Best Credit Cards for Freelancers and Self-Employed

 

Comparing the top credit cards for self-employed and freelancers

Ink Business Unlimited Credit Card

Rewards rate:

• 5% back on Lyft rides (through March 2025)
• Unlimited 1.5% cash back on every purchase

Annual fee: $0

Intro APR: 0% intro APR on purchases for 12 months from account opening

Regular APR: 18.49% – 24.49% variable

Signup bonus: $750 cash back after you spend $6,000 on purchases in the first three months

Our verdict: If you don’t have business credit yet, the Chase Ink Business Unlimited card can be an option since it only checks your personal credit score as a qualification requirement (though you’ll likely only get approval if you have good to excellent credit). It’s also a good card for freelancers who have small and varied expenses. The rewards program is relatively straightforward, with 1.5% back on every purchase and flexible redemption options (including through Chase Ultimate Rewards). There’s no annual fee, you can add employee cards at no additional cost, and the card comes with a variety of other benefits.

Pros:

• $750 cash back sign-up bonus.
• Unlimited 1.5% back on every purchase (no reward caps).
• 0% intro APR.
• Redeem cash back rewards for cash, gift cards, travel, and more through Chase Ultimate Rewards.
• Get employee cards at no additional cost and earn rewards faster. Set individual spending limits for greater control.
• Additional benefits include roadside dispatch, auto rental collision damage waiver, travel and emergency assistance services, purchase protection, extended warranty protection, and more.
• Build your business credit.
• No annual fee.

Cons:

• No bonus categories.
• High foreign transaction fees (3%).
• Doesn’t offer intro APR on balance transfers.
• Welcome offer spending requirements may be difficult for some freelancers to reach.

Apply now: Ink Business Unlimited Credit Card

Ink Business Preferred Credit Card

Rewards rate:

• 5x points on Lyft rides (through March 2025).
• 3x points per $1 on the first $150,000 spent in combined purchases in the categories of shipping purchases, advertising purchases (made with social media sites and search engines), internet/cable/phone services, and travel each account anniversary year.
• 1 point per $1 spent on all other purchases.

Annual fee: $95

Intro APR: N/A

Regular APR: 21.24% – 26.24% variable

Signup bonus: 100,000 bonus points after you spend $8,000 on purchases in the first three months of account opening.

Our verdict: A significant signup bonus, high rewards rate in common business categories, and a variety of additional, valuable perks make the Ink Business Preferred card great for those who travel for business or whose spending matches the bonus categories. Even though there’s a $95 annual fee, the other benefits may be worth it. Plus, redemption options are flexible and you can earn even more when you redeem your points for travel booked through Chase Ultimate Rewards.

Pros:

• Points are worth 25% more in travel redemption through Chase Ultimate Rewards.
• Redeem rewards for cash, gift cards, travel experiences, and more (points do not expire).
• Add employee cards at no additional cost.
• No foreign transaction fees.
• Additional benefits include roadside dispatch, auto rental collision damage waiver, trip cancellation/trip interruption insurance, purchase protection, extended warranty protection, cell phone protection, and more.
• Bonus categories.

Cons:

• $95 annual fee.
• No intro APR offer.
• Welcome bonus has a high spending requirement in a short time frame.
• Bonus categories are capped at $150,000 (in combined purchase each year) which could restrict your earning potential.

Apply now: Ink Business Preferred® Credit Card

U.S. Bank Triple Cash Rewards Visa Business Card

Rewards rate:

• 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center
• 3% on eligible purchases at gas and EV charging stations, office supply stores, cell phone providers, and restaurants.
• 1% cash back on all other eligible purchases.
• $100 credit for recurring software subscription expenses (such as Quickbooks or FreshBooks).

Annual fee: $0

Intro APR: 0% purchase rate for 15 months

Regular APR: 19.24% – 28.24% variable

Signup bonus: $500 cash back after spending $4,500 in the first 150 days of account opening

Our verdict: Due to the $0 annual fee and the ability to earn high cash back rewards when you use this card to book prepaid hotels or car rentals or pay for gas, restaurants, office supplies, or cell phone services, the U.S. Bank Triple Cash Rewards card can be a good option for side hustlers and freelancers. You may also benefit from the card’s 0% intro APR for 15 months and the opportunity to earn $500 in cash back.

Pros:

• $0 annual fee.
• High rewards rate for business-related expenses, such as gas and office supplies.
• Earn more when booking through the Travel Rewards Center.
• $100 statement credit for software subscription expenses can come in handy.
• Other benefits include $0 fraud liability, global emergency services, Mastercard World Elite Benefits (like travel insurance), and more.

Cons:

• Rewards rate for most spending categories is low compared to other cards.
• Balance transfer and foreign transaction fees.
• High penalty APR.

Apply now: U.S. Bank Triple Cash Rewards Visa Business Card

Bank of America Business Advantage Unlimited Cash Rewards Mastercard Credit Card

Rewards rate:

• Unlimited 1.5% cash back on all purchases.
• If you have a business checking account with Bank of America and qualify for their highest Preferred Rewards for Business tier, you can earn up to an unlimited 2.62% cash back on all purchases.

