, I would just say that Leo will make a terrific leader for the business in the US, and he and I have been working on the transition for the last month, and td credit card 200 cash back continue to work over it -- on it over the next month and months more to come. I look forward to the next role as Vice Chair, and in particular, being able to get out to spend more time with clients and thinking through, I mean, Bharat with you and Leo and the rest of the team. So, all the best and over to Teri.

Bharat Masrani -- Group President and Chief Executive Officer

Teri?

Teri Currie -- Group Head, Canadian Personal Banking

Thanks, Greg. I want to start by thanking Bharat for his support over the years, but particularly for his support while I was working through my decision to retire, and then the ask of the Bank for me to join the US Board, which will keep me connected which I'm really excited about. Everyone around the table knows I'm still an armchair HR person, and so some of your questions were around the set moves and the additions to the set. And I have to agree with what Bharat has said, it really is a tribute to the leadership bench at this Bank. And you will all benefit from the great people who -- these new moves, as well as the new people who've joined the senior executive team and seeing Kelvin today on the call, you've been able to witness that.

I'm delighted that Michael Rhodes is going to lead the Personal Bank in its next chapter. He's an amazing leader. He's a great partner. And I know he's going to build on the current momentum and ensure that we remain a unique and inclusive culture and a strong growth engine for the Bank. The hardest part about retiring is obviously leaving the people. So my senior executive team colleagues, but also just the amazing people in the Personal Bank and across the Bank. And I just feel immense pride on how all of you and all of them have stepped up for Canadians over the last 20 months and dealt with all the personal challenges at the same time as really focusing on the needs of our communities and our colleagues and our customers. And I think you, your challenge to us has made us better and your support for the Bank is incredible. And I hope you have a wonderful holiday season and that you're able to safely enjoy time with friends and family this year. Bharat, back to you.

Bharat Masrani -- Group President and Chief Executive Officer

Thanks. Thanks, Greg, and thanks, Teri. And no pressure on Michael and Leo based on what I just heard. We'll redo the plan for next year. Greg, all the best in your new role, and Teri, of course, congratulations once again on a fabulous career and your well-deserved retirement. I look forward to seeing you at the US Board starting in February. So that's terrific.

Thank you, everyone, for a great call, great engagement. As I said, stay safe and here's wishing you all the best for the holidays and the New Year, and we will see you in 90 days. Thank you.

Operator

[Operator Closing Remarks]

Duration: 73 minutes

Call participants:

Gillian Manning -- Head of Investor Relations

Bharat Masrani -- Group President and Chief Executive Officer

Kelvin Vi Luan Tran -- Senior Executive Vice President and Chief Financial Officer

Ajai Bambawale -- Group Head and Chief Risk Officer

Greg Braca -- Group Head, U.S. Retail and President and CEO, TD Bank, America's Most Convenient Bank

Teri Currie -- Group Head, Canadian Personal Banking

Gabriel Dechaine -- National Bank Financial -- Analyst

John Aiken -- Barclays -- Analyst

Doug Young -- Desjardins Capital Markets -- Analyst

Ebrahim Poonawala -- Bank of America -- Analyst

Paul Holden -- CIBC Capital Markets -- Analyst

Meny Grauman -- Scotiabank -- Analyst

Nigel D'Souza -- Veritas Investment Research -- Analyst

Lemar Persaud -- Cormark Securities -- Analyst

Sohrab Movahedi -- BMO Capital Markets -- Analyst

Scott Chan -- Canaccord Genuity -- Analyst

Darko Mihelic -- RBC Capital Markets -- Analyst

More TD analysis

All earnings call transcripts

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Fidelity® Rewards Visa Signature® Card

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TD Cash Back Visa Infinite Review

Image by Free-Photos from Pixabay

With a strong earn rate in three major spending categories and a flexible on-demand redemption policy, the TD Cash Back Visa Infinite ensures you can make the best use of cash back rewards as you need them. And, with perks like travel insurance and complimentary roadside assistance benefits, this card gives back a little bit more than other cards in the same category. 

