Target Credit Rates & Fees

TD Bank USA's filed agreement for Target Credit Rates & Fees 08 29 2023 discloses a 28.15% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 67th percentile.

On the face of the filing

Target Credit Rates & Fees 08 29 2023 is one of the agreements TD Bank USA has on file with the CFPB. It is issued on the Mastercard network and the filing runs five pages.

The filing is explicit about a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a grace period. A balance transfer rate, a penalty rate and a foreign transaction fee are not stated.

How the purchase rate compares

28.15% puts the purchase APR near the 67th percentile across 2,280 agreements, so it is dearer than the typical filing.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

What the rate means in dollars

Put $1,500 on the card and never reduce it, and twelve months of interest at the disclosed purchase rate comes to approximately $487.

On a median-priced agreement from this index (21.99%) the same $1,500 would run about $369 a year, so this card costs in the region of $119 more annually for the identical balance.

That maths assumes a static balance and nothing else — no payments, no additional purchases, no fees folded in.

Grace period and minimum charge

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies. That matches the 25-day median across the corpus almost exactly.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

When a payment is late

Late payments are capped at $41 under this filing, about the 89th percentile of late fee maximums in the corpus.

Fees, and what triggers them

There is no annual fee. That is the common case in this corpus — about 75% of the filings that disclose an annual fee at all disclose it as $0 — so it is a baseline expectation rather than a distinguishing feature.

Cash advances carry a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 31.15%. Cash is therefore 3 points dearer than buying something with the card. Advances under roughly $333 are charged the flat $10; larger ones are charged 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

Inside TD Bank USA's filed lineup

This is one of 10 TD Bank USA agreements collected here. Their disclosed purchase rates run from 19.65% to 31.9%, and this one at 28.15% is more expensive than 4 of them.

The limits of this document

The disclosure parsed here does not state balance transfer terms, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

An agreement filing is not a marketing document. Rewards, perks, welcome offers and eligibility rules are not in it, are not in this dataset, and are therefore not discussed anywhere on this page.

The document itself

The original filing, 5 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

The pricing here is middling by the standards of the index — 28.15% on purchases is near enough to typical. The absence of an annual fee means the rate is the only thing that can make this card expensive.