TD Bank Clear Visa Platinum Credit Card

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.

TD Bank Clear Visa Platinum Credit Card

Our Rating

2.0/5.0

Welcome Offer

None

Annual Fee

Either $10 a month ($120 a year) or $20 a month ($240 a year)

0% Intro on Purchases

N/a

Reward Rate

No Rewards

0% Intro on Balance Transfers

N/a

Editorial Review

Features & Benefits

SecurityEMV Chip Enabled, Zero Liability, Identity theft protection
Contactless PaymentsTap to Pay, Apple Pay, Google Pay, Samsung Pay
BenefitsCell Phone Protection, 24/7 customer service
Travel PerksRoadside Assistance

Rewards

Interest Rates & Fees

Annual FeeEither $10 a month ($120 a year) or $20 a month ($240 a year)
Foreign Transaction Fee$0
Regular APRN/a (V) APR

Insurance

Cell Phone Insurance

Get reimbursement for your stolen or damaged cell phone when you pay for your wireless phone bill with your TD Bank Visa Credit Card.

Pros & Cons

Pros
  • No foreign transaction fee
  • Monthly cost is predictable
Cons
  • No welcome bonus
  • No rewards
  • Monthly fee

What Are the Best Alternatives?

Capital One Quicksilver Secured Cash Rewards Credit Card
Capital One Quicksilver Secured Cash Rewards Credit Card

Rating

3.8

Rewards Range

1.5%

Annual Fee

$0

Secured Chime Credit Builder Visa® Credit Card
Secured Chime Credit Builder Visa® Credit Card

Rating

4.5

Rewards Range

N/A

Annual Fee

$0

U.S. Bank Cash+® Secured Visa® Card
U.S. Bank Cash+® Secured Visa® Card

Rating

3.8

Rewards Range

1% - 5%

Annual Fee

$0

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