Best credit cards for freelancers and the self-employed in 2023

If you’re one of the many Americans who freelance or own your own business, you might find a business credit card a useful addition to your wallet. They are a great financial tool for separating your personal and business expenses. While business credit cards typically cater to large- or mid-sized businesses, some business cards are well-suited for freelancers and offer generous rewards rates and perks.

Comparing the best cards for freelancers

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Top cards for freelancers

Here are some of the best credit cards for the self-employed. These cards can help you run your small business while simultaneously earning perks and rewards.

Best for unlimited flat rewards

Ink Business Unlimited® Credit Card

Rating: 4.2 stars out of 5

4.2

• Bankrate's view

  The Chase Ink Business Unlimited® Credit Card can help you earn a good chunk of rewards, especially if you regularly spend in a variety of spending categories. Its straightforward, unlimited 1.5 percent cash back on every purchase makes it a great card for freelancers with big budgets who want to avoid annual fees and keep their credit card use as simple as possible.

• Pros & cons

  

  Pros

  • The card earns unlimited 1.5 percent cash back on every purchase, which is solid value no matter where you use your card.
  • No annual fee makes it an accessible option for business card beginners.

  

  Cons

  • It offers lower earning potential than tiered category rewards cards.
  • Many freelancers with small budgets may struggle to meet the spending requirement on its welcome offer.

Best for 2% cash back

The American Express Blue Business Cash™ Card

Rating: 4.3 stars out of 5

4.3

• Bankrate's view

  The Amex Blue Business Cash^TM is the best flat-rate rewards card for freelancers with annual budgets under $50,000, which is this card’s soft spending cap for its best rewards rate. However, this card still has more cash back potential than the Ink Business Unlimited card for annual budgets of just under $100,000 because it continues to earn 1 percent back after its spending cap.

• Pros & cons

  

  Pros

  • Although the rewards rate is capped, it’s perfect for freelancers with modest budgets.
  • There is no annual fee, making it a low-stakes option for maximizing cash back.

  

  Cons

  • Its thin portfolio of cardholder perks won't bring a ton of extra benefits to your wallet.
  • Not the most valuable choice if you spend more than the $50,000 spending cap each year.

Best for customizable cash back

Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card

Rating: 3.8 stars out of 5

3.8

• Bankrate's view

  This card lets you customize your highest-earning category each month, giving you the flexibility to adjust your cash back rate to your business spending. Many of the available categories are common telecom, software or technology expenses, so it’s a great card for freelancers with online businesses.

• Pros & cons

  

  Pros

  • Earn boosted rewards for dining purchases and even better rewards in an eligible category of your choosing (up to $50,000 in combined annual spending).
  • This card doesn’t charge an annual fee, so it’s a safe pick if you’re concerned about adding additional charges to your business.

  

  Cons

  • Its rewards rates share a spending cap, so you may quickly exhaust this card's best feature with frequent spending.

The information about the Bank of America® Business Advantage Customized Cash Rewards Mastercard® credit card was last updated on July 12, 2023.

Best for high earners

The Business Platinum Card® from American Express

Rating: 4.8 stars out of 5

4.8

• Bankrate's view

  This card carries plenty of perks and credits that can help you offset its high annual fee. However, high-earners who regularly make transactions of $5,000 or more are the only ones who can make this card’s regular rewards rate match the cash back potential of other cards on this list. Nonetheless, freelancers and business owners who frequently travel are most likely to make the most of this card because of its generous rewards rates for travel and rental cars.

• Pros & cons

  

  Pros

  • The card offers over $1,000 in value from business-related statement credits which can help offset your annual fee.
  • Travel-related statement credits and perks, like airport lounge access and travel insurance.

  

  Cons

  • The card’s $695 annual fee is difficult to offset unless you are a high-earner with a big budget.
  • Its welcome offer spending requirement is hard to reach unless you spend at least $5,000 per month.

How to choose the best credit card for freelancers

It can be hard to choose from the many business card options available. Here are some factors to keep in mind as you weigh your options:

Budget for an annual fee

Only pay annual fees if you'll maximize perks and rewards.

Plenty of business cards with no annual fee make it easy to earn rewards without yearly costs. However, business cards with annual fees usually come stacked with statement credits and higher earning rates that can offset the annual fee and then some. If you’re considering a credit card with an annual fee, make sure you’ll take advantage of the card’s additional perks and features.

Review your top spending categories

Chose a card with tiered categories you spend the most in.

You may find that standard business cards have spending categories you don’t need if you work from home, such as gas, flights and hotels. Compare the rewards categories for the business cards you’re considering to see where you spend the most. For example, if you’re a freelance web developer you may have recurring software and services subscriptions, so target cards that offer elevated points or cash back in that category.

Consider how your card helps your business

Pick a card that has perks your business can make the most of.

Look for business credit cards that have features like expense tracking and account management to make running your business smoother. Common credit card perks like purchase protection and cellphone insurance are useful if your new equipment is faulty or your cellphone is stolen.

If you don’t need any business reward categories or extras, you might be better off with a personal credit card. However, you’ll want to exercise discipline when keeping receipts and invoices so you can track your business spending year-round.

Should you get a business credit card as a freelancer?

If you occasionally freelance on the side and only rake in a couple hundred dollars a year, it may not be worth getting a business credit card. But if your income is solely from freelance work, getting a business credit card for your freelance expenses can help you in the long run. Here’s how:

• They help separate personal and business spending so it’s easier to file taxes each year.
• Many offer free employee cards if your business grows.
• You can earn rewards on business-related purchases.

Before you apply, however, you’ll want to compare several options. It’s important to identify the card that will earn the most rewards or bring the most value and convenience to your finances.

The bottom line

Business credit cards can provide valuable benefits if you’re a freelancer, allowing you to separate personal and professional expenses and earn rewards for business spending. When choosing a card, consider factors such as annual fees, top rewards categories and how the card will benefit your business.

Full-time freelancers are more likely to make the most of a business credit card, while freelancers with fewer expenses may struggle to justify them. Regardless, it’s crucial to compare different options to find the best fit for your needs.