TD Bank credit cards just got a major overhaul with new products that can save you money on interest

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• TD Bank today unveiled new credit cards and made positive changes to two of its popular cash-back cards.
• The new TD Clear Card
  doesn’t charge interest; instead, you’ll pay a flat monthly fee and minimum payment.
• The TD FlexPay Credit Card
  gives you the option to skip a payment once a year and comes with a long 0% intro APR on balance transfers.
• Read Insider’s guide to the best rewards credit cards.

TD Bank might not be top of mind when you think of the best credit cards on the market. But today, TD announced big changes to its credit card lineup that might make you give the issuer a closer look.

Two brand-new cards — the TD Clear Card and TD FlexPay Credit Card — don’t come with a welcome bonus or earn rewards, but they’ve each got unique benefits that can give you some financial breathing room. And you won’t find these features on any other card.

Plus, the existing TD Double Up℠ Visa Credit Card
and TD Cash Credit Card
each got a makeover, with customer-friendly updates that make it easier to earn maximum rewards. 

Here’s a look at the new TD credit cards and existing card improvements to help you decide if they’re worth it.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

TD credit card changes

New TD credit cards

The new TD Clear and TD FlexPay Credit Card aren’t for folks who love to earn and use credit card rewards for free travel or cash back. In fact, they don’t come with a welcome bonus or earn rewards at all, which might be a turnoff for many.

But these no-annual-fee cards each have unusual benefits that can help you simplify your finances and give you flexibility if you run into unexpected financial road bumps.

TD Clear Card

The TD Clear is effectively a subscription-based credit card. Instead of being charged interest, you’ll pay a flat monthly fee for your credit line and have a fixed minimum payment amount. And you won’t pay foreign transaction fees, cash advance fees, late fees, or balance transfer fees either — just a single monthly fee.

The credit lines available aren’t huge, however. You can choose between:

• $1,000 credit limit: $10 monthly fee and $45 minimum monthly payment (includes the monthly fee)
• $2,000 credit limit: $20 monthly fee and $70 minimum monthly payment (includes the monthly fee)

Having a predictable, fixed payment amount each month is handy if you find it hard to stick to a budget or have fluctuations in your income. And not having to calculate credit card interest keeps things super simple.

However, if you’re the type of person who pays off their credit card in full each month or carries just a small balance, this is not the card for you. You’ll only come out ahead by paying a fixed monthly fee in lieu of interest if you carry a balance that’s close to your credit limit.

TD FlexPay Credit Card

The TD FlexPay Credit Card is geared to those who occasionally find themselves cash-strapped and need a little wiggle room to get caught up. It offers cardholders the opportunity to skip one card payment per year with no penalty (although interest is still charged on your balance).  

It also comes with an introductory 0% APR that’s on par with some of the best balance transfer credit cards. New cardholders receive a 0% intro APR on balance transfers for the first 18 billing cycles (followed by a 18.74%, 20.74%, 23.74%, 26.74% or 28.74% variable APR). That’s a good deal if you’re looking to consolidate high-interest debt from other credit cards, but be sure to consider if a balance transfer is worth it for you before you go this route.

Improvements to existing TD credit cards

TD Double Up Visa

Our list of the best 2% cash back credit cards already includes the TD Double Up℠ Visa, and now it’s become a lot easier to use. Previously, you’d only earn 2% back if you redeemed your rewards into an eligible TD deposit account; otherwise, you’d just get 1% cash back.

The requirement to redeem to a TD account has now been removed, so the card straight-up earns 2% cash back on all purchases. That gives the cards much broader appeal since you don’t have to bank with TD to enjoy its best benefit.

The TD Double Up℠ Visa also offers a welcome bonus of $100 cash back as a statement credit after spending $1,000 within the first 90 days of account opening. Plus, if you want to save money on interest by consolidating debt, it comes with a 0% intro APR on balance transfers for first 15 billing cycles (then a 19.74%, 24.74% or 29.74% variable APR).

TD Cash Credit Card

Some of the best cash-back credit cards, like the U.S. Bank Cash+® Visa® Secured Card
and Bank of America® Customized Cash Rewards Credit Card, allow you to maximize your earnings by choosing the categories where you earn the most rewards. But in almost every case, there’s a maximum spending limit for these category bonuses, making these cards a little impractical for big spenders.

Enter the newly remodeled TD Cash Credit Card: While it’s always offered strong bonus categories, they were previously fixed. Cardholders earned 3% cash back on dining, 2% cash back on groceries, and 1% cash back on everything else.

With today’s updates, cardholders can now choose their 3% and 2% cash-back categories and change them each quarter, with no spending caps or limits to what they can earn. Eligible categories are dining, entertainment, gas, groceries, and travel, which cover a lot of common everyday expenses.

With this card, you can earn $150 cash back when you spend $500 within the first 90 days of account opening, plus earn 5% cash back on gas purchases for six months or up to $6,000 in spending (limited-time offer). If you max out the 5% gas bonus, you could earn an additional $300 cash back.

There’s also a 0% intro APR on balance transfers for first 12 billing cycles (then a 19.74%, 24.74% or 29.74% variable APR). This shouldn’t be your main motivator for getting the card, since plenty of other zero-interest credit cards come with longer intro APRs — but it’s a nice little extra if you want to save money by consolidating existing debt.