TD Bank has revamped its credit card line up and added two new credit cards. The new cards are as follows:
- TD Clear
- TD FlexPay
TD Clear
This is a credit card and rather than charging interest rates, charges a monthly fee.
- $10 monthly fee for a $1,000 credit limit
- $20 monthly fee for a $2,000 credit limit
This seems to be extremely expensive, representing a 12% APR and that is if you have the card maxed out at all times.
TD FlexPay
This card gives cardholders the ability to skip a payment once a year (you still accrue interest).
Enhanced Rewards
In addition TD has made changes to the following cards:
- TD Double Up. Cardholders earn 2% back on all purchases (previously needed to deposit rewards into TD bank account)
- TD Cash. You can now choose your 3% and 2% categories
Our Verdict
Both of these products are terrible. TD Clear is borderline predatory with a minimum $120 annual charge for a card with only a $1,000 credit limit.
