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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
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. Save on interest charges with a preferred low variable annual interest rate.
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 (2.450% as of March 30, 2020) 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%.
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. If you have a poor credit score, you’ll face a higher interest rate.
What should I know before you apply?
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
