TD Business Solutions Credit Card Review for 2022
Tricia has nearly two decades of experience in commercial and federal government lending. Her expertise is highlighted throughout small business loan content on Fit Small Business.
Nancy Fernandez is a Credit Card and Insurance Expert at Fit Small Business, specializing in business credit cards and business insurance.
This article is part of a larger series on Best Small Business Credit Cards.
The TD Business Solutions Credit Card is best suited to small to medium-sized businesses (SMBs). It’s a small business credit card that offers 1% cash back on purchases and $250 cash back via statement credit after spending $1,500 within 90 days after opening your account.
TD Business Solutions Credit Card
Intro APR
Regular APR
13.99% to 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Can earn 1% cashback rewards on purchases and an extra 1% cashback after redeeming enough rewards to an eligible TD Deposit Account
- Offers unlimited cashback with no rotating categories, no caps or limits as long as the credit card account is open and in good standing
Pros
- No annual fee
- No foreign transaction fee
- Offers unlimited cashback
Cons
- Has 3% balance transfer fee
- Charges a foreign transaction fee
- Doesn’t have any other credit card benefits
- Cell Phone Protection. Cardholders of the TD Business Solutions Credit Card can get reimbursement when your cellphone either gets stolen or damaged and your wireless phone bills are paid through your credit card.
- Roadside Dispatch. Can get access to 24/7 roadside service with the pay-per-user program of TD Business Bank
- Auto rental collision damage waiver. When using your TD Business Solutions Credit Card to rent a vehicle, you’ll receive built-in coverage for physical damage, vandalism, and theft, reasonable and customary towing.
Intro APR
Regular APR
13.99% to 23.99% Variable
Annual Fee
$0
Credit Needed
Good - Excellent
- Can earn 1% cashback rewards on purchases and an extra 1% cashback after redeeming enough rewards to an eligible TD Deposit Account
- Offers unlimited cashback with no rotating categories, no caps or limits as long as the credit card account is open and in good standing
Pros
- No annual fee
- No foreign transaction fee
- Offers unlimited cashback
Cons
- Has 3% balance transfer fee
- Charges a foreign transaction fee
- Doesn’t have any other credit card benefits
- Cell Phone Protection. Cardholders of the TD Business Solutions Credit Card can get reimbursement when your cellphone either gets stolen or damaged and your wireless phone bills are paid through your credit card.
- Roadside Dispatch. Can get access to 24/7 roadside service with the pay-per-user program of TD Business Bank
- Auto rental collision damage waiver. When using your TD Business Solutions Credit Card to rent a vehicle, you’ll receive built-in coverage for physical damage, vandalism, and theft, reasonable and customary towing.
Do you want to compare the features of one card to another? We’ve made it easy for you to do that—check off up to three cards on this page to add them to your cart. This will allow you to view the details in a side-by-side comparison.
Who the TD Business Solutions Credit Card Is Best For
- Business owners who want to earn cash back: The TD Business Solutions Credit Card allows you to earn cash back when you make purchases with the card.
- Business owners who already have existing accounts with TD Bank: Those who already have a savings or checking account with TD Bank can apply for the TD Business Solutions Credit Card. You’ll receive an additional 1% cash back after redeeming rewards into an eligible TD Bank account.
- Those with fair credit: Business owners can have a credit score as low as 650 when applying for a TD Business Solutions Credit Card.
How We Evaluate Cash Back Business Credit Cards
When grading cash back business credit cards like the TD Business Solutions Credit Card, we first consider the ongoing and introductory rewards. We also consider annual fees, introductory and ongoing annual percentage rates (APRs), and other card benefits.
