I have a TD select services account plus a TD First Class Infinite Visa and a TD US $ credit cards. Unless I am wrong, it does not seem advantageous to use the US $ credit card for US transactions.
Using a $100 transaction as an exemple, here is what I understand will happen whether I use one card or the other:
US $ card: $100 purchase + $1.60 fee to convert cdn $ to US $ = $101.60 cdn net cost.
Note: I checked the conversion rate from $ cdn to US $ for my Select Services account and it seems TD charges spot + 1.6%
Cdn $ card:$100 purchase + $2.50 transaction fee (2.5%) + $0.20 fee to convert cdn $ to US $ - $1.50 value of TD Rewards points = $101.20 cdn net cost.
Note: For US $ transactions I understand that on top of the 2.5% transaction fee, TD charges spot + 0.2% for conversion.
It does seem slightly less expensive to use my cdn $ card
Is there something I am missing?
Using a $100 transaction as an exemple, here is what I understand will happen whether I use one card or the other:
US $ card: $100 purchase + $1.60 fee to convert cdn $ to US $ = $101.60 cdn net cost.
Note: I checked the conversion rate from $ cdn to US $ for my Select Services account and it seems TD charges spot + 1.6%
Cdn $ card:$100 purchase + $2.50 transaction fee (2.5%) + $0.20 fee to convert cdn $ to US $ - $1.50 value of TD Rewards points = $101.20 cdn net cost.
Note: For US $ transactions I understand that on top of the 2.5% transaction fee, TD charges spot + 0.2% for conversion.
It does seem slightly less expensive to use my cdn $ card
Is there something I am missing?