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Freelancing can be tough. You’re self-employed, so you’re all on your own. And not only do you need to find each new gig yourself, you also need strong self-management skills to get the work done.
The last things you need are financial headaches, or missed opportunities that could cost time and money. But credit cards can help.
The right credit card can help you do all of the following and more:
If you have repeated costs every month you could probably put them on a credit card, earning rewards and using benefits rather than just seeing the money disappear from your bank account.
You don’t need an official small business credit card for this, you can put your business expenses on personal cards too. Any card can work if it fits your business spending, and many freelancers and small business owners could probably benefit from a combination of business and personal credit cards.
Freelancers come in all shapes and forms, so there’s no one-size-fits-all credit card for freelancers.
Our favorite cards include:
Although we’ll focus mostly on business cards in this post, don’t limit yourself to them. Think about cards that would fit your lifestyle. What do you buy often, and where do you spend your time? You won’t always need excellent credit to qualify for excellent credit cards.
Road warriors, for example (like Uber/Lyft drivers or business travelers), may get a ton of value from a personal gas credit card or travel credit card. Although some travel rewards cards have both business and personal versions (like The Platinum Card® from American Express and The Business Platinum Card® from American Express), there are other great options you’ll only find by looking through personal cards (like the Chase Sapphire Reserve®).
If you love to work in cafes, downing overpriced coffee and sometimes resisting the pastries, a credit card with restaurant rewards could make you feel 4% better about these, ahem, necessary business expenses. You’ll find some cards offering 4% back or more on dining (plus equally high rates on other business essentials) below.
So explore the cards here, but take some time to check out the best credit cards in other categories as well.
The Blue Business® Plus Credit Card from American Express (Review) could be your go-to option for any purchases that don’t fit into the bonus categories of your other cards. Although there’s a spending limit, it’s pretty high and most freelancers probably won’t have to worry about hitting it.
2X points on any random purchase is pretty good. And since this card allows point transfers to partner airlines and hotels, you could get a return of 4% or more on your spending (with good transfer deals).
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Read more in our 2020 Review: Blue Business Plus Credit Card from American Express.
There are some other good flat-rate options, like the Capital One Spark Cash for Business (Review): This credit card offers 2% cash back on everything, with a nice welcome bonus, but it has a $95 annual fee after the first year. If the card is no longer valuable to you after that, you may want to downgrade to the no annual fee Capital One Spark Cash Select for Business (Review), which offers less in rewards. If you expect to fly, check out the Capital One Spark Miles for Business (Review), which is similar to the Spark Cash but comes with a Global Entry/TSA PreCheck credit and allows point transfers to airline partners.
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If you make different types of purchases from month to month, you’ll need a credit card that can handle that. The Bank of America® Business Advantage Cash Rewards Mastercard® credit card (Review) is one of the best business credit cards for freelancers with diverse spending habits, with a flexible 3% cash back category featuring six options you can choose from each month.
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Don’t forget about Amazon’s diverse marketplace, which is a great resource for freelancers looking for deals or particular equipment they can’t find locally. Amazon Prime members can get 5% back on all their Amazon purchases with the Amazon Business Prime American Express Card (Review) (up to $120,000 spent per year), while non-Prime users can get 3% back with the Amazon Business American Express Card (Review) (there are personal versions of these cards too).
The information related to Capital One SavorOne Cash Rewards Credit Card has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
No need to pay full price for coffee (or anything else at a restaurant). You have a few good options for restaurant purchases, ranging from no annual fee to a fairly high fee.
The Capital One SavorOne Cash Rewards Credit Card (Review) is our top pick thanks to its high reward rate and lack of annual fee. But if you want a little more, check out the Capital One Savor Cash Rewards Credit Card, a similar offer with higher rewards and an annual fee.
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Read more in our Capital One SavorOne Cash Rewards Credit Card (Review).
The American Express® Gold Card (Review) could also be good for some freelancers: 4X points at restaurants worldwide, point transfer opportunities to increase your return on spend, a $120 annual dining statement credit, a $100 annual airline statement credit through 2021 — but a $250 annual fee (Rates & Fees).
Uber and Lyft drivers end up spending a lot of money taking care of their cars, and that includes buying quite a bit of gas every month. If you’re not getting some kind of discount on that fuel, you’re missing out.
