Toro TILA

Toro Tila, as filed by TD Bank, carries a 29.99% purchase APR and no annual fee. The purchase rate sits at roughly the 74th percentile of the 4,587 agreements indexed here.

The disclosed terms

TD Bank submitted the terms for Toro Tila to the CFPB's agreement database; this is what they contain. The filing runs four pages.

The disclosure covers a purchase rate, an annual fee line, a late payment maximum and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

The purchase APR against the corpus

Set beside the rest of the index, the purchase APR of 29.99% lands at the 74th percentile; it is dearer than the typical filing.

What the rate means in dollars

Carry $1,000 on this card for a year without paying it down and the purchase rate alone generates roughly $350 in interest.

On a median-priced agreement from this index (21.99%) the same $1,000 would run about $246 a year, so this card costs in the region of $104 more annually for the identical balance.

Per statement cycle that is on the order of $24.95 on $1,000, which is the number that actually shows up on a bill.

There is also a floor: the filing sets a minimum interest charge of $1, so any cycle that accrues less than that is billed at $1 anyway.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

The fee structure

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.

Paying in full

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing.

Where interest applies at all, the filing bills at least $1. On a tiny balance that floor can dwarf the rate itself.

What a missed payment costs

On the fee side, a late payment can cost up to $40, which is around the 72nd percentile here.

The issuer's other agreements

There are 39 filings from TD Bank in this index. Their disclosed purchase rates run from 16.74% to 29.99%, and this one at 29.99% is more expensive than 6 of them.

On fees, 34 of the 36 sibling filings that disclose an annual fee also set it at zero — this one is among them.

What you cannot learn from the filing

The disclosure parsed here does not state anything about cash advances, balance transfer terms, a foreign transaction fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

It is worth being explicit about scope: these filings record terms and pricing. They say nothing about rewards programmes, cardholder benefits, promotional offers or who the issuer will approve, and this review does not speculate about any of it.

The document itself

The filed PDF is linked from this page and runs four pages. It is the authority for every figure summarised above; where this page and the document disagree, the document is right.

In short

At 29.99% the purchase rate is close to ordinary for this corpus; nothing in the rate table sets this filing far apart from its peers. The absence of an annual fee means the rate is the only thing that can make this card expensive.