As the gig economy becomes increasingly popular, freelancers and side hustlers are always on the lookout for the best financial tools to support their business endeavors. One essential component of managing finances as a self-employed individual is selecting the right credit card that offers the best rewards, benefits, and features tailored to the unique demands of freelancing and side hustling. In 2023, a variety of credit cards stand out as excellent options for those seeking to maximize their earning potential and better manage their expenses.
With a diverse range of credit cards available in the market, freelancers and side hustlers need to carefully assess their spending habits, reward preferences, and other financial goals before making a decision. Some of the top credit cards for freelancers and side hustlers in 2023 offer cashback, travel rewards, and other perks that make them especially appealing for those who want to make the most of their self-employed income. From cards with generous signup bonuses to those that offer high cashback rewards on everyday business expenses, there’s a card out there for every kind of entrepreneur.
Before diving into the world of credit cards for freelancers and side hustlers, it’s crucial to understand how different cards cater to specific needs and preferences. Factors such as annual fees, credit requirements, and reward redemption options play a significant role in determining which card will be the best fit for your business growth and financial goals. In this article, we’ll explore the top 8 credit cards for freelancers and side hustlers in 2023, discussing the features and benefits of each to help you make an informed choice.
Card 1: Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card is an excellent option for freelancers and side hustlers who want to earn valuable rewards on their business expenses. With a generous signup bonus and competitive rewards rates, this card can help you maximize your return on spending.
Some of the standout features of the Chase Ink Business Preferred Credit Card include:
- Signup bonus: Earn 100,000 bonus points after spending $15,000 on purchases within the first three months of account opening. These points can be worth up to $1,000 in cash back or $1,250 when redeemed for travel through Chase Ultimate Rewards.
- Rewards rates: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping, internet, cable and phone services, and advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases with no limit.
- Redemption options: Redeem points for travel, cash back, gift cards, and more through Chase Ultimate Rewards. Points are worth 25% more when redeemed for travel through the Chase portal.
- No foreign transaction fees: Make purchases abroad without incurring additional fees.
- Cell phone protection: Get up to $600 per claim in cell phone protection against covered theft or damage when you pay your monthly cell phone bill with your card (subject to a $100 deductible per claim, and up to 3 claims in a 12-month period).
While the card does come with a $95 annual fee, the value you can get from the rewards and benefits can easily offset this cost, making it a great choice for freelancers and side hustlers looking to grow their businesses and reward their spending.
Card 2: Name & Features
The Credit Flex Pro Card is another excellent option for freelancers and side hustlers in 2023. The card offers a variety of features that make it convenient for professionals who require financial flexibility and rewards for their business expenses.
One of the primary advantages of the Credit Flex Pro Card is the cashback program. Cardholders can earn:
- 3% cashback on dining and fuel expenses
- 2% cashback on office supply purchases
- 1% cashback on all other eligible purchases
Another significant benefit of this card is the lack of an annual fee, making it a cost-effective option for freelancers and side hustlers who want to maximize their savings. Additionally, the card offers a 0% introductory APR for the first 12 months on purchases and balance transfers, after which a variable APR will apply.
The Credit Flex Pro Card also offers added value through various perks, such as:
|Free employee cards||Customizable spending limits for employees|
|Travel and purchase protections||Zero liability for unauthorized purchases|
These features make the Credit Flex Pro Card an appealing choice for freelancers and side hustlers who want comprehensive coverage while managing their finances efficiently.
Card 3: Name & Features
The Empress Card is an excellent credit card for freelancers and side hustlers looking for a card that offers both rewards and flexibility. Designed with small business owners and freelancers in mind, this card offers numerous valuable features to help you maximize your earnings and manage your finances more efficiently.
Some of the standout features of the Empress Card include:
- Cashback Rewards: Earn a generous cashback percentage on all your purchases, with higher rates for specific categories like office supplies, travel, and dining.
- Introductory APR: Enjoy a low introductory APR on purchases and balance transfers during the first months of card membership.
- No Annual Fee: Unlike many other business credit cards, the Empress Card has no annual fee, making it an excellent choice for freelancers and side hustlers looking to minimize their expenses.
- Expense Management Tools: Stay organized and in control of your finances with the card’s comprehensive suite of expense management tools, such as spending reports and budgeting options.
- Flexible Credit Line: As your business grows, the Empress Card adapts, offering a credit line that can increase over time based on your payment history and creditworthiness.
Overall, the Empress Card is a powerful financial tool for freelancers and side hustlers seeking a credit card with a robust rewards program and valuable perks. The card’s flexibility and expense management features make it an ideal choice for those looking to maximize profits and efficiently manage their growing ventures.
Card 4: Name & Features
The Business Platinum Credit Card is an excellent choice for freelancers and side hustlers who prioritize travel rewards and premium benefits. This card offers a generous rewards structure that caters to users with high spending in specific categories.
Some of the main features of the Business Platinum Credit Card include:
- 5x points on flights, hotels, and travel booked through the card issuer’s travel portal
- 1.5x points on purchases over $5,000
- 1x points on all other purchases
Cardmembers can also benefit from the following perks:
|Travel Insurance||Comprehensive travel insurance coverage, including trip cancellation and interruption, lost luggage reimbursement, and medical emergency assistance|
|Lounge Access||Access to over 1,200 airport lounges worldwide, featuring complimentary food and beverages, Wi-Fi, and more|
|Annual Travel Credit||A $200 annual credit for incidental airline fees, such as baggage fees or ticket changes|
Note that the Business Platinum Credit Card comes with a high annual fee of $595. However, the premium benefits and rewards can offset the cost for freelancers and side hustlers with substantial business expenses and travel needs.