The Wells Fargo Propel American Express® card (Review) can put a dent in all that spending, with an easy 3X points on gas. If you’re spending $150 to $500 per month on gas, that would save you $54 to $180 per year. It’s not a ton of money, but it should help you pay for some of those inevitable car repairs. You’ll also get some handy other categories, to cover stops at restaurants and Netflix when you get home.
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For some other options with more diverse bonus categories, check out the Discover it® Cash Back (Review) (on up to $1,500 in spending per quarter, activation required) and Chase Freedom® (Review). They have rotating 5% categories which usually include gas for at least one quarter . Consider buying gas gift cards when that category is active to use throughout the year.
If you’re like many freelancers, you’ve crafted some version of a home office to create a more productive work environment. The Ink Business Cash® Credit Card (Review) provides a simple way to get rewards for office supplies and internet/phone services, and the intro bonus could pay for that new monitor or chair you’ve had your eye on. (Several other cards on this page would work well here too.)
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Read more in our 2020 Review: Chase Ink Business Cash Credit Card – Better for Small Businesses?.
If you also have a Chase Ultimate Rewards points card, you could transfer your Ink Cash rewards to that card to get a better return on your spending (as much as 10% or more). The eligible cards are:
Who doesn’t like points? The Ink Business Preferred® Credit Card (Review) will provide a ton of them, with the biggest intro bonus currently available on any Chase Ultimate Rewards card (bigger even than the $550 Chase Sapphire Reserve®). You’ll earn points on travel at a competitive rate, and there are a few other bonus categories that should prove useful to certain freelancers.
If you’re not sure if you can spend enough in the first three months, check out some creative ways to reach minimum spending requirements.
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Read more in our 2020 Review: Chase Ink Business Preferred Credit Card – Best for Business Spending?.
If you travel often and are looking for a serious upgrade, consider The Business Platinum Card® from American Express (Review). It may seem intimidating and a bit extra for many freelancers, but frequent travelers can get more out of the Business Platinum card than they put in thanks to airline and Global Entry/TSA PreCheck credits, a Dell credit, and the best airport lounge access on any credit card. With a $595 annual fee you don’t want to apply on a whim — check out the rewards and benefits, and see if you’ll use them enough to offset the high fee and come out on top after that (Rates & Fees)
Credit cards are useful tools for people in their daily lives, and for businesses as well — so freelancers, who live somewhere in that in-between realm of self-employment, can take advantage of cards designed for each group.
Some key benefits of using credit cards:
Smart freelancers seek out every advantage, whether they’re spending for their business, planning for tax day, or getting the work done.
The bottom line? A business credit card is not required but you may find it useful. As far as the IRS is concerned, any credit card can be designated as solely for business purchases.
You should know that business cards are not protected by the CARD Act, which prevents credit card companies from raising interest rates in certain situations and provides some other consumer protections.
So, many solopreneurs prefer to stick with personal cards, also known as consumer cards. Both types of cards are secured with the applicant’s personal credit, and business cards do not necessarily create or build business credit (but they can help accomplish that).
Overall, however, you shouldn’t be scared away by business cards. Plenty of people choose them over consumer cards for their different rewards programs and benefits, and most of the time it works out fine. As long as you use credit cards responsibly and maintain good financial habits in general, you’re unlikely to have any problems.
Some reasons to consider business cards instead of (or in addition to) personal cards include:
So don’t limit yourself to just business or personal credit cards — find a card or two that complement your business spending and the life you want to live as a freelancer.
Keep your options open, and commit to using credit cards responsibly: Ideally, that means paying off your full statement balance each month to avoid interest. At the minimum that means paying your bills on time, every time. This will help you get the most out of your cards without accruing expensive debt.
What credit cards do you use to fund your freelance business? What other financial strategies do you use? Let us know in the comments below!
Freelancing encompasses a wide variety of jobs and tasks. If you didn’t find the right card for you here, take a look at the Best Credit Cards for different lifestyles and spending habits.
For rates and fees of The Platinum Card® from American Express, please click here.
For rates and fees of The Blue Business® Plus Credit Card from American Express, please click here.
For rates and fees of The Business Platinum Card® from American Express, please click here.
Some freelancers prefer business credit cards, while others use personal cards for business expenses. Consider your options carefully, and select a card — or cards — that complements your key business expenditures.
Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.
The information related to The Blue Business® Plus Credit Card from American Express, Capital One SavorOne Cash Rewards Credit Card, The Business Platinum Card® from American Express, and Capital One Savor Cash Rewards Credit Card have been collected by Credit Card Insider and have not been reviewed or provided by the issuer or provider of these products.
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