topic Re: TD Bank secure graduation is going to be in Credit Cards

TD Bank secure CC graduation - Yes!

Anonymous — Fri, 31 Jul 2015 15:26:11 GMT

I just found these changes in TD Bank's agreement:

(My 7th bill cut is coming in 2 weeks, so will see...)

C. Eligibility for an Unsecured Card.

If you use and maintain a Credit Card Account for 7 consecutive Billing Cycles without committing an act of default pursuant to the Agreement you may be eligible to graduate to an unsecured TD Bank credit card automatically. This means that your savings account that secured the credit card will be released so you will have access to these funds. Upon graduation, a prorated refund of the annual fee will be given to you and it will appear on a subsequent monthly statement. Your credit limit and your APR will remain the same. Your account will automatically be reviewed once you meet the threshold eligibility requirements. If you are not graduated at your first review, your account will automatically be reviewed on an ongoing monthly basis thereafter to determine if you have become eligible for an unsecured account. If you meet the requirements you will be notified of the impending automatic graduation and you will have the opportunity to opt out of the graduation and maintain your secured account by calling Customer Service at 1-888-561-8861. If you chose to keep your secured account, you will have to complete a new application to be considered for an unsecured card in the future. All other terms and conditions remain the same.

Re: TD Bank secure graduation is going to be

sjt — Sat, 30 May 2015 20:09:15 GMT

@Anonymous wrote:
I just found these changes in TD Bank's agreement:
(My 7th bill cut is coming in 2 weeks, so will see...)

C. Eligibility for an Unsecured Card.
If you use and maintain a Credit Card Account for 7 consecutive Billing Cycles without committing an act of default pursuant to the Agreement you may be eligible to graduate to an unsecured TD Bank credit card automatically. This means that your savings account that secured the credit card will be released so you will have access to these funds. Upon graduation, a prorated refund of the annual fee will be given to you and it will appear on a subsequent monthly statement. Your credit limit and your APR will remain the same. Your account will automatically be reviewed once you meet the threshold eligibility requirements. If you are not graduated at your first review, your account will automatically be reviewed on an ongoing monthly basis thereafter to determine if you have become eligible for an unsecured account. If you meet the requirements you will be notified of the impending automatic graduation and you will have the opportunity to opt out of the graduation and maintain your secured account by calling Customer Service at 1-888-561-8861. If you chose to keep your secured account, you will have to complete a new application to be considered for an unsecured card in the future. All other terms and conditions remain the same.

That is good news news.

Does it it report as secured and what is the maximum deposit.

Re: TD Bank secure graduation is going to be

Anonymous — Fri, 05 Jun 2015 16:02:45 GMT

Yes, it does. My card's deposit is $5000 (it was max allowable deposit when I open it).

Re: TD Bank secure graduation is going to be

Anonymous — Tue, 14 Jul 2015 23:26:29 GMT

Just got a letter from TD Bank (after 8th bill cut):

"Congratulations! You have earned an upgrade to unsecured credit card!"

CL and APR are the same, no AF (they're going to return prorated statement credit for AF), it looks like CC number is going to be changed - they sent me new card and asked to update all automatic payments by this CC. My deposit is promised to be released in a week after I get the CC.

Is it going to be visa platinum (currently) or siggy (it should be with my current CL) - will see.

Re: TD Bank secure graduation is going to be

sjt — Tue, 14 Jul 2015 23:28:27 GMT

Congrats!

Are they going to give you a brand new account or converting it

Re: TD Bank secure graduation is going to be

taxi818 — Tue, 14 Jul 2015 23:33:24 GMT

Congrats. I canceled this puppy last november when i realized that the Td bank offices south of the border. had to call canada for all information. I actually opened a secured Td bank card in November 2013. was told it would graduate after 6 months.After talking to the offices in canada they said. no , we will review after 2 years and you maybe be eligible to apply at that time.

I said to my self. what the hell. in 2 years no way will i need you. so at the 1 year anniversary, I canceled it as the rewards were terrible. 1percent across the board. and 2500 to redeem for statement credit. But good luck to you holding on to it. really with a 5k limit that is outstanding. I only had $500 on deposit and gladly took my money back. I know the local branch manager by first name. and she said. well at least we helped you get into amex and the other cards i see on your report. I said what. you helped me?. really. i just started laughing.

Re: TD Bank secure graduation is going to be

Anonymous — Tue, 14 Jul 2015 23:33:30 GMT

Probably they are going to convert current account, but who knows - I'm waiting for the CC with a bunch of papers to know for sure.