TD Cash Back Visa Infinite*



Get more details about the TD Cash Back Visa Infinite*

7 things to know about the TD Cash Back Visa Infinite

This card offers strong earn key bank canastota ny hours in major spending categories

Like most cash back cards, the TD Cash Back Visa Infinite offers different earn rates in different categories. Gas, groceries and recurring edmonds and evans funeral home chesterton indiana (automatic monthly purchases like Netflix, phone bills and so on)—where the bulk of expenditures for many families lie—earn a substantial 3%. The 1% rate on all other purchases is solid too.

What does this mean in practical terms? A family using the TD Cash Back Visa Infinite to purchase a monthly average of $ in groceries, $ on gas and $ on recurring bills will get back around $ annually on those three categories alone. And that’s on top of the 1% back for all other purchases. Simply put, you could easily earn more in cash back than you’d pay for the annual fee.

Valuable welcome offer

New cardholders are welcomed with a noteworthy offer. Earn 6% cash back on all purchases for the first 3 months, up to a total spend of $2, Must apply by December 5, Quebec residents, please click here.

Complimentary roadside assistance

Cardholders are automatically enrolled as Deluxe members in the TD Auto Club, which entitles them to complimentary roadside assistance services. This coverage is 24/7 and designed for roadside emergencies like dead batteries, flat tires or breakdowns. As a Deluxe member, you’ll have access to a tow to the nearest service centre (up to kilometres), emergency transportation and even financial reimbursement for food, and rest expenses up to $ in case you’re stranded due to a vehicle-related issue. Similar assistance packages typically cost between $69 and $ on a stand-alone basis.

Anytime cash back reimbursement

Some cash back credit cards offer reimbursement on a fixed schedule—usually once per year—but with the TD Cash Back Visa Infinite, you can access your funds when you need them, with no time restrictions (though a minimum of $25 must be redeemed). 

Income requirements

The TD Cash Back Visa Infinite has a minimum annual income requirement of $60, (or $, for the household). If you don’t hit the requirement, consider other great cash back cards with lower or no income requirements, like the Tangerine Money-Back Credit Card or SimplyCash Preferred from American Express*.

Travel insurance benefits

Travel insurance is one of the most attractive perks a card can carry, saving cardholders the time, hassle and money of buying stand-alone coverage. With the TD Cash Back Visa Infinite, you’re protected up to $2 million for medical emergency insurance for trips of up to 10 days (if you or your spouse is aged 65 or older, you are covered for the first four days). And you’re covered for delayed or lost baggage costs. These aren’t the most comprehensive travel insurance benefits around, even when compared to other cash back cards. For a credit card that’s not a travel card, though, it’s not a bad offering.

The advantage of bundling accounts

Since this card is from TD, a big bank, it may be a good fit for those who want to keep all their accounts with a single institution—and there may well be benefits to doing so. For example, TD members with an All-Inclusive Chequing Account holding a minimum balance of $5, at all times can have the both the card’s $ annual fee along with everyday banking fees rebated each and every year. Note, though, if the balance in your All-Inclusive Chequing Account dips below $5, you’ll owe a $30 monthly account fee.


How much can you earn with the TD Cash Back Visa Infinite

The TD Cash Back Visa Infinite has some healthy earn rates. But what do the rewards look like in real-dollar terms? To give you an idea, we ran the numbers using an estimated monthly spend in each category. Your exact totals will depend on your actual spending habits. 

Bonus CategoriesMonthly SpendAnnual Rewards
Groceries (3%)$$
Recurring bills (3%)$$72
Gas irs customer service number for tax refund else (1%)$1,$

Based on this scenario, you’d earn $ in cash back every year—or, $ after deducting the annual fee. This cash back reward is on top of other valuable benefits, like the complimentary roadside assistance, which would normally cost $69 to $, and the included travel insurance. Not to mention, in your first year, you receive a rebate on the $ annual fee and can earn up to $ in bonus cash back.

Apply for the TD Cash Back Visa Infinite*


Are there any drawbacks to the TD Cash Back Visa Infinite?

While the TD Cash Back Visa Infinite offers strong earn rates in major spending categories, there are some competitive cash back card alternatives out there as well. Notably, the CIBC Dividend Visa Infinite offers 4% on gas and groceries. And the Scotiabank Momentum Visa Infinite offers 4% on groceries and recurring bills. Additionally, TD’s travel insurance benefits aren’t as comprehensive as they could be, though the roadside assistance does sweeten the deal. With a minimum annual income requirement of $60, (or $, for the household), the TD Cash Back Visa Infinite may be out of reach for some Canadian families. And, while it earns a strong 3% across the board on groceries, gas and recurring bills, there are some alternatives that earn more in certain categories. Depending on your spending habits, you might want to consider these alternatives.

