TD Bank’s Credit Cards and Other Resources Aimed at Giving Customers Financial Stability

In a Nutshell: It’s safe to say that 2020 has brought a lot of surprises to folks around the world, and the U.S. is no exception. Besides the obvious health challenges, the COVID-19 pandemic also delivered unprecedented economic challenges. Luckily, institutions like TD Bank have remained resilient for their customers. The bank, which has always branded itself as a customer-oriented and convenient institution, provides a credit card suite — that ranges from secured credit cards with rewards to appealing business cards — suitable for nearly anyone. The institution also focuses on educating customers on a wide variety of financial topics either through its website or in person — face-to-face or over the phone. TD Bank also prioritized helping its customers weather the challenges of COVID-19 with a number of financial relief options.

Consumers deciding which bank to do business with may not realize the wide range of choices they have available to them these days. My parents and grandparents chose their banks based on how close the financial institutions were to where they lived and worked.

With the internet, mobile banking technology, and partner networks, a bank’s physical location is a far less important factor than it once was. In addition to the large commercial banks, there are also smaller mutual savings banks and credit unions to consider.

Each of these comes with its own pros and cons, but what about a large national bank that believes in the customer-oriented approach and community values of its smaller counterparts?

That’s where TD Bank comes in.

“TD Bank, America’s Most Convenient Bank® is one of the 10 largest banks in the U.S., with over 27,000 employees and deep roots in the community dating back more than 150 years,” according to the institution website.

TD Bank takes its convenience philosophy to heart, with weekend hours, a dog-friendly lobby policy, and a special focus on customer service. It also demonstrates support for the communities in which it operates through volunteerism, sponsorships, and donations.

Of course, here at CardRates, we’re also interested in TD Bank’s credit card offerings and other financial services. So we asked Jason Thacker, Head of Credit Cards and Unsecured Lending, to fill us in on the bank’s cards and other offerings.

Thacker discussed TD Bank’s suite of credit cards and how it can benefit a wide range of budgets, lifestyles, and preferences.

He said the bank’s most popular card is its TD Cash Credit Card.

“The lion’s share of customers choose that when they’re looking for a card,” Thacker said. “If you think about its value proposition, it’s very much structured on providing great value for consumers where they spend their dollars and live their lives.”

The card comes with no annual fee, a competitive low introductory APR, and cardholders can earn $150 cash back when they spend $500 in the first 90 days. The credit card also offers 3% cash back on dining — including takeout and delivery — 2% cash back at grocery stores, and 1% cash back on other purchases.

The TD First ClassSM Visa Signature® Credit Card is aimed at bigger spenders and comes with some bigger perks. Card holders can earn up to 25,000 bonus miles when they spend $3,000 in their first six billing cycles. They also earn triple miles on travel and dining. The card comes with an $89 annual fee, which is waived for the first year.

TD Bank also offers a secured credit card for people working to establish or improve their credit scores. This card even lets users earn cash back on everyday purchases — a perk that not every secured credit card comes with.

“We’re excited for what we provide there,” Thacker said. “If you’re new to the U.S., building credit, rehabilitating credit, or just trying to improve your score, the secured card is a great option.”

The bank also offers a business credit card for its business owner customers.

Thacker also discussed the various resources TD Bank provides customers to help them better understand their credit scores and how to improve them.

“We provide a lot of information on our website,” he said. “The customer has the opportunity to look through that information that is most applicable for them.”

Thacker said customers can also set up a meeting or phone call at one of its 1,200 stores from Maine to Florida to discuss their credit situation with a TD bank employee.

“In this environment, we’re taking safety measures and precautions, but you can still come in and have a conversation with a banker if you wanted to talk about your credit or ways to strengthen your credit,” he explained.

Many TD Bank customers find it refreshing to be able to have a conversation with a person who is involved in the world of finance day in and day out, Thacker said.

TD Bank’s online learning center covers a lot of ground for those who prefer self-guided learning experiences. Whether it’s gaining a better understanding of digital and online banking, digital wallets, debit cards, or contactless payments, the learning center is there for customers. The online learning resources also dive into topics like finance 101, tax resources, and joint bank accounts.

There’s also a bevy of information on credit-related topics.

“Learn how to protect, monitor and improve your credit score, with helpful tips and detailed info on understanding your credit report, home loan repayment options and more,” according to the bank website.

Individuals as well as businesses of all kinds have had to deal with the COVID-19 pandemic in some form or another in 2020, and TD Bank is no different.

“We’re doing everything we can to make things a little easier right now — from helping customers understand their financial relief options, to assisting our PPP loan customers with the forgiveness process, to contributing to the well-being of our communities,” according to the institution website.

For its individual customers, TD Bank launched its TD Cares program, which is intended to offer a variety of relief options for customers.

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“There are a number of ways we can help — whether you have a credit card, loan, or line of credit (like personal, auto or home),” according to the website. “Depending on the type of account you have, we may be able to help by: Waiving or refunding fees (or) reviewing options to delay payments and address repayments.”

The bank has also encouraged customers who may not have gotten on board with digital banking yet to explore the institution’s online and mobile banking options.

Thacker said TD Bank also implemented contactless credit and debit cards at a fortuitous time.

“We were an early adopter of contactless technology,” he said. “We thought it was a winning consumer value proposition that folks use and generally like because of the speed and security.”

Then, when the pandemic hit, contactless technology became all the more relevant as people across the country donned masks and worked to maintain a social distance of six feet. Being able to pay for goods and services without having to touch a card reader only added to the safety precautions available.

With its focus on customer service and convenience, TD Bank offers the products and services of a large commercial bank with some of the human connections and perks found in mutual savings banks and credit unions.