The TD Rewards Cardholder Agreement: Understanding the Fine Print
If you are a TD Rewards credit cardholder, it is essential to understand the terms and conditions of your cardholder agreement, including the fees, interest rates, and penalties that may apply. This knowledge can help you avoid costly mistakes and manage your finances more effectively.
Here is an overview of the TD Rewards cardholder agreement:
Annual Fees
The TD Rewards Visa Card has an annual fee of $89, while the TD Rewards Visa Infinite Card has an annual fee of $120. These fees are charged on a yearly basis, and they are non-refundable.
Interest Rates
The interest rates on the TD Rewards Visa Card and TD Rewards Visa Infinite Card vary depending on the type of transaction:
– Purchases: 19.99% (TD Rewards Visa Card) or 20.99% (TD Rewards Visa Infinite Card)
– Cash Advances: 22.99%
– Balance Transfers: 22.99%
It is important to note that interest is charged from the date of the transaction until the balance is paid in full.
Minimum Payment
The minimum payment required on your TD Rewards credit card is either 3% of the outstanding balance or $10, whichever is greater. Failure to make the minimum payment by the due date can result in a late payment fee.
Late Payment Fee
If you do not make your minimum payment on time, you will be charged a late payment fee of up to $39, depending on your card type and the amount of your outstanding balance.
Over-Limit Fee
If you exceed your credit limit, you will be charged an over-limit fee of up to $25, depending on your card type.
Foreign Transaction Fees
When you use your TD Rewards credit card outside of Canada, you may be charged a foreign transaction fee of 2.5% of the Canadian dollar amount of the transaction. This fee is charged regardless of whether the transaction was made in a foreign currency or Canadian dollars.
Balance Transfer Fees
If you transfer a balance to your TD Rewards credit card, you may be charged a balance transfer fee of 3% of the amount transferred, up to a maximum of $10.
Cash Advance Fees
When you take a cash advance on your TD Rewards credit card, you may be charged a cash advance fee of either $3.50 (TD Rewards Visa Card) or $5 (TD Rewards Visa Infinite Card), plus a interest rate of 22.99%.
In Summary
As a TD Rewards credit cardholder, it is important to read and understand the terms and conditions of your cardholder agreement. This knowledge can help you manage your finances more effectively and avoid costly mistakes. If you have any questions or concerns about your TD Rewards credit card, be sure to contact TD customer service for assistance.