TD Bank Expands Credit Card Portfolio with Cash Back Card
New Jersey-based TD Bank has added another credit card to its card portfolio, now offering a cash rewards option to consumers, with a bonus for those who dine out often.
While TD Bank's other credit cards offer miles or Ameritrade rewards, this card focuses on cash as its main reward. It offers two percent back on all dining purchases and one percent cash back on other types of purchases. The card has no limits on the amount of cash rewards a cardholder can earn, and rewards don't expire.
Cardholders can redeem rewards for cash back, gift cards, travel, unique experiences or other merchandise. Cardholders can start redeeming their rewards at $25, although redemptions for hotel rooms or car rentals start at $150, and round trip airfare redemptions start at $250. Cardholders can also access online coupons for shopping deals that can help them save even more money.
"Today's credit card consumers are savvy and demanding," said Julie Pukas, head of U.S. Bankcard and Merchant Services, in a statement. "They want simplicity and generous rewards without restrictions in their credit card reward program. Our TD Cash credit card offers both, making it a better option for their everyday use. Whether they're purchasing coffee at a local café, sub at the local deli, or dinner at a five star restaurant, we're truly giving consumers the freedom to maximize cash rewards on all dining purchases and more."
The card comes with the latest EMV chip technology, designed to better secure a cardholder's account information. The card does not have an annual fee, nor does it have any foreign transaction fees. The introductory APR is zero percent for the first twelve billing cycles and then is a 13.24%, 18.24% or 23.24% variable rate based on creditworthiness. Balance transfer fees are four percent or a minimum of $10 for each transfer, and the minimum amount that can be transferred is $250.
Like its three other credit cards, the TD Cash Visa Credit Card carries the Visa Signature brand, which comes with cards that have a $5,000 or higher credit limit. Visa Signature benefits include Visa Zero Liability, an always-open concierge service, access to exclusive events, warranty management and shopping deals. It also offers various travel benefits, including auto rental collision damage waiver, roadside assistance, emergency travel services, lost luggage reimbursement and travel accident insurance, among other benefits.
Card applicants whose accounts are approved for less than $5,000 will receive a Visa Platinum card. This card comes with fewer benefits than the Visa Signature card, but it does have auto rental collision damage waivers, emergency card replacement and disbursement, and lost or stolen card reporting.
Along with an introductory zero percent APR, TD Bank also has a promotional offer for anyone who goes online to open an account for the TD Cash Visa card by February 29 will be eligible for a $200 bonus if they use the card to spend $1,500 on eligible purchases during the first 90 days the account is open.
Cardholders can also get access to TD Bank's financial education and credit management tools if they also have a TD Online Banking account. This includes TD CreditView, which is an online dashboard that provides relevant and recent information about one's credit history. Other features include a free VantageScore, which is a personal credit-rating score from the three major American credit bureaus, and other financial literacy tools.
"It's imperative that our customers understand how credit usage impacts their financial health," said Pukas. "Through TD CreditView, TD Cash customers can maintain good financial health and make wise credit decisions."