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Advertiser Disclosure – BestCards is an independent, Florida-based credit card comparison platform. Many of the card offers that appear on this site are from companies from which BestCards receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). BestCards does not include all card companies or all card offers available in the marketplace.
Editorial Disclosure – The opinions expressed on BestCards’ reviews, blogs, and all other content on or relating to the website are solely those of the content’s author. They are not reflective of any card issuer or financial institution and have not been reviewed or approved by these entities unless otherwise noted. Further, BestCards lists credit card offers that are updated daily with information believed to be accurate to the best of our knowledge.
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TD Clear
At a
Glance
The TD Clear Visa Platinum is a credit card with a difference. Instead of paying a variable interest rate on purchases, TD charges no interest at all, instead offering a simple monthly fee.
Best Benefits
Rates & Fees
Why Should You Apply?
A credit card with no interest, just a simple monthly fee
No hidden fees, including no balance transfer fees or foreign transaction fees
Enjoy Visa benefits like cell phone protection, emergency card replacement, and Visa Zero Liability
Intro Balance Transfer APR:
N/A
Minimum Deposit Required:
N/A
You want a credit card with a simple, straightforward pricing structure
You aren't interested in rewards - just a great low rate
You want basic Visa protections like cell phone protection or Zero Fraud Liability
TD Bank hails the TD Clear Visa Platinum credit card as first of its kind in the US market. The card differs from other balance transfer credit cards in that it charges no interest charges, instead opting for a simple, predictable minimum monthly payment and flat monthly fee.
Two Products, Two Payment Choices
The TD Clear is a subscription-based Visa credit card with no APR—just a straightforward monthly fee. Clear cardholders pay a monthly subscription fee and another charge based on the amount of the credit line they use. This charge and the subscription fee combine into something TD Bank terms “predictable minimum payments.”
Clear is unique because TD Bank customers can select from two products. Each product comes with a different credit limit and, as such, a different monthly service fee:
Credit limit
$1,000
$2,000
Monthly fee
$10
$20
Predictable monthly payments
$45
$70
Card Comparison
This unique repayment structure of the Clear Visa Platinum reminds of another product that blurs the lines between credit cards and personal loans: the Upgrade Cash Rewards Visa®. That card also provides installment plans of 12, 24, 36, or 60 months based on creditworthiness. How do the two cards stack up?
The unique structure of the TD Clear Card doesn’t just apply to no APR. The card is free from many of the hidden fees consumers hate with credit cards. Clear cardholders pay no fees on balance transfers, cash advances, late payments, or returned payments. Even better, there is no foreign transaction fee when using Clear abroad or on a foreign website.
Available to Canadians Residents in the US
One of TD Bank’s great features is that it is available to some non-US citizens. For example, Canadian residents in the United States can apply for the Double Up Visa and have their TransUnion Canada credit score used for consideration.
While this feature is very niche, it is of considerable value for Canadians who travel for business, have family in the US, or are retirees (snowbirds) that want a US credit card while south of the Canadian border.
Other Card Features
TD Clear cardholders also enjoy cell phone protection when using their card to pay their cell phone bill. Mobile phone protection is just one of the many protections and benefits that come from the Visas Platinum network, including the following:
Zero Fraud Liability
Cardholder Inquiry Services
Emergency Card Replacement
Roadside Dispatch and Auto Collision Damage Waiver
Lost/Stolen Card Reporting
ID Navigator from Norton
TD Bank Ratings
How does TD Bank rate as a lender? Here is a selection of expert reviews for the bank and its credit card products:
The TD Clear is a unique credit card for those that want simplicity and predictability. Removing interest rates for a predictable minimum payment is a great feature, as even the largest credit limit provides an estimated payment of $70 per month – a very reasonable amount. If you want a no-fuss credit card without hidden fees, this might just be your next credit card.
But the Clear does have some flaws, not least of which is the lack of a rewards program. Sure, the other cards in the TD Bank credit card lineup make up for this shortcoming. However, it’s still a nice to have – and especially so as Upgrade provides three distinct reward options for cardholders: Bitcoin, enhanced cash back, and unlimited cash back.