Was just browsing around TD's website and found that they launched a new Visa card to replace the old GM card.
Official link: http://www.tdcanadatrust.com/tdvisa/drivers_rewards.jsp
Annual fee: 0
Earn:
- 1 TD Drivers Rewards Point on every $1 in purchases made to the Card
- 2 TD Drivers Rewards Points for every $1 spent on gas, on the first $700 per statement period
- 1.25 TD Drivers Rewards Points on every $1 spent on automotive parts or services
Redeem:
redeem in increments of 2,500 points ($25 value)
- redeem toward the purchase or lease of any new or used vehicle
- redeem for automotive parts or service purchases made with your Card, such as windshield wipers, tires, spark plugs, car mats, GPS system, car radio, seat covers and more - they are identified by the MCC code of the merchant.
That's the first time the big 5 bank offers something free with 1%+ return, which in my mind is pretty decent, especially considering that some of the Canadian Tire stores carry grocery now. Buy food there and they are still considered "automotive parts or services". Pay for them with points. Easy as that.
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