TD Bank Secured

[jonnyc]

I'm looking to close my Primor and OpenSky in the next few months and I began looking for a secured card to replace them with, specifically one that would graduate. I opted for the TD Bank secured card since it seems to be eligible to graduate at 7 months and also earns rewards. Also since the Target RedCard is issued by TD, I felt that my history with it might help around graduation time. I called in to find out if they had any bankruptcy time frame, which they said they did not. So this afternoon I went into a branch to apply, now just have to wait 7-10 days to find out if it was approved. If the app does get approved I have to go back and deposit funds within 15 business days. Really hoping this all works out. Just looking for any insight/advice or experiences with this card, whether you had a BK on file or not.

[pinkandgrey]

I’m sorry to not really answer your question, but have you tried Capital One’s Platinum card? You might be able to get that one unsecured. It is designed for poor and rebuilding credit and I was able to get it back when I had basically no credit history at all. 

[jonnyc]

Haha yes, I already know about cap one. I’m blacklisted until December

[Anonymous]

Hi @jonnyc, 

I can answer your question from personal experience: 

I have had a secured TD Cash Rewards with $1,500 CL for 8 months, and it is now graduating to the regular, non-secured version of the same card. TD does most things per standard. Between 7th and 8th month is where their system sends you a notice in the mail that the CC will be graduating in 30 days. I spoke with customer service, and they said I can ask for a CLI right after graduation; however, the APR will go down over time, slowly, and again, per system standards (i.e. there's no individual negotiating your APR with anyone). 

I have also been with TD Bank for 5+ years as a customer - it's not the most known bank in the U.S., but it's a top 5 bank in Canada ("TD" = Toronto Dominion), and a top 20 bank in the world. Their U.S. motto is "America's most convenient bank", and they're not joking - I have been able to get their customer service 24/7, including 3am, Christmas, all CSRs are based in North America, and they've always resolved my issues. 

[Anonymous]

Almost forgot - one detail in my story with TD that's different than yours: 

When I was applying for my secured CC with TD, I did it at the branch, and they put my $1,500 collateral into a savings account and froze that amount right away, before we submitted my application for the secured CC. So I don't know if that makes a difference, but to me it wasn't a surprise when TD's credit department called me to tell me I was approved for a CC that I had already put money down, LOL!  

[Anonymous]

Just recently got my td secured card upgraded.
Exactly after the 8th billing cycle. The td cash secured card is one of the best..underrated if you ask me..3% on restaurant...2% gas..1% all other is worth the $29 annual fee. They even give a prorated annual fee refund once the upgrade. The unsecured version allows authorized users ...the td secured does not. Hope this was helpful!

[spiritcraft1]

---

@Anonymous wrote:
Just recently got my td secured card upgraded.
Exactly after the 8th billing cycle. The td cash secured card is one of the best..underrated if you ask me..3% on restaurant...2% gas..1% all other is worth the $29 annual fee. They even give a prorated annual fee refund once the upgrade. The unsecured version allows authorized users ...the td secured does not. Hope this was helpful!

---

Congrats.  That looks like a very good secured card with that particular rewards structure.  Having it unsecure to their no fee regular rewards card is awesome.  I had found that one via search but it seems to be a regional offering since you have to apply in branch though.  Anyone in need of a secured who can get this card rather than a bottom feeder card should definately consider it.  It is right up there with NFCU and Discover.

[jaxstraw]

Any update on asking for the CLI when it unsecured ?

I have the exact same CL on the secured card (4 months since opened) and was wondering the outcome.

[Hockeypnc1]

Seems like a good card! 

I have my stocks account with them, I wonder if that helps at all?

[jaxstraw]

TD Bank and TD Ameritrade while under the same shield are different entities.

So having a TD Ameritrade account wouldn't help with getting a TD Bank CC.

TD Ameritrade has a Client's Rewards CC but it is a fairly hard card to get I believe.