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While the intro APR offer is important, a good balance transfer card offers more than just that. The TD FlexPay Credit Card not only has a great intro 0% APR offer, it also has a low intro transfer fee, as well as some unusual extra features that could add a lot of value for some cardholders. We'll take a look at all this card has to offer -- and what it's missing -- in our detailed TD FlexPay Credit Card review.
3.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Rating image, 3.75 out of 5 stars.
3.75/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Credit Score:
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Credit Score
Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Good/Excellent (670-850)
Intro APR
Get our best balance transfer offer: 0% introductory APR on balance transfers for first 18 billing cycles after account opening. After that 18.24% - 28.24% variable APR based on your creditworthiness.
Balance Transfers: 0% for 18 billing cycles
Regular APR
18.24%, 20.24%, 23.24%, 26.24% or 28.24% (Variable)
Annual Fee
None
This is a very interesting option for people who need a balance transfer, and not just because of the intro APR -- though that's competitive, and the promotional transfer fee is nice. The extra features, like late fee forgiveness, could also be very valuable to people battling credit card debt.
Intro 0% APR on balance transfers
Late fee forgiveness
No annual fee
No purchase rewards or bonus
Intro APR doesn't apply to purchases
Foreign transaction fee
Get built-in flexibility with the TD FlexPay Credit Card
Our best balance transfer offer
Get Visa benefits like cell phone protection when you pay your monthly mobile bill with your card
No annual fee
Must be a resident of CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA or VT.
Credit card comparison
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash back on rotating categories
Discover will match all the cash back you’ve earned at the end of your first year.
1% - 5% Cashback
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for cash rewards on everyday spending
$200 cash rewards
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
2% cash rewards
Earn unlimited 2% cash rewards on purchases.
Intro:
0% intro APR for 12 months from account opening on purchases and qualifying balance transfers
Purchases: 0% intro APR, 12 months from account opening
Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Best for unlimited rewards on purchases
25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
1.5-3 points per dollar
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
Intro:
0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers
may not be used to pay any account provided by Bank of America.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
This credit card is a good fit for: Folks who want to use a balance transfer to pay down existing credit card debt.
Top perks
The list of perks for this card is fairly long and includes some unusual features.
Intro 0% APR offer for balance transfers
Arguably, the heart of this card for many users will be its intro 0% APR offer for balance transfers. New cardholders enjoy 0% APR on balance transfers for the first 0% for 18 billing cycles after opening their account. (After that, the go-to APR applies.)
Unlike most cards with intro offers, this one gives you lots of time to transfer balances, too; you can transfer any time during the intro period. Some cards require you to transfer balance within the first 30 to 45 days to get the intro rate, which can be limiting.
Late fee forgiveness waives first late payment fee
One of the more unusual perks of this card is the late fee forgiveness. Essentially, TD Bank will refund the late payment fee once a year on the first late payment. This could be a really nice feature if you're prone to occasionally forgetting to pay on time and don't want to set up automatic payments.
Keep in mind that if you are more than 30 days late on your card payment, the issuer may report that account as delinquent to the credit bureaus whether you're charged a late fee or not.
No annual card fee
This card is all about making it easier to deal with your card debt. So it makes sense that it doesn't charge an annual fee. That way, you're not stuck paying an extra fee just to keep your card account open. It's especially nice because this card doesn't have a lot of long-term features, so you probably won't use it much after the intro offer expires. Without a fee, you can leave the card open and won't need to worry about paying for it every year
What could be improved
Although this is a good card, it's not perfect; here's what we'd like to see improved.
No purchase rewards or welcome bonus
A big drawback to this card is that there aren't any kind of rewards. You don't earn rewards on purchases, and you don't get any kind of welcome bonus of rewards. Given that the big feature of this card -- the intro APR on balance transfers -- is limited in duration, the card loses most of its value once that offer expires. Without purchase rewards, there's little reason to keep using this card after you pay off your balance transfer.
Intro APR offer doesn't apply to new purchases
Although this card seems to be well-suited as a balance transfer card, that's about it. Because the 0% APR introductory offer doesn't extend to new purchases, you won't be able to use this card for much beyond the transfers. If you do need to put new purchases on your TD FlexPay Credit Card, be sure to pay it off in full before the due date so you aren't charged interest.
Foreign transaction fees
No matter when you plan to pay off your card, avoid using it when you travel. It charges a foreign transaction fee of 3% of each transaction in U.S. dollars. This extra fee is charged by some cards for purchases in another currency or that routes through a foreign bank. Keep this card for your balance transfers, but find a card with no foreign transaction fees if you plan to travel abroad.
Suggested credit score
The TD FlexPay Credit Card is issued by TD Bank, which is considered by many to be somewhat strict in its approvals. In general, you want at least good credit before applying for a TD Bank-issued card, though an excellent credit score or higher might be better.
The TD FlexPay Credit Card is right for you if:
If you're dealing with high-interest credit card debt and want a balance transfer, this card could be a good option, especially if you have excellent credit. The intro APR is competitive and comes with a lower transfer fee, plus the late fee forgiveness is a potentially useful feature.
Folks with less established credit or a lower income may not get approved, or may receive a lower credit limit than is helpful. In that case, check out our credit card reviews for more options.
Our credit card methodology
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
FAQs
TD Bank is considered a somewhat strict issuer, and it may be hard to qualify for its cards if you don't have a good payment history. Additionally, reports suggest you may need a higher income and/or a previous relationship with the bank to get a high credit limit.
Yes, TD Bank's mobile app seems to be a decent bank app. It has 4.2 and 4.8 stars in the Google Play Store and App Store, respectively. Its interface is clean and easy to navigate. The app has all the features you'd expect to find, including the ability to see all of your card transactions and pay your monthly bill.
The easiest way to get a credit limit increase is to do nothing; TD Bank is known to occasionally increase your credit limit without notice. However, you may also request a credit limit increase through your online account or over the phone. Reports suggest that TD Bank will run a hard credit pull if you request a credit limit increase.
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