What you need to apply for the TD Cash Secured Card
☑️ A TD Bank Simple Savings account to secure the card with a refundable deposit.
☑️ A minimum deposit of $300 (or more, depending on your desired credit limit).
☑️ Proof of U.S. residency and a valid form of identification.
☑️ Be at least 18 years old and meet TD Bank’s credit review standards.
☑️ Required documentation for identity and financial verification.
Approval depends on meeting these requirements. TD Bank may request additional information or documentation during the review process.
How to apply for the TD Cash Secured Card
Applying for the TD Cash Secured card is straightforward. Begin by visiting the official TD Bank website or a nearby branch. Fill out the application form, providing accurate personal and financial details. Once your application is conditionally approved, you’ll be guided to open a TD Simple Savings account and make a security deposit.
The deposit amount determines your credit limit, ranging from $300 to $5,000. After final approval, you’ll receive your card and can start using it immediately. If your application is not approved, you may reapply after improving your financial profile.
Paying off your bills
Managing payments for the TD Cash Secured card is easy. You can pay online through the TD Bank app, set up automatic payments, or visit a TD Bank branch.
To avoid late fees or interest charges, pay at least the minimum amount by the due date, though paying the full balance is recommended for maximum financial benefits.
Fees and costs
The TD Cash Secured card comes with an annual fee of $29, along with a variable Annual Percentage Rate (APR) of 27.49% for purchases. Cash advances incur an APR of 29.74%, with a fee of either $10 or 5% of the transaction amount, whichever is higher.
Balance transfers have a fee of $5 or 3%, and international transactions are subject to a 3% fee in U.S. dollars. Late or returned payments can result in charges of up to $40. Understanding these fees ensures you can use the card responsibly without unexpected costs.
An overview
The TD Cash Secured card is ideal for individuals focused on building credit while enjoying cashback benefits. With its customizable credit limit and rewards program, it offers flexibility and financial growth opportunities.
However, it’s essential to consider associated fees, such as its high APR and annual charge, to determine if it aligns with your financial goals.
You can start now!
If you’re ready to take control of your finances, the TD Cash Secured card offers a simple application process and practical benefits. Click below to start your journey today!