Grading Criteria | Card Score | Highest Possible Score |
|---|---|---|
Ongoing Rewards | 20 | 30 |
Introductory Rewards | 10 | 20 |
Annual Fee | 15 | 15 |
Additional Features | 9 | 15 |
Introductory APR | 8 | 10 |
Ongoing APR | 8 | 10 |
Total Score | 70 | 100 |
TD Business Solutions Credit Card Fees
- Intro APR: N/A
- Ongoing APR: 13.99%, 18.99%, or 23.99% variable APR depending on credit score
- Balance transfer APR: 13.99%, 18.99%, or 23.99% variable APR depending on credit score
- Cash advance APR: 25.24% variable APR
- Balance transfer fee: $5 or 3% of the transfer, whichever amount is greater
- Cash advance fee: $10 or 5% of the advance, whichever amount is greater
- Minimum interest charge: $1
- Annual fee: None
- Foreign transaction fee: 3% per transaction in US dollars
- Late payment: Up to $40
- Return payment: Up to $39
TD Business Solutions Credit Card Rewards
- Earn $250 cash back in the form of a statement credit after spending $1,500 within the first 90 days after opening the account.
- Earn 1% cash back on purchases, plus an additional 1% after redeeming it into an eligible TD Bank account.
- Unlimited cash back with no rotating categories, no caps, or limits for as long as your credit card account is open and in good standing.
How to Make Payments on the TD Business Solutions Credit Card
There are three ways for you to manage your payments with the TD Business Solutions Credit Card:
- Online banking: You can make your TD Business Solutions Credit Card payments online through the TD Bank website.
- Via phone: Call TD Bank at (888) 561-0608 to process your credit card payments.
- Mobile app: TD Bank has a mobile app for both Apple and Android users that lets you pay bills, including your credit card).
TD Business Solutions Credit Card Additional Features
Cellphone Protection
If your wireless phone bills are paid through your credit card, you can be reimbursed if your cellphone is stolen or damaged.
Roadside Dispatch
TD Bank provides 24/7 roadside service with the pay-per-user program for TD Business Solutions Credit Card cardholders.
Auto Rental Collision Damage Waiver
When using your TD Business Solutions Credit Card to rent a vehicle, you’ll have coverage for physical damage, vandalism, theft, and towing.
Card Security
TD Bank, in collaboration with Visa, offers Visa Zero Liability—if your card is lost, stolen, or fraudulently used, you won’t be held responsible for unauthorized charges made with your account information.
Purchase Security
In addition, TD Bank offers protection for items purchased with your card that are damaged due to fire, vandalism, accidentally discharged water, or certain weather conditions within the first 90 days after purchase. Purchase Security can either replace, repair, or reimburse the eligible item.
Extended Warranty Protection
You’re given extended warranty protection of up to an additional year of coverage on selected items that are purchased with your card.
Pros & Cons of the TD Business Solutions Credit Card
| PROS | CONS |
|---|---|
| No annual fee: The TD Business Solutions Credit Card doesn’t have any annual fees. | Has 3% Balance Transfer Fee: When transferring a balance from another credit card to your account, you’ll be charged either $5 or 3% of the amount of each transfer, whichever is greater. |
| Offers unlimited cash back: There’s no cap on cash back rewards when purchasing qualified products with the card. | Foreign transaction fees: If you use the TD Business Solutions Credit Card to buy goods in another country, you’ll be charged 3% of each transaction in US dollars. |
| Signup bonus: The TD Business Solutions Credit Card has a signup bonus of $250 cash back―in the form of a statement credit―after you spend $1,500 within the first 90 days of opening an account. | Doesn’t have any other credit card benefits: Unlike other well-known credit cards, the TD Business Solutions Credit Card doesn’t offer any other unique features. |
TD Business Solutions Credit Card Alternatives
Chase Ink Business Unlimited®
The Chase Ink Business Unlimited® is this year’s top choice for both overall best small business credit card and best card for new businesses with no credit history. Their straightforward cash back rewards (at a fixed rate of 1.5% for every $1 spent on any business purchase) make it a viable option for those who love getting cash back.
