What the Card Offers
TD markets the Low Rate Visa for carrying a balance: a 12.90% rate on purchases and cash advances, 0% on purchases for the first 6 months, and a first-year rebate of the $25 annual fee.
- 12.90%
Low interest rate1
A 12.90% annual interest rate on both purchases and cash advances.
- $0
First-year annual fee rebate2
The $25 annual fee is rebated for the first year if you activate the card and make a purchase within 3 months.
- 90 days
Purchase security1
Coverage for eligible new items stolen or damaged within 90 days, and up to 12 extra months of warranty.
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- 0%
Intro rate on purchases for 6 months3
0% interest on purchases for the first 6 statement periods after the account opens.
- $0
Additional cardholders1
No fee for additional cardholders, up to 3 on the account.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (3)
- TD Low Rate Visa product page (retrieved 2026-10-13)
- TD Low Rate Visa product page, footnote ¶ (retrieved 2026-10-13)
- TD Low Rate Visa product page, footnote + (retrieved 2026-10-13)
The Fine Print Report
Moderate fine print. The rate is the product, and late-payment rules can take it away.
2 late payments: rates jump to 24.99%Impact level: High
Two late payments in 12 months raise your rates to 24.99% on purchases and 27.99% on cash advances
If TD doesn't receive your minimum payment on time twice within 12 consecutive statement periods, your rates rise to the Standard Rate of 24.99% on purchases and 27.99% on cash advances. The higher rates apply from the next statement period and stay until you make 12 consecutive on-time minimum payments.
Why it matters: The low rate is the reason to hold this card. Two late payments in a year cost you that rate for at least the next 12 months, so set up automatic minimum payments.
One late payment ends the 0% intro rateImpact level: High
One late payment ends the 0% intro rate immediately
The 0% promotional rate applies to purchases for the first 6 statement periods, but only while the account is in Good Standing. If a minimum payment isn't received by its due date, you lose the promotional rate and purchases move to 12.90%. It doesn't apply to cash advances or balance transfers, product transfers, or anyone who opened or closed a Low Rate Visa in the last 12 months.
Why it matters: If you're financing a large purchase at 0%, a single missed payment ends the offer early.
Balance left after 6 months: 12.90%Impact level: Medium
Any purchase balance left after 6 months starts accruing 12.90%
When the promotional period ends, the remaining purchase balance moves to the regular 12.90% rate from the first day of the next statement period. There's no balance transfer offer.
Why it matters: Plan to repay the purchase within the 6 statement periods, or budget for 12.90% on whatever remains.
Carry a balance: interest from purchase dayImpact level: Medium
Carry any balance and interest is charged on new purchases from the day you make them
The 21-day interest-free grace period only applies when you pay the full statement balance by the due date. If you don't, TD charges interest on new purchases from the transaction date until the balance is paid in full, and interest is added to the balance, so interest is charged on interest.
Why it matters: A low rate still costs money: on this card most cardholders carry a balance, which means every purchase starts accruing interest immediately.
2.5% FX fee, charged again on refundsImpact level: Medium
2.5% foreign currency fee, charged again when a foreign purchase is refunded
Purchases in a foreign currency are converted by Visa and charged a 2.5% foreign currency conversion fee. If a foreign purchase is refunded, TD deducts another conversion fee from the refund and does not return the fee it charged on the original purchase.
Why it matters: A $500 USD hotel deposit that's refunded in full costs you about 5% of its value in fees (2.5% going out, 2.5% coming back), plus any exchange-rate movement in between.
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Missed payment: TD can debit other accountsImpact level: Medium
After one missed payment, TD can take money from your other TD accounts without notice
If your full minimum payment isn't received by the due date, the account is no longer in Good Standing. TD may then deduct money from any other account the Primary Cardholder has with the TD Bank Group, with or without notifying you, and may demand the full balance.
Why it matters: If your chequing or savings account is also at TD, a single missed payment can lead to a withdrawal you didn't schedule, which could bounce other payments.
No rewards; purchase coverage onlyImpact level: Low
No rewards and purchase-only insurance
The card earns no points or cash back. Its included insurance is limited to Purchase Security and Extended Warranty Protection; travel insurance is only available as a paid add-on.
Why it matters: If you pay your balance in full every month, a no-fee rewards card returns more.
Gambling and money orders = cash advancesImpact level: Low
Lottery tickets, betting, money orders and similar purchases are treated as cash advances
TD treats Cash-Like Transactions, such as casino chips, betting, lottery tickets, travellers cheques and money orders, as cash advances. Cash advances have no interest-free grace period and earn no rewards.
Why it matters: Interest starts the day of the purchase even if you pay your statement in full, and cash advance fees may apply.
Who This Card Is For
Great fit if you...
- Sometimes carry a balance
- Want 0% on a planned purchase for 6 months
- Always pay at least the minimum on time
- Don't need rewards or travel insurance
- Want a low, fixed-margin rate (not prime-based)
Consider alternatives if you...
- Pay your balance in full every month
- Might miss payments (24.99% penalty rate)
- Want rewards or travel insurance
- Need a balance transfer offer
- Make many foreign-currency purchases
The Verdict
The Low Rate Visa does what it promises: 12.90% on purchases and cash advances is about 9 points below TD's standard cards, and the 0% intro period helps finance a planned purchase.
The protection depends on paying on time. One late payment ends the 0% offer, and two in a year raise the rate to 24.99%.
The Recommendation: Good for carrying a balance if you can pay reliably. If you'd prefer a rate tied to your credit profile, compare the TD Emerald Flex Rate Visa.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of October 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer