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What is a credit history?

Your credit history is a record of your ability to borrow and repay loans on time. It is a key piece of information that a financial institution will review when considering whether to grant you credit (e.g. a credit card, a loan, a line of credit or a mortgage). It is important to understand how credit works and to build a good credit history. A good credit history will help you borrow money in the future.

Why is it important?

A good credit history and corresponding credit rating show your ability to repay any money you have borrowed on time. One or more missed or late payments can result in a bad credit history, affecting your credit rating, and making it difficult for you to borrow money in the future.

To build a good credit history, you need to apply for credit and demonstrate that you can use credit responsibly. One of the best ways to start building your credit history is to apply for a credit card. Credit cards give you the ability to charge your purchases, rather than having to pay for them with cash or debit right away. Using a credit card responsibly (i.e. paying on time and not going over your credit limit) shows that you are able to manage your cash flow, which demonstrates to lending institutions that you are credit worthy.

Credit cards feature many advantages over other payment methods, such as protection against fraudulent charges1.

However, to fully enjoy the benefits and features of a credit card, it is important to use it responsibly.

How does credit card billing work?

Use your credit card to pay for purchases. Each month, the financial institution that issued your credit card sends you a statement telling you how much you spent on your credit card, and the minimum amount you must pay. If you do not pay the balance shown on your statement in full, then any grace period that may apply to your purchase transactions will no longer apply and your purchases will be subject to interest charges. Cash Advances made on your Account are always subject to interest charges. These interest charges will then be added to your outstanding balance. Interest rates for credit cards are often higher than for other types of credit, such as loans or lines of credit. So it’s important to use credit cards carefully and pay the balance in full each month. But if you cannot pay the full balance amount, you must make the Minimum Payment by the Payment Due Date that shows on your statement.

Credit reporting agencies

It is important to know what your credit report says (i.e. the report of your credit history). If you need a copy of your credit report, you can contact Equifax or TransUnion, the two main credit reporting agencies (also known as Credit Bureaus). These credit reporting agencies maintain a record of your credit history.

1 See the applicable Cardholder Agreement for information on fraud and unauthorized transactions.

Request a copy of your credit report

How to Apply

To apply for a TD Credit Card, visit your local TD Canada Trust branch. Make sure you bring the following with you:

  1. Proof that you are the age of majority in the province/territory where you reside, such as: Permanent Resident Card, or Confirmation of permanent residence (IMM Form# 5292), or Temporary immigration permit (IMM form# 1442, 1208, 1102)

  2. Plus one of the following documents: Valid Passport, Canadian Driver’s License, or Canadian Government Identification card


Other identification may be acceptable or required.

Your financial literacy is important to us

Here are some helpful resources that provide general information about credit cards and credit reports.

Regain control of your credit

A secured TD Credit Card can help you repair your credit, while still maintaining the freedom and convenience of access to credit when you need it. Plus, take advantage of our Everyday Finances tips and tools to help you get your credit and finances back on track.

What is a Secured Card?

A secured TD Credit Card is a TD Credit Card that is secured by funds you deposit with us. The credit limit established for your Card will depend, among other things, on the amount of your deposit. We hold the money you deposit as security for the Card.

Depending on your situation, you can secure a wide range of TD Credit Cards.

View our secured and unsecured Card options

TD has a range of credit card products to help meet your needs. Choose from a number of reward programs on select TD Credit Cards, such as cash back and travel rewards.

TD First Class Travel Visa Infinite* Card

TD Platinum Travel Visa* Card

TD Rewards Visa* Card

TD Cash Back Visa Infinite* Card

TD Cash Back Visa* Card

TD Emerald® Flex Rate Visa* Card

Find out more about our credit cards

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