TD Bank, popularly referred to as America’s Most Convenient Bank, has made a push in the credit card market by launching a new suite of credit card products. This includes the unveiling of two new types of credit cards and upgrades to existing customer favourites.
The new product offering is a strategic move by TD Bank to harness the growing momentum in the credit card space. This development introduces TD Clear, a no-interest credit card that charges a simple monthly fee – a pioneering concept in the U.S. market. Also introduced is TD FlexPay, touted as TD’s most flexible credit card yet, featuring increased payment flexibility and attractive balance transfer offers.
TD Bank is one of the top 10 largest banks in the U.S., serving over 9.9 million customers with a comprehensive range of retail, small business, and commercial banking products and services. With over 1,100 convenient locations spread across the Northeast, Mid-Atlantic, Metro D.C., the Carolinas, and Florida, TD Bank has earned its moniker, America’s Most Convenient Bank®. It also operates TD Auto Finance, offering vehicle financing and dealer commercial services, and TD Wealth®, providing customized private banking and wealth management services.
The newly introduced TD Clear is a subscription-based credit card that charges no interest, only a straightforward monthly fee. Customers can choose between a $10 monthly fee for a $1,000 credit limit or a $20 monthly fee for a $2,000 credit limit. The card guarantees transparency with no hidden fees, including foreign transaction fees, annual fees, cash advance fees, over-the-limit fees, returned payment fees, and interest charges.
TD FlexPay is designed to provide cardholders with increased flexibility, allowing them to schedule a Skip a Payment once a year. This card also provides late fee forgiveness on the first late payment every twelve months and features TD’s best balance transfer offer to assist cardholders with consolidating existing card balances.
In addition to launching new credit cards, TD Bank has also enhanced its existing TD Double Up and TD Cash credit cards. TD Double Up now offers 2% Cash Back on all purchases with no restrictions. TD Cash continues to offer flexible 3-2-1 rewards, allowing cardholders to customize categories quarterly to optimize their rewards.
Head of Consumer Products at TD, Matt Boss, said, “Customers are looking for clarity around credit to empower them to handle their finances with confidence. Our new cards, paired with our existing offerings, provide a solution for everyone.” Chris Fred, Head of Credit Cards and Unsecured Lending at TD, added, “Customers have told us that sometimes a single expense can mean the difference between being able to pay their bills. We want to offer people the flexibility they need in those moments.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global