Annual fee: $0

Intro APR: 0% for the first 9 billing cycles

Regular APR: 18.49% – 28.49% variable

Signup bonus: $300 online statement credit after you make at least $3,000 in purchases in the first 90 days of your account opening.

Our verdict: The Bank of America Business Advantage card is another card ideal for the freelancer who wants a simple rewards program and has low, varied expenses. The 1.5% back isn’t the most rewarding if you have large or specific expenses, but you do have the opportunity to earn more if you qualify for the Preferred Rewards for Business tier. The sign-up bonus and 0% intro APR aren’t as competitive, but there’s no annual fee and you get access to other tools and services that may be helpful in managing your business.

Pros:

• Earn up to 75% more cash back on purchases if you have a business checking account and qualify for the Preferred Rewards for Business tier.
• Access to cash flow management tools, travel and emergency services and accident insurance, overdraft protection, fraud monitoring, $0 liability protection, and more.
• Redeem points for statement credit, travel (no blackout dates), cash back, or gift cards.
• No annual fee.

Cons:

• Excellent credit (740+) is recommended.
• $300 sign-up bonus is not as competitive as other cards.
• Short 0% intro APR.

Apply now: Bank of America Business Advantage Unlimited

Bank of America Business Advantage Travel Rewards World Mastercard credit card

Rewards rate:

• Unlimited 1.5 points for every $1 on all purchases.

Annual fee: $0

Intro APR: 0% intro APR on purchases for the first nine billing cycles.

Regular APR: 18.49% – 28.49% variable

Signup bonus: 30,000 online bonus points after you make at least $3,000 in purchases in the first 90 days (can be redeemed for a $300 statement credit toward travel or dining purchases)

Our verdict: If you regularly travel for business, this card may be perfect for you due to the welcome bonus, lack of foreign transaction fees, and unlimited 1.5 points for every $1 you spend on all purchases (with no limit to how much you can earn, no spending caps, and no expiration dates). Plus there are no travel blackout dates and you have access to the Bank of America Travel Center. However, the intro APR period is relatively short and not ideal for those looking to make an initial large purchase, and there aren’t as many perks/benefits compared to other business cards.

Pros:

• No limit to the number of points you can earn and points don’t expire.
• Earn up to 75% more cash back on purchases if you have a business checking account and qualify for the Preferred Rewards for Business tier.
• No annual fee or foreign transaction fees.
• Can redeem rewards for statement credit to offset travel and dining purchases, cash back, or gift cards.
• No travel blackout dates.
• Access to travel and emergency services, cash flow management tools, overdraft protection, fraud monitoring, and more.

Cons:

• Not as many additional perks and benefits as with other business cards.
• Relatively short intro APR period.

Apply now: Bank of America Business Advantage Travel Rewards World Mastercard

American Express Blue Business Cash Card

Rewards rate:

• 2% cash back on everyday eligible business purchases (up to $50,000 per calendar year)
• 1% cash back on other eligible purchases (after the first $50,000 spent on your card)

Annual fee: $0

Intro APR: 0% intro APR on purchases for 12 months

Regular APR: 18.49% – 26.49% variable

Signup bonus: N/A

Our verdict: Freelancers and side hustlers who want to earn rewards on everyday purchases will find this card to be a good choice, especially if you are new or a small business, know your budget, and want a rewards card to help earn on business spending. However, due to the spending cap and limits on how you can use your rewards, a card with more flexibility could be a better option. That said, the $0 annual fee, Extended Buying Power, and other services you have access to could outweigh the lack of flexibility.

Pros:

• Expanded Buying Power gives you the freedom to spend beyond your credit limit and get business done (adjusts with your use of card and creditworthiness).
• 2% cash back on eligible purchases up to $50,000, then 1% back (per calendar year).
• Additional benefits include car rental loss and damage insurance, Global Assist Hotline, extended warranty, purchase protection, dispute resolution, Vendor Pay by Bill.com, Amex offers, and more.
• No annual fee.

Cons:

• Cash back earned is automatically credited to your statement, no other redemption options.
• No sign-up bonus (as of August, 2023).
• $50,000 spending limit (per year) on 2% category.
• Foreign transaction fees.

Apply now: American Express Blue Business Cash Card

Capital One Spark Cash Select Business Card

Rewards rate:

• Unlimited 5% cash back on hotels and rental cars booked through Capital One Travel.
• Unlimited 1.5% back on every purchase.

Annual fee: $0

Intro APR: N/A

Regular APR: 18.24% – 24.24% variable

Signup bonus: $750 cash bonus once you spend $6,000 in the first three months

Our verdict: For those wanting a $0 annual fee cash-back card that has no limits, category restrictions, or expiration dates, as well as no foreign transaction fees, this card may be for you. However, there are no bonus categories, so if you have more specific spending you may want to find a card that has higher rewards for those purchases. The sign-up bonus may also be difficult to meet if you have smaller expenses. However, you do get access to Capital One Travel, and rewards redemption options are relatively flexible.

