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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 Clear Review
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:
|Predictable monthly payments||$45||$70|
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?
|Credit limits||$1,000 or $2,000||$500 to $25,000|
|Monthly fee||$10 or $20 ($120 or $240 annualized)||N/A|
|Minimum monthly payment||$45/$70||$5|
|No hidden fees||✔️||✔️|
|Rewards||No||Cash back, Bitcoin|
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:
|BestCards||Better Business Bureau||TrustPilot|
Should You Apply for the TD Clear Credit Card?
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.