Common use of Eligibility for an Unsecured Card Clause in Contracts

Eligibility for an Unsecured Card. TD conducts an automated review of Secured Credit Card Accounts to determine eligibility for graduation to an unsecured credit card account. Graduation will depend on, among other things, how you use your Credit Card Account, whether you have established a responsible payment history on the Credit Card Account, and whether you have responsibly managed your other credit with TD Bank and/or other creditors. If we determine that you satisfy the criteria for graduation, we will notify you and graduate the account. You need not take any action. Upon graduation, we will unlock your Collateral Account so that you are permitted to access and use the security deposit funds in that account. Also, upon graduation, if less than a year has passed since you paid your last annual fee on the Secured Credit Card Account, we will refund a prorated amount of that annual fee according to the number of cycles left in the year following that annual fee. The refund will appear on a subsequent monthly statement. Your credit limit and your APR will remain the same. All other terms and conditions will also remain the same.