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TD Cash Secured Credit Card review

Last updated:  

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

24.74%

Purchase APR (variable)

300

Recommended credit score

Details

Product NameTD Cash Secured Credit Card
Annual fee$29
Purchase APR24.74% variable
Balance transfer APR24.74% variable
Balance transfer fee$5 or 3% of the transaction, whichever is greater
Cash advance rate26.99% 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 staff writer at finder.com. He's worked on over 150 Finder articles to help readers embrace and maximize credit cards. Steven has nearly a decade of research and reporting experience, and has also been a reporter and editor for several healthcare newsletters.

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.

Another secured credit card

Citi® Secured Mastercard®

  • The Citi® Secured Mastercard® is a no annual fee credit card that helps you build your credit when used responsibly.
  • Unlike a debit card, it helps build your credit history with monthly reporting to all 3 major credit bureaus. Once available, you will also have free access to your FICO score online.
  • Use your card anywhere Mastercard® is accepted — worldwide.
  • A security deposit is required. Once approved, your credit limit will be equal to your security deposit (minimum of $200).
  • Get help staying on track with Auto Pay and account alerts.
  • With Flexible Payment Due Dates, you can choose any available due date in the beginning, middle or end of the month.
  • Manage your account 24/7 online, by phone, or in our mobile app.
  • The standard variable APR for Citi Flex Plan is 23.99%. Citi Flex Plan offers are made available at Citi’s discretion.
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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 $500 to $5,000 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 24.74% 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.

Compare similar secured credit cards

Name Product Filter values Minimum deposit required Purchase APR Annual fee Recommended minimum credit score
Citi® Secured Mastercard®
Starting at $200
23.99% variable
$0
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A no annual fee secured card for people who are new to credit or have limited credit history with a fair to average credit score.
OpenSky® Secured Visa® Credit Card
Starting at $200
18.89% variable
$35
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A secured Visa® credit card that helps you build your credit quickly.
Applied Bank® Secured Visa® Gold Preferred® Credit Card
Starting at $200
9.99% fixed
$48
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This secured card can help you rebuild your credit with an initial deposit of $200 to $1,000.
CardMatch™ from creditcards.com
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300
Can't decide on a card? Get personalized credit card offers with CardMatch™.
First Progress Platinum Elite MasterCard® Secured Credit Card
Starting at $200
19.99% variable
$29
300
Build your credit with all three major credit bureaus.

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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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