If you’re self-employed, finding the right credit card can make a big difference in managing your finances. The ideal card can help you earn rewards, keep track of expenses, and even improve your credit score. This article highlights the best credit cards tailored for freelancers and business owners, ensuring you can choose one that fits your spending habits and needs.
Key Takeaways
- Self-employed individuals can benefit from business credit cards that offer rewards and cash back.
- Look for cards with no annual fees to save money while earning rewards.
- Consider your spending habits to find a card that offers the best rewards for your purchases.
- Many business cards provide tools to help manage expenses and track spending easily.
- Having a separate business card helps keep personal and business expenses organized.
1. Ink Business Preferred® Credit Card
The Ink Business Preferred® Credit Card is a fantastic choice for self-employed individuals. This card offers a mix of valuable rewards and a generous welcome bonus, making it a top pick for business owners.
Rewards
- 5X points on Lyft rides until March 2025.
- 3X points on the first $150,000 spent in select categories each year, including travel, shipping, and advertising.
- 1X point on all other purchases.
Welcome Bonus
Cardholders can earn 90,000 bonus points after spending $8,000 in the first three months. This can be worth up to $1,125 when redeemed for travel through Chase Travel.
Annual Fee
The card has an annual fee of $95.
Notable Perks
- Points are worth 25% more when used for travel through Chase Travel.
- Free employee cards are available, making it easier to manage business expenses.
- Built-in insurance covers eligible purchases, including cell phone protection and rental car insurance.
This card is ideal for freelancers who want to earn travel rewards on their business expenses. With its wide range of bonus categories, it can help maximize rewards for everyday spending.
Overall, the Ink Business Preferred® Credit Card stands out for its flexible rewards and valuable benefits. It’s a great option for self-employed business owners looking to make the most of their spending.
2. Chase Sapphire Reserve®
The Chase Sapphire Reserve® is a top choice for self-employed individuals who travel often. This card offers a lot of benefits that can help freelancers save money and earn rewards.
Key Features
- Welcome Bonus: Earn 60,000 bonus points after spending $4,000 in the first 3 months. This can be worth $900 for travel!
- Annual Travel Credit: Get a $300 credit for travel expenses each year.
- Rewards Rate: Earn 5 points on flights and 10 points on hotels when booked through Chase Travel. For other purchases, earn 1 point per dollar spent.
Pros and Cons
Pros:
- No foreign transaction fees.
- Points are worth 50% more when redeemed for travel through Chase.
- Access to over 1,300 airport lounges.
Cons:
- High annual fee of $550.
- Requires excellent credit for approval.
Why It’s Great for Freelancers
This card is perfect for freelancers who travel frequently. It offers great rewards on travel and dining, making it easier to earn points on everyday expenses. Plus, the travel protections and no foreign transaction fees are big advantages for those who work abroad.
The Chase Sapphire Reserve® is a powerful tool for self-employed individuals looking to maximize their travel rewards and benefits.
In summary, the Chase Sapphire Reserve® is an excellent option for self-employed business owners who travel often and want to earn valuable rewards while enjoying premium benefits. It’s a card that can truly enhance the travel experience for freelancers.
3. The Business Platinum Card® from American Express
The Business Platinum Card® from American Express is a top choice for self-employed business owners who travel often. This card offers amazing rewards and benefits that can make business travel feel luxurious.
Key Features:
- Welcome Bonus: Earn 150,000 points after spending $20,000 in the first three months.
- Rewards Rate: Get 5 points per dollar on flights and prepaid hotels booked through AmexTravel.com.
- Annual Fee: $695, which is high but can be worth it for frequent travelers.
Benefits:
- Access to over 1,300 airport lounges worldwide.
- Complimentary hotel perks like room upgrades and daily breakfast.
- A $200 airline fee credit for incidental charges.
This card is perfect for those who want to enjoy luxury travel benefits while managing their business expenses effectively.
Overall, the Business Platinum Card® is designed for high-earning freelancers who value travel rewards and premium services. With its extensive benefits, it can help make business trips more enjoyable and rewarding.
Consider this card if your business involves frequent travel.
4. Ink Business Cash® Credit Card
The Ink Business Cash® Credit Card is a fantastic choice for self-employed individuals looking to earn cash back on their business expenses. This card offers a great way to maximize rewards on everyday purchases.
Key Features
- Cash Back Rewards: Earn 5% cash back on the first $25,000 spent at office supply stores and on internet, cable, and phone services each year. Additionally, you get 2% cash back at gas stations and restaurants.
- Welcome Bonus: New cardholders can earn up to $750 in bonus cash back after meeting spending requirements.
