topic Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back in Credit Cards

New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Anonymous — Mon, 22 Mar 2021 15:56:43 GMT

Was browsing around and I noticed TD Bank came out with a new Credit Card today:

https://www.td.com/us/en/personal-banking/credit-cards/

TD Double Up Card

Earn 2% Cash Back: 1% when you buy and 1% when you redeem into an eligible TD Bank Deposit Account

Earn $75 Cash Back in the form of a statement credit when you spend $500 within the first 90 days after account opening

Earn unlimited Cash Back – no rotating categories, no caps or limits as long as your credit card account is open and in good standing

No annual fee*

Was looking more at this card, there's a 3% FTF, and it is a Visa Signature. I guess they are doing this to get more people to bank with them. SUB isn't too bad for a 2% card at all.

I know they mostly use Experian and they are conserative on lending. Also, I think they are limited to east cost states only for who can apply for this card. I guess good card for those who currently do business with TD or was maybe thinking about them. I'm happy with my PayPal Mastercard, but I guess more 2% cards the better?

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

coldfusion — Mon, 22 Mar 2021 16:10:36 GMT

Yes they are fairly conservative, they are relatively sensitive to inquiries and new accounts, unless they've implemented recent changes their decision-making process for applications is glacial, and they don't recon.

I'll also mention that they have current promotions in play if one wants to get the card and needs an account to collect that extra 1%. https://checkingbonus.tdbank.com/Digital500.html

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

blindambition — Mon, 22 Mar 2021 21:01:38 GMT

@coldfusion wrote:

Yes they are fairly conservative, they are relatively sensitive to inquiries and new accounts, unless they've implemented recent changes their decision-making process for applications is glacial, and they don't recon.

I'll also mention that they have current promotions in play if one wants to get the card and needs an account to collect that extra 1%. https://checkingbonus.tdbank.com/Digital500.html

+100

It will be interesting to see approval ratio, and what sort of limits given.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Anonymous — Mon, 22 Mar 2021 22:14:37 GMT

I was approved for the Cash card living out of state. The app said to "call in" when I put in my address. The rep was able to process my application and I was approved. This was over a year ago. Doesn't hurt to call in if you are out of state and have a TD account (since that's where the value is in the reward program).

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Anonymous — Mon, 22 Mar 2021 23:08:11 GMT

SUB is OK, but not sure of the attraction otherwise. There are a number of "straight" 2% cards that give 2% on purchase, and have a lower or 0 FTF.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Anonymous — Tue, 23 Mar 2021 15:55:07 GMT

TD Is ridiculously conservative. I would NOT apply for this account, or any of their products if you want a high/use-able CL. I'll watch the datapoints, but wont be applying.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

FinStar — Tue, 23 Mar 2021 16:55:28 GMT

@Anonymous wrote:
TD Is ridiculously conservative. I would NOT apply for this account, or any of their products if you want a high/use-able CL. I'll watch the datapoints, but wont be applying.

@Anonymous to a certain extent they are. It's apparent there are sour grapes here, but TD Bank is not the kind of FI that would dish out a $25K SL to a profile that already has excessive available unsecured credit in their eyes, especially in today's lending and economic environment, unless you have (a) very high income, (b) high investments or depository relationship with them, and (c) long history with TD Bank.

That said, to the appropriate or right-sized profile, TD Bank can be generous.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Aspireto850 — Wed, 24 Mar 2021 17:09:18 GMT

@Anonymous

Nice cash back

I thought TD mostly used Equifax?

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Horseshoez — Wed, 24 Mar 2021 17:53:01 GMT

@Aspireto850 wrote:
@Anonymous

Nice cash back
I thought TD mostly used Equifax?

I opened my TDCash card last June and they hit Experian exclusively.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

pinkandgrey — Wed, 24 Mar 2021 20:23:45 GMT

Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Credit12Fico — Wed, 24 Mar 2021 20:48:11 GMT

@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.

If you bank with TD Bank?

