TD Emerald Flex Rate Visa Card Review

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Save money with a low variable annual interest rate based on your credit score.

The TD Emerald Flex Rate Visa is a no-rewards card that allows you to pay low interest rates on outstanding balances and cash advances.

TD Prime¹ + 4.5% up to TD Prime + 12.75%

Purchase Interest Rate

$25

Annual Fee

N/A

Balance Transfer Rate

Details

Product NameTD Emerald Flex Rate Visa Card
RewardEnjoy a full annual fee rebate for the primary cardholder for the first year. Conditions apply. Apply online by March 2, 2020.
Welcome OfferEnjoy a full annual fee rebate for the primary cardholder for the first year. Conditions apply. Apply online by March 2, 2020.
Purchase Interest RateTD Prime¹ + 4.5% up to TD Prime + 12.75%
Cash Advance RateTD Prime¹ + 4.5% up to TD Prime + 12.75%
Balance Transfer RateN/A
Interest Free Period 21 days on all new purchases
Minimum Credit Limit$1,000
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More Info

30-second take

  • Get this card if you have a good credit score and want a low interest rate on eligible purchases.
  • Choose something else if you’d rather get rewards or want more benefits.
  • This card does not have minimum annual income requirements.

The basics

If you have a decent credit score and you want to get a low interest rate on your purchases, then this card could be a good fit for you. It comes with a low annual fee of $25 and optional travel benefits.

Interest rates will vary based on your credit score and can fall anywhere between 8.45% and 16.7%. TD uses its own prime rate (3.95%) to figure out the rate you’ll receive. The equation it uses to do that will be TD Prime¹ + 4.5% up to TD Prime + 12.75%.

If you have good credit, you’ll likely end up paying around 8–13%. For anything over that amount, you’re better off looking into a different low interest card.

The perks

  • Product coverage. Get extended warranty and purchase protection for products you buy with your card.
  • Car rental discounts. Up to 10% rental discount at participating Avis and Budget locations in Canada and the US and 5% discount overseas.
  • Contactless payments. Simply tap for quick payments on the go with Apple Pay or Visa payWave (for Android).
  • Online security. Use Verified by Visa to protect your purchases when you shop online.
  • Zero-liability coverage. Rest easy knowing you won’t have to pay for fraudulent activity on your account (and get fraud alerts to stay up to date on questionable transactions).
  • Easy to qualify. You can apply easily with no annual income requirements.

What to watch out for

  • Annual fee. Pay $25 per year to keep your account in good standing.
  • No rewards or cash back. The low interest rate replaces a rewards or cash back return as the main incentive.
  • Pay for extras. You’ll have to pay extra to add on benefits like travel medical insurance and trip cancellation and interruption incurance.
  • Based on credit score. This card is probably not the best option if you have a bad credit score, as you’ll likely pay an interest rate around 15–17%.

What should I know before you apply?

How to apply

  1. Click “Go to site” on this page to be directed to your TD Emerald Flex Rate Visa Card application.
  2. Complete the application, which includes providing your name, email address, social insurance number and date of birth.
  3. Review and submit your application.

Bottom line

The TD Emerald Flex Rate Visa Card is a no-frills card that will give you a low interest rate based on your credit score. It costs $25 per year and comes with optional benefits like travel insurance and roadside assistance (which you can add on for a fee).

Frequently asked questions about the TD Emerald Flex Rate Visa Card

Picture : td.com/ca

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