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.
TD must have realized that if a card like Zurp can exist they should also put their hands in those people’s pockets
I can’t believe that people actually sign up for the TD Clear card. But I guess it has its audience (but clearly not people who frequent this site). What bothers me is getting constant emails (and I think snail mail, I send it to the shredder) from them pushing the card. Do they actually think that I’d be interested in this card? Granted, I only have $300 in my checking account with them.
Are the annual fees at least comparable to a secured card?
Does TD Business Solutions still show on your personal reports?
Would really appreciate a DP!
these might be the worst CC’s I’ve ever read about
Are Canadians STUPID?
No u
Eh. Or should that be Eh?
Funny how I just got the TD cash credit card a few hours ago for the easy $150 lol.
Payday loans now offered by TD, your next door usurious bank.
Let’s be fair here: TD has made some strong improvements to its existing cards. The Double Up no longer requires a TD Bank account and is now a straight 2% cash back card, making it a worthy rival to the Citi Double Cash and Wells Fargo Active Cash. The TD Cash card now allows its users to choose among five major categories (Dining, Entertainment, Gas, Grocery, and Travel) and get 3% cash back on one and 2% on a second; users can switch quarterly. While it won’t be a game changer for those of us with multiple Cit Custom Cashes and BoA Customized Cash Rewards cards, this card would be a solid option for a number of people.
The Cash card still has the $25 redemption limit.
It sits unused for me because of that.
TDCash is still useless because someone could get Wells Fargo Autograph + Capital One SavorOne to cover all 5 of the categories (and beyond). A card offering 3% in a single category is awful these days.
Double Cash does equal the Active Cash, at least.
Can I use this card to put a down payment on the Timeshare I’m about to buy?
Here at Dewey, Cheatam, and Howe Dreamshares, we only accept wire transfers, for your protection.
Let’s just hope other CC companies don’t follow this stupidity…