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Managing Business Finances Better with TD Business Credit Card
Separate personal and business expenses, track spending with ease, and unlock rewards.
For small business owners, managing expenses is crucial. Whether you're managing payroll, stocking up on supplies, or booking a flight for that big conference, finding ways to simplify your finances is key to your business’ success. They’re designed to offer not just flexibility, but significant rewards, easier expense tracking, and, ultimately, the opportunity to build business credit.
But these cards aren’t just upscale alternatives. They come with a wealth of features that cater specifically to the needs of a growing company. Let’s break down why getting a business credit card could be one of the best financial decisions you could make.
Unlock More Business Rewards and Offers
Every dollar counts in business, and leveraging credit cards that give you rewards for necessary expenses can help stretch those dollars even further. TD offers a selection of business credit cards that can turn everyday transactions into valuable rewards tailored to the needs of your company, such as:
Gives you 2%1 back in Cash Back Dollars on eligible office supply purchases, gas purchases, and regularly recurring bill payment - making it a card designed with the needs of small businesses in mind.
If you regularly fly with Air Canada, You can earn 2 points3 for every $1 spent on eligible purchases made directly with Air Canada®, including Air Canada Vacations®. Plus, you can earn 1.5 points for every $1 you spend on things like shipping, internet, and phone services—all business essentials.
For those who prioritize low interest rates, the Select Rate card offers flexible options. Pay no annual fee and enjoy a business-friendly 11.99% interest rate4 on purchases and cash advances—lower than the consumer equivalent. Alternatively, choose a $49 annual fee and benefit from a reduced interest rate of 8.99%4.
Each card offers unique advantages depending on your spending habits, but one thing remains consistent across all options: the power to get more out of every dollar spent on your business.
Turn your spending into savings with Visa SavingsEdge. Maximize the potential of your card with Visa SavingsEdge5 — a program that helps turn your spending into savings, complementing the rewards and points you may already be gaining. Make your Visa Business Card work as hard as you do by unlocking this valuable savings tool and activating Visa SavingsEdge.
Easier Expense Tracking: A Financial Lifesaver
Staying on top of your expenses is crucial when you're running a business. Managing budgets, paying suppliers, and covering payroll are everyday realities, but you can tackle them all with the TD Card Management tool. It makes tracking expenses not only simpler but more efficient, allowing you to keep a clean, organized account.
Think about it— instead of rummaging through stacks of receipts at the end of the month, all your transactions can be neatly documented on your card’s monthly statement.
For small business owners, this level of transparency in spending helps you make informed decisions, whether that’s tightening up spending in certain areas or reinvesting in growth opportunities when the budget allows.
Simplified Employee Expense Management
When it comes to scaling a business, controlling employee expenses can be a headache. But with TD business credit cards, you can add authorized users to your account—meaning employees can cover business expenses directly without the need for personal cards or cash advances. But here’s where the real power lies: you can set individual spending limits for each cardholder, monitor their spending in real-time, and ensure company money is being used responsibly.
With transparency into each employee’s expenses, you can also streamline approvals, limit spending to certain categories, and track location-based spending. This control is invaluable in a growing business where oversight can mean the difference between staying on budget or falling short.
Access to Spend Management Tools for Business
Personal credit cards offer standard features like online transaction review and account management through apps, but business credit cards offered by TD go far beyond that with the TD Card Management Tool. This easy-to-use platform is designed specifically for business owners to streamline expense management and monitor spending with accuracy.
With the TD Card Management Tool, you get:
- The ability to redistribute your business’ available credit between cardholders anytime.
- Easy-to-set restrictions on spend type, geography, and thresholds for each cardholder.
- A feature to temporarily turn a card on or off, providing added security and control.
- A comprehensive dashboard displaying your key business expenses.
- The ability to track both your spending and your employees’ spending in real-time.
- The option to create numerous customizable reports with up to 18 months of business transaction data.
- A powerful search tool that allows you to filter spending by date, amount, or vendor.
- Access to balances, payment history, and more, giving you full visibility into your business finances.
Whether you want to know which category your team spent the most on this quarter or need to track spend against a budget by department or project, the TD Card Management Tool is an invaluable resource. It helps you manage cash flow efficiently and optimize your budget based on real-time data, ensuring that your business remains financially agile and prepared.
Build Business Credit
Using a business credit card responsibly helps you build that all-important business credit score over time. Your business credit score can be the difference between getting approved for a critical loan or being denied at a time when your business needs extra capital.
How does it work? Credit providers evaluate how effectively you manage your expenses, credit limits, and payments. By using your business credit card wisely—avoiding overspending, paying off balances regularly, and keeping track of your budget—you’ll be establishing a positive credit history.
Key Considerations Before Applying
While business credit cards operate similar to cards you may be familiar with in terms of usage, they come with distinct advantages for businesses. As a business owner, it’s essential to understand the basics before applying.
Personal Guarantee and Credit Score Evaluation
Most small business credit cards—including those offered by TD—require a personal guarantee. This means that your personal credit score will be evaluated during the application process, and you're personally responsible for repaying the balance if your business can't. However, some business credit cards may also have minimum income requirements, and you may need to provide documentation proving that your company is a legitimate business entity.
Designed for Sole Proprietors and Growing Businesses
Small business credit cards can be particularly beneficial for sole proprietors, who can earn rewards not available on personal cards, and for small- to mid-sized business owners with multiple employees. The ability to track business expenses, manage employee spending, and earn rewards on eligible purchases can make these cards a valuable tool for growing businesses. They also help keep business and personal finances separate, which is essential for managing cash flow and tax reporting.
A Perfect Option for New Businesses
Business credit cards can also be an excellent option for new businesses. Some TD business cards come with no annual fees or lower interest rates, which can ease the financial burden on startups.
When considering a business credit card, it’s crucial to evaluate your current and future business needs. TD offers a variety of options, whether you’re a sole proprietor looking to earn rewards or a growing company managing multiple employee expenses.
Ready to Get a Business Credit Card?
If you're ready to streamline your business expenses, build credit, and unlock the rewards that matter most to your business, TD Bank offers a variety of credit card options tailored to small business owners. Whether you’re looking for cashback, travel perks, or simple expense management, TD has a card that fits your needs.
Take control of your business finances today—book an appointment with a TD advisor to find the best business credit card for you.