TD Bank's Payment Plus Credit Card Rewards Customers for Financial Responsibility

CHERRY HILL, N.J. and PORTLAND, Maine, Feb. 8, 2011 /PRNewswire/ -- As saving and money management continue to be an important priority for consumers, TD Bank, America's Most Convenient Bank®, is introducing its TD Payment Plus(SM) Credit Card, which helps customers who carry a balance manage their money by offering rewards for responsible credit card payment behavior. In addition to granting a standard interest rate, the card gives users the opportunity to receive a monthly credit provided they make a payment of at least 5% of their outstanding balance by the payment due date. The new product emphasizes TD Bank's commitment to offering smart financial tools and tailored programs to consistently meet customers' needs.

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The new TD Payment Plus Credit Card benefits consumers by:

• Helping them to take responsibility for interest charges and debt obligations
• Providing flexibility – they can choose to make a larger payment and get an interest-charge savings without getting locked into payment terms that may not be right for their budget
• Rewarding them for paying down balances

The TD Payment Plus Credit Card allows customers to have control over how much they choose to pay each month, while offering them the convenience of automatic rewards if they make a payment larger than the minimum balance. A person who pays 10% or more of their balance will get a statement credit for 50% of that month's interest charges, and consumers who pay off 5% - 9.99% of their balance will receive a statement credit worth 25% of that month's interest charge.  

Savings will be applied as a credit on the following month's statement. With no-annual-fee, the card promotes TD's commitment to providing simple and easy solutions that motivate, educate and incent customers to save.

"It's all about promoting financial fitness and giving customers the choices they need to help them better manage their money," said Michael Copley, TD Bank Executive Vice President. "TD's Payment Plus Credit Card empowers consumers to take responsibility for their interest charges and current debt obligations, while rewarding them for doing so."

Today's economic environment has influenced consumers' interest in finding new ways to save money. "TD Bank is working to offer customers choices for their money management," added Copley. "The hassle-free card is a unique credit card that helps customers save money, while also paying down their monthly balance."

Consumers can apply by visiting TD Bank or simply by calling 1-888-339-5228 or 1-888-561-8861. For more information, visit www.tdbank.com/creditcards.

The TD Payment Plus Credit Card is powered by Paymentflex Technologies LLC.

About TD Bank, America's Most Convenient Bank®

TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the United States, providing customers with a full range of financial products and services at more than 1,250 convenient locations from Maine to Florida. On September 30, 2010, The South Financial Group, Inc. was acquired by TD Bank Group, and its subsidiary Carolina First Bank merged with TD Bank. Carolina First Bank will continue to operate under the trade names Carolina First Bank in North and South Carolina and Mercantile Bank in Florida until conversion and rebranding in 2011. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. Carolina First Bank and Mercantile Bank are trade names of TD Bank, N.A. For more information, visit www.tdbank.com/paymentplus.

TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD." To learn more, visit www.td.com.

SOURCE TD Bank