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Is this a good card?

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SouthJamaica
Mega Contributor

Re: Is this a good card?


@Anonymous wrote:

Hey All,

I've never received anything from this lender before. TD Bank. Earn $200 when you spend $500 in first 90 days. 2% on dining. 1% all purchases. No annual fee. Anyone have any TD bank credits cards? Is this a good card to have?

 

Edit:
To clarify, I received a mailer which is the first I've ever received from them.


1. It's not easy to get approved.

2. Most people think it's an ok card, nothing special. Many people get it for the $200 opening offer, then sockdrawer it.

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 11 of 18
Anonymous
Not applicable

Re: Is this a good card?

AJC, one month from Christmas, bonus definitely attractive, but you're right. Save the pull and all.
Message 12 of 18
longtimelurker
Epic Contributor

Re: Is this a good card?


@Anonymous wrote:
AJC, one month from Christmas, bonus definitely attractive, but you're right. Save the pull and all.

As others have said, good is subjective, you already had most of the info you appear to need:

 

1) The bonus: $200 for $500 spend is fine, but $200 for a card you probably will never use may not be worth the HP and new account

2) Reward structure is very meh:  there are 2% everywhere cards which are clearly better than this (and LOTS of 1.5% everywhere cards)

 

So it's only if you really value things like high starting limit, ease of CLIs and APR reductions that you need input.   And I don't think TD does anything special on any of these.

Message 13 of 18
Anonymous
Not applicable

Re: Is this a good card?

@longtimelurker

Okay. Thank you. That's helpful. Won't be going for this.

Thanks All!
Message 14 of 18
wilmer007
Contributor

Re: Is this a good card?

there are way better cards out there.

 

 

here's a list to look at:

 

Highly Recommended Cards:

the recommend cards are based on year round spending, not 3-6 months of the year

  • American Express Blue Cash Preferred = unlimited 3% on gas and department stores (6% on groceries capped at $6,000 yearly spending)

  • Penfed Platinum Cash Rewards = unlimited 5% on gas if plus, 3% non plus

Alternative Cards:

  • BankAmericard Cash Rewards = 3% on gas, 2% on groceries, 1% everything else

  • American Express Blue Cash Every Day Card = 3% Cash Back at U.S. supermarkets, up to $6,000 per year in purchases (then 1%); 2% cash back at U.S. gas stations; 2% Cash Back at select U.S. department stores; and 1% Cash Back on other purchases.

Everyday Spending:

these cards are good for not only gas but any other purchase aswell

  • Citi Double Cash Card = 2% on all purchases

  • Fidelity Rewards Visa Signature Card = 2% on all purchases

  • Chase Freedom Unlimited = 1.5% on all purchases

  • Wells Fargo Cash Wise Visa = 1.5% on all purchases

  • Capital One Quicksilver Cash Rewards Credit Card = 1.5% on all purchases

  • Barclaycard CashForward World MasterCard = 1.5% on all purchases

  • Wells Fargo Propel American Express Credit Card = 3x on gas, 2x at restaraunts, 1x everything else

  • Barclaycard Rewards MasterCard = 2X points on gas, utility and grocery store purchases (excluding Target and Walmart and 1X points on all other purchases.


*****|$15,200|********|$13,500|***********|$5,000|*********|$25,000|***********|$500|
Highest Scores: Transunion 08: 821 | Equifax VantageScore 3.0: 780 | Experian 08: 804 | gardening until May 2018 or longer.
Message 15 of 18
Anonymous
Not applicable

Re: Is this a good card?

Hi wilmer,

Thx for the list. I'm pretty knowledgeable about what is out there and the reward systems. I was more interested in knowing about TD as a lender and the info that longtimelurker provided. Was interested in knowing where TD was in the sceme of things. Thanks tho
Message 16 of 18
lg8302ch
Senior Contributor

Re: Is this a good card?

For me a good card is a card that matches my spending pattern with their  reward setructure and that I plan to keep long term.  When I apply for a card I would lie if I would say I am not looking at the sign up bonus but even with a nice bonus I would not apply for a card that I know I am not going to keep for a while.  So far I do not have any closed accounts on my report.

Message 17 of 18
Credit_hawk
Established Contributor

Re: Is this a good card?

It's not a bad card. The bonus is pretty good but the benefits are lacking after the bonus. As far as the bank, TD is far from a bad bank. It's the second biggest bank in Canada and in the top 10 in America. TD stands for Toronto-Doninion bank. They're huge on the east coast where I'm from.

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 18 of 18
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