Bottom-of-the-barrel rewards rate
Unfortunately, aside from the sign-up bonus, you don’t get much in the way of rewards outside of the 1:1 general rewards rate. If you are looking to earn some big rewards, keep looking. You’ll find other cards that offer 2 to 3 percent bonus points on spending categories such as gas stations and restaurants, as well as sign-up bonuses worth $250 or more.
Variety of redemption options
This card’s redemption options are pretty good. Your points can be redeemed on a variety of categories, including airline tickets, hotels, car rentals and merchandise. Points don’t expire, there are no limits to how many points you can earn and there are no blackout dates on travel rewards.
Zero percent introductory APR
The card does offer a 12-month zero percent introductory APR on balance transfers. This is an exceptionally long period for a card in the business category. A lot of business cards don’t offer an introductory APR, and the introductory periods that exist are typically shorter than nine months. If you need to consolidate debt from high-APR accounts, the TD Business Solutions card might be your natural choice. Keep in mind, however, that the balance transfer fee is 4 percent, which is on the high side.
High regular APR
Unfortunately, the regular APR on the TD Business Solutions card is one of the highest among the cards we reviewed in the business category. The card offers a variable rate that starts at a high 13.24 percent and ranges up to 23.24 percent. With the high interest rate and poor rewards rate, there are few reasons we would recommend the TD Business Solutions card over other business credit cards. The interest rate is too high to serve as an optimal tool for managing cash flow, and there are far better business rewards programs out there.
Account management features
The card does come with some useful features to help business owners manage expenses. TD Bank offers accounting and record-keeping tools, and allows you to track and keep separate business and personal expenses.
Reasons to get it:
- You want to consolidate debt from high-APR accounts.
- You’re more interested in simplicity than awards.
- You want a business card that doesn’t charge a fee for employee accounts.
How to use it:
- Avoid redeeming awards on merchandise or most low-denomination gift cards, as the redemption rates are not good.
- Avoid using this card abroad, since it charges a 3 percent foreign-transaction fee.
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