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TD Cash Secured Credit Card review

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Rebuild your credit and earn solid rewards with this card.

  • Get this card if: you’re looking for solid rewards and to rebuild your credit.
  • Pick something else if: you have fair or better credit.
  • Apply if: you have a poor to fair credit score of 300 or higher.

Up to 3x

Points

$29

Annual fee

22.99%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameTD Cash Secured Credit Card
Annual fee$29
Purchase APR22.99% variable
Balance transfer APR22.99% variable
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate25.24% variable
Cash advance fee$10 or 5% of the cash advance amount, whichever is greater
Foreign transaction feeNone
Interest free periodUp to 25 days
Late payment feeUp to $37
Returned payment feeUp to $37

Expert review

Steven Dashiell

Review by


Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.

Expert review

The TD Cash Secured Credit Card helps you rebuild credit.

TD ups the ante on the standard secured card formula by offering a solid rewards program on common categories such as purchases for dining and groceries. This is an uncommon perk for secured cards and can help you create healthy spending habits while you rebuild your credit.

The perks

  • Varied reward program.
    You’ll earn 3% cash back on dining purchases, 2% cash back at grocery stores and 1% cash back on all other eligible purchases.
  • Graduate to an unsecured card.
    TD may approve you for an unsecured TD Bank credit card if you maintain good standing and make payments on time for seven consecutive billing cycles.

You’ll also like

  • No foreign transaction fees.
    You won’t pay fees on purchases made abroad.
  • Visa Zero Liability.
    You’ll receive Visa security on your purchases as well as protection against unauthorized charges on your card.
  • Instant card replacement.
    You can go to your nearest TD bank to receive an immediate replacement card if your card is lost or stolen.

Compare TD Bank credit cards

What to watch out for

  • Variable credit line.
    TD will approve you for a credit line ranging from $5,000 to $300 depending on your past credit and financial history.
  • Deposit required.
    You’ll need to deposit the full amount of your credit line into a TD savings account before they’ll send the card. TD will freeze this account, so you won’t be able to retrieve this deposit.
  • High APR.
    You’ll have a variable purchase APR of 22.99% when you open your account. This same rate applies to balance transfers as well.
  • Annual fee.
    You’ll need to pay an annual fee of $29 to use this card. Note that some brand’s secured cards require no annual fee for use.
  • Balance transfer fee.
    You’ll pay $5 or 3%, whichever is greater, of your balance transfer.
  • Limited reward options.
    TD only offers cash back on this card.

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A rare secured card with a 0% intro APR on purchases for 6 months, followed by 12.99% variable.
First Progress Platinum Elite MasterCard® Secured Credit Card
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Applied Bank® Secured Visa® Gold Preferred® Credit Card
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No credit check is required for this secured card. Make a deposit of at least $200 to open this card and get a low 9.99% fixed APR on purchases.
Self Visa® Credit Card
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Compare up to 4 providers

Bottom line

If you have poor to fair credit and want to rebuild your score with a secured card with a good rewards program, consider the TD Cash Secured Credit Card. Just be sure to pay off your balance on time and in full to avoid the card’s high APR.

Compare your secured card options to find cards with lower APRs or other perks to help you rebuild your credit score.

Frequently asked questions

Images: td.com

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