TD Business Solutions Card Review

Who is the TD Business Solutions Card for?

The TD Business Solutions Card is great for business owners looking to earn cash back on common expenses and enjoy a card with no annual fees. With 3% cash back on phone, internet, and cable, 2% cash back on dining and gas stations, and 1% cash back everywhere else, the TD Business Solutions Card makes it easy for business owners to earn rewards on common purchases.

This card also comes with no foreign transaction fee, making it easy for cardholders to travel abroad if needed. However, this card is not accompanied by as many travel benefits, so frequent travelers may want to consider other cards.

In short, the TD Business Solutions Card helps business owners reduce costs so that they can continue providing their business expertise to serve consumers. In conjunction with a nice signup bonus, what more reasons do you need to get the TD Business Solutions Card?

Signup Bonus

As part of its signup bonus, cardholders will earn $300 cash back after spending $3,000 within the first 90 days. This cash back feature can be especially helpful for business owners looking to expand their inventory or invest in their company since the high costs are offset by the $300 cash back bonus. 

As another rewarding introductory feature, TD offers a 0% APR for the first 6 months for new cardholders. With this low introductory APR, cardholders can continue running their business without having to worry about high monthly statements.

Rewards

The TD Business Solutions Card offers a generous rewards program by offering 3% cash back on internet, phone, and cable. We all know how expensive it can be to run a small business, but TD hopes to make it easier by reducing costs on common purchases. In addition, with 2% cash back on dining and gas, road trips and business dinners are no longer a worry for business owners. Lastly, with 1% cash back on everything else, business owners can enjoy the fact that they’re being rewarded for every purchase. 

To track the rewards earned by cardholders, TD uses a point system much like other credit cards. Points can be redeemed for cash back, gift cards, merchandise, and travel. If cardholders don’t want to redeem their points for gifts, they can also use it to help pay for their monthly statement. Cardholders must have at least 2,500 points in their account before they are allowed to redeem for cash back rewards. Business owners also don’t have to worry about reaching a cap on rewards points because the TD Business Solutions Card offers unlimited rewards. In turn, cardholders can continue paying expenses with the knowledge that they’ll be rewarded for their purchases. 

No Fees

An attractive feature about the TD Business Solutions card is that it doesn’t come with any annual fees or foreign transaction fees. As a result, cardholders don’t have to worry about incurring large fees when running their businesses. The lack of a foreign transaction fee also makes it easy for business owners to travel abroad if needed.

Services and Protections

The TD Business Solutions Card is also compatible with Apple Pay, Samsung Pay, and Google Pay. So, cardholders can also use virtual contactless payment methods with their TD Business Solutions Card.

Cardholders are also protected from fraudulent purchases under Visa’s Zero Liability service. For unauthorized purchases, cardholders hold zero liability and do not need to pay for fraudulent expenses.

In case you ever lose your card, TD Bank also offers instant credit card replacement at any open TD Bank. With locations all across the United States, cardholders can easily replace a lost card if they need to. In addition, they can quickly freeze their card accounts through TD’s website and mobile apps.

Lastly, the TD Bank Visa card comes with contactless payment options built-in. At select payment terminals, cardholders can tap their credit card and pay instead of swiping or inserting their card. This feature makes it convenient for cardholders to pay quickly and hassle-free. The contactless payment transactions also come with a one-time security code that is unique for every transaction. This added feature prevents payment information from being used in the future for unauthorized purchases. 

Cautions

For redeeming rewards points, it’s important to remember that a minimum of 2,500 points is required for any cash back rewards. And while TD doesn’t have a cap on the rewards points cardholders can earn, cardholders may forfeit all their rewards points if they file for bankruptcy. Similarly, if a card account is closed, cardholders have under 60 days to redeem their points before everything is forfeited.

Cardholders should also know that these purchases don’t qualify for cash back rewards:

• Purchase of traveler's checks
• Lottery tickets
• Gambling chips
• Wire transfers

Likewise, superstores and warehouses will only qualify for 1% cash back even if they also serve as gas stations. 

The TD Business Solutions Card comes with a late fee of up to $37, so it is in your best interest to pay statements on time. Although this card doesn’t come with a penalty APR, TD will evaluate the regular purchase APR based on the creditworthiness of the individual. Repeated failure to pay on time may result in a higher regular purchase APR and balance transfer APR.

Cardholders should also take note that there is no introductory balance transfer APR. So, when transferring funds from other bank accounts to the TD Business Solutions account, cardholders will incur a fee.

Conclusion

The TD Business Solutions Card is great for business owners looking for a simple rewards program to supplement their business expenses. This card does come with certain services and benefits, however, this card lacks many other services provided by other business credit cards.  But, the lack of fees accompanying this credit card is also a big benefit that can reduce the headache involved in paying monthly statements. So, for a simple business rewards credit card, the TD Business Solutions Card is a good option to consider.