# Anyone have a TD Visa credit card?



## spicyapple (Aug 17, 2006)

I received a pamphlet that read, "Important changes to your TD Visa Account". Anytime the word 'changes' is used, you can be sure that raises a few red flags.

Effective December 1, VISA will begin charging interest on any amount owing from the transaction date until that amount paid in full. It used to be if you paid if off completely before your statement due date, you weren't charged the accrued interest. This change means the point of having a credit card for convenience isn't that compelling any more.

I don't know if this policy change is by TD or VISA, so I'll probably see switching to another card or bank. Just a little warning if anyone else uses Visa and/or TD.


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## Vandave (Feb 26, 2005)

I think you are misinterpreting what they are saying.

My take... If you are late in paying, then they will charge you interest starting from the transaction, not starting from the payment date. If you pay your bill on time, then no interest.


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## spicyapple (Aug 17, 2006)

Here's what it says, verbatim: (key sentence highlighted in blue)

"*Changes to how we calculate interest:*
Currently, if interest is charged on your Account, we charge interest on any amount owing to us from the date it is posted to your Account until that amount is paid in full.

Effective December 1, 2007, interest will be charged on any amount owing to us from the transaction date until that amount has been paid in full. All references in your TD Visa Cardholder Agreement or the Disclosure Statement you received with your Card to interest being charged from the date any amount owing to us was posted to your Account will be changed to refer to interest being charged from the transaction date. Your transaction date is shown on your monthly TD Visa statement"


EDIT: oops, got carried away. The old policy is still in effect regarding payments made in full, they only changed the day the interest starts (which probably means 1 or 2 days at most).


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## MACinist (Nov 17, 2003)

I got the same leaflet in my bill this week but I'm considering moving to BMO Mosaic MC as they offered me a much better interest rate. My mortgage is through them so I have been considering for a while.


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## Demosthenes X (Sep 23, 2004)

Sounds like your second guess is right, spicy - your statement should have a "transaction date" and a "date posted" a couple days later. Sounds like interest will accumulate from the "transaction date" instead of the "date posted" now... no big deal.

As it happens, though, I just signed up for an MBNA MasterCard, so...


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## test7 (Jan 5, 2008)

Can anyone tell me where I can view the payment due date for a TD VISA on the Easyweb website?

I always end up paying the bill early in fear that I might get hit with some interest charge, but I'd really like to know the EXACT date I need to pay my bill so I can defer the payments for as long as possible.


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## mar2007 (Oct 13, 2007)

When you go to view bills. Click on TD Visa. Then your bill comes up.
It's right in Front of you









I've had a td visa for 7 years now. I use it for everything even at the dollar store if they accept visa. I never carry cash anymore. Or use my debit. And i pay it off every month, i have never payed any interest on it. As long as you are smart with it. You should be fine.


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## test7 (Jan 5, 2008)

I never clicked on the "View Bills" button before, but I just did. It was empty.

I had to add the TD Visa to my list of "epost" bills. When I finally completed the submission, this is what it said:

*"Thank you. The registration process will take 2-3 business days for processing. You can confirm enrollment by logging into TD Canada Trust EasyWeb and then clicking into epost. Note: Your paper statements will continue for an interim period. Eventually, statements received through epost will replace your paper statements."*

I need those paper statements! Argh! This is not good! Now I have to figure out how to cancel this.

Thanks for the info, though.


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## mar2007 (Oct 13, 2007)

Your best bet is to call up they usually explain everything. And i'm sure you can get them to both mail you the statements and recieve it on easy web


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## Ryan1524 (Sep 27, 2003)

The new statements that they've started to send out this month reflects both dates. And that leaflet is telling you that you won't miss out on getting charged the awesome interest simply cause they got to the statement late. Good ol banks with their screwin us over. Won't even give us a couple of days of interest free transactions - even if it's cause of their own tardiness in posting the transactions.


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## chas_m (Dec 2, 2007)

Banks -- meh. I'll only use Credit Unions from now on.


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## monokitty (Jan 26, 2002)

test7 said:


> I need those paper statements! Argh! This is not good! Now I have to figure out how to cancel this.


Why do you need paper statements? The epost bill will also show all your transaction details. As well, if you're already receiving paper statements, the statements should have a due date on them.


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## azrail (Oct 3, 2007)

everyone should be on the lookout for some changes this time of the year (anual revisions) but there may be a bit of a carry-over effect from the US subprime crisis with all cdn lenders getting a little tighter in their current policies (not just screening or implementation of the new upcoming FICO system)

- n.b some have received notices of privacy changes to their accounts (i;m thinking SPAM/marketing) while others have received new 'default' guidlines (ie - miss a payment and your % rate jacks-up to almost 30 points)

bottom-line - we all benefit ourselves & those that count on us by managing our credit to our advantage and not the companies who issue them - as someone jst posted prior, 'pay on time and in full' (if at all possible)

failing that, and presuming your credit is still good, shop around, many companies are aggressive with their into balance transfer options (some as low as 1%) and eventhough for only 6-12 months, you could still save a bit during that time

just my .02 - take care


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## MACinist (Nov 17, 2003)

They changed the statement look too just recently. Looks much better I find.


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## doole (Jan 6, 2008)

*Just a thought...*

They'll set it up for automatic payments, if you want.

Then, if they charge me any interest, I phone them up and say, "What, did you forget to pay yourself?"

Then, instead of stupid air miles, I get 1% of everything returned.

..._Everything_.

Then I put almost everything I spend on the Visa. It's like getting 1% off life itself. Really mounts up.

FWIW chris


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