What is a secured credit card?

A secured credit card is a credit card that requires a security deposit, which is held as collateral in a savings account. The deposit in the savings account “secures” the credit line for the card.

A secured credit card helps you build or rebuild your credit, whether that means growing your credit history or improving your credit score by making on-time payments. Establishing good credit is an important step to reaching financial goals, like buying a car or house, or paying for higher education.

Plus, with the TD Cash Secured Card, you can earn Cash Back on purchases*, so you get the benefit of earning rewards while building credit.

How it works

Grow your credit history or improve your credit score while earning rewards like Cash Back.

  • Your savings account secures your credit card
    When you apply for the TD Cash Secured Card, you'll also open a TD Simple Savings account to hold your security deposit.2 This means money in the savings account is held as collateral for the card
  • Your savings deposit is your credit line
    Once approved for the secured card, you'll open a Simple Savings account and have 15 days to deposit funds. These funds will be your credit line. So if you deposit $500, the limit on your card will be $500
  • Your savings account will be frozen, so don't overfund it
    Only deposit the amount you are approved for. If you are approved for $500 and deposit $700, your credit line will still be $500
  • Once you fund your card, you'll receive it in the mail
    When your savings account is opened, funded and frozen, TD Bank will mail your new secured card to you. Activate it and start building your credit
  • Use it just like any credit card
    Make purchases and earn rewards, all with the same convenience and security of a TD Bank Credit Card. Then, pay your bill each month
  • The key is to pay your balance on time each month
    If you use and maintain the card and keep it in good standing, you may be eligible to graduate to an unsecured TD Bank Credit Card2

Find out how to build or repair your credit

Understanding your credit score & report

Learn about your credit score and what steps you can take to improve it
Find out more

Building a good credit score

Learn how to build and improve your credit
Find out more

Credit scores & reports interactive guide

Get information on your credit score, how it’s calculated and how to protect it
Find out more3

Earn rewards while you build or repair your credit

The TD Cash Secured Card is a smart, safe and convenient way to pay, plus you earn rewards just for using your card instead of cash.

  • Earn 3% Cash Back on dining – from casual to fine dining and everything in between
  • Earn 2% Cash Back at grocery stores1
  • Earn 1% Cash Back on other purchases*

Say you spend $500 a month:

  • $100 on dining
  • $200 at grocery stores1
  • $200 on other purchases

After your first year, that would be $108 Cash Back!4

Start earning rewards and building your credit today.

Note: Rewards are earned as points that can be redeemed for cash back.

Rates and fees for TD Cash Secured Credit Card

Rates and fees for TD Cash Secured Credit Card
Rates and fees
What you pay
Credit Line
$500–$5,000
Variable Annual Percentage Rate (APR) for Purchases
14.24%, 19.24% or 24.24% based on your creditworthiness
APR for Balance Transfers

0% introductory APR for first 12 billing cycles after account opening. After that, 14.24%, 19.24% or 24.24% based on your creditworthiness.

If you take advantage of this offer and use your account to make new purchases, you can avoid paying interest on those new purchases if you pay the minimum payment due and the total outstanding purchases balance, including any fees that may have been assessed, by the payment due date shown on your monthly billing statement.
Balance Transfer Fee
$5 or 3% of transfer whichever amount is greater
Minimum Interest Charge
$1
APR for Cash Advances
26.49%
Cash Advance Fee
$10 or 5% of advance whichever amount is greater
Annual Fee
$29 annual fee*
Foreign Transaction Fee
$0
Late Payment
Up to $37

Need more information?

Take a look at our terms and conditions or the Personal Credit Card Agreement for TD Cash Secured Credit Card.

Benefits with your TD Cash Secured Card

Digital wallets

Connect your TD accounts and cards and pay with your smartphone
Find out how

Chip technology protection

Our built-in chip makes your card more secure and easier to use around the world
Find out more

Visa Zero Liability5

Enjoy Visa security on purchases, plus protection against unauthorized charges
Find out more3

Instant credit card replacement

If your card is lost or stolen, get an immediate replacement at a TD Bank
Find a TD near you

Already have a TD Credit Card?

Manage your card, pay your bill, set up alerts, view and redeem rewards, check your credit score and more. Get started

Apply for a TD Cash Secured Card

In person

Visit a TD Bank near you to apply and open a TD Simple Savings account
Find a TD Bank

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