Target Online Terms & Agreement

Target Online Terms & Agreement 04 07 2024, as filed by TD Bank USA, carries a 21.45% purchase APR and no annual fee. Against the 4,587 filings on this site, that rate lands around the 46th percentile.

What the document actually states

What follows is drawn entirely from TD Bank USA's CFPB filing for Target Online Terms & Agreement 04 07 2024. It is issued on the Mastercard network and the filing runs seven pages.

The disclosure covers a purchase rate, a cash advance rate, an annual fee line, a late payment maximum and a grace period. It is silent on a balance transfer rate, a penalty rate and a foreign transaction fee.

The purchase rate in context

At 21.45%, the purchase APR falls at roughly the 46th percentile of the 2,280 filings indexed here, which is unremarkable against the rest of the set.

Because the rate is variable, the figure quoted is tied to an index and will drift with it. Nothing here is a fixed commitment.

The cost of carrying a balance

At the disclosed purchase APR, $4,000 revolving for a full year costs something like $957 in interest.

Priced at the median of 21.99%, that balance would generate about $983 in a year — so this agreement comes in around $27 cheaper for the same debt.

Month to month it reads as about $71.12 per cycle on that balance.

Small balances do not get a proportionally small bill — the agreement imposes a $1 minimum interest charge in any month where interest applies.

Treat this as an illustration of what the disclosed rate does, not as a projection of a real account, which would be shaped by payments and by the fees described elsewhere in the filing.

Charges beyond interest

The annual fee is $0. Roughly 75% of filings here that state a fee state zero, so the absence of one is unremarkable in this market.

For cash advances the filing discloses a cash advance fee of $10 or 3% of the advance, whichever is greater and a cash advance APR of 22.65%. The premium over purchases is 1.2 percentage points. Advances under roughly $333 are charged the flat $10; larger ones are charged 3%. The grace period described below generally does not extend to cash advances, so interest on them usually begins immediately.

What a missed payment costs

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

The grace period

Purchases carry a 25-day grace period: pay the statement in full inside it and the purchase rate never applies.

A minimum interest charge of $1 applies in any cycle where interest is due, which makes very small revolving balances disproportionately expensive.

Inside TD Bank USA's filed lineup

10 separate TD Bank USA filings appear in the corpus. The issuer's own range is 19.65%–31.9%. At 21.45%, this agreement is dearer than 1 of its siblings.

What is outside the disclosure

Absent from the captured terms: balance transfer terms, a foreign transaction fee and penalty pricing. The original document is the place to look for any of these.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

The document itself

The original filing, 7 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

21.45% is an unexceptional purchase rate in this collection, and the rest of the terms follow the same pattern. Because there is no annual fee, everything depends on the revolving behaviour: used as a payment instrument and cleared monthly, this agreement costs nothing.