TD Ameritrade Client Rewards Personal Credit Card Agreement

On the record for TD Ameritrade Client Rewards Personal Credit Card Agreement: a purchase APR of 15.99%–22.99% and no annual fee, filed by TD Bank. The purchase rate sits at roughly the 54th percentile of the 4,587 agreements indexed here.

The disclosed terms

TD Bank filed this agreement for TD Ameritrade Client Rewards Personal Credit Card Agreement with the Consumer Financial Protection Bureau. It is issued on the Visa network and the filing runs nine pages.

The disclosure covers a purchase rate, a cash advance rate, a balance transfer rate, an annual fee line and a late payment maximum. It is silent on a penalty rate.

The purchase APR against the corpus

The purchase APR is quoted as a range of 15.99% to 22.99%. That 7-point spread is the whole of what the filing commits to; the method for assigning a rate inside it is not in the document.

The floor of that band sits at about the 39th percentile of filed purchase rates; the ceiling sits at about the 54th. In corpus terms the same card can be cheap or expensive depending on how it is priced.

This is disclosed as a variable rate. The number above is a snapshot: it tracks an index, so it changes without the agreement being amended.

The cost of carrying a balance

Carry $5,000 on this card for a year without paying it down and the purchase rate alone generates roughly $1,292 in interest.

On a median-priced agreement from this index (21.99%) the same $5,000 would run about $1,229 a year, so this card costs in the region of $63 more annually for the identical balance.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Default pricing

The maximum late fee is $37 — roughly the 59th percentile of the late fee ceilings disclosed across this index.

What the card costs before you borrow

No annual fee appears in the filing, in line with the roughly 75% of disclosing agreements in this index that charge nothing to hold the card.

Cash advances carry a cash advance fee of $10 or 5% of the advance, whichever is greater and a cash advance APR of 25.24%. Cash is therefore 2.25 points dearer than buying something with the card. $200 is the crossover point where the percentage overtakes the $10 minimum. Cash advances also tend to fall outside any grace period, which means interest typically starts on day one rather than at the end of a billing cycle.

The transfer fee is $5 or 3% of the amount transferred, whichever is greater; transferred balances then run at 12.99%. Shifting $5,000 across attracts something like $150 in fees on day one.

Foreign transactions carry no fee. Only about 22% of the filings here that disclose a foreign transaction fee set it at zero, so this is a genuine point of difference.

Paying in full

The filing gives 25 days' grace on purchases, meaning a statement balance paid in full within that window attracts no interest.

The issuer's other agreements

39 separate TD Bank filings appear in the corpus. Their disclosed purchase rates run from 16.74% to 29.99%, and this one at 22.99% is more expensive than 1 of them.

On fees, 34 of the 36 sibling filings that disclose an annual fee also set it at zero — this one is among them.

The limits of this document

This page cannot tell you penalty pricing, because the filing's disclosure table as read does not contain it.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

Reading the agreement yourself

The filed PDF is linked from this page and runs nine pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 22.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. With no annual fee, the cost of the account is entirely a function of whether a balance is carried.