- Annual Fee: There is no annual fee, making it a cost-effective option for freelancers.
Why It Stands Out
This card is particularly beneficial for self-employed individuals who have employees. It allows for free employee cards, enabling them to earn rewards on their spending as well.
Important Considerations
- Introductory APR: Enjoy a 0% introductory APR on purchases for the first 12 months, which can be helpful for those just starting out.
- Credit Score Requirement: A good credit score (700-749) is generally needed to qualify for this card.
The Ink Business Cash® Credit Card is a smart choice for freelancers who want to earn cash back on their business expenses while enjoying a flexible rewards program.
In summary, the Ink Business Cash® Credit Card is an excellent option for self-employed business owners looking to maximize their cash back on essential purchases. With its generous rewards structure and no annual fee, it’s a card worth considering for anyone in the freelance world.
5. Capital One Spark Miles for Business
The Capital One Spark Miles for Business is a great choice for self-employed individuals looking for a straightforward rewards card. This card offers 2 miles for every dollar spent on all purchases, making it easy to rack up rewards without worrying about bonus categories.
Key Features:
- Welcome Bonus: Earn 50,000 bonus miles after spending $4,500 in the first three months.
- Annual Fee: $0 intro for the first year; $95 after that.
- Reward Rate: Unlimited 2X miles on all purchases.
Pros:
- Free employee cards available.
- No foreign transaction fees.
- Flexible redemption options for travel expenses.
Cons:
- High regular APR of 25.74%.
- Limited bonus categories after the first year.
This card is ideal for freelancers who want to earn miles quickly and don’t mind an annual fee later on.
Overall, the Capital One Spark Miles for Business is a solid option for those who want to earn rewards without the hassle of tracking multiple categories. With its simple earning structure and valuable welcome bonus, it stands out as a top choice for self-employed business owners.
6. U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is a fantastic choice for self-employed business owners looking to earn cash back on their everyday expenses. This card stands out because it offers a 0% intro APR on purchases for the first 12 billing cycles, making it easier to manage cash flow during the initial months of use.
Key Features:
- Earn $750 in cash back after spending $6,000 in the first 180 days.
- Get 3% cash back on eligible purchases at gas stations, office supply stores, and restaurants.
- Enjoy 1% cash back on all other purchases.
- 5% cash back on prepaid hotels and car rentals booked directly through the Rewards Center.
- No limit on total cash back earned, and rewards never expire.
Pros and Cons:
Pros:
- No annual fee
- Introductory APR period on purchases
- Valuable cash back categories
Cons:
- Requires good to excellent credit
- Lower cash back rate outside bonus categories
This card is ideal for business owners who want to maximize their cash back while keeping costs low. With no annual fee and a generous welcome bonus, it’s a smart choice for many self-employed individuals.
In summary, the U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is a strong contender for those looking to earn cash back on their business expenses while enjoying a solid introductory offer. Its features cater well to the needs of self-employed business owners, making it a valuable addition to their financial toolkit.
7. The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express is a great choice for self-employed individuals. With broad rewards and no annual fee, this card is designed to meet the needs of today’s freelancers. It offers a 0% intro APR on purchases for the first 12 months, making it easier to manage cash flow.
Key Features
- No Annual Fee: This card does not charge an annual fee, which is a big plus for small business owners.
- Rewards Program: Earn 2X Membership Rewards® points on the first $50,000 spent each year, and 1X points on all other purchases.
- Flexible Spending: The card allows for expanded buying power, meaning you can spend beyond your limit without extra fees.
Why It Stands Out
- Simple Rewards: There are no rotating categories to track, making it easy to earn rewards on everyday purchases.
- Employee Cards: You can get free employee cards that also earn rewards, helping you maximize your points.
- Purchase Protection: Enjoy peace of mind with purchase protection on eligible items.
This card may be tailor-made for today’s freelancers, offering a straightforward rewards system and valuable benefits.
In summary, the Blue Business® Plus Credit Card is an excellent option for self-employed business owners looking for a card that offers flexibility and rewards without the burden of an annual fee.
8. Signify Business Cash℠ Card by Wells Fargo
The Signify Business Cash℠ Card by Wells Fargo is a great choice for self-employed business owners looking for simplicity. This card offers a straightforward way to earn rewards without the hassle of tracking categories. Here’s what makes it stand out:
Key Features
- Unlimited 2% cash back on all business purchases.
- $500 welcome bonus after spending a certain amount in the first few months.
- No annual fee, making it budget-friendly.
Pros and Cons
Pros:
- Easy to earn rewards with no categories to track.
