TD Business Select Rate Visa Card

Overview

The TD Business Select Rate Visa Card is TD Bank's low-interest business card for Canadian small business owners who carry a balance month to month. It has no annual fee and charges 11.99% interest on purchases and cash advances — below the 19.99%+ standard rate on most business rewards cards. An annual fee of $49 CAD is available for a reduced rate of 8.99% if you opt into the lower-rate tier. The card earns no rewards. It is a pure cost-management tool aimed at business owners whose priority is minimising interest charges rather than accumulating points.

Who this card is for

This card is for business owners — incorporated or self-employed — who routinely carry a credit card balance for operational expenses and find the interest cost on a standard-rate business card a real overhead item. If your business carries a recurring balance of $10,000 CAD at standard rates, you're paying close to $2,000 CAD in annual interest. At 11.99%, that drops to roughly $1,200 CAD — a saving that dwarfs any rewards a competing card would have generated on the same balance. There is no stated income requirement.

Key benefits

The 11.99% purchase interest rate is the primary benefit. For a no-fee card, it delivers meaningful interest cost reduction compared to the standard 19.99% rate on most Canadian business Visa cards. The optional $49 CAD annual fee tier at 8.99% is worth calculating if your monthly carried balance is consistently above roughly $2,500 CAD — the interest saving would exceed the fee cost.

Car rental insurance and purchase protection are included, which are practical benefits for business owners who rent vehicles or buy equipment on the card. The card is accepted on the full Visa network globally. No rewards complexity means the accounting is clean — what you spend is what you owe, no redemption tracking required.

Potential drawbacks

The card earns no points, cashback, or rewards of any kind. Business owners who pay their balance in full each month derive zero benefit from this card compared to a no-fee cashback business card. The TD Business Cash Back Visa earns 2% on gas, office supplies, and recurring bills at no annual fee — a clearly superior choice for full-payers. There are also upcoming changes noted to this product's structure; confirm current terms directly with TD before applying.

How it compares

The MBNA True Line Mastercard offers 12.99% at no annual fee with a 0% balance transfer promotion for new applicants — useful if you want to consolidate existing high-interest business debt. For business-specific low-interest cards at TD, the Business Select Rate Visa is the primary option in TD's lineup. The TD Low Rate Visa is a personal equivalent at 12.90% and $25 CAD annual fee, for business owners who don't need a designated business card.

Bottom line

For business owners who carry a credit card balance on regular operational expenses, the TD Business Select Rate Visa Card's 11.99% rate delivers interest savings that make the absence of rewards irrelevant. If you pay in full monthly, choose a cashback business card instead.