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Horseshoez — Wed, 24 Mar 2021 21:25:57 GMT

@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.

I'm not entirely sure what a DC and a PPMC are, but opting for any of the cards offered by TDBank are pretty convenient if you live near a branch, especially if you already bank with them (as I do).

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

FinStar — Wed, 24 Mar 2021 22:26:10 GMT

@Horseshoez wrote:
@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.
I'm not entirely sure what a DC and a PPMC are, but opting for any of the cards offered by TDBank are pretty convenient if you live near a branch, especially if you already bank with them (as I do).

DC = Citi Double Cash MC

PPMC = PayPal 2% Cashback MC

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

coldfusion — Wed, 24 Mar 2021 23:19:40 GMT

@Horseshoez wrote:
@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.
I'm not entirely sure what a DC and a PPMC are, but opting for any of the cards offered by TDBank are pretty convenient if you live near a branch, especially if you already bank with them (as I do).

That touches on what one of the significant differentiators with TDBank has traditionally been; the number of hours per week their branches are open including on Sundays.

It used to be that you needed a different online account to manage your TD credit card(s) vs your other personal banking services. Is that still true?

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Anonymous — Wed, 24 Mar 2021 23:46:00 GMT

@Horseshoez wrote:
@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.
I'm not entirely sure what a DC and a PPMC are, but opting for any of the cards offered by TDBank are pretty convenient if you live near a branch, especially if you already bank with them (as I do).

If your scores are "OK" that really shouldn't matter too much! It's pretty trivial to apply for (most) credit cards online, and get better ones that those offered by local institutions. And for some purposes, online banks will offer advantages over local banks for day to day checking anyway.

As @coldfusion says though, TD is an exception in some ways, with Sunday hours, and I do indeed have a TD bank account! But I wouldn't get one of their cards, or put savings there etc. One of the many good things about the internet is that it has made lots of things more accessible, and makes unbundling much easier, I can get credit cards, investments, checking and savings from widely different places if that has an advantage.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Horseshoez — Thu, 25 Mar 2021 00:13:54 GMT

@coldfusion wrote:
@Horseshoez wrote:
@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.
I'm not entirely sure what a DC and a PPMC are, but opting for any of the cards offered by TDBank are pretty convenient if you live near a branch, especially if you already bank with them (as I do).
That touches on what one of the significant differentiators with TDBank has traditionally been; the number of hours per week their branches are open including on Sundays.

It used to be that you needed a different online account to manage your TD credit card(s) vs your other personal banking services. Is that still true?

Nope, my wife and I work with "Vicki" to manage all of our accounts and our credit cards.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Horseshoez — Thu, 25 Mar 2021 00:15:40 GMT

Some presume Citi and PayPal cards can be had by most, apparently I'm not most; cannot get approved for either.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

pinkandgrey — Thu, 25 Mar 2021 13:18:57 GMT

@Credit12Fico wrote:
@pinkandgrey wrote:
Nice. However, it's kind of a mystery to me why one would choose a card like this over a DC or PPMC.
If you bank with TD Bank?

Yeah, if you have a relationship with them I suppose. But still, the DC and PPMC don't have the requirement to deposit into a specific account. Of course, if you already have an account with TD (like you're saying), then I guess it's a wash.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Wavester64 — Thu, 25 Mar 2021 16:57:50 GMT

@Anonymous wrote:
TD Is ridiculously conservative. I would NOT apply for this account, or any of their products if you want a high/use-able CL. I'll watch the datapoints, but wont be applying.

They also do not do auto-CLI increases either it seems.

I have had the card since October '19, considerable spend especially the last 6-months, no CLI offers.

Not to mention there is no "luv botton" online either to request a CLI.

Re: New TD Bank Credit Card: TD Double Up Card 2% Cash Back

Horseshoez — Thu, 25 Mar 2021 17:19:35 GMT

Maybe it's just me, but I think folks get way too hung up about CLIs; my TDCash card started at $5,000 and if it never goes up a penny, I'm good with that.