- Long introductory APR of 0% for the first 12 months on purchases.
- Free employee cards available.
Cons:
- No higher earning categories for specific spending.
- Foreign transaction fees apply.
- Balance transfers are not allowed.
Who Should Consider This Card?
This card is perfect for self-employed individuals who want a simple rewards structure. It’s especially useful for those who may not have time to manage complex rewards programs.
The Signify Business Cash℠ Card is ideal for those who prefer a no-fuss approach to earning cash back on their business expenses.
In summary, the Signify Business Cash℠ Card by Wells Fargo offers a solid option for business owners who value simplicity and straightforward rewards. With its unlimited cash back and no annual fee, it’s a card worth considering for anyone looking to streamline their business expenses.
9. The American Express Blue Business Cash™ Card
The American Express Blue Business Cash™ Card is a great choice for self-employed individuals looking for simple cash back rewards. This card offers a flat rate of cash back without the hassle of points.
Key Features:
- No Annual Fee: There’s no cost to keep this card each year.
- Cash Back Rewards: Earn 2% cash back on eligible purchases up to $50,000 per year, then 1% after that.
- Introductory Offer: New cardholders can earn a $250 statement credit after spending $5,000 in the first six months.
- 0% Intro APR: Enjoy a 0% introductory APR on purchases for the first 12 months, which can help manage startup costs.
Benefits for Self-Employed Individuals:
- Flexible Spending: The card allows users to spend beyond their credit limit, which can be helpful for new businesses.
- Cash Back: This card can provide up to $1,000 or more in annual savings, making it a smart choice for freelancers.
- Easy to Use: With no complicated rewards system, it’s straightforward to earn cash back.
The American Express Blue Business Cash™ Card is ideal for those who want a simple, effective way to earn cash back while managing their business expenses.
Summary Table:
| Feature | Details |
|---|---|
| Annual Fee | $0 |
| Cash Back Rate | 2% on first $50,000, then 1% |
| Intro Offer | $250 after $5,000 spent |
| Intro APR | 0% for 12 months |
| Regular APR | 17.99% – 25.99% variable |
10. Capital One® Spark® Classic for Business
The Capital One® Spark® Classic for Business is a great choice for self-employed individuals looking to build their credit. This card is designed for those with fair credit, making it accessible for many freelancers. Here’s what makes it stand out:
Key Features
- Unlimited 1% cash back on every purchase.
- 5% cash back on hotels and rental cars booked through Capital One Travel.
- No annual fee, which is a big plus for business owners.
Pros and Cons
Pros:
- Free employee cards available.
- No foreign transaction fees.
- Good for those with average credit scores.
Cons:
- No welcome bonus.
- High APR of 29.99% variable.
- Limited perks beyond cash back.
Who Should Consider This Card?
This card is ideal for freelancers and self-employed individuals who want to earn cash back while improving their credit score. However, it’s important to pay off the balance on time to avoid high interest charges.
The Capital One® Spark® Classic for Business is a solid option for those starting their credit journey, offering rewards without an annual fee.
In summary, the Capital One® Spark® Classic for Business is a practical choice for self-employed individuals looking to earn cash back while building their credit. With its straightforward rewards structure and no annual fee, it’s a card worth considering for those with fair credit.
Final Thoughts on Credit Cards for Self-Employed Individuals
In conclusion, choosing the right credit card as a self-employed business owner can greatly enhance your financial management. These cards not only help you keep personal and business expenses separate but also offer valuable rewards and benefits tailored to your needs. Whether you prioritize cash back, travel rewards, or low interest rates, there’s a card out there for you. Remember to consider your spending habits and business type when making your choice. With the right card, you can maximize your earnings and simplify your finances, making your entrepreneurial journey a bit easier.
Frequently Asked Questions
Do freelancers need a business credit card?
While not necessary, having a business credit card can help freelancers manage their expenses and keep personal and business costs separate.
How can I apply for a credit card if I’m self-employed?
Self-employed individuals can apply for a business credit card just like anyone else, but their personal income and credit history will be considered.
Can I use my Social Security number instead of an EIN?
Yes, if you are a sole proprietor, you can use your Social Security number as your business ID when applying for a business credit card.
What are the benefits of having a business credit card?
Business credit cards can help with tracking expenses, offer rewards for purchases, and sometimes provide better spending limits and bonuses.
Is it possible to get a business credit card without good credit?
Some business credit cards are available for those with fair credit, but many require good credit for the best offers.
What should I look for in a business credit card?
Consider your spending habits, the types of rewards you want, fees, and interest rates when choosing a business credit card.