Posted by Chuck on January 26, 2020
Credit Cards

Published on January 26th, 2020 | by Chuck

13

Ally Cashback Credit Card Being Changed to the TD Cash Credit Card

Ally teamed up with TD Bank to offer the Ally CashBack credit card. This was discontinued for new applicants in June 2019. Now, TD Bank is product changing these cards to the TD Bank Cash Credit Card.

  • Card earns at the following rates:
    • 3% cash back at restaurants
    • 2% cash back at grocery stores
    • 1% cash back on all other purchases
  • 0% foreign transaction fee
  • No annual fee

The TD card is only available in select states, but I suppose anyone with the Ally CashBack card will be changed over to the TD Cash Credit card.

Hat tip to reader Patrick



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Duke I.
Duke I.

I would canceled the card immediately before dealing with TD bank. They need to work on customer service and its long hold time to talk to an agent.

DT
DT

At least the card portfolio will never be Comenity

Tina
Tina

By all means, take a stand and whittle away your average age of accounts by canceling a no-AF card.

I’m sure TD Bank will miss you as a customer.

Ace
Ace

Yes and TD Bank is open 7 days a week in my area so that’s good customer service to me. Customer service would probably better if a person called their local branch directly as I have never had trouble with the local service. Their website is not great but it does what is needed.

Duke I.
Duke I.

@Tina Even when a card is closed it is still reported for 7- 10 years. Moveover, I don’t think anyone just open 1 card per year. Most people with good credit go on a app spree and open multiple cards at once. One card out of several others that were opened at the same time won’t affect AAoA.

Jeff H
Jeff H

Yawn. 3% + Restaurant Cards are abundant.. Groceries cards at 2% or better are all over the map. The only attraction is 0% foreign transaction fee for those that travel outside USA.

Kent
Kent

Practically identical to the Capital One Savor One card.

Cjrmets
Cjrmets

So because one bank has a product, no other bank should have an equal, competing product? Perhaps some people prefer TD. I know nobody is happy about the triple HP that Cap 1 does on all their cards. The more the merrier.

Ace
Ace

I would never do business with Capital One. They are predatory and beyond that they pull all 3 credit reports to approve for their cards, no thanks. There have also been articles about how they prey on low income people as a corporate policy

. I appreciate that they give some people credit who could otherwise not get it, but they often overextend and ruin said people with court judgements and forced bankruptcy.

G
G

What about people who have both cards? Am I going to end up with 2 TD Cash cards? I haven’t seen any DP yet indicating if that’s a possibility.

IXO
IXO

What’s weird is that TD Ameritrade was bought by Charles Schwab and will be changing to to Charles Schwab soon. Maybe this credit card doesn’t fall under that?

TL
TL

TD Bank is a different company from TD Ameritrade

Sam
Sam

They probably didn’t get much sign up.

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