TD Business Solutions Credit Card review | finder.com

TD Business Solutions Credit Card review – October 2018

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A credit card for small business with cashback rewards and a six-month 0% intro APR period on purchases.

30-second take

  • Get this card if you want cashback rewards and a bonus offer.
  • Pick something else if you want higher cash back, or a card with intro APR on balance transfers.
  • Apply with an excellent credit score of 740 or higher.
Product NameTD Business Solutions Credit Card
Card TypeVisa
Annual Fee$0
APR (Annual Percentage Rate) for Purchases14.99%, 19.99% or 24.99% variable
Introductory Purchase APR0% for the first 6 billing cycles (then 14.99%, 19.99% or 24.99% variable)
Balance Transfer Fee$5 or 3% of the transaction, whichever is greater
Cash Advance Rate27.24% variable
Foreign Transaction FeeNone
Cash Advance Fee$10 or 5% of the cash advance amount, whichever is greater
Interest Free PeriodUp to 25 days
Late Payment FeeUp to $37
Returned Payment Fee$39
Rates & FeesRates & Fees
Minimum Age18 years of age
Reward Value per Dollar1% cash back

The basics

Small businesses that rely heavy on phone, Internet and cable services, as well as gas and dining purchases, may find the TD Business Solutions Credit Card is a solid option for earning rewards. These categories earn you most points, to redeem for several different rewards.

The perks

  • Signup bonus.

    Spend $3,000 in the first 90 days from your account opening and get $300 cash back. This offer expires on October 31, 2018.

  • Cash back.

    Get 3x points on phone, internet and cable services. Also get 2x points on dining and at gas stations, and 1x point on everything else. You can redeem points for cash back, gift cards, merchandise and travel. When you redeem for cash back, one point has a value of $0.01 or 1%.

  • Intro APR period on purchases.

    Use a 0% intro APR period on purchases for the first 6 billing cycles of card membership. After that, your APR reverts to a variable 14.99%, 19.99% or 24.99%.

You’ll also like

  • No annual fee.

    You’ll get all the perks this card offers without paying an annual fee.

  • No foreign transaction fee.

    Traveling abroad with this card can save you money, with no extra fees for transactions made outside of the US. Other cards have up to a 3% fee for each transaction.

  • No penalty APR.

    Other cards may apply a penalty APR of 29.99% on your account if you miss a payment, but not this card. If you’re late, you’ll only pay a late payment fee.

  • Card security.

    Your card is protected with chip technology, zero fraud liability against unauthorized charges and an instant card replacement if it’s lost or stolen.

What to watch out for

  • No intro APR period on balance transfers.

    The card only offers its intro APR period on purchases. If you’re stuck paying a high APR on another card, look for a balance transfer card to help you out.

  • Credit limit.

    If you apply for this card with average credit, you could be stuck with a low $500 credit limit. If you plan to use this card for things like groceries and everyday expenses, you might need a higher maximum.

  • Other fees.

    Late payments come with up to a $37 fee, and returned payments with a $39 fee. For cash advances, you’ll pay either $10 or 5% of the transaction, whichever is greater.

Does this card report to personal credit?

Yes, the TD Business Solutions Credit Card reports your card activity to all three major credit bureaus — TransUnion, Equifax and Experian.

High credit utilization and late payments can negatively affect your credit. On the other hand, you could see your credit score rise if you make on-time payment and work to pay down your debts.

Consider other cards if …

  • You want a similar card from another bank.

    The no-annual-fee SimplyCash® Plus Business Credit Card from American Express offers 5% cash back on wireless phone services and at supply stores, and 3% cash back on select categories. Once you reach $50,000 in a calendar year, your cash back drops to 1% in these categories. This is the cash back rate on all other purchases. Additionally, you’ll get a longer intro APR period on purchases than the TD card.

    Check out the Ink Business Preferred℠ credit card from Chase where you get 3x points on cable and phone services, Internet, travel, shipping and advertising purchases made with social media sites and search engines up to $150,000 per calendar year. For all other categories of purchases, you’ll earn 1x point.

  • You want unlimited cash back.

    The Capital One® Spark® Cash for Business offers unlimited 2% back on everything you buy.

  • You want intro APR period on balance transfers.

    Consider the Blue Business℠ Plus Credit Card from American Express, which offers one of the longest intro APR periods on balance transfers and purchases. In addition, you’ll earn membership points on everything you buy.

