How to Choose a Credit Card and Not Get into Debt

Credit Cards

Almost everyone has credit cards tightly in modern life. A credit card is a useful tool and a financial airbag, but its proper use depends on the holder’s self-discipline. Together with TD Bank we tell you what to look for when issuing a card, and why it is beneficial to use a 110-day-without-interest credit card.

Grace period

Grace period – the ability to legally avoid paying interest. In most banks, it is 50 days: 30 days to make purchases with a card and 20 days to pay off debt. Debt must be paid on time and in full. Otherwise, high interest is accrued, which will have to be paid. Unlike other banks, TD Bank Routing Number offers its customers a long grace period. The name of the credit card is “110 days without interest” saying – the card allows you to make daily purchases for as much as four months without any overpayments and additional interest. The first purchase is the starting point of the grace period without interest. Each month, a minimum loan payment is required – 4% of the current debt amount. Once you pay the full amount of the debt, the grace period will resume, and the card will again be available for purchases on favorable terms. In addition, the grace period without interest affects money transfers and cash withdrawals.

Credit limit

Credit limit – the maximum amount of money that the bank is ready to lend to the client. The limit consists of various indicators and factors: age, place of work, income, length of service, property, credit history. If desired, the client can increase the approved limit, but subject to a number of conditions: frequent use of credit cards, payment of everyday purchases, timely payments and the absence of delays in payment. The card “110 days without interest” gives a large credit limit – up to 600,000 dollars. In case of unforeseen situations or unplanned purchases, you do not have to borrow from friends or wait until your salary. The card will be able to quickly help out, and returning borrowed funds in 110 days will not be a particular problem.

Cash withdrawal

Cash withdrawals are another important consideration when choosing a credit card. However, most often banks charge a commission for this operation and it becomes unprofitable to use a credit card for these purposes. Also, some banks do not have a grace period when withdrawing cash, and they immediately begin to charge large percentages. There are banks with interest-free cash withdrawals, but in this case there are limits on small amounts. With a credit card “110 days without interest”, you can withdraw up to 600,000 dollars a month and send transfers to other cards in the month of issuing the card and the whole next month.

Loyalty Programs and Bonuses

Discounts and bonuses on credit cards come in many forms. For “110 days without interest” credit card holders, special discounts and cashback are provided from partners of the bank and Mastercard payment system. You will be able to take part in loyalty programs from partners. Travelers will be attracted by offers with discounts on airline tickets and home reservations and shopaholics with discounts at online stores. The full catalog of partners is presented on the TD Bank website. Convenient filtering by category is available.


Service – the annual cost of using the service. Service charges are debited once a month. Most banks offer a free credit card service in the first month. However, then the conditions are tightened, and customers are forced to pay a commission, which varies from 600 to 6000 dollars per year. A significant advantage of the card “110 days without interest” is a free service, which applies to the entire duration of the card. The offer is limited. You need to have time to apply for a card.

Design and delivery

110 days without interest credit card is easy to get without loss of time and paperwork. An application for a card is made out on the site. After two minutes, the client finds out the decision of the bank. If the answer is yes, the card can be obtained either at the bank’s office or you can arrange free delivery by courier in any city. Upon receipt, you will need a passport.

Get a 110 days interest-free credit card ⇒

General License of the Bank of America No. 3292 dated February So that the credit card does not become a source of problems and is comfortable to use, we recommend that you observe two basic rules:

● Carefully consider the need for each purchase. Impulsive spending is the main enemy of a prudent approach to finance. Remember that credit money is not yours and you will have to repay it. Spend exactly as much as you can give.

● Pay debts on time. Then there is no risk of getting interest and fines. If you can repay the debt before the end of the grace period, be sure to use it. The advice is especially relevant if the payment date falls on weekends or holidays, as the bank may not process the transaction immediately.

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