This is TD's plain low-rate card, and the number that matters is 12.90%, charged on purchases and cash advances alike, against 21.99% on purchases with TD's no-fee Cash Back Visa. I'd hand it to someone who carries a balance from month to month or has a large purchase to spread out, and the current offer adds 0% on new purchases for the first 6 statement periods.
The trade-off is a $25 fee and nothing back: no points, no cash back, and insurance limited to purchase cover. If you pay in full every month, the low rate never helps you, and a no-fee rewards card is the better pick.
Welcome offer
TD's special offer is a 0% promotional interest rate on purchases for the first 6 statement periods after the account opens, plus a rebate of the $25 annual fee for the first year, verified on TD's page on October 15, 2026. Unlike most low-rate offers, the 0% applies to new purchases, not to balance transfers or cash advances. When the period ends, any purchase balance left over moves to the regular 12.90% rate (13.90% for Quebec residents).
To get the fee rebate, the primary cardholder has to apply, activate the card and make a first purchase within 3 months of opening. A missed minimum payment ends the 0% early, and the offer is not available on a product transfer or to anyone who opened or closed a TD Low Rate Visa account in the last 12 months. TD prints no end date and says the offer may be changed or withdrawn at any time.
Treat the 6 statement periods as a deadline for a planned purchase: divide the amount by 6 and pay at least that much each month, so nothing is left when the rate moves to 12.90%. Set up an automatic minimum payment, since one missed payment ends the promotion.
Fees & eligibility
The card costs $25 a year, rebated for the first year under the current offer, and up to 3 additional cardholders are free. There is no income requirement: TD only asks that you are a Canadian resident of the age of majority in your province or territory.
Purchases and cash advances both carry 12.90% interest (13.90% on purchases for Quebec residents, per the offer terms), with rates current as of June 1, 2026. Miss the minimum payment twice within 12 statement periods and the rates rise to 24.99% on purchases and 27.99% on cash advances. The product page does not state the balance transfer rate, the grace period or the foreign transaction fee; those sit in TD's disclosure statement.
The fee pays for itself once you carry enough debt. Against the 21.99% purchase rate on TD's no-fee Cash Back Visa, the 9.09-point gap saves about $9 a year for every $100 of balance carried, so the $25 fee is covered once your average balance is above roughly $275.
Perks & benefits
The perks are about managing debt rather than earning. The headline is the 0% promotional rate on purchases for the first 6 statement periods, and TD Payment Plans turn purchases of $100 or more into 6, 12 or 18 month plans, with conditions.
You also save at least 10% off base rates at participating Avis and Budget locations in Canada and the U.S. (at least 5% internationally), earn more Starbucks Stars at participating stores, and can request an emergency cash advance of up to $500. There is no lounge access, no travel credit and no included travel insurance; TD sells travel medical and trip cancellation cover separately.
Insurance
Insurance is limited to Purchase Security and Extended Warranty Protection, underwritten by TD Home and Auto Insurance Company. Items paid for in full with the card are covered against theft or damage for 90 days from purchase, and a manufacturer's warranty valid in Canada is extended by its own length or 1 year, whichever is less.
Both coverages share a $60,000 lifetime limit per cardholder across all TD credit cards, and they pay only after any other insurance you have. There is no travel insurance of any kind and no mobile device cover; TD's travel medical and trip cancellation plans are optional and sold separately.
My take
I'd get this card if you carry a balance on purchases or have a big purchase to spread over six months; if you pay in full every month, I'd skip it for a no-fee rewards card.
The appeal is the single rate: 12.90% on purchases and on cash advances, where most cards charge more for cash. The 0% on new purchases is also unusual for a low-rate card, and with the first year's fee rebated it costs nothing to try for a year.
The downsides: it is a weak pick for moving existing debt, because the promotion covers purchases only and TD's product page does not even print a balance transfer rate, while BMO's Preferred Rate offers 0% on balance transfers for 18 statement periods. There are no rewards, and from year two you pay $25 for a card whose only job is a lower rate, so I'd keep it only while you are actually carrying a balance.
The good
- 12.90% on both purchases and cash advances
- 0% on new purchases for 6 statement periods
- First-year $25 fee rebated
The catch
- No rewards of any kind
- No balance transfer promotion, and no balance transfer rate on the product page
- $25 fee from year two and purchase cover only