TD Cash Secured Credit Card

TD Cash Secured Credit Card

The TD Cash Secured Credit Card is an excellent option for individuals looking to build or rebuild their credit while earning rewards on everyday purchases. Designed for those with limited or no credit history, this card offers cash back benefits and the opportunity to establish a positive credit profile with responsible use. However, it does come with a modest annual fee and requires a TD Savings account to secure your credit limit.

Key Features

The TD Cash Secured Credit Card offers a range of features that make it a compelling choice for credit-building while earning rewards:

• Earn 3% Cash Back: Choose one spend category, such as dining, groceries, or gas, to earn 3% cash back on purchases.
• Earn 2% Cash Back: Select another spend category to earn 2% cash back.
• Earn 1% Cash Back: Receive 1% cash back on all other purchases.
• Credit Building: Build or rebuild your credit with responsible use, as TD Bank reports your activity to major credit bureaus.
• Customizable Credit Limit: Your credit limit is secured by the amount you deposit in your TD Savings account, giving you control over your spending limit.

How to Earn the Bonus

This card does not currently offer a sign-up bonus. There is no spend requirement or bonus points/miles to earn upon opening the account.

Our Verdict

The TD Cash Secured Credit Card is a solid choice for individuals who are new to credit or looking to rebuild their credit history. Its standout feature is the ability to earn up to 3% cash back in a category of your choice, which is rare for secured credit cards. Additionally, the 2% and 1% cash back rates on other purchases add value to your everyday spending. However, the card does come with a $29 annual fee, which is worth considering if you’re on a tight budget. Another potential drawback is the requirement to open a TD Savings account to secure your credit limit, which may not appeal to those who prefer to keep their banking relationships elsewhere. Overall, the TD Cash Secured Credit Card is a great tool for building credit while earning rewards, provided you’re comfortable with the annual fee and savings account requirement. If you’re looking for a secured card with cash back perks and are committed to responsible credit use, this card is worth considering.