A freelancer’s guide to business credit cards

Quick insights

• Freelancers and self-employed individuals may qualify for a business credit card, even if their business hasn’t generated revenue yet.
• Business credit cards may be preferable compared to personal credit cards.
• Business credit cards may offer rewards and benefits that are tailored to the needs of small business owners.

If you’re a freelancer or own a small business, you may be interested in a business credit card. With features, rewards and benefits tailored to the needs of business owners, it could be a good financial tool that helps you grow your business.

Read on to learn how freelancers could potentially qualify for business credit cards.

Do freelancers qualify for a business credit card?

You may think that only companies can qualify for a business credit card, but that’s not the case. Freelancers and the self-employed may be able to qualify for one. You don’t need an LLC, storefront, employees or a tax ID to get approved, and your business doesn’t even need to be profitable yet.

You may need to apply with your Social Security number, and your approval could be based on your personal credit history. You may also need to submit a personal guarantee that you will pay back any charges if your business is unable to pay.

Why freelancers may use a business credit card instead of a personal credit card

There are several reasons why you might choose a business credit card over a personal one.

Business credit cards offer unique benefits to freelancers and the self-employed:

• Higher spending limits
• Opportunity to build a business credit score
• Rewards friendly to small businesses
• Expense management software
• Clear separation between business and personal expenses

If your business grows and you need to hire employees, many business credit cards offer complimentary employee credit cards to help streamline your expense management.

Explore these Chase business credit cards to find an option that aligns with your business goals.

Information freelancers may provide on their business credit card application

If you’re ready to apply for a business credit card, you may be able to fill out an application online or in person at a branch. You could be asked to provide the following information about your business:

• Business name
• Address and phone number
• Annual revenue (if none, write “$0”)
• Number of employees
• Years in business
• Type of business
• Industry
• Legal structure
• Estimated monthly spending
• Employer identification number (EIN) if you have one

You may be asked to provide additional documents and personal information, including your Social Security number, date of birth and address.

What freelancers may look for in a credit card

It can be a challenge to know how to choose a credit card for a new business. The rewards and benefits may be a good place to start. You may want to evaluate which ones might help you reach your business goals.

Business credit card rewards

Just like consumer credit cards, some business credit cards come with rewards designed with small business owners in mind. Here are some purchases that you may get rewarded for with some business credit cards:

• Office supplies and equipment
• Advertising expenses
• Gas
• Shipping
• Utilities
• Software subscriptions
• Flights
• Hotels
• Rideshare services

If you’re comparing business credit cards, it could be helpful to look at a typical month of expenses and estimate the rewards you might get with each option. You may also wish to familiarize yourself with how to redeem business card rewards.

Business credit card benefits

In addition to rewards, many business credit cards offer cardmember benefits that may protect you against some losses related to travel and other purchases.

If you travel for business, you might be interested in benefits such as trip interruption and cancellation insurance, lost baggage insurance, rental car insurance and more. Do you have a cell phone account for your business? If so, you may be able to get cell phone protection, which covers eligible damages or loss.

In summary

If you’re a freelancer, you may qualify for a business credit card. It may be helpful to examine the card’s rewards, features and benefits to find the right option for your small business’s needs.