Ink Business Unlimited® Credit Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Pocketing 1.5% cash back on every single purchase
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
Intro APR
0% Intro APR on Purchases
Regular APR
13.49% - 19.49% Variable
Annual Fee
$0
Credit Needed
Good, Excellent
- Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
Pros
- 0% introductory APR on purchases
- Unlimited cash back rewards on all purchases
Cons
- Introductory APR period doesn’t apply to balance transfers
- 5% balance transfer fee
- Charges foreign transaction fees
- Requires excellent credit to qualify
- Auto rental collision damage waiver: Coverage is primary—meaning it replaces any coverage your personal insurance might offer—when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the US and abroad
- Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
- Extended warranty protection: Extends the time period of the US manufacturer’s warranty by an additional year on eligible warranties of three years or less
American Express Blue Business CashTM
The American Express Blue Business CashTM is our choice for best overall cash back business card. It offers 2% cash back on all eligible purchases up to $50,000 per calendar year, then 1% after that. You won’t need to transfer your rewards over to your personal account as all earned cash back is credited to your statement automatically.
American Express Blue Business Cash™ Card
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Intro APR
0% on purchases
Regular APR
13.99% - 21.99% Variable
Annual Fee
No annual fee
Credit Needed
Good, Excellent
- Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months.
- Earn 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1% cash back earned is automatically credited to your statement.
- From workflow to inventory to floor plans, your business is constantly changing. That’s why you’ve got the power to spend beyond your credit limit with Expanded Buying Power.
- Just remember, the amount you can spend above your credit limit is not unlimited. It adjusts with your use of the Card, your payment history, credit record, financial resources known to American Express and other factors.
- 0.0% intro APR on purchases for 12 months from the date of account opening, then a variable rate, 13.99% - 21.99%, based on your creditworthiness and other factors as determined at the time of account opening.
- No Annual Fee
- Terms Apply
Pros
- 0% intro APR
- Welcome bonus
- Fixed rate rewards
- No annual fee
Cons
- Cash advance isn’t allowed
- Charges foreign transaction fees
- 2% cash back is capped at $50,000 in annual spending
- Expanded buying power: Enjoy flexible buying power, when your business needs it. Expanded buying power gives you the freedom to spend beyond your credit limit and help get business done. While the amount you can spend above your credit limit isn't unlimited, it adjusts with your use of the card, your payment history, credit record, financial resources known to us and other factors.
- Car rental loss and damage insurance: As a Card Member, You can be covered for damage to or theft of a rental vehicle in a covered territory when you use your eligible card to reserve and pay for the entire rental and decline the collision damage waiver at the rental company counter.
Capital One® Spark® Classic
The Capital One® Spark® Classic is our choice for best overall business credit card for fair credit. This card offers unlimited 1% cash back on all business purchases without a limit to how much you can earn. On top of this, the Capital One® Spark® Classic doesn’t charge any annual fees. However, this credit card has a high interest rate of 26.99%.
Capital One® Spark® Classic for Business
Fit Small Business's ratings are calculated by industry experts of our editorial team. Our grading rubric considers the type of credit card (such as cash back or travel), and the card's rates, fees, rewards, and additional features like insurance.
BEST FOR:
Fair credit business owners (580 to 669)
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Intro APR
N/A
Regular APR
26.99% (Variable)
Annual Fee
$0
Credit Needed
Average, Fair, Limited
- 1% cash back every time you swipe
- Build your business credit through responsible usage
- Issue employee cards for free
Pros
- Opportunity to build business credit
- Only requires fair credit
- No annual fee
Cons
- No 0% introductory APR
- No sign-up bonus
- High APR
- Purchase protection: Capital One will replace, repair, or reimburse you for eligible items in the event of theft or damage within the first 90 days of purchase.
- Extended warranty protection: You’ll get additional warranty protection on eligible items that are purchased with your business card, up to 1 year past the manufacturer’s warranty.
- Auto rental collision damage waiver: You’re covered for damage due to collision or theft when you rent an eligible car with your Capital One® Spark® Classic for Business card.
Bottom Line
The TD Business Solutions Credit Card is best for both business owners who have active TD Bank savings or checking accounts and those who currently have fair credit. One unique thing about this card is how much cash back you can get, especially if you have an active TD Bank account that you can connect it with. It also offers fraud and purchase protection benefits as well as travel benefits.
For more options, visit our Credit Card Marketplace.