TD Cash Back Visa Infinite Alternatives

Scotia Momentum Visa InfiniteCIBC Dividend Visa InfiniteSimplyCash Preferred from American Express
Groceries4%4%2%
Gas2%4%2%
Recurring bills4%1%2%
Public transit2%1%2%
Everything else1%1%2%
New mobile device coverageYesNoNo

Scotia Momentum Visa Infinite*

The Scotia Momentum Visa Infinite gets you 4% back on groceries and recurring bills, and 2% on public transit. However, it does lag behind the TD CashBack Visa Infinite on one category that’s a big credit card purchase for many: gas. You get only 2% back, and it doesn’t include the complimentary roadside assistance benefits instead offering new mobile device insurance. Also, this Scotia credit card only lets you redeem your cash back once per year, while TD lets you redeem any time of the year. 

CIBC Dividend Visa Infinite

The CIBC Dividend earns 4% on groceries and bills, beating out the TD Cash Back Visa Infinite in two key categories. That said, this credit card earns no bonus rewards for recurring payments (1%), which makes a big difference when factoring using the card to pay for monthly bills like cable and smartphone plans. Plus, it also lacks the roadside assistance coverage, a valuable feature of the TD Cash Back Visa Infinite.  

SimplyCash Preferred from American Express*

The SimplyCash Preferred from American Express carries a lower annual fee ($99) than the TD card ($). And it gives you a flat rate of 2% cash back on everything else you buy using this card. Depending on your spending habits, the flat-rate structure may work better than higher rates in select categories. Note, though, that as an American Express card, it isn’t as widely accepted as a Visa, and travel insurance to usa from philippines cash back is redeemed only once per calendar year.

Bottom line

The TD Cash Back Visa Infinite is a super-strong contender in the cash back category, especially for families with one or more car commuters.

Apply for the TD Cash Back Visa Infinite*

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What does the * mean?

If a link has an asterisk (*) at the end of it, that means it's an affiliate link and can sometimes result in a payment to MoneySense (owned by Ratehub Inc.) which helps our website stay free to our users. It's important to note that our editorial content will never be impacted by these links. We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. For more details read our MoneySense Monetization policy.

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At Experian, one of our priorities is consumer credit and finance education. This post may contain links and references to one or more of our partners, but we provide an objective view to help you make the best decisions. For more information, see our Editorial Policy.

A cash back credit card is a type of rewards card that you can use to earn cash on purchases. A cash back card can be a little easier to use than travel rewards cards because the value of your rewards is clear. However, cash back cards can still differ in important ways depending on the rewards program and specific card. Here's what you need to know about how cash back cards work.

What Is a Cash Back Credit Card?

Most rewards cards fall into one of two categories: travel rewards cards and cash back rewards cards.

With a cash back card, it's easy to understand how much you'll earn on each purchase. For example, if your cash back card offers 2% cash back on purchases, you'll get $2 in rewards for every $ you spend. (In contrast, the value of travel programs' points and miles can vary greatly depending on the loyalty program and current cost of travel.)

All cash back credit cards let you redeem your rewards for cash, often via a check, statement credit or bank transfer. Some travel cards do as well, but you might receive less value if you choose cash back redemptions instead of using the rewards on travel.

How to Earn Cash Back Rewards With Your Credit Card

Cash back rewards cards can be further distinguished by the card's rewards system.

Flat Rate Cards

With a flat rate cash back card, you earn the same amount of cash back on every purchase—often, % or 2%. In general, a card with a higher rewards rate will provide the most value. However, be sure to check whether the card has an annual fee or other fees that will offset the rewards you earn.

Flat rate cards can be a good fit for people who don't want to spend a lot of time managing a credit card rewards program. It's easy to compare flat rate cards to each other, and you'll know exactly how much you're earning on every purchase.

Bonus Categories or Tiered Rewards Cards

Some cash back cards offer different tiers of rewards depending on where you use the card.

