TD Bank Secured Credit Card

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Many banks are servicing various types of credit cards, including the secured ones. Among those services, TD Bank secured credit card stands out. This credit card has several attractions that encourage people to get it against the other cards. What are the features that capture many people’s attention? How to obtain this credit card?

Secured Credit Card at TD Bank

What is so special about TD Bank secured credit card? Well, first of all, this card has similar objectives as credit card with initial deposit from other banks. Most people use it to increase their credit rating, whether it is from poor rating or zero point. That is why the qualifications required for requesting this credit card type are not as strict as if you are getting unsecured credit card. Regardless of their credit scores and history, people can apply for this card. The only downside is the requirement to pay for deposit before getting your card.

When you are getting a TD Bank secured credit card, you will be asked to set up an account. This account will keep your deposit until you close your credit card account or card agreement is nullified. The deposit is made after there is an agreement over credit line applied in your card. If debtor is paying more than the agreed amount, it will not increase limit.

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TD Bank secured credit card comes in the forms of Easy Rewards and Cash Rewards credit card with deposit. This card is designed for people who love gaining rewards. Easy Rewards card works in point system, while the Cash Rewards card gives out cash back for transactions made using that card. When choosing between the two, you must weigh its pros and cons. At times, cash back system is more beneficial than point system. Other times, it works the opposite way. There is no annual fee when using this card.

Minimum credit line for TD Bank secured credit card is $500. This amount can be made higher if debtor paid higher deposit at the starting point. Its maximum line is $5000. Bank may issue new credit line and inform it to debtor. In other hand, debtor can also ask for a change in credit line. However, request for modifying one’s credit limit may not always be approved. Debtor can go over their limit when spending money using their card. They are expected to payoff that amount immediately at the bank’s request.

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There are several kinds of transactions that you can do using TD Bank secured credit card. The most basic type is purchasing. It can be used wherever Visa card is approved. This card is able to draw money up to certain limit or in other words performing cash advance. Balance transfer from other card accounts is also allowed with a minimum amount of $250.

To apply for a TD Bank secured credit card, you can visit its branches that are located in several locations within United States and Canada. Contacting the bank’s officer is a good starting point to get more information related to this card. It is available all day and every day at 1-888-751-9000.