Being a business owner or working freelance comes with many perks such as having control over the projects you work on, the clients you work with, and having a flexible schedule. However, freelancing quickly introduces you to work that needs to be done behind the scenes and sometimes your money has to stretch in multiple directions.
As a freelancer, business growth is almost always on your mind, and with an abundant amount of credit cards out there to pick from, we wanted to make things easier for you. We've put together a list of the best credit cards that will help you separate business expenses from personal, save money on interest each year, and earn valuable points, miles or cashback on your spending.
Whatever your industry is, here are the top five credit cards to help you optimize your freelance business.
American Express Business Platinum: Best for freelancers who travel often.
One of the pros of being a freelancer and working remotely is having the freedom of working from anywhere you desire. That being said, you probably are familiar with the struggle of finding a good workspace. Local cafes and libraries might not be a good fit day after day, and co-working spaces can end up costing you a fortune. Introducing: the Business Platinum Card from American Express. Despite its hefty annual fee of $595, this credit card offers incredible perks such as giving you access to a one-year membership to WeWork co-working spaces around the globe. (This perk has been extended until December 2020.) Additionally, you will be eligible to receive ongoing rewards such as, earning 5 points per dollar spent on airfare and prepaid hotel rooms; 1.5 points on purchases of $5,000 or more, and 1 point per dollar spent on everything else. Lastly, when you redeem points for flights, you will receive 35% of those points back. We think this card can be a luxurious addition to your wallet.
Capital One Spark Cash Select for Business: Best for freelancers who want cash back rewards.
The Capital One Spark Cash For Business card offers a flat 2% cashback on every purchase and no annual fee for the first year. It’s a great way to earn reward points while keeping the costs low. Plus, all new cardmembers can earn a one-time $500 cash bonus once they spend $4,500 on purchases within the first 3 months from account opening.
Ink Business Cash credit card: Best for those who are new to freelancing.
Need to make a few big purchases for your business, but are unable to pay upfront? The Ink Business Cash credit card is perfect for freelancers who are just getting started and have to purchase necessary equipment while building their cash flow. With this card, you will earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services. The Ink Business Cash card has a 0% APR for the first 12 months on purchases, and all new cardmembers will receive a $500 bonus cash back after spending $3,000 on purchases in the first 3 months since the account opening.
Bank of America Business Advantage Cash Rewards Mastercard: Best for varied business spending.
This card offers a strong and flexible cashback program in addition to ongoing rewards and sign-up bonuses. With the Business Advantage Cash Rewards Mastercard, you will earn 3% cashback on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Cardholders pay no annual fee, get 0% APR for the first nine billing cycles, and earn a $300 statement credit bonus offer after spending at least $3,000 in net purchases in the first three months.
Wells Fargo Business Secured: best for those turning their passion into a money-making venture.
Wells Fargo Business Secured credit card is one of the best business credit cards that doesn’t require applicants to have good to excellent credit. The Wells Fargo Business Secured credit card will help you jump start your business and build credit while you earn rewards on business spending. This credit card offers many ongoing rewards such as a 1.5% cashback on every $1 spent, and 1,000 bonus points when you spend $1,000 or more in any monthly billing period. You will also have access to business-management tools for tracking expenses and payments.
Please note: the above-mentioned offers are subject to change at any time.