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TD Emerald Flex Rate Visa

By Kelly MacMurphy

  I

July 29, 2020

TD Emerald Flex Rate Visa

By Kelly MacMurphy

  I

July 29, 2020

TD Offers a Unique Way of Saving Money on Low Interest Rates

The TD Emerald Flex Rate Visa offers an interesting twist on low interest-rate credit cards. They achieve this by offering customers what are possibly the lowest rates available in a Canadian credit card simply by taking advantage of one’s unblemished credit score.

As of today, the best possible rate that you can qualify for is 6.95%. This figure is calculated by TD, using prime + 4.50%.

TD's Saucy Low Rate Method

Using the current prime rate of 2.450% (as posted by TD and active since March 30, 2020) they are able to offer their Emerald Flex Rate Visa credit card with interest rates as low as Prime + ( between 4.50% and 12.75%)

Those with immaculate credit scores (upwards of 750 and above) will be approved with a lower interest rate; closer to the bottom end of the spectrum, whereas a customer with a mediocre credit score (650 and below) will be approved at a higher rate.

The take away is, those who responsibly handle their finances will be rewarded with a credit rate low enough to rival that of what any other Canadian financial institution has to offer. 

Even if You Have Questionable Credit You Can Still Get a Competitive Rate

But what if your credit score is less than immaculate? You might still be approved with an A.P.R. somewhere in the middle – at around 10.95% (8.50% + prime) –  when applying with a credit score hovering around 700, give or take 20 points.  Being so, it’s definitely worth applying for considering the fact that it is still well below the national average A.P.R. of 19%.

The TD Emerald Flex Rate Visa doesn’t offer complimentary travel and medical coverage as a standard feature when comparing this that of a visa infinite card. It does however offer the option to purchase coverage on a per-trip basis at competitive rates.

Furthermore, the insurance isn’t offered directly by TD but instead by their underwriters Allianz Global Corporate & Specialty; A German-based commercial insurer founded in 2006. They formed through the aftermath of a mass merger thereafter expanding offices globally and eventually making their way over Canadian borders with offices out of Toronto, Vancouver and Montreal division.

Graphic cartoon image describing 3 Types of Travel Insurance. Trip Cancellation, Baggage Loss/Damage and Emergency Medical Assistance.

Innovative Payment Options, Car Rental Discounts and a Partridge in a Pear Tree

The card comes standard with all the extra bells usually bundled in with Visa’s trademark features; Zero liability, Avis and Budget rental discounts as well as the convenience of Apple Pay and VISA payWave.

When reserving your car through Avis or Budget you will be prompted to supply a discount code. This qualifies you for a minimum of 10% off the lowest rates in Canada and the US, or 5% internationally. Don’t forget to bring your card because you’ll have to present it for confirmation when picking up your vehicle!

Adding extra authorized users is a snap and does not require additional credit application or approval. TD allows up to three (3) additional cards offered at no extra charge. All authorized users have access to the same great low rates and benefits offered to the primary cardholder.

Most Items Qualify for Repair or Replace if Paid for with Visa

 The TD Emerald Flex Rate Visa comes equipped with extended warranty protection for up to 90 days in the event that any recent purchases may have been damaged or stolen.

No minimum Income Requirements • Variable A.P.R. available: TD prime + 4.50% – 12.75% • Approved rate varies by credit score and report • Annual Fee: $25 • Benefits include: Discounted car rentals and Extended warranty protection.
No minimum Income Requirements • Variable A.P.R. available: TD prime + 4.50% – 12.75% • Approved rate varies by credit score and report • Annual Fee: $25 • Benefits include: Discounted car rentals and Extended warranty protection.

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