Program guide · Index updated 2026-07-01
TD Rewards points value: the math behind the six-figure bonuses.
TD Rewards points are worth 0.5¢ eachon travel — a fixed 200 points per dollar through Expedia for TD. It's the smallest point denomination among the big banks, which is exactly why TD's welcome offers carry the biggest numbers. Here's the honest conversion.
TD Rewards points calculator
Enter your balance to see its fixed travel value. TD Rewards has no chart and no transfer partners — the portal rate is the whole story.
Easy floor · 0.5¢/pt
$500
Fixed 200 points = $1 via Expedia for TD
Standard value · 0.5¢/pt
$500
Same rate — the portal never moves
Strong redemption · 0.5¢/pt
$500
No transfer partners, so no upside
Values use The Points Standard Index. Editorial estimates based on observable award pricing — not guarantees.
Value by redemption type
TD Rewards is a portal currency: the best rate requires booking travel through Expedia for TD. The “Book Any Way” option — redeeming against travel charged from any merchant — trades convenience for a worse 250-points-per-dollar rate. Everything else pays less again.
| Redemption | Realistic value per point |
|---|---|
| Travel via Expedia for TD (200 points = $1) | 0.50¢ |
| Book Any Way travel credit (other travel purchases) | 0.40¢ |
| Amazon.ca, gift cards, and cash-style redemptions | Below the travel rate — check per item |
The strategic consequence: divide every TD Rewards number by four before comparing it to an Aeroplan offer, and by two before comparing it to most bank currencies. A “146,000-point” TD offer and a 35,000-point Aeroplan offer are worth roughly the same in dollars. Our card pages do this conversion for you — every bonus on this site is shown in estimated CAD on the same index.
How much are 20,000 to 200,000 points worth?
| Points balance | Travel value at 0.5¢ (200 points = $1) |
|---|---|
| 20,000 | $100 |
| 50,000 | $250 |
| 100,000 | $500 |
| 146,000 | $730 |
| 200,000 | $1,000 |
The cards to consider instead — or alongside
Our review of TD's flagship TD Rewards earner, the First Class Travel Visa Infinite, is in the verification pipeline and will publish once we've confirmed the current offer against TD's terms. In the meantime, two published cards frame the decision: TD's own Aeroplan Visa Infinite earns a currency worth roughly four times more per point, and the Amex Cobalt is the benchmark for flexible-points earning.
TD's stronger travel currency
TD Aeroplan Visa Infinite
The default Aeroplan card for most Canadians. Not a big earner, but the checked-bag benefit and redemption perks make it an easy hold for AC loyalists.
$139 annual fee · First-year net value ≈ $880
The flexible-points benchmark
Amex Cobalt Card
The strongest everyday earner in Canada for food spend. If you can work around Amex acceptance, the Cobalt out-earns nearly every premium card at a fraction of the fee.
$191.88 annual fee · First-year net value ≈ $714
Frequently asked questions
How much are TD Rewards points worth?
TD Rewards points are worth 0.5 cents each when redeemed for travel booked through Expedia for TD — a fixed 200 points per dollar (CAD, 2026-07-01 index). Travel purchased elsewhere and redeemed against your statement ("Book Any Way") converts at 250 points per dollar, or 0.4 cents, and non-travel redemptions generally pay less again.
How much are 146,000 TD Rewards points worth?
About $730 toward travel via Expedia for TD. That's the honest read on TD's headline welcome offers: 146,000 points sounds enormous, but at 200 points per dollar it converts to roughly $730 — comparable to mid-tier offers from programs with far smaller point counts.
Do TD Rewards points transfer to airlines?
No. TD Rewards has no airline or hotel transfer partners and no award chart — points redeem at fixed rates, primarily through the Expedia for TD portal. If you want transferable points from a TD-issued card, TD's Aeroplan cards earn Aeroplan directly, a currency worth roughly four times more per point.
Is TD Rewards the same as TD Aeroplan?
No — TD issues cards in two different programs. TD Rewards (First Class Travel and similar cards) is the fixed-rate portal currency covered here. TD Aeroplan cards earn Aeroplan points, Air Canada's program, with a completely different value profile. If you fly and redeem for flights, the Aeroplan side of TD's lineup is usually the stronger play.
Valuations are editorial estimates based on observable award pricing, refreshed monthly. See The Points Standard Index for every program we track, our Aeroplan points value guidefor TD's other card currency, and our methodology for how valuations feed card scores.