What the Card Offers
TD markets the Business Select Rate Visa for businesses that carry a balance: a fixed 11.99% on purchases and cash advances with no annual fee, or 8.99% for a $49 annual fee, a 21-day interest-free grace period, rental car insurance, and purchase security and extended warranty.
- 11.99%
Low rate on purchases and cash1
11.99% on both purchases and cash advances with no annual fee.
- 8.99%
Lower rate for a $49 fee1
Choose a $49 annual fee instead to pay 8.99% on purchases and cash advances.
- 48 days
Rental car insurance2
Auto rental collision and loss damage cover for rentals of up to 48 consecutive days, charged in full to the card.
Show 1 more benefitShow fewer
- $0
No annual fee, including employee cards1
No annual fee for the card or additional cards on the no-fee option.
Benefits as advertised by the issuer. The conditions attached to them are in the Fine Print Report below.
Sources (2)
- TD Business Select Rate Visa Card product page (retrieved 2026-11-01)
- TD Business Select Rate Visa Card product page, footnote 12 (retrieved 2026-11-01)
The Fine Print Report
Low fine print. A plain low-rate card; keeping the rate depends on paying the minimum on time.
2 late payments: higher rateImpact level: Medium
Two late minimum payments in 12 statements raise your rate until you make six on time
If TD doesn't receive the minimum payment on time twice within 12 consecutive statement periods, the rates rise to the higher rates in your Disclosure Statement from the next statement period, and stay there until you make six consecutive minimum payments on time. A single late payment also ends any promotional rate.
Why it matters: The low rate is the whole point of this card, and two late payments take it away for at least six months.
Interest charged on unpaid interestImpact level: Medium
From July 2, 2026, unpaid interest is added to the balance and charged interest
Before July 2, 2026, TD didn't charge interest on interest. From that date, unpaid interest is added to the balance at the end of each statement period, so it bears interest too.
Why it matters: On a card used to carry a balance, interest now compounds month to month.
You're personally liable for the balanceImpact level: Medium
The business, the person who applied and the cardholder are each liable for everything owed
The cardholder, the business and the individual borrower who requested the account are jointly and severally liable for all amounts owed. If you miss a minimum payment, TD can demand the full balance and, without notice, take money from any other account you hold with TD Bank Group.
Why it matters: If the business can't pay, TD can collect from you personally and from your personal TD accounts.
No grace period on cash advancesImpact level: Low
Cash advances and balance transfers bear interest from the day they're made
The 21-day interest-free grace period applies only to new purchases paid in full. Cash advances, including balance transfers, accrue interest at the cash advance rate from the day they're made.
Why it matters: The rate on cash is the same low rate, but it starts immediately.
2.5% FX fee, refunds converted lowerImpact level: Low
2.5% foreign currency fee, and refunds come back at a lower rate
Foreign currency purchases are converted at Visa's rate plus a fixed percentage, 2.5% on TD's Canadian dollar cards. Refunds are converted at Visa's rate minus the same percentage.
Why it matters: A refunded foreign purchase costs you twice the fee.
Who This Card Is For
Great fit if you...
- Carry a balance on business spending
- Use cash advances for the business
- Want a fixed low rate with no fee
- Rent cars for work
Consider alternatives if you...
- Pay in full and want rewards
- Sometimes miss payment due dates
- Need travel medical or trip insurance
The Verdict
The TD Business Select Rate Visa is a low-rate business card with no rewards: 11.99% on purchases and cash advances with no fee, or 8.99% for $49 a year, plus rental car and purchase insurance.
The fine print matters for anyone carrying a balance: two late minimum payments in 12 statements raise the rate until six on-time payments, interest on unpaid interest has been charged since July 2, 2026, and the business, the applicant and the cardholder are all personally liable.
The Recommendation: Best for small businesses that regularly carry a balance or need cash advances. If you carry more than about $1,600 on average, the $49 fee for 8.99% saves money; if you pay in full, a rewards card earns more.
Before you apply: This teardown is general information, not financial, legal or insurance advice, and reflects the issuer's documents as of November 2026. Terms, rates, fees and offers change, and the issuer's own agreement, disclosure statement, insurance certificates and program terms are what govern your card. Read them in full and confirm details with the issuer before you apply. Full disclaimer