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TD Bank Credit Cards Review

TD Bank Credit Cards Review

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This article was last updated Feb 24, 2020. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

TD Bank offers four credit cards — a cashback card with a competitive rate on dining and grocery store purchases, a travel card, a business rewards card and a secured card that can help you build credit or rebuild from bad credit.

We’ll take a look at each one, as well as two alternatives in case you decide a TD Bank credit card isn’t right for your wallet.

Earn cash back with the TD Cash℠ Credit Card

If you’re looking for a card with a $0 annual fee and a solid cashback rate on dining out, the TD Cash℠ Credit Card is worth a look, plus there is a solid 0% intro APR promotion. There are cards that offer higher rewards rates on dining purchases, but they’re likely to charge an annual fee.

Rewards: Cardholders earn 3% cash back on dining, 2% cash back at grocery stores and 1% cash back on all other eligible purchases.

Sign-up bonus: You can earn $150 cash back when you spend $500 in the first 90 days.

Intro APR: For purchases,0% introductory apr for the first 15 billing cycles. After, an APR of 14.49%, 19.49% or 24.49% variable applies. For balance transfers, 0% Introductory APR for the first 15 billing cycles. After, an APR of 14.49%, 19.49% or 24.49% variable applies.

Fees:

  • Annual fee: $0
  • Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater (Minimum Balance Transfer amount of $250).
  • Foreign transaction fee: None.

Earn travel rewards with the TD First Class℠ Visa Signature® Credit Card

This card offers strong rewards on dining and travel, with travel including flights, hotels, car rentals, and cruises. It earns rewards called “First Class miles,” which can be redeemed for cash back, travel, gift cards and merchandise. Each mile is worth 1 cent when redeemed the first three ways. When redeemed for merchandise, the value will vary. There’s a minimum redemption amount of 2,500 miles (or $25 when converted to cash back).

Rewards: Earn 3X First Class miles on travel and dining purchases, 1X First Class miles on all other purchases.

Sign-up bonus: You can earn up to 25,000 bonus miles when you spend $3,000 in your first 6 billing cycles.

Intro APR: No intro purchase APR. The regular purchase APR is 14.74% variable. There is a 0% Introductory APR for the first 12 billing cycles for balance transfers. After, an APR of 14.74% variable applies.

Fees:

  • Annual fee: $89 (waived for the first year).
  • Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
  • Foreign transaction fee: None.

Earn business rewards with the TD Business Solutions Credit Card

If you’re a small business owner, this cashback card can help you manage your cash flow and save some money on common business expenses. Note that while this card is advertised as a cashback card, it earns points, which you can then redeem for cash back, travel, gift cards or merchandise. Each point is worth 1 cent when redeemed for the first three options, while redemption value varies when points are used for merchandise. There’s a minimum redemption amount of $25 (or 2,500 points).

Rewards: Cardholders earn 3% cash back on phone, internet and cable services, 2% cash back on dining and at gas stations, 1% cash back on other eligible purchases.

Sign-up bonus: You can earn $300 cash back when you spend $3,000 in the first 90 days.

Intro APR: 0% introductory apr for the first 6 billing cycles on purchases. After, an APR of 14.49%, 19.49% or 24.49% variable applies. There’s no intro 0% APR for balance transfers.

Fees:

  • Annual fee: $0
  • Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
  • Foreign transaction fee: None.

Build credit with the TD Cash Secured Credit Card

This is a secured card, meaning you have to submit a security deposit to the bank for the amount of your credit limit. The minimum deposit for this card is $300.

What’s unusual about the TD Cash Secured Credit Card is that it earns cash back, which most secured cards do not. There’s an annual fee of $29 , but if you spend at least $967 a year on dining purchases eligible for 3% cash back, you can recoup the amount of the annual fee.

Rewards: Cardholders earn 3% cash back on dining purchases, 2% cash back at grocery stores, 1% cash back on other eligible purchases.

Sign-up bonus: There’s no sign-up bonus on this card.

Intro APR: This card doesn’t offer 0% intro APR. The regular purchase APR is 24.49% variable.

Fees:

  • Annual fee: $29
  • Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater.
  • Foreign transaction fee: None.

Alternatives to TD Bank credit cards

Bank of America® Cash Rewards credit card

If none of the TD Bank cards are quite what you need for your spending habits, the Bank of America® Cash Rewards credit card may be a good fit. This is a unique card that lets you choose from six categories to earn 3% cash back on. You can change your 3% category as frequently as monthly or leave it the same from month to month.

Rewards: Cardholders can earn 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs for the first $2,500 in combined choice category/grocery store/wholesale club quarterly purchases, 1% cash back on every purchase.

The options for the 3% cashback category are as follows:

  • Gas
  • Online shopping
  • Dining
  • Travel
  • Drug stores
  • Home improvement/furnishings

Sign-up bonus: Earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.

Intro APR: 0% introductory apr on purchases for 15 billing cycles. After, a 15.49% - 25.49% Variable APR on purchases applies. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After, a 15.49% - 25.49% Variable APR on balance transfers applies.

Fees:

  • Annual fee: $0
  • Balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater.
  • Foreign transaction fee: 3%

Discover it® Secured

  • 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically

  • Credit line will equal your security deposit of $200 or more*

  • No annual fee, no late fee on your first late payment. No penalty APR*

Highlights
  • No Annual Fee, earn cash back, and build your credit with responsible use.
  • It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
  • Establish your credit line with your tax return by providing a refundable security deposit of at least $200 after being approved. Bank information must be provided when submitting your deposit.
  • Automatic reviews starting at 8 months to see if we can transition you to an unsecured line of credit and return your deposit.
  • Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score
  • INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.
  • See Rates & Fees

See additional details for Discover it® Secured

More Info

This secured card is a great choice for those looking to build credit because it also offers rewards and doesn’t charge an annual fee. For those reasons, it’s consistently one of our top choices for secured cards. The minimum security deposit is $200.

Rewards: Cardholders earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically. Redemption options include statement credits, deposits into a bank account, paying with cash back at select merchants, and gift cards. Note that while most options have no minimum redemption amount, gift cards start at $20.

Sign-up bonus: For new cardholders, Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.

Intro APR: This card doesn’t offer 0% intro APR on purchases. The regular purchase APR is 22.99% variable. There is an intro offer of 10.99% for 6 months on balance transfers. After, an APR of 22.99% variable applies.

Fees:

  • Annual fee: $0
  • Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
  • Foreign transaction fee: None.

Read our review of the Discover it® Secured.

FAQs on TD Bank credit cards

Can I prequalify for a TD Bank credit card? TD Bank does not offer an online prequalification tool, unlike some other issuers such as American Express or Capital One. However, some consumers may get prequalification offers by mail.

Does TD Bank issue retail credit cards? Yes, TD Bank does issue store cards, such as the Target RedCard Credit Card.

Is the TD Bank Go Card a credit card? No, it’s a prepaid card designed to help parents manage their teens’ finances. Unlike credit cards, prepaid cards don’t build credit history.

Can I get a TD Bank gift card? Yes, you can purchase the TD Bank Visa® Gift Card and put anywhere from $25 to $750 on it. Note that this is a non-reloadable card, so you can’t add funds to it after the initial purchase. Also note that this card is not a credit card and will not build credit.


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