I'm not familiar with the TD card, but I have recently switched to the RB Avion. But before proceeding any further, let's put this "no blackouts" thing to bed. It's true there are no blackouts or capacity controls if you use Avion points for an Avion ticket, but you'd have to be insane to do that -- it is stunningly bad value. In fact it's the same deal as "Air Miles."

That is you essentially redeem points for cash, which the bank then uses to buy an ultra-restricted economy ticket on the cheapest airline they can find. You pick the days, and they pick everything else, including the seat. There's essentially no way to go in anythng other than econo class.

For example, 100,000 Avion points will get you an econo "long-haul" international flight. But you must book it at least 21 days in advance, and the ticket must have a maximium value of $2000. Furthermore, you rare responsible for all fees and taxes, and because the ticket is not "free" in the way an Aeroplan ticket would be, you end up paying all the taxes (i.e. GST, if applicable) on the entire fare. A HUGELY bad deal.

BUT, with Avion, instead of using the points for an Avion ticket, you can instead transfer points to either AA or BA at a 1:1 ratio. That is, 100,000 Avion points can become 100,000 BA miles, which will get you a BA First ticket from North America to pretty much anywhere in Europe. This is a true First Class award ticket, and can be changed or cancelled, with possibly a few minor fees for cancelling and redepositing points. It is possible that the value of this ticket could exceed USD $10,000.

Beyond the points and awards, I'm impressed with the benefits of the RB Gold Avion Visa card. I just received the welcome package, even though the expedited me a card in December so I could get credit for my Christmas vacation expenses. A couple of things that popped out were a free card registry service (that most other cards, including Amex, charge ~$25 for) and car rental coverage that exceeds either Diner's Club or American Express Platinum. It covers almost any car (except limited production vehicles) and there is a "zero deductible" on CDW. There's even a section on how to deal with problem car rental agencies that insist you must purchase their CDW, and a list of a few countries where the local law requires purchasing CDW from the rental agent.

Thumbs up from me, on a card that originally seemed to be a joke, but is proving to be a contender.