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.
As great as balance transfers are, they have a big downside: the fee. Nearly all cards charge a balance transfer fee, which typically ranges from 3% to 5%. With this card, you'll get a lower 3% (minimum $5) balance transfer fee during the intro period. After that, the fee increases to 5% (minimum $5). The lower rate can save you quite a bit of money if you're transferring a large amount. It also means you can transfer a bit more, as the transfer fee can eat into your transfer limit.
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.
Skip one payment a year
Another unique feature of this card is the Skip a Payment option. You can schedule ahead a time for a month when you want to skip the minimum payment. And yes, that's skip as in, not make a payment that billing cycle. You can do this once every 12 billing cycles without paying a late fee.
The downside of this deal is that you will accrue interest on your balance unless it qualifies for a promotional 0% APR. For example, if you make $500 in new purchases with your card and decide to skip the payment that month, the $500 balance will accrue interest. Other than a promotional APR offer, the only way to avoid accruing interest is to pay your balance in full before the due date.
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.
Fact Checked
Nathan Alderman