Re: TD Bank secure graduation is going to be

Anonymous — Tue, 14 Jul 2015 23:43:26 GMT

@taxi818 wrote:
Congrats. I canceled this puppy last november when i realized that the Td bank offices south of the border. had to call canada for all information. I actually opened a secured Td bank card in November 2013. was told it would graduate after 6 months.After talking to the offices in canada they said. no , we will review after 2 years and you maybe be eligible to apply at that time.
I said to my self. what the hell. in 2 years no way will i need you. so at the 1 year anniversary, I canceled it as the rewards were terrible. 1percent across the board. and 2500 to redeem for statement credit. But good luck to you holding on to it. really with a 5k limit that is outstanding. I only had $500 on deposit and gladly took my money back. I know the local branch manager by first name. and she said. well at least we helped you get into amex and the other cards i see on your report. I said what. you helped me?. really. i just started laughing.

Actually I was going to cancel it in 1-2 months right before next AF.

I applied for it in last October and was waiting almost 2 months for approval and receiving it. I applied for Amex and CapOne after, but got them before I get TD Bank CC.

Re: TD Bank secure graduation is going to be

taxi818 — Tue, 14 Jul 2015 23:48:33 GMT

@Anonymous wrote:
@taxi818 wrote:
Congrats. I canceled this puppy last november when i realized that the Td bank offices south of the border. had to call canada for all information. I actually opened a secured Td bank card in November 2013. was told it would graduate after 6 months.After talking to the offices in canada they said. no , we will review after 2 years and you maybe be eligible to apply at that time.
I said to my self. what the hell. in 2 years no way will i need you. so at the 1 year anniversary, I canceled it as the rewards were terrible. 1percent across the board. and 2500 to redeem for statement credit. But good luck to you holding on to it. really with a 5k limit that is outstanding. I only had $500 on deposit and gladly took my money back. I know the local branch manager by first name. and she said. well at least we helped you get into amex and the other cards i see on your report. I said what. you helped me?. really. i just started laughing.
Actually I was going to cancel it in 1-2 months right before next AF.
I applied for it in last October and was waiting almost 2 months for approval and receiving it. I applied for Amex and CapOne after, but got them before I get TD Bank CC.

That was the exact experience i had. i apped in november 2013. but did not get the card until january 2014. damn. Congrats on getting your new card with them. I still bank with them. But they are just too conservative for me. as you can see from my signature. i moved on to bigger and better things. but im not mad at them. they were my first and even though it is closed. It is still my oldest account according to my credit report.so its giving me a boost. 10 years to stay on my report. At this point. another 9 years. outstanding.

Re: TD Bank secure graduation is going to be

Anonymous — Wed, 29 Jul 2015 11:39:29 GMT

Update - I just logged into my account and found some changes - returned AF for the rest of the year and changed card name to 'TD Easy Rewards Visa Signature' (It was Visa Platinum before).

Re: TD Bank secure graduation is going to be

CostantinoA — Wed, 29 Jul 2015 19:03:34 GMT

How did you apply for a secured card? I do not see it on their web site.... thanks

Re: TD Bank secure graduation is going to be

taxi818 — Wed, 29 Jul 2015 19:12:08 GMT

It's not online. You have to go in branch. Minimum to open. $500.

Re: TD Bank secure graduation is going to be

Anonymous — Fri, 31 Jul 2015 18:06:36 GMT

@taxi818 wrote:
It's not online. You have to go in branch. Minimum to open. $500.

Yes, it is.

ps. my security deposit is unfrozen, so my TD Bank Easy Revards Visa Signature is officially unsecured.

(pps. I meant It is not online - need to go in branch)

Re: TD Bank secure graduation is going to be

sjt — Fri, 31 Jul 2015 17:42:42 GMT

@Anonymous wrote:
@taxi818 wrote:
It's not online. You have to go in branch. Minimum to open. $500.
Yes, it is.

ps. my security deposit is unfrozen, so my TD Bank Easy Revards Visa Signature is officially unsecured.

No, secured card applications are not available online. You have to go into a branch and apply.

Congrats on the graduation and on getting the Siggy Card!

Re: TD Bank secure CC graduation - Yes!

Gardenhand — Tue, 04 Aug 2015 01:06:23 GMT

Hey about the graduation process, did the prorated refund come at the same time as the statement cut? I ask because I'm near the end of my never ending mortgage process and I'm trying to keep my minimum payment as low as possible for dti reasons. I to got the graduation letter and I'm trying to predict wether the refund is coming at the statement cut date. The rep I talked to did not know.

Re: TD Bank secure CC graduation - Yes!

Anonymous — Thu, 06 Aug 2015 20:23:08 GMT

They did it about 8 days before the statement cut.

Re: TD Bank secure CC graduation - Yes!

Anonymous — Thu, 06 Aug 2015 23:46:37 GMT

And finally - I got new TD Bank CC in the mail today.