Compare business credit cards

Updated October 22nd, 2018
Name Product APR (Annual Percentage Rate) for Purchases Introductory Purchase APR Annual Fee
None (Charge Card)
$450
New cardholders can earn 75,000 Membership Rewards® bonus points by spending $10,000 on purchases for the first 50,000 points and then another $10,000 for the next 25,000 points on their new card in the first 3 months.
None (Charge Card)
$0 annual fee for the first year ($250 thereafter)
This charge card gives you the option to pay in full each month or to carry a balance for up to 60 days with no interest.
20.24% variable
$0 annual fee for the first year ($175 thereafter)
Earn 50,000 Membership Rewards® points after you spend $5,000 in qualifying purchases on the Card within your first 3 months of Card Membership.
14.24%, 19.24% or 21.24% variable
0% for the first 9 months (then 14.24%, 19.24% or 21.24% variable)
$0
Save on interest with a 0% intro APR on purchases for 9 months; after that your APR will be 14.24% - 21.24% variable.
14.99% to 20.99% variable
0% for the first 12 months (then 14.99% to 20.99% variable)
$0
$500 bonus cash back after you spend $3,000 in the first 3 months.
17.74% to 22.74% variable
$95
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening. That's $1,000 toward travel rewards when you redeem through Chase Ultimate Rewards®.
17.74% to 24.74% variable
$0 annual fee for the first year ($99 thereafter)
75,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening with your Marriott Rewards Premier Business credit card.
24.74% variable
$0
Get the credit you want for your business, and unlimited 1% cash back on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5X miles per dollar on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2 miles per dollar on every purchase, every day.
14.74%, 18.74% or 22.74% variable
0% for the first 9 months (then 14.74%, 18.74% or 22.74% variable)
$0
Unlimited 1.5 cash back on every purchase, every day.
18.74% variable
$0 annual fee for the first year ($95 thereafter)
Unlimited 2% cash back from Spark Cash could mean thousands of dollars each year going back into your business. No minimum to redeem.
17.74% to 24.74% variable
$0 annual fee for the first year ($95 thereafter)
50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.
17.74% to 24.74% variable
0% for the first 9 months (then 17.74% to 24.74% variable)
$99
Earn 2x points on Southwest® purchases and 1x point on all other purchases. Plus 6,000 anniversary bonus points.
17.99% to 25.99% variable
$0 annual fee for the first year ($99 thereafter)
For a limited time, earn 70,000 American Airlines AAdvantage® bonus miles after making $4,000 in purchases within the first 4 months of account opening.

Compare up to 4 providers

What size business is the TD Business Solutions Credit Card good for?

Small to midsize businesses that spend a lot of money on phone, Internet, cable services, dining and gas could find this card to be a solid addition to their business.

Let’s say you spend $1,000 on phone, Internet and cable services per month, $2,000 on dining and gas, and $3,000 on everything else. With this card, you’ll earn $1,200 cash back annually. There’s no cap and no limits on the points you can earn, so spending more lets you earn more without worrying about a cutoff amount.

What should I know before I apply?

To apply for the TD Business Solutions Credit Card, you must be at least 18 years old and a resident of one the following states:

  • Connecticut
  • Delaware
  • Florida
  • Maine
  • Maryland
  • Massachusetts
  • New Hampshire
  • New Jersey
  • New York
  • North Carolina
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • Vermont
  • Virginia
  • Washington DC

Also, you’ll need to provide information, such as:

  • Owner’s personal information.
  • Business name and address.
  • Years in business and number of employees.
  • Annual revenue.

What credit score do I need?

The TD Business Solutions Credit Card is a premium cashback business credit card. You’ll want to apply with an excellent credit score of 740 or higher and a solid revenue history for lower rates and a higher credit line.

What do customers say about the TD Business Solutions Credit Card?

TD Bank has been accredited by the Better Business Bureau since 2002 and it’s rated with an A. Most customers at the BBB website complain about poor customer service and hidden fees. Make sure you read the card’s terms to avoid unpleasant surprises.

How to apply for the TD Business Solutions Credit Card?

  1. Go to the TD Bank website and select the TD Business Solutions Credit Card. Click Apply now.
  2. Fill out the form with personal and business information.
  3. Review your application and submit it.

How long will it take to get my TD Business Solutions Credit Card?

You’ll receive a decision in the mail within 7 to 10 business days whether you apply online, by phone or in person. If you’re approved, your credit card welcome information and the card arrives with the decision.

I got the card. Now what?

  • Download the TD Bank mobile app for US. With the app you can pay your bills, monitor your account, find an ATM or a bank branch near you and more.
  • Make timely payments. Late payments come with a fee of up to $37. However, unlike most other cards, you won’t get a penalty APR for missing a payment.
  • Contact customer service. Whenever you have an issue or a question regarding your credit card, call 888-561-8861 for TD Bank customer support.

Bottom line

If you’re looking for a simple, no-annual-fee card for your business, the TD Business Solutions Credit Card could be a good choice. You’ll get points for your purchases to redeem for cash back, gift cards, merchandise or travel rewards. Furthermore, you’ll get an intro APR period on purchases to load up on inventories and supplies.

However, this card is not available in every state. If you live in a state where TD Bank doesn’t operate, or if you simply want to look for another card, feel free to check out other business credit cards to find the right one for your financial needs.

Frequently asked questions

Images: td.com

Kliment Dukovski

Kliment Dukovski is a writer who specializes in global financial markets and personal finance, with a focus on credit cards. His main goal is to deliver honest and accurate information to help you make the right financial decision. When he's not writing about finance-related subjects, he writes sci-fi stories.

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