Images by GettyImages; Illustration by Hunter Newton/Bankrate
Key takeaways
- The Clear Platinum Visa Credit Card with $1,000 Credit Limit and The Clear Platinum Visa Credit Card with $2,000 Credit Limit both waive interest fees in place of a monthly membership fee.
- Both TD Bank Clear cards come with limited perks, but neither earns rewards nor comes with a welcome bonus.
- Some other TD Bank credit cards come with an introductory APR offer on balance transfers while also earning rewards.
- Choosing the best TD Bank credit card for you depends on your specific financial wants and needs.
Over the past several years, many banks have been expanding their credit cards options to include more features than ever before. This can take the form of more travel perks, lower interest rates, better shopping protections and more. They have also been striving to make the banking process more convenient with online banking and improved 24/7 customer service.
Among those is TD Bank, which has self-proclaimed itself “America’s Most Convenient Bank.” TD Bank credit cards offer unique financial features for customers who want to minimize the impact of debt or step away from more popular banks.
What is TD Bank?
An extension of Canada’s TD Bank Group, TD Bank is one of the largest banks in the U.S. It stands out among its competitors due to it being open on Sundays, having a large branch network and its great customer service. It’s also notably helpful towards seniors and students, waiving membership fees on certain accounts (terms may apply). It’s a good bank option, especially for those living on the East Coast.
Top TD Bank credit cards
Some of TD Bank’s top credit cards include the TD Clear Platinum Visa Credit Card with $2,000 Credit Limit, the TD Clear Platinum Visa Credit Card with $1,000 Credit Limit, the TD FlexPay Credit Card, the TD Double Up Credit Card and the TD Cash Credit Card. Here’s an overview of the features and key benefits of each:
Pros and cons of TD Bank credit cards
Pros
- Access to many digital banking features, such as Zelle and online bill pay
- Cards come with Visa benefits that add long-term value
Cons
- Some cards lack rewards, which cuts into their overall value
- Subscription-based cards come with perks and no interest but monthly fees stack up over time
How to apply for TD Bank credit cards
Applying for TD Bank credit cards is similar to applying for other credit cards. You can apply in-person at a TD Bank branch or online for the card you want. You can also apply by phone.
When applying, you’ll need to have your personal information ready — including your name, address, Social Security number and annual income. It may take up to two business days to find out if you’ve been approved.
Are TD Bank’s credit cards worth it?
For those who tend to carry a balance or have existing debt they’d like to pay off, TD Bank credit cards can be a good fit. For the TD Bank Clear cards, swapping a high interest rate for a monthly fee can potentially save you quite a bit. If you want a more traditional card, the FlexPay, Double Up or TD Cash cards include an introductory APR offer on balance transfers.
That being said, the monthly fee on the TD Bank Clear cards adds up to either $120 or $240 per year — plus, these cards lack the rewards or perks found on most cards with an annual fee around this price point. If you’re someone who tends to pay your balance off every month, you may want to check out other rewards credit cards, instead.
The bottom line
TD Banks’s Clear Platinum Visa cards come with a unique no-interest twist. However, if you don’t carry a balance, the monthly fee could end up costing you more over the long run. Additionally, the cards fail to offer rewards and are much lighter on benefits than other cards that charge similar annual fees.
If you are interested in earning rewards or enjoying an introductory balance transfer offer, consider one of TD Banks other cards, instead. You should also check out our list of the best 0 percent APR cards before making a decision.
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