TD Bank Clear Visa Platinum Credit Card
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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.
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% on Purchases
N/a
Reward Rate
No Rewards
0% on Balance Transfers
N/a
Welcome Offer
None
Features & Benefits
| Security | EMV Chip Enabled, Zero Liability, Identity theft protection |
| Contactless Payments | Tap to Pay, Apple Pay, Google Pay, Samsung Pay |
| Benefits | Cell Phone Protection, 24/7 customer service |
| Travel Perks | Roadside Assistance |
Rewards
Interest Rates & Fees
| Annual Fee | Either $10 a month ($120 a year) or $20 a month ($240 a year) |
| Foreign Transaction Fee | $0 |
| Regular APR | N/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
- No foreign transaction fee
- Monthly cost is predictable
- No welcome bonus
- No rewards
- Monthly fee
What Are the Best Alternatives?
Capital One Quicksilver Secured Cash Rewards Credit Card
Rating
4.8
Rewards Range
1.5%
Annual Fee
$0
Secured Chime Credit Builder Visa® Credit Card
Rating
4.5
Rewards Range
N/A
Annual Fee
$0
U.S. Bank Cash+® Visa® Secured Card
Rating
4.6
Rewards Range
1% - 5%
Annual Fee
$0