Maria Adams, Credit Cards Moderator
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.
Since there’s no TD student credit card, you can go for their secured card or store cards. But you should also consider getting a student card from another issuer. Journey Student Rewards from Capital One offers 1% cash back on all purchases, 1.25% if you pay on time, and has a $0 annual fee. And Bank of America® Unlimited Cash Rewards credit card for Students gives 1.5% cash back on all purchases and offers an initial bonus of $200 after spending $1,000 in the first 90 days. It has a $0 annual fee, too.
Whatever card you choose, just make sure not to get carried away. Spend responsibly and don’t use too much of your available credit. Also pay on time, and in full, every month.
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