These cards are sometimes distinguished by their bonus categories. For example, there are dining cards that give bonus cash back on take out and at restaurants, and gas cards with bonus cash back at gas stations.

Many cash back cards have several tiers, such as 2% cash back on dining and 3% on gas. There may also be a limit to the amount of bonus cash back you can earn each quarter or year. Generally, you can earn an unlimited 1% cash back on all non-bonus category purchases.

A tiered rewards card can be best when you tend to spend most of your money at particular types of retailers. They're also helpful if you have several rewards cards and can remember to pick the card that offers the most rewards on each purchase.

Rotating Rewards Cards

A rotating cash back rewards card is a west texas national bank kermit texas of tiered rewards card that has changing bonus categories. Generally, the categories change every three months.

These cards can be appealing because the limited-time bonus categories generally offer 5% cash back—a high rate. However, you're often limited to earning bonus rewards on up to a certain amount—usually $1, or $2,—in purchases each quarter. Also, with some cards, the issuer picks the categories.

A rotating rewards card could be a good addition to your wallet if you don't mind keeping track of the changing categories and potentially having to activate them to earn the bonus rewards. But it might not be as rewarding as a flat rate or tiered card if it's your only credit card.

How to Redeem Your Cash Back Rewards

You may be able to redeem your cash back rewards in several ways, including:

  • A check
  • A statement credit
  • Direct deposit into your bank account
  • Gift cards

Some cards offer other options as well, such as letting you use your cash back rewards to book travel, donate to charity or make purchases online. Some cash back cards actually give you points in the issuer's rewards program, which can open up additional options as well.

Cash back cards may have minimum balance requirements for redeeming your cash rewards. For example, with some American Express cards, you need at least $25 in rewards.

What Credit Score Do You Need for a Cash Back Credit Card?

Many cash back cards require at least fair to good credit, and some of the best options may require a very good or excellent score. These cards may offer large intro bonuses, high cash back rewards rates and additional cardholder perks.

There are options for people with poor credit, including secured cards that offer cash back rewards. But they may have higher fees, lower rewards rates and fewer cardholder benefits.

Best Cash Back Credit Cards

The best cash back card can depend on which cards you'll qualify for, how you plan on using the card and where you tend to spend the most money. Here are some top picks from our partners.

Best Tiered Rewards Card

The best tiered rewards card will depend on where you shop, as you want to align the top tier with your most frequent or expensive purchases. If you tend to spend a lot on dining and entertainment, and don't want to pay an annual fee, the Capital One SavorOne Cash Rewards Credit Card could be a good option. Using the card, you can earn:

  • 3% cash back on dining
  • 3% cash back on entertainment
  • 3% cash back on groceries excluding superstores like Walmart and Target
  • 8% cash back on tickets at Vivid Seats through January
  • 3% cash back on streaming services
  • 1% cash back on all other purchases

You can earn an intro one-time $ cash bonus if you spend $ on purchases within 3 months of opening your account. The card also doesn't have a foreign transaction fee, and there's an introductory month 0% APR offer on purchases. After the intro period ends, the standard variable % to % purchase APR applies.

APR

% - % (Variable)

Intro APR

0% on Purchases and Balance Transfers for 15 months

Rewards

3% cash back on Dining & Entertainment

3% cash back on Groceries

3% cash back on Streaming Services

1% cash back on All Other Purchases

Intro Bonus

Earn a one-time $ cash bonus after you spend $ on purchases within the first 3 months from account opening

Card Details
  • Earn a one-time $ cash bonus after you spend $ on purchases within the first 3 months from account opening
  • Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases and balance transfers for 15 months; % - % variable APR after that
  • No foreign transaction fee
  • No annual fee

Best Rotating Rewards Card

The Chase Freedom Flex℠ is one of the top rotating rewards cards, as it offers bonus cash back on rotating categories and tiered rewards for travel and dining purchases. You can earn:

  • 5% cash back on up to $1, in combined purchases within rotating categories
  • 5% cash back on travel purchase through Chase Ultimate Rewards
  • 5% cash back on Lyft rides through March
  • 3% cash back on dining and drugstores
  • 1% cash back on all other purchases

There's also no annual fee, and cardholders earn cash back rewards as Chase Ultimate Rewards points, which offer a variety of redemption options. However, you have to sign up for the bonus category each quarter (you can quickly do this online or in the Chase app) to remain eligible.

