TD Bank Clear Visa Platinum Credit Card

Editorial Note: We earn a commission from partner links on Allcards. Commissions do not affect our authors’ or editors’ opinions or evaluations. From our partners: See our advertiser disclosure here.

The TD Bank Clear Visa Platinum Credit Card is designed for those who are either building or rebuilding their credit. It’s not a secured card. The way it works is you either get a $1,000 credit limit or a $2,000 credit limit. You pay a monthly fee; $10 for a $1,000 credit limit or $20 for a $2,000 credit limit. You pay the same minimum monthly payment each month inclusive of the monthly fee: $45 for a $1,000 credit limit and $70 for a $2,000 credit limit.

This may seem, at first glance, like a great idea. It’s easier to budget if your monthly payment is always the same, and there is no credit check. The card reports to all three credit bureaus, so you can give your credit score a boost by paying on time. And you get cell phone protection and roadside assistance, which are valuable benefits.

However, although the card says it has “no annual fee,” simple calculation reveals that the cost per year is either $120 or $240. Also, you must pay the monthly fee whether you use the card or not, whereas you will not have to pay anything on a traditional card if you don’t use it. There are no rewards and no welcome bonus. It might be a good choice for some, but it’s a costly option. Consider a secured card instead. We dive into the details in this TD Clear review.

Pros & Cons

What Are the Best Alternatives?

Related Articles