Types of TD credit cards
For some clients, a low-interest rate is a top priority, while cashback programs are important for others. Whatever your priority, TD Bank will offer you the credit card type that suits your needs best.
Cash back cards. With a cashback credit card, you can earn cash back money on your purchases and redeem it as needed. You can get a higher earn rate with specific categories of spending (grocery purchases, gas purchases, and regularly recurring bill payments). TD cash back credit cards feature interest rates for purchases ranging from 19.99% to 20.99%. The ARR for cash advances is 22.74%.
Aeroplan credit cards. TD Aeroplan credit cards allow earning Aeroplan points on eligible purchases and redeeming them for flights further. Depending on the conditions and perks included, the annual fees for Aeroplan credit cards range from $89 to $599. In addition, the interest rate for purchases ranges from 14.99% to 19.99%, and the interest rate for cash advances is 22.99%.
Travel credit cards. Similar to Aeroplan credit cards, travel credit cards allow you to earn rewards points on everyday purchases and further redeem them for your travel-related purchases, such as booking flights and hotels. The interest rate for purchases and balance transfers is 19.99%, and for cash advances — 20.99%. The annual fees for travel credit cards range from zero to $149.
No annual fee credit cards. If you want to earn rewards on your everyday purchases but don’t want to pay annual fees, this type of credit card is a good option. No annual fee credit cards make sense for clients who don’t use this banking product too often. No annual fee credit cards from TD Bank still allow you to earn cash back dollars and reward points. The interest rate for purchases ranges from 11.99% to 19.99%, and the rate for cash advances ranges from 11.99% to 22.99%.
Low-interest rate credit cards. For clients willing to save on interest payments, TD Bank offers low-interest credit cards. With these cards, the interest rates for purchases and cash advances start from 11.99%. Many clients use these cards to consolidate the outstanding debt from credit cards with higher interest rates issued by other financial institutions.
U.S. dollar credit cards. If you need to make purchases in U.S. Dollars and want to save on foreign currency conversion fees, consider opening the TD U.S. Dollar Visa* Card. The interest rate for purchases is 19.99% with this card, and for cash advances — 22.99%.
Business credit cards. Entrepreneurs willing to separate personal expenses from business expenses can open a TD business credit card. The annual fees for business credit cards range from zero to $149. For cards with annual fees, TD Bank has a special offer in place providing up to $247 in Annual Fee rebates in the first year. Business credit cards feature the interest rate for purchases ranging from 11.99% to 19.99%. The interest rates for cash advances range from 11.99% to 20.99%. Everyone who opens a TD Business Credit Card also gets access to the TD Card Management Tool® to keep track of spending and set credit limits as needed.
Student credit cards. TD credit cards for students open an opportunity for youth to start building their credit history. Credit card options for students include ones with zero annual fees. Cards with higher annual fees offer additional perks like attractive reward programs. With most TD student credit cards, the interest rate for purchases and balance transfers is 19.99%, and for cash advances — 20.99%.
How to open a TD credit card
Just like with most banking products, you can apply for a TD credit card online, by phone, or at your local branch. Applying online is probably the fastest way to get a card.
Requirements
To apply for a TD credit card, you must be a Canadian resident of the age of majority in your province or territory of residence. When applying for a card, be sure to provide a valid email address.
When applying for a business credit card, prepare the documents confirming the functioning of your business. If you are running your business with partners, ask them to provide the verification documents as well.
Pros and cons
Credit cards from TD Bank have certain advantages, such as:
A great choice of options tailored to specific needs — low-interest fees, zero annual fees, or cash back and reward points
Special offers featuring bonus rewards, waived annual fees, and other perks
Convenient credit card account management
Still, there are certain disadvantages to be aware of:
A range of credit card fees that you may face — fees for late and returned payments, annual fees, foreign transaction fees, and more
To redeem your cash back points earned, you need to have at least 2,500 points (which equals $25)
How to make a payment
There are several ways to pay your credit card account.
First, you can transfer money from any of your other TD accounts to your credit card account.
Second, you can set up recurring credit card payments through EasyWeb or the TD app. To do this, you will need to add your credit card account as a payee.
Third, you can use your TD reward points or cash back dollars for your credit card payments.
Fourth, you can make a credit card payment through a TD ATM.
Finally, you can pay in cash at your local TD Canada Trust branch.
