If you’re a gig worker or freelancer, you might not think of yourself as a small business owner, but technically speaking, that’s exactly what you are. If you earn income that isn’t from W-2 employment, you are a self-employed individual — even if your gig employment is simply a side hustle complementing a traditional job.
One of the benefits of self-employment is the ability to apply for a small business credit card. And there are some big advantages to doing so.
For one thing, a small business credit card can help you keep your (deductible) business expenses separate from your personal spending, which can make tax season much easier. It can also help you manage cash flow and can allow you to earn rewards for items you need to buy anyway.
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With that in mind, here are three top small business credit cards to consider, each with a different combination of costs, benefits, and rewards.
1. Ink Business Cash® Credit Card
The Ink Business Cash® Credit Card is a no annual fee business credit card that also offers intro APR perks for on purchases. One of the most unique features is a rewards program that offers the best cash back rates on common business spending categories.
First and foremost, this credit card earns an impressive 5% back on the first $25,000 spent at office supply stores, as well as on internet, cable, and phone services. It earns 2% back on up to $25,000 spent at gas stations and restaurants, and 1% back on everything else. There’s also a nice relationship bonus if you also have a Chase Business Checking account.
2. Costco Anywhere Visa® Business Card by Citi
If you’re a Costco member, the Costco Anywhere Visa® Business Card by Citi is worth a closer look. And it could be worth getting, even if you won’t have to do much business-related shopping at Costco stores.
For one thing, it earns 4% back on gas and EV charging ($7,000 annual spending cap), which could make it an ideal fit for ride-hailing drivers or other gig workers who need to use their personal vehicles often. It also earns 3% back on restaurants and travel, 2% back on Costco purchases, and 1% back on everything else.
There are cards for all types of gig workers and freelancers
These are just three of my favorite examples of small business credit cards, but one important takeaway is that these cards come with a wide variety of annual fees, benefits, rewards programs, and other features. Depending on the nature of your work, there’s likely to be a small business credit card that’s a great fit and can help you maximize your spending.
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