The new credit card portfolio now includes TD Clear, an innovative interest-free card, and TD FlexPay, a flexibility-focused card, as well as updated customer favorites TD Double Up and TD Cash.
TD Bank Introduces Two New Credit Cards. (Credit: PiggyBank on Unsplash)
TD Bank, America’s Most Convenient Bank®, today announced the launch of a new suite of credit card products that includes two new credit card types as well as improvements to existing customer favorites, building on TD’s growing momentum in the credit card space. The launch introduces TD Clear, a no-interest credit card that charges a simple monthly fee— the first of its kind in the U.S. market—as well as TD FlexPay, TD’s most flexible credit card to date with increased payment flexibility and generous balance transfer offers. The new credit card offerings complement the enhancements also made to the existing TD Double Up and TD Cash credit cards.
The launch represents TD Bank’s most significant investment to date in the credit card space, creating new card offerings and improving existing products. It comes on the heels of substantial investments in TD’s credit card servicing and digital experience. This expanded credit card portfolio represents a full range of options for customers to determine the best fit for them.
“Customers are looking for clarity around credit to empower them to handle their finances with confidence,” said Matt Boss, Head of Consumer Product at TD Bank. “Our new cards, paired with our existing offerings, provide a solution for everyone. TD Clear delivers transparency and simplicity, taking interest out of the equation with a low monthly fee. TD FlexPay offers our most payment flexibility yet, giving cardholders the option to schedule a Skip a Payment once a year while providing late fee forgiveness on the first late payment every twelve months.”
Introducing TD Clear: No Interest Rates, Just a Simple Monthly Fee
TD Clear is a subscription-based credit card with no interest—just a straightforward monthly fee. Consumers can choose between two products: a $10 monthly fee for a $1,000 credit limit or a $20 monthly fee for a $2,000 credit limit, with no hidden fees. That means no foreign transaction fees, no annual fees, no cash advance fees, no over-the-limit fees, no returned payment fees, and no interest charges.
“This card is the first of its kind in the U.S.,” said Chris Fred, Head of Credit Cards and Unsecured Lending at TD Bank. “Our research indicated that many customers want a simple solution to credit. TD Clear provides simplicity with a predictable monthly payment.”
Source: Company Press Release