Pros:

• Additional benefits include $0 fraud liability, virtual card numbers, payment flexibility, free employee cards (with customized spending limits), roadside assistance, access to Capital One Travel, card lock, extended warranty, and more.
• No foreign transaction fees.
• $0 annual fee.
• Cash back rewards have no limits, category restrictions, or expiration dates.
• Flexible redemption options include checks, statement credits, credits for previous purchases, gift cards, and more.

Cons:

• No bonus categories.
• High sign-up bonus requirements.

Apply now: Capital One Spark Cash Select Business Card

Amazon Business Prime Card

Rewards rate:

• 5% back or 90-day terms on purchases at Amazon Business, AWS, Amazon.com, and Whole Foods Market (on the first $120,000 in purchases each calendar year with eligible Prime Membership, 1% back thereafter)
• 2% back on purchases at gas stations, restaurants, and wireless phone services
• 1% back on all other eligible purchases

Annual fee: $0

Intro APR: N/A

Regular APR: 19.49% – 27.49%

Signup bonus: $125 Amazon.com gift card upon approval

Our verdict: If most of your business expenses happen through Amazon, this card can be a great option due to the high rewards rate for these purchases, though other purchase categories are limited and there’s a spending cap. Plus, for the higher rewards rate, you must be a Prime Member, which is an additional cost. That said, there are no foreign transaction fees and the card comes with a variety of other benefits ideal for those who travel.

Pros:

• Additional benefits include extended warranty, purchase protection, dispute resolution, car rental loss, and damage insurance, baggage insurance plan, Vendor Pay by Bill.com, employee cards, Amex Offers, and more.
• No foreign transaction fees.
• Bonus categories allow for more earning potential.
• No annual fee.

Cons:

• Highest rewards rate on Amazon purchases only.
• Must be a Prime Member.
• Spending caps on bonus rewards.

Apply now: Amazon Business Prime Card

Can you get a business credit card as a self-employed individual or freelancer?

While the answer is yes, you can, whether you should depends on the:

• If you occasionally freelance and only make a few hundred extra dollars per year, it might not be worth getting a business credit card.
  

• If much or all of your income is from freelancing, getting a business card for those expenses can help you in the long run, both in keeping your business and personal expenses separate (making it easier to file taxes) and from earning rewards on those business-related purchases.

Note that approval for small business credit cards is typically based on your personal credit history, so you likely don’t need employees, an LLC, or even a separate tax ID for your business to qualify.

How to choose the best credit card for freelancers

If you’re thinking about getting a business credit card as a freelancer, there are dozens of options for you to choose from and it can be overwhelming to make a decision. Here are some things to keep in mind:

• Your credit score: Because most small business cards base approval on your personal credit history, it’s important to know your credit score so that you can apply for cards you qualify for. Note that many business cards require good or excellent credit, so the higher your score, the better.

• Annual and other fees: There are plenty of cards that don’t have an annual fee, but those that do have annual fees often come with higher earning rates and other benefits you may be able to take advantage of. If you’re considering a card with a fee, make sure the rewards you’ll earn will outweigh how much you pay for the card.
  Also note foreign transactions, balance transfers, and other fees you may incur.

• Rewards rates and categories: Some business cards have flat 1-2% rewards rates on all purchases, making it easier for businesses with fewer or more random expenses to earn rewards. Others have 3-5%+ bonus categories. Compare rewards categories for the cards you’re considering to see where you’ll earn the most, and choose a card that aligns with your spending.
  Also, pay attention to redemption options. Some cards offer more flexibility with the ability to redeem rewards for cash back, travel, gift cards, statement credits, and more, while others are more limited.

• Other features: Purchase protection, cellphone insurance, travel insurance, expense tracking and account management tools, and $0 fraud liability are just a few examples of some of the other features and benefits business cards may come with. Your card should help you run your business, so choose a card with features you’ll be able to take advantage of.

Tips for using a business credit card as a freelancer or self-employed

Many of the same tips that apply to using a personal credit card also apply to using a business card:

• Pay your bill on time each month to avoid impact on your credit score. Consider opening a business bank account to set up auto-pay.
• Pay off your balance in full each month to avoid interest and fees.
• Only spend what you know you can repay.
• Use your card for purchases that fall into the bonus categories to maximize reward-earning potential.
• Take advantage of additional features and benefits your card may offer.

Methodology

The methodology for choosing the best credit cards for freelancers involves evaluating factors such as security features, ease of use, rewards programs, customer reviews, and fees. Financial experts and analysts assess these aspects to provide rankings and recommendations. The goal is to identify credit cards for freelancers that offer strong security measures, user-friendly interfaces, attractive rewards programs, positive customer feedback, and reasonable fees. By considering these factors, users can make informed decisions and select credit cards that align with their needs and preferences.

The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you to visit the respective card’s website before proceeding.

FAQs