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TD Cash Secured Credit Card

BestCards Team

| Last updated on November 14th, 2023

TD Cash Secured Credit Card

TD Cash Secured Credit Card
Poor-No Credit Required
BestCards refers to a variation of FICO Score 9, which is one of many different types of credit scores. A financial institution may use a different score when deciding whether to approve you for a credit card. Please note that the range shown here is our own estimation and not a guarantee of credit needed to be approved for any given card. Recommended Credit: Poor / No Credit Required
Visa Processing Network
$29 Annual Fee

TD Cash Secured Credit Card

  • 27.99% variable based on the Prime Rate Regular Purchase APR
  • 27.99% variable based on the Prime Rate Balance Transfer APR
  • 30.24% variable based on the Prime Rate Cash Advance APR

At a Glance

If you don’t have an impressive credit score, the TD Cash Secured Credit Card can help you get back on track while you earn 3% cash back on dining, 2% at grocery stores, and 1% on other eligible purchases wherever life takes you.

  • Best Benefits
  • Rates & Fees
  • Why Should You Apply?
  • Build or repair your credit and earn cash back on everyday purchases
  • Chance at an unsecured card in as little as 7 months
  • Earn 1% Cash Back on all eligible purchases
  • Regular Purchase APR: 27.99% variable based on the Prime Rate
  • Balance Transfer APR: 27.99% variable based on the Prime Rate
  • Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
  • Cash Advance APR: 30.24% variable based on the Prime Rate
  • Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
  • Annual Fee: $29
  • Foreign Transaction Fee: 3% of each transaction in U.S. dollars
  • Late Payment Penalty Fee: Up to $40
  • Return Payment Penalty Fee: Up to $40
  • Minimum Deposit Required: $300
  • You have poor credit and want to rebuild your credit score
  • You wish to earn 3% on dining, 2% at supermarkets, and 1% on other qualifying purchases you make
  • You eventually want to qualify for an unsecured credit card with an array of benefits and features

TD Cash Secured Credit Card Review

Qualifying for a rewards-rich credit card can be a tricky feat if financial missteps in the past have lowered your credit score. Fortunately, TD Bank makes the process much simpler, with the TD Cash Secured Credit Card.

The TD Cash Secured Credit Card is an enticing secured credit card in that it earns cash back rewards with every purchase. Cardholders enjoy 1% cash back on all purchases; a rewards rate on-par with some unsecured cards for bad credit – namely the Credit One Platinum Visa. However, the TD Card has an annual fee of $10 less than the Credit One card.

The cash back potential – and modest annual fee – are inviting perks for a secured card when similar cards in the same space have fewer benefits, if any.

TD Bank Account Required

Opening a TD Cash Secured Credit Card requires a bank account with TD Bank to fund the deposit. To get the TD Cash Secured Credit Card, interested individuals apply via the TD Bank website (link above). Once they successfully apply, they will need to go to a local TD Bank branch and open a savings account to fund their deposit.

The initial deposit must be a minimum of $300, which is tied to the savings account. The maximum deposit for the card is $5,000.

Chance at an Unsecured TD Bank Card in Just Seven Months

The TD Cash Secured Credit Card offers a handful of other benefits on the road to financial recovery that are sure to come in handy, including purchase protection against unauthorized charges and zero foreign transaction fees when using the card overseas or abroad.

Best of all, if you exhibit responsible financial behavior for seven consecutive billing cycles with this card, such as making payments on time and staying in good standing, TD Bank may upgrade the card to an unsecured credit card and return the deposit to the TD Bank savings account.

Should You Apply for the TD Cash Secured Credit Card?

Not many secured cards offer rewards, save for some unique options, like the Discover It Secured. The TD Cash Secured Credit Card is an excellent option, as it provides cash rewards with every purchase. Cash back on dining and groceries makes the card the perfect tool for everyday life, with the added attraction of repairing credit with on-time payments.

Using your TD Cash Secured Credit Card account can repair your credit in no time – with the added attraction of a shot at an unsecured TD Bank credit card, such as the TD First Class Visa Signature, in as little as seven months.

Related Article: What Are the Best Secured Cards for Building Credit?

For more information on repairing bad credit or secured credit cards in general, visit our Comprehensive Secured Card Reference Page, featuring the best-secured card offers, detailed advice, and tips to help you build your credit history.

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