New cardholders can also get a $ intro cash back bonus after making $ worth of purchases within 3 months of opening their account.

APR

% - % Variable

Intro APR

0% Intro APR on Purchases for 15 months

Rewards

5% cash back on Rotating Categories

5% cash back on Travel

3% cash back on Dining

1% cash back on All Other Purchases

Intro Bonus

Earn a $ Bonus after you spend $ on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12, spent in the first year.

Card Details
  • Earn a $ Bonus after you spend $ on purchases in your first 3 months from account opening.
  • 5% cash back merrick login grocery store purchases (not including Target® or Walmart® purchases) on up to $12, spent in the first year.
  • 5% cash back on up to $1, in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
  • 3% cash back on dining at restaurants, including takeout and eligible delivery services
  • 3% cash back on drugstore purchases
  • 5% cash back on travel purchased through Chase Ultimate Rewards®, and 1% on all other purchases.
  • 0% Intro APR for 15 months from account opening on purchases, then a variable APR of % - %.
  • No annual fee.

How to Maximize Cash Back Rewards

You can take a few steps to maximize the cash back rewards you'll earn.

  • Choose the right card. Review your average spending and consider how much time you want to spend managing your card, then get a cash back card to match. Occasionally reevaluate your choice if your creditworthiness improves and you can qualify for more cards.
  • Remember your cards' bonus categories. If you have a tiered or rotating rewards card, keep track of which card you want to use for each purchase. Having a note on your phone or stickers on the cards with their bonus categories can help.
  • Sign up for extra earning opportunities. You may be eligible for limited-time offers to earn bonus cash back. For example, look for Amex Offers on American Express cards that can give you statement credits for specific purchases.
  • Review the terms. Read over the credit card agreement to find out what doesn't count as an eligible purchase. For instance, you might not earn each back if you use your credit card to buy gift cards or lottery tickets.

If you can choose between cash back and non-cash redemption options, review the options closely to see which one will give you the best value.

Get Matched With Cash Back Cards

If you're unsure of which cash back card to get, you could start by getting matched with cards through Experian CreditMatch&#x. After logging in, you can get personalized offers based on your credit profile and the features you're looking for in a card. You can also choose several cards to create a side-by-side comparison.

Источник: mynewextsetup.us

TD Cash Credit Card $ Cash Back Bonus

TD Cash Credit CardWhen you sign up for the TD Cash Credit Card, you&#;ll have the opportunity to earn $ Cash Back when you spend $ within 90 days after account opening. Learn more below on how to earn you TD Cash Credit Card Bonus.

Editor&#;s Note: This card is only available to those in the following areas: Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia, Washington, D.C.

Be sure to check out more banking promotions from TD Bank.

Table of Contents

TD Cash Credit Card Bonus Summary

TD Cash Credit Card Bonus

The TD Cash Credit Card Card offers $ Cash Back when you spend $ within 90 days after account opening.

You'll earn 3% cash back on dining, 2% cash back at grocery stores, & 1% cash back on all other eligible purchases.

This card comes with no annual fee and no foreign transaction fees.

Bonus Requirements

For this offer, you will need to spend $ within 90 days of account opening. As a result, you&#;ll earn a $ cash back bonus.

Author&#;s Verdict

This card is designed for people who want to earn money back on everyday purchases for things like: going out to eat, grabbing a quick cup of coffee, or for every day purchases.  The rewards program is straight forward and simple. You don&#;t have to worry about keeping tabs on special spending categories to earn cash rewards.

Overall, this is a great credit card to consider since the spend requirement is pretty low and very doable.

Provide feedback in the comment section below by telling us your thoughts and experience with this card from TD Bank. Make sure to visit BankDealGuy for more credit card bonuses.

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Disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Filed under: Credit Card Bonuses

About Anthony Nguyen

Anthony Nguyen, founder of mynewextsetup.us, has a passion for finding the best bank deals and bank rates. With over 10 years of experience, he is dedicated to bring you the latest bank promotions! Contact Anthony for media/advertising.

Источник: mynewextsetup.us

Comments

  1. DMTGodd exactly! My credit score is 736 . I pay it before the date due 💁🏽‍♀️ I just have 2 years with it

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