Review: TD Bank Credit Cards

td-bank-credit-cardsTD Bank offers 4 main credit cards to consumers, all of which are OK but not the most competitive cards on the markets. Our overview / review of the D Bank credit cards is below:

  • The is a nice cash back card that sort of hides itself, because the name suggests that it is only for TD Ameritrade brokerage customers — it is not. Here’s how it works: you get 1.5 points per dollar on card purchases, which translates into 1.5% if you choose to get your rewards as cash back — a generous offer in today’s market. (You can also use the points for merchandise or gift cards.) Now, there is a bonus for being a TD Ameritrade customer — you can get a 10% bonus on your rewards if you deposit them into a TD Ameritrade account, which means you would get a cash back reward of 1.65%, very nice.

  • The is your basic cash back credit card. It offers you a 1% rebate on all of your card purchases. For the first 6 months you have the card, you get a bonus — a 5% rebate on all of your purchases. While the 5% introductory rebate is great, the 1% rebate you’ll get over the long term is less competitive. (The TD Ameritrade card above is a better choice, or see our Cash Rebate Credit Cards page for other good cash back card offers.) Interest rate anywhere from a great 9.24% all the way to a terrible 23.24%, based on your credit history.
  • The is a reward points card, with a similar formula to the Cash rewards Visa above. It offers 1 point per dollar charged to the card, but it offers 5 points per dollar for the first 6 months you have the card. Points can be redeemed for merchandise, gift cards, travel, etc. Interest rate anywhere from a great 9.24% all the way to a terrible 23.24%, based on your credit history.
  • The is a rewards credit card with an $89 annual fee, though that fee is waived for the first year. It offers “miles” that really act the same as any other reward points, meaning that you can redeem the miles as statement credits or get gift cards or merchandise with them, but they are not used for travel rewards. Here’s how it works: You get 3 “miles” per dollar on dining and travel purchases, and 1 mile per dollar on all other purchases. You also get 15,000 bonus miles after you use the card for the first time, and 10,000 more if you use the card for at $3000 in purchases in the first 6 months. Interest rate on this card is a reasonable 13.24%.

See also: 0% Balance Transfer Credit Cards, Instant Approval Credit Cards, TD Bank Credit Card Payment, Login, and Customer Service Information