TD FlexPay Credit Card Review
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Written by
Karen Doyle
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Edited by
Emily Gadd
The TD FlexPay Credit Card is a no-frills card that’s most useful for balance transfers. There are added Visa benefits and late fee forgiveness as well, but it is important to note that that it is only available to consumers in certain states.
Purchase and Balance Transfer APR
0% introductory APR on balance transfers for the first 18 billing cycles after account opening. After that 18.24% – 28.24% variable APR based on your creditworthiness. A 18.24%, 20.24%, 23.24%, 26.24% or 28.24% variable APR based on your creditworthiness applies to purchases.
Balance Transfer Fee
Intro Balance Transfer fee of either $5 or 3% of the amount each transfer, whichever is greater, on transfers made within the introductory offer. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
Rewards
N/A
Recommended Credit Score
Good – Excellent
670 – 850*
Annual Fee
$0
CardCritics™ Opinion
If you are paying high interest on balances that you want to pay off, the TD FlexPay Credit Card is a good choice. You’ll get an Intro APR on balance transfers so all your payments will go to pay down your debt instead of paying interest. Plus, the first late fee each year is forgiven. It is important to note that that this card is only available to consumers in certain states.
Our Critical Analysis:
TD FlexPay Credit Card
- No annual fee
- Long Intro APR on balance transfers
- Your first late fee each year is forgiven
PROS
- No ongoing rewards
- No Intro APR on purchases
- Only available in some states
CONS
Intro APR Benefits
The TD FlexPay Credit Card has one of the best balance transfer offers around – pay 0% introductory APR on balance transfers for the first 18 billing cycles after account opening, then 18.24%, 20.24%, 23.24%, 26.24% or 28.24% variable APR based on your creditworthiness. There is a balance transfer fee: Intro Balance Transfer fee of either $5 or 3% of the amount each transfer, whichever is greater, on transfers made within the introductory offer. After that: Either $5 or 5% of the amount of each transfer, whichever is greater. There is no intro APR on purchases.
Important Fees to Consider
With the TD FlexPay Credit Card, your first late fee each year will be forgiven. So if you forget to make a payment, you won’t be charged the late fee of up to $40. Note that only one late fee is forgiven each year. Your late payment will still be reported to the credit reporting agencies, so your credit score may be impacted.
Rewards
The TD FlexPay Credit Card does not offer cash back or points for purchases. There is also no welcome bonus, which many cards offer when you spend a certain amount on purchases in the first three months or so of having the card. This is not abnormal for cards focused on an introductory rate on balance transfers, but there plenty of cards that offer both rewards and a compelling intro APR.
Interest Rate
The interest rate on the TD FlexPay Credit Card is variable and is based on your creditworthiness. When your card is issued, you will have a 0% introductory APR on balance transfers for the first 18 billing cycles after account opening. After that 18.24% – 28.24% variable APR based on your creditworthiness. A 18.24%, 20.24%, 23.24%, 26.24% or 28.24% variable APR based on your creditworthiness applies to purchases.
Additional Benefits
There are a handful of Visa benefits like cell phone protection when you pay your monthly mobile bill with your card, travel benefits, and entertainment benefits. You can find all of the terms and details by clicking the ‘Apply Now’ button.
Is It the Right Card For You?
The TD FlexPay Credit Card may be the right fit for you if any of the following apply:
- You have high-interest rate balances on other credit cards that you want to pay off
- You may forget to make a payment once in a while
- You don’t care about earning cash back or travel points
- You don’t want to pay an annual fee
- You live in one of the following states: CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA or VT.
Card Details From TD Bank
- 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.
Frequently Asked Questions
What credit score is needed for the TD FlexPay Credit Card?
The TD FlexPay Credit Card requires good to excellent credit. Typically a FICO credit score of 670 or above meets this criteria. However, having a credit score of 670 or above does not guarantee approval since other factors are taken into consideration.
Does the TD FlexPay Credit Card charge an annual fee?
No. The TD FlexPay Credit Card does not charge an annual fee.
Does the TD FlexPay Credit Card charge a foreign transaction fee?
Yes. The TD FlexPay Credit Card charges a foreign transaction fee of 3% of each transaction in U.S. dollars.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics™ references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.
