TD Clear Visa Platinum Credit Card: A Comprehensive Look at Its Features

The TD Clear Visa Platinum Credit Card is a popular choice for Canadians looking for a reliable and feature-rich credit card. It offers a competitive interest rate of 12.99% per annum.

With a credit limit of up to $10,000, you'll have plenty of room to make purchases and pay off your balance over time. This card also features a 25-day interest-free period on new purchases.

One of the standout features of this card is its travel insurance, which covers you for up to $1 million in medical expenses while traveling outside Canada. This can provide peace of mind when booking your next trip.

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The TD Clear Visa Platinum Credit Card has some notable features. The Regular APR Interest Rate is 0%.

You won't pay any interest on purchases or balance transfers, which can help keep your costs down. This can be a big advantage if you're carrying a balance or making large purchases.

Here are the interest rates at a glance:

With no annual fee, balance transfer fee, or cash advance fee, you can save even more money.

TD Bank offers a Clear Platinum Visa Credit Card with a $2,000 credit limit and a $20 monthly membership fee.

The card has no interest, just a simple monthly fee, making it a predictable option.

You'll also enjoy Visa benefits like cell phone protection and emergency card replacement.

There are no late payment or foreign transaction fees, which can save you money in the long run.

To be eligible for this card, you must be a resident of a specific set of states, including CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, or VT.

Here's a quick breakdown of the key details:

To get accepted for a credit card, you'll want to know the recommended credit score. A 750+ credit score is recommended for approval.

The issuer doesn't provide this review, but the recommended score is widely accepted as a benchmark.

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The TD Clear Visa Platinum Credit Card has a unique fee structure that's worth understanding. The card charges a $20 monthly membership fee, which is a significant cost.

If you don't carry a balance, this card isn't a good choice for you. In fact, carrying a balance is the best way to use this card, as it avoids interest charges altogether.

The card has no interest charges, no balance transfer fees, no late payment fees, and no cash advance fees. However, it does have a $20 monthly fee, which adds up to $240 per year.

Here are the card's fees and charges:

The TD Clear Visa Platinum Credit Card has a unique fee structure that's worth understanding. It charges a monthly fee, which can range from $10 to $20, depending on the credit limit.

This monthly fee is unavoidable, even if you don't carry a balance or make any purchases. You'll still be charged the monthly fee, which adds up to $120 per year. This is a significant cost, especially when compared to other credit cards that charge an annual fee.

The card's foreign transaction fee is 0%, which is a plus for international travelers. However, the card's rewards rate is N/A, so you won't earn any rewards on your purchases.

Here's a summary of the card's fees:

If you carry a balance, the card's $20 monthly fee may be more expensive than the interest charges on a different card. However, if you use almost or all of the credit limit and carry a balance, the card's no-interest policy can be a cost-effective option.

The card's interest-free policy is a significant benefit, but it's not without its trade-offs. You'll still be charged a fixed monthly payment, which includes the monthly fee, even if you don't carry a balance. This can make it difficult to justify the card's fees if you never carry a balance.

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If you live in certain states, you'll be able to access a specific card. This card is only available if you reside in Connecticut, Delaware, Florida, Massachusetts, Maine, Maryland, North Carolina, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, South Carolina, Virginia, Vermont or Washington D.C.

Some states have restrictions on card availability, so it's essential to check your location before applying.

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The TD Clear Visa Platinum Credit Card has its advantages and disadvantages. Here are the key pros:

This card doesn't charge an APR, allowing you to carry a balance month to month without accruing interest. It also has almost no fees, making it forgiving if you miss a payment.

The card doesn't charge interest, which can help people manage debt easier. Predictable monthly payments make budgeting easier.

However, the card lacks rewards, falling behind in its class. It's also only available in 15 states and Washington, D.C.

The TD Clear Visa Platinum Credit Card can be beneficial in certain circumstances. For example, its fixed monthly payment can benefit budgeters, providing extra wiggle room and making budgeting easier when paying down a balance.

If you have a balance that takes up most of your credit line and know you can't pay it in full immediately, the monthly fee could be less than the interest charges you would accrue on a traditional credit card, and your payments would mostly go toward paying down the principal balance.

Here are some key benefits and drawbacks of the TD Clear Visa Platinum Credit Card:

As a cardholder, you'll get benefits from the Visa payment network, which may offer additional savings toward everyday purchases. Some benefits include cell phone protection and a complimentary Shipt membership for three months.

The cell phone protection benefit can be a lifesaver, especially during unexpected situations.

These benefits can change over time, so review the card's offerings for up-to-date benefits.

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The TD Clear Visa Platinum Credit Card offers a predictable monthly payment, making budgeting easier, especially if you tend to carry a balance on credit cards from one month to the next.

This card charges a $10 monthly fee for a credit limit of $1,000 or a $20 monthly fee for a $2,000 credit limit, instead of paying interest charges.

A poor choice for balance transfers, the TD Clear Visa Platinum Credit Card charges no interest and has no balance transfer fee, but it can still cost more than other balance transfer credit cards that offer a 0% introductory APR and no monthly fee.

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You can transfer as much as the credit limit allows, but the fixed credit limit makes it a poor candidate for transferring large amounts of debt.

With good credit, a balance transfer card like the $0-annual-fee BankAmericard credit card can offer a lengthy interest-free window, with a balance transfer fee of 3% for 60 days from account opening (then 4%).

Carrying a balance without incurring interest is the main selling point of the Clear Platinum Visa with $2,000 Credit Limit, where you only pay a $20 monthly fee instead of interest.

This feature offers impressive flexibility if you need to make a modestly large purchase and can't afford to pay in full for a few months.

The best value for this card is if you use almost or all of the $1,000 available credit limit and carry a balance, as you can use it for emergency expenses or financing larger purchases without worrying about the cost of borrowing.

You'll pay a minimum $45 monthly payment, which includes the $10 monthly membership fee, if you carry a balance on the card.

Carrying a balance on this card can be cheaper than carrying a balance on a credit card with a 20 percent APR, where your monthly interest charges would be $16.70, and your monthly payment would be around $93.

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The TD Clear Visa Platinum Credit Card has a monthly fee of up to $20, which can be almost as expensive as some premium credit cards that offer rewards and perks.

If you have good to excellent credit, better options exist. Typically, this means having a FICO score of at least 690.

The card has some limitations, such as only making sense if you plan to carry a balance, which is generally not recommended due to high interest rates.

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The TD Clear Visa Platinum Credit Card is a unique option that charges a set monthly fee instead of interest. This can be appealing to those who value predictability, but it may not always be the best choice.

You'll need to have good to excellent credit, typically a FICO score of at least 690, to qualify for this card. Better options exist for those with good credit.

The card has a 0% APR on purchases, but it's not ideal for carrying a balance. In fact, the monthly fee can be almost as expensive as some premium credit cards that offer rewards and perks.

This card is best suited for those who plan to carry a balance, but it's generally not recommended to carry a balance on credit cards due to high interest rates.

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If you're considering the TD Clear Visa Platinum Credit Card, it's worth looking at some of its popular alternatives. The Discover it Secured Credit Card, for example, has a WalletHub rating of 4.7 out of 5.

The Capital One Platinum Credit Card also has a high rating, with a WalletHub rating of 3.6 out of 5. Both cards offer a $0 annual fee, which is a great perk for those looking to save money.

Here's a quick comparison of the three cards:

These cards offer different benefits, but all three are worth considering if you're in the market for a new credit card.

We evaluate credit cards by considering both the quantitative and qualitative features of a card. Quantitative features include fees, interest rates, rewards, and the cash value of benefits and perks.

Fees, interest rates, rewards, and benefits are broken down into dollars and cents, making them easy to compare. We consider the earning rates, redemption values, and cash value of rewards.

Qualitative factors, on the other hand, affect how easy or difficult it is for a typical cardholder to get good value from the card. These factors include the ease of application, simplicity of the rewards structure, and the likelihood of using certain features.

Our star ratings serve as a general gauge of how each card compares with others in its class. But, star ratings are just one consideration when choosing a credit card.

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If you're looking for alternatives to the TD Clear Visa Platinum Credit Card, there are a few options to consider. The Discover it Secured Credit Card is a popular choice, with a WalletHub rating of 4.7 out of 5.

One of the key benefits of the Discover it Secured Credit Card is its ability to help you improve your credit score by paying in full each month. It also offers a rewards rate of 1 - 2% Cash Back, which is a nice perk.

The Capital One Platinum Credit Card is another option to consider, with a WalletHub rating of 3.6 out of 5. It also offers a rewards rate of None, but has a lower annual fee of $0.

Here's a comparison of the three cards:

It's worth noting that the Discover it Secured Credit Card has a higher number of user reviews, with 2,944 reviews compared to the Capital One Platinum Credit Card's 5,560 reviews.

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Whether you're considering the TD Clear Visa Platinum Credit Card, it's essential to think about carrying a significant balance on it.

The card's rewards program is essentially non-existent, so if you're looking for benefits like cashback or travel points, this might not be the best choice.

Your state of residence also plays a crucial role in whether or not you can even apply for this card.

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