The gig economy was just beginning to blossom pre-pandemic. Between 2010 and 2020, the number of gig workers or side hustlers increased by 15%. Unlike many aspects of life, which stagnated during the pandemic, freelancing only grew. Statista reported that 73.3 million people work as freelancers in the U.S. right now, an increase from 57.3 million pre-pandemic.
Freelancing has tremendous benefits for many people. Freelancing or gig work can provide:
Flexibility
A better work-life balance
Increased income potential
But it can come with some financial complications, too.
As a freelancer, you’ll need to manage cash flow so that you’ll have money in your account to pay your bills. You’ll be responsible for paying your own taxes. And, with that in mind, you’ll want to track expenses carefully so that you can deduct the costs of running your freelance business from your bottom line.
That’s where having a business bank account can come in handy.
Why You Need a Bank Account If You Have a Side Hustle
According to tax laws, you don’t have to have a business bank account to run a side hustle or a freelance business. You can file your taxes using your Social Security number and receive a 1099 form as a sole proprietor.
But as your business grows, you may want to incorporate under a tax ID number. You may choose to register as a corporation like an S-Corp or, more commonly, a limited liability corporation or LLC. This can get confusing, so it’s important to speak to a tax account before you take this step.
If you incorporate your business, you’ll need a business checking account to keep your personal finances separate from your business expenses. You would pay yourself a salary out of your business account and use your personal bank account to pay for your daily living expenses, entertainment, and anything that isn’t considered a business expense.
Benefits of Business Accounts
Most small business owners, freelancers and side hustlers prefer to open a business account even if they aren’t incorporated. Having a dedicated business checking account makes it easier to track your business income and expenses, which makes filing taxes – and making quarterly estimated tax payments – easier. If you ever get audited, you’ll have a clear record of your personal and business finances.
Plus, if you do any sales and marketing for your freelance business, your business debit card can often pique people’s interest. You’d be surprised how having a debit card with your business name on it can help you generate leads in odd places, whether you’re at your favorite bar or paying for groceries.
If you’re ready to open a separate business account, it’s important to find one that will meet your needs.
Freelancer vs. Side Hustler vs. Entrepreneur
Before you choose a business account, you may be wondering about the differences between entrepreneurs, freelancers, and side hustlers. Which category do you fit in?
These are all loose terms to describe anyone who owns their own business or is self-employed. Self-employed is a tax designation, which means you are a 1099 contractor for other companies. This term would apply to most freelancers and side hustlers.
On the other hand, if you start your own business, you might consider yourself an entrepreneur. The dictionary defines an entrepreneur as someone who starts a business and is willing to take a financial risk in hopes of great success.
A freelancer may also take financial risks, including leaving a steady paying job. In a lot of cases, whether you describe yourself as an entrepreneur, small business owner, freelancer or side hustler is up to you.
Compare the Best Freelancer Checking Accounts
In most cases, business owners, freelancers and side hustlers can all benefit from a good business bank account. Read on as we compare the best business checking accounts for freelancers, gig workers, and entrepreneurs.
1. Lili Bank: Overall Best Bank for Freelancers
Lili calls itself “the one-stop shop for all your small business financial needs.” An online financial services company that provides business banking, accounting for freelancers, invoicing, and tax support, Lili is backed by Choice Financial Group Inc.
As a US-based bank, Choice is a member FDIC, which means your funds deposited in Lili are protected by the federal government up to $250,000 per account.
What sets Lili apart as one of the best bank accounts for freelancers?
In addition to all the other services it offers to business owners, Lili has no minimum balance requirements, no monthly fees for basic checking, and a network of 38,000+ fee-free ATMs nationwide. You can also open a business savings account and earn 1.50% APY at Lili.
Lili’s basic business checking account has no monthly fee, expense categorization for your purchases, and the ability to generate quarterly expense reports.
Alternatively, for $9 per month, you can earn 1.5% on savings, get a Visa business debit card with cashback rewards, overdraft protection up to $200 and tax, invoicing software, and accounting support.
Lili integrates with third-party services that gig workers may use, including Etsy, Shopify, Venmo, QuickBooks, and your PayPal business account.
When you compare the prices of other invoicing and online accounting services, you may find that Lili offers tremendous value for the money as one of the overall best banks for gig workers you can find.
Bluevine: Best for Business Interest Checking Account
Like Lili, Bluevine is a financial technology company. It is backed by Coastal Community Bank, Member FDIC to protect your deposits. The Bluevine business checking account offers 2.0% interest, which sets it apart from competitors.
To take advantage of the interest, you’ll need to either spend $500 per month with your Bluevine Business Debit Mastercard or receive $2,500 per month in customer payments to your Bluevine business checking account.
There are no monthly fees or minimum balance requirements and you can make unlimited transactions with no fees. Like Lili, Bluevine also offers other services for business owners.
If you are looking for a business interest checking account with value-added services, consider Bluevine. Your account integrates easily with QuickBooks, with no fees involved. Plus, you can set up sub-accounts to easily manage your money, add authorized users, and pay bills via ACH or wire transfer from your Bluevine account.
While many credit providers offer business credit cards, Bluevine is one of only a few business checking accounts that offers a business line of credit. You may qualify for a credit line of up to $250,000, with a rate as low as 6.2% interest. This interest rate is much lower than the national average of 20.46% for business credit cards right now, as reported by The Balance. Plus, you could get approved in as fast as five minutes, according to the Bluevine website.
For entrepreneurs seeking to purchase tools or resources, or freelancers in need of business equipment, Bluevine’s line of credit could provide you with the financial security you need to grow. Take note that you’ll need a credit score of 625 or more to qualify and $40,000 in monthly revenue. This is probably not a service for a gig worker, but for a seasoned entrepreneur.
Even so, it’s never too early to get started with a business checking account, especially one with no monthly fees.
Amex: Best for Debit Card Rewards and Bonus Offer
American Express is a renowned name in business and consumer rewards credit cards. But you might not be aware that the company also offers a business checking account with 1.30% APY on balances up to $500,000.
American Express also has no monthly maintenance fees, no fees on domestic ACH payments, and no fees at MoneyPass ATMs. The American Express Business Blueprint app makes it easy to manage your account.
Amex stays true to its credit card rewards roots with a rewards business debit card. Earn 1 Membership Reward point for every $2 on eligible purchases. You can combine points earned with Membership Rewards points accrued with other Amex cards, and use those points for travel, gift cards, or cash back. You can also convert those points into cash deposits directly into your new business checking account.
Amex’s bonus offer stands out to us. Earn 30,000 Membership Rewards points after you deposit $5,000 or more within the first 30 days of account opening, maintain that balance for the next 60 days, and make five or more qualifying transactions within those first 60 days.
NBKC Business Checking: Best for No Fees
If finding a business bank account with no fees is most important to you, a nbkc Business Checking account might fit the bill. The bank offers unlimited transactions with no fee, no minimum balance requirements, no monthly fees, and no opening deposit requirements either. You can also have out-of-network atm fees reimbursed for up to $12 per month.
If you are a freelancer just getting started or just looking to supplement your full-time income with a side hustle, you’ll find nbkc bank a low-cost and convenient option among free business checking accounts.
NBKC lacks some of the bells and whistles of the top choices on our list. You won’t get integrations with common business software or invoicing and accounting support. But a nbkc business checking account is free with your personal account and provides an easy way to keep your business and personal funds separate.
Novo: Best for Payment and P2P Money Transfer App Integration
Novo is another choice with no monthly maintenance fee, no monthly fee, free ACH transfers, and no minimum balance needed. Like many of the business bank accounts on this list, Novo is a financial technology company. It’s backed by Middlesex Savings bank, a Member FDIC, which means your money is protected up to $250,000 per account.
Novo is the best for business owners looking for an easy way to process payments or transfer funds. You’ll get free ACH transfers from another checking or savings account and refunds on all out-of-network ATM fees.
Novo integrates with many P2P payment apps, including Square, Shopify, and Stripe, as well as Etsy, eBay, Amazon and more.
When you use Novo Boost, you can get paid 95% faster through Stripe, or two business days before the funds would ordinarily appear in your account.
Plus, it’s quick and easy to open an account online, with approval as fast as 10 minutes – rather than days with some other online bank accounts.
Axos Bank: Best for New or Scaling Businesses
Many freelancers don’t think about opening a business account until they have incorporated their company to make that transition from self-employed to entrepreneur. If this sounds like you, Axos Bank could have the best bank accounts for you. The online bank is offering business owners who incorporated after June 2020 an extra $200 in their new business bank account.
If you aren’t newly incorporated, you can earn a $100 bonus.
Like many of the best business accounts on this list, Axos has no monthly fee, no minimum monthly average balance to hold, ATM fee reimbursements for all domestic transactions, and no minimum opening deposit. The bank accepts cash deposits or you can transfer money from other checking accounts via ACH.
Unlike many online banks, Axos offers business owners a dedicated relationship manager to help point you to the products and services that are best for your growing business.
Chase Business Complete Banking: Best for Credit Card Processing
As the largest U.S. bank, with assets of $3.31 trillion, Chase is a traditional bank that offers all the convenience of online banks. This includes personalized service, stellar fraud protection, and a host of other features and benefits we’ve come to expect from any financial institution.
The Chase Business Complete Banking account is ideal for entrepreneurs, offering unlimited transactions and no monthly fee (if you meet certain requirements). These requirements are relatively easy to meet with a $2,000 minimum balance, $2,000 in purchases on your Chase Ink Business credit card, a link to a Chase Private Client Checking account, or $2,000 in deposits from QuickAccept or Chase eligible merchant services.
The best aspect of Chase Business Complete Banking is the ability to process credit card transactions and receive funds the same day through Chase QuickAccept. (Additional fees apply.)
You can open an account with no minimum deposit to get started.
Wave Money Business Banking: Best for Free Business Banking
Wave Money integrates a free checking account with easy bookkeeping for freelancers and solopreneurs. Wave is best for those who want to improve cash flow with instant pay and want bookkeeping tools to make tax prep easier.
Wave has no monthly fee or transaction fees, so you keep more of what you earn. You can use the mobile check deposit feature for convenience, and make ACH transfers easily. There are no transaction limits with Wave, and you can also connect third party payment processors.
Wave is another fintech company, with banking provided by Community Federal Savings Bank, Member FDIC. That means your funds are insured for up to $250,000 per account.
TIAA Bank: Best for Business Investments
Besides checking accounts, TIAA Bank offers a variety of banking products for entrepreneurs and gig workers that sets it apart.
If you’re considering business savings accounts, TIAA offers CDs and money market accounts to earn interest at a rate higher than you may get with another account. Currently, TIAA’s one-year business CD offers an APY of 3.75%.
TIAA’s checking accounts offer easy online banking and mobile check deposit, along with personalized service from a business solutions specialist.
LendingClub Bank Tailored Checking: Best for Earning Checking Account Rewards
The LendingClub Bank tailored checking account for freelancers is one of the few banks on our list where you can earn interest on your checking balance, plus 1% cash back rewards when you use your debit card.
Account holders earn 1.5% APY on balances up to $100,000 and 0.10% APY on the portion of your balance that exceeds $100,000.
LendingClub Bank reimburses fees if you use an out-of-network ATM. The bank also supports QuickBooks, Quicken and Mint for budgeting and bookkeeping. You can also send digital invoices and get paid directly to your LendingClub account, making LendingClub Bank Tailored Checking one of the more robust and affordable online banks for freelancers.
Just make sure to maintain an average daily balance of at least $500 to have the monthly fee waived.
How to Choose the Best Bank Account for Your Business
When you’re evaluating business bank accounts, you’ll want to consider your needs and the features that are most important to you.
It should go without saying that you want an account with no monthly fees or no monthly fees. Unless you’re an established business owner, you may also want no minimum balance requirements. You don’t want to get saddled with fees if your business runs into cash flow problems or you have a down month.
If you run a high-volume business, look for a bank account with no transaction limits, no in-network ATM fees, and unlimited ATM fee rebates.
Need a way to manage contracts, collect invoices, and help with taxes?
Your business bank can represent much more than just a place to deposit cash and a means to pay your bills. Many of the best bank accounts on this list also offer freelancer invoicing, tax assistance, and ways to manage contracts.
Budgeting and Savings Features to Look For
When you’re a freelancer, it’s convenient to have an easy way to track your expenses and budget for not just expected costs, but surprise opportunities or financial emergencies.
Just as you should have a personal bank account established with emergency savings, you want a business savings account. In fact, you may want multiple business savings accounts or the ability to divide money into various buckets for known costs – like taxes – and unexpected expenses, such as car repairs or a new phone.
Some budgeting and savings features are nice to have, such as an interest-earning checking account and cash back on debit card purchases.
Why We Chose Lili as the Best Business Bank Account
Lili graces the top of our list because the fintech company offers so many value-added services for entrepreneurs that it’s virtually a one-stop shop for freelancers. However, the other banks on our list for best business accounts have their own benefits you might want to consider.
Should You Use Different Banks for Personal and Business Finance?
If you already have a separate bank account for your personal finance, there is something to be said for opening a business account through the same bank. You may get extra perks and benefits or waived fees. Best of all, it’s easier to use one app to manage all your personal and business banking.
But if you opt for an online financial services company, instead, it is typically easy to transfer funds between accounts. Also, companies like Lili and Bluevine specialize exclusive in business accounts, which means they have services tailored specifically to your needs.
Bottom Line
A lot of factors go into choosing the best bank account for your business checking needs. Knowing your must-haves, nice-t0-haves, and those features that don’t really matter to you can help make the decision easier.
FAQs
What is a business bank account?
A business bank account is a dedicated account separate from your personal accounts that you use to deposit cash, checks, or other customer payments earned through your business. You should also use your business checking account to pay for business expenses.
Do You Need a Business Bank Account if You’re a Freelancer?
Freelancers are not required by law to have a separate business banking account. But if your business is incorporated as an S-corp, C-corp, or LLC, you are required to keep your business and personal accounts separate.
Should You Have a Separate Bank Account If You’re a Freelancer?
Even though it’s not required by law, it’s a good idea to have an account separate from your personal checking account to help you keep track of business income and expenses.
What Makes a Business Bank Account Ideal for Freelancers?
Business bank accounts often have many of the same features as some of the best personal bank accounts. That would include low or no minimum balance requirements, no monthly maintenance fee, no transaction fees, and no hidden fees.
You may also look for features like mobile check deposit, unlimited electronic deposits, and low wire transfer fees if you have a lot of customers, clients, or vendors outside the U.S.
Methodology: How We Select the Best Bank Accounts for Freelancers and Side Hustlers
We evaluated the best bank accounts for freelancers based on the ability to earn interest, monthly maintenance fees, minimum balance requirements, the ease of making cash deposits, customer service, and more.
Some banks are better for freelancers who don’t maintain a high balance or only have a few transactions per month. Entrepreneurs with fast-growing businesses looking to scale may prefer a business checking account with unlimited transactions and the ability to accept credit card payments through the same bank.
Some business owners may want to be able to integrate their Quickbooks accounting system through their bank.
We have banks on this list designed for small business owners, freelancers and side hustlers at every stage of business growth.
Referral links for the Chase Ink Cash & Chase Ink Unlimited are now showing the 90,000 points offer. Feel free to share your referral link once in the comments below. Do not add any additional words other than the referral link and don’t thread comments. Remember to try and use a referral from a reader that contributes positively to the community (click the i icon next to their name to see their comment history).
With so many business credit cards on the market, it can be difficult to determine which is best for your company’s needs.
Cutting through it all, the Ink Business Preferred® Credit Card is one of our favorites. In the same family, the Ink Business Premier℠ Credit Card is a cash-back option launched in December 2021.
Both are solid options, but there is a clear winner for most business owners, so let’s break it down.
Comparing the Ink Business Preferred and Ink Business Premier
Let’s start with a quick overview of each card’s highlights. For more details, check out our full review of the Ink Business Preferred and the Ink Business Premier.
Ink Business Preferred
Ink Business Premier
Annual fee
$95.
$195.
Welcome offer
100,000 bonus points after you spend $15,000 on purchases in the first three months of account opening.
$1,000 cash back (worth 100,000 bonus points) after you spend $10,000 on purchases in the first three months of account opening.
Bonus categories
Earn 3 points per dollar spent (on the first $150,000 in combined purchases each account anniversary year) on:
Travel.
Shipping purchases.
Internet, cable and phone services.
Advertising purchases made with social media sites and search engines.
Earn 1 point per dollar on all other purchases.
Earn 5% total cash back on travel purchased through Chase Ultimate Rewards.
Earn 2.5% total cash back on every purchase of $5,000 or more.
Earn 2% cash back on all other purchases.
Redemption options
Points are worth 1.25 cents each when redeemed through the Chase travel portal, or points transfer at a 1:1 ratio to 14 travel partners.
Points are worth 1 cent each when redeemed toward cash back and various Chase Ultimate Rewards portal redemptions, such as travel or gift cards.
Card benefits
Cellphone protection ($1,000 cap per incident).
Purchase protection.
Trip cancellation/interruption insurance.
Trip delay reimbursement.
Primary car rental coverage.
Extended warranty protection.
No foreign transaction fees.
Cellphone protection ($1,000 cap per incident).
Purchase protection.
Trip cancellation/interruption insurance.
Trip delay reimbursement.
Primary car rental coverage.
Extended warranty protection.
No foreign transaction fees.
Related: Ink Business Preferred review
Welcome offer
While the welcome offers for the Ink Business Preferred and Ink Business Premier might look similar on the surface, they are actually quite different due to the difference in how you can redeem the rewards earned between the two cards.
With the Ink Business Preferred, you’ll earn 100,000 Ultimate Reward bonus points after spending $15,000 in the first three months. Points earned from the card are worth 1.25 cents apiece when redeemed through the Chase Ultimate Rewards travel portal, or they can be transferred to any of Chase’s travel partners at a 1:1 ratio. This means the 100,000 points earned are worth a minimum of $1,250 toward travel. However, you can potentially get much more value from them by transferring to the Ultimate Rewards program’s 11 airline and three hotel partners, including United, Southwest and World of Hyatt.
The Ink Business Premier is also offering 100,000 Ultimate Reward bonus points ($1,000 cash back) after you spend $10,000 in purchases within the same three-month timeframe. The cash back is earned in the form of Ultimate Rewards points. But unlike those from the Ink Business Preferred, you cannot transfer these to the program’s airline and hotel partners. Nor can you transfer them to your Ultimate Rewards account linked to another card like the Chase Sapphire Preferred Card so that they become transferable (though you can transfer Ultimate Rewards points from your other card accounts into the one linked to your Ink Business Premier). Instead, these points are always worth just 1 cent apiece, whether you redeem them for cash back or things like statement credits, gift cards and travel through the Chase portal. So this welcome offer is worth $1,000 no matter how you use it.
Sign up for our daily newsletter
Related: The power of the Chase Trifecta
Winner: When comparing the two cards, the Ink Business Preferred card has the upper hand since its points are worth more when redeemed for travel. However, if you’re looking for a pure cash-back welcome offer, the Ink Business Premier is a better option since the minimum spending requirement to earn the bonus is much less.
Bonus earning categories
The Ink Business Preferred offers more bonus categories than the Ink Business Premier, so that you’ll earn 3 points per dollar spent on the first $150,000 in combined purchases per account year in the following categories:
Travel.
Shipping purchases.
Internet, cable and phone services.
Advertising purchases made with social media sites and search engines.
On all other purchases, or after you spend $150,000 combined in the above bonus categories, you’ll earn 1 point per dollar spent. Since Chase Ultimate Rewards are worth 2 cents per point, based on TPG’s valuation, you’re earning a 6% return on your category bonus purchases and a 2% return on all other purchases.
The Ink Business Premier offers both interesting bonus categories and strong everyday earning. With this card, you’ll accrue:
5% total cash back on travel purchased through Chase Ultimate Rewards.
2.5% total cash back on every purchase of $5,000 or more.
2% cash back on every purchase.
Earning at least 2% cash back on every purchase is strong but not unique. Many other cash-back cards offer the same return, such as the Citi® Double Cash Card (see rates and fees) and Capital One Spark Cash Plus. But if you often make large purchases — those over $5,000 — then earning that extra half a per cent in cash back can save you a lot of money in the end.
Winner: If you are looking to simplify your business expenses and to just have one card for everything, the Ink Business Premier is the winner. But that’s only if you are looking to earn cash back. The Ink Business Preferred will give you more options if you prefer to earn travel rewards with your credit card purchases.
Redemption options
Even though both cards are “Chase Ink” credit cards, the redemption options are very different.
With the Ink Business Preferred, in addition to redeeming your points for cash — where 1 point is worth 1 cent — you can also use them toward travel in two different forms. You can either redeem points toward travel reservations through the Chase Ultimate Rewards travel portal, where points are worth 1.25 cents each. Or you can transfer them to 14 travel partners (11 airlines and 3 hotels), including:
TPG estimates Chase Ultimate Rewards points to be worth 2 cents apiece when you leverage these transfer partners, thanks to the number of options they open up.
With the Ink Business Premier card, however, the points you earn are worth 1 cent each, plain and simple, and there’s no option to redeem your rewards toward travel at a higher rate. Whether you redeem them for cash back or for other options through Chase Ultimate Rewards, like gift cards or travel, you still get 1 cent per point.
Winner: The Ink Business Preferred has many more options and your points earned are worth significantly more.
Related: Maximizing Chase Ultimate Rewards
Card benefits
Both cards offer the exact same benefits when it comes