Review of TD Bank’s Business Solutions Credit Card | Fora Financial Blog
Review of TD Bank’s Business Solutions Credit Card
August 07, 2018

Review of TD Bank’s Business Solutions Credit Card

There are numerous aspects you should consider when choosing a credit card for your business. Variables such as interest rates, fees, and rewards, among other factors, can have a major impact on your business’s financial health.

Fortunately, there are many excellent business credit cards to choose from, but you should take the time to compare all your options. In this article, we’ll focus on TD Bank’s Business Solutions Credit Card, so that you can determine if this is the right option for your business


The primary benefit of TD Bank’s Business Solutions Credit Card is the company’s “3-2-1” rewards program, which provides 3 percent cashback on phone, internet, and cable costs. It also offers 2 percent cash back on dining and gas station purchases, as well as 1 percent cash back on all other purchases.

Additionally, TD Bank is currently offering $300 cashback if your business spends $3,000 within the first 90 days of opening the card. These wide-ranging benefits are particularly appealing to businesses with high monthly expenses. As long as your account remains in good standing, there won’t be any caps or limitations to the rewards program. Although the costs of maintaining an open line of credit with this card is rather high, many business owners believe the benefits are worth the costs.

Application Process

Applying for TD Bank’s Business Solutions Credit Card is quite simple. The application process begins on their website, where they’ll ask you whether or not you’re a TD Bank customer. If you aren’t a customer, you’ll need to create an account once your application is approved. If you are a TD Bank customer, the process will be streamlined. The potentially 9-step process is a bit more extensive than some of the card’s alternatives but can still usually be completed in around 15 minutes or less.


Generally speaking, TD Bank’s Business Solutions Credit Card is ideal if you have a “good” credit score. This means that your credit score falls between 670 and 739. In addition, TD Bank will also consider your credit history, personal information, and your business’ overall financial standing. If you have excellent credit scores you’ll likely be able to qualify, but you may be able to find better options elsewhere. Due to this, you should research a few other options prior to applying, to make sure you’re getting the best possible card.

Fees and Limitations

The primary downside to TD Bank’s Business Solutions Credit Card is that it has several fees and limitations. Although there are no annual fees or foreign transactions fees, there’s a late payment fee of up to $37. There’s also a cash advance fee of $10 (or 5 percent) and a minimum interest charge of $1.

The card has an introductory APR ranging from 14.74 percent to 24.72 percent, depending on your current creditworthiness. This APR range is also the same for balance transfers.

Possible Uses

Because TD Bank’s card has an extensive rewards program, it will present you with several possible uses. The 3 percent cash back that you can get on phone, internet, and cable services, makes this card an excellent option for paying for those utilities. Or, if you travel frequently for business meetings, using the 2 percent cash back on dining and gas can be beneficial.

As we already mentioned, the card offers 1 percent cash back on all other purchases, making it useful when paying for your monthly expenses. The card can be used to purchase new equipment, pay your rent, and afford other costs. Since the APR is relatively high, paying down the card on a monthly basis is generally advised.


Overall, TD Bank’s Business Solutions Credit Card is a good option for disciplined business owners. As long as you can pay your credit card bill before interest begins to accumulate, this card can significantly improve your monthly cash flow. With no annual fees and an extensive rewards program, this card may be a great solution for you.

Fora Financial

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Andrew Paniello
Post by:
Andrew is an experienced writer with a degree in Finance from the University of Colorado. His primary interests are investing, entrepreneurship, and economics.