TD Bank only offers rental car insurance as a free benefit on some of its credit cards, including the TD Business Solutions Credit Card. TD Bank rental car insurance covers theft, damage, valid loss-of-use charges imposed and substantiated by the auto rental company, administrative fees and reasonable and customary towing charges. Cardholders are covered up to the actual cash value of most rented cars. To get the coverage, a cardholder must decline the rental agency’s insurance and pay for the rental entirely with a TD Bank credit card.
Notable TD Bank Credit Cards With Rental Car Insurance
Key Things To Know About TD Bank Rental Car Insurance
Coverage Amount. Up to the actual cash value of most rented cars.
How Long You’re Covered. The TD Bank rental car insurance benefit covers domestic rentals up to 31 days.
Coverage For Rental Vehicles in Another Country. TD Bank rental car insurance covers eligible cardholders for 31 days when renting vehicles in another country.
Not All Vehicles Or Incidents Are Covered. TD Bank rental car insurance does not cover expensive, exotic, or antique cars, cargo vans, recreational vehicles, and others. Coverage also does not apply to certain incidents such as injury of anyone inside the rental vehicle, loss or theft of personal belongings, theft or damage due to intentional acts or due to the driver being under the influence of intoxicants, and more.
TD Bank Rental Car Insurance Claims
To file a TD Bank rental car insurance claim, call the Benefit Administrator at 1-800-348-8472 or visit the card’s benefits website to obtain a claim form. You will need to submit the claim form, along with any requested supporting documents – such as a copy of the accident report form, a copy of the entire auto rental agreement, or a copy of the repair estimate or itemized repair bill, among others – no later than 90 days after the incident. You should receive payment from the Benefits Administrator within 15 days after receipt of all documents and the validation of your claim.
Using a TD Bank credit card will help you earn TD Bank points faster, especially if it’s one as rewarding as the TD Bank Cash Credit Card.
Redeem TD Bank points regularly.
TD Bank points do not expire due to account inactivity, but stockpiling points does put you at risk of rewards devaluation. Plus, you won’t get to enjoy the fruits of your spending if you don’t redeem.
Read the rewards program rules.
Every credit card with rewards also has rules for when unredeemed earnings could be lost – usually as a result of closing your account or missing payments. Double-checking these details can help you keep every cent of rewards value you earn.
Redeem before closing your account.
Any points you don’t redeem before closing your account will be lost.
You need a credit score of at least 750 for most TD Bank credit cards. That means applicants for TD Bank credit cards need excellent credit to be approved. But it really depends on which card you’re after. Some TD cards require credit scores lower than that.
You should note that while your credit score is an important factor, there are plenty of other things that will impact your chances of being approved for a TD Bank credit card, too. Some other key criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status, and housing status.
No, TD Bank doesn’t offer a student credit card. Its most viable option for students is the TD Cash Secured Credit Card, which is designed for people with limited credit (and even bad credit). The TD Cash Secured Credit Card gives 1% cash back on all eligible purchases. TD Bank also has checking and savings accounts designed specifically for students.
If you’re approved for the secured card, you’ll open a TD Bank savings account and have 15 days to deposit funds. Your deposit, which must be at least $300, serves as your credit limit. You will not be permitted to deposit additional funds to increase your credit limit.
Here’s how students can build credit with a TD Bank credit card:
Get a secured credit card: TD Bank does not have a student credit card. The best alternative is the TD Cash Secured Credit Card. The TD Cash Secured Credit Card requires you to put up a refundable deposit of $300 or more. But you get 1% cash back on all eligible purchases. There’s an annual fee, but it’s just $29.
Get a store card: The Target Credit Card issued by TD Bank is another good option for students who have fair credit. You can only use it at Target, but you can buy a huge variety of products there. And, you get 5% discount off all purchases, free 2-day shipping and extended returns all for a $0 annual fee.
Become an authorized user: Students who know someone with a TD Bank credit card can become an authorized user on their card.
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