Card 5: Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred Credit Card is a popular choice for freelancers and side hustlers who spend on various business-related expenses. It offers a robust rewards program and valuable perks that cater to the needs of entrepreneurs and self-employed individuals.
Key features of the Chase Ink Business Preferred Credit Card include:
- An impressive signup bonus: Earn 100,000 bonus points after spending $15,000 on purchases within the first 3 months of account opening.
- 3 points per dollar spent on travel, shipping purchases, advertising purchases, and internet, cable, and phone services (up to $150,000 spent in combined purchases annually).
- 1 point per dollar spent on all other purchases, with no limit to the amount of points you can earn.
- 25% more value when redeeming points for travel through the Chase Ultimate Rewards portal.
- Cell phone protection: Get up to $600 per claim for cell phone damage or theft when you pay your monthly cell phone bill with the card.
- No foreign transaction fees.
- Employee cards at no additional cost.
- Access to the Chase Ink Online Business Portal to help manage and track expenses.
With its considerable rewards on common business expenses and valuable perks, the Chase Ink Business Preferred Credit Card is a strong option for freelancers and side hustlers looking to maximize their credit card benefits in 2023.
Card 6: Spark Cash Select from Capital One & Features
The Spark Cash Select from Capital One is an excellent credit card for freelancers and side hustlers looking for simple and unlimited cashback rewards. This card offers a competitive cashback rate and additional benefits that can help you manage expenses and grow your business.
Here are the main features of the Spark Cash Select from Capital One:
- Cashback rewards: Earn 1.5% cashback on every purchase, without any limitations on the amount you can earn.
- Sign-up bonus: Receive a one-time $200 cash bonus once you spend $3,000 on purchases within the first three months from account opening.
- Annual fee: No annual fee is charged for this credit card, making it an affordable option for freelancers with a tight budget.
- Introductory APR: Enjoy a 0% intro APR for the first nine months on purchases, which can help you finance larger expenses without incurring interest charges. After the introductory period, the variable APR is 13.99% – 23.99% based on your creditworthiness.
- Additional benefits: The card provides free employee cards, allowing you to better manage expenses across your team. Additionally, you can take advantage of the card’s mobile app to monitor your account and track your spending.
Consider the Spark Cash Select from Capital One if you’re looking for a credit card that offers straightforward cashback rewards and additional features to help manage your business expenses.
Card 7: Capital One Spark Cash for Business
The Capital One Spark Cash for Business is a popular choice for freelancers and side hustlers looking for a straightforward rewards program. This card offers a simple cashback reward system and has no foreign transaction fees, making it suitable for those who travel or work with international clients.
Some of the main features of the Capital One Spark Cash for Business card include:
- Cashback Rewards: Earn 2% cashback on every purchase, every day with no spending limits or categories to worry about.
- Sign-up Bonus: New cardholders can earn a one-time $500 cash bonus once they spend $4,500 on purchases within the first 3 months from account opening.
- No Foreign Transaction Fees: Perfect for freelancers and side hustlers who travel or work with international clients, as you won’t be charged extra fees on transactions made outside of the United States.
- Free Employee Cards: Add employee cards at no additional cost, and earn rewards from their purchases.
While the Capital One Spark Cash for Business card does come with an annual fee of $95, the fee is waived for the first year. This allows freelancers and side hustlers to try out the card and experience its benefits before committing to the annual fee.
Card 8: Capital One Spark Cash for Business
The Capital One Spark Cash for Business is a great option for freelancers and side hustlers looking for simple, straightforward cashback rewards on their business expenses. With a fixed-rate cashback program, this card allows you to earn without worrying about categories or spending caps.
The primary features of the Capital One Spark Cash for Business include:
- Annual Fee: $0 introductory annual fee for the first year, then $95
- Cashback: 2% cashback on all purchases with no limit
- Sign-up Bonus: Earn a one-time $500 cash bonus once you spend $4,500 on purchases within the first 3 months
- Additional Benefits: Free employee cards, fraud protection, and year-end summaries
With its unlimited 2% cashback and a generous sign-up bonus, the Capital One Spark Cash for Business is an ideal choice for freelancers and side hustlers aiming to maximize their cashback rewards. Additionally, the card offers valuable business tools and benefits to help manage and grow your business.
In summary, having a suitable credit card can benefit freelancers and side hustlers by providing convenience, cash back, and other reward opportunities. Among the top options for 2023, some notable credit cards include the Capital One Spark Miles for Business, U.S. Bank Business Triple Cash Rewards World Elite Mastercard®, and Ink Business Preferred Credit Card.
When selecting a credit card for your needs, consider factors such as annual fees, interest rates, and sign-up bonuses. Additionally, pay attention to the card’s overall reward structure, as this often dictates the value you can expect from the card. Make sure to choose a card that aligns with your spending habits, business goals, and personal preferences.
Remember to use your credit card responsibly by maintaining consistent payments and managing credit utilization. By doing so, freelancers and side hustlers can efficiently manage their expenses while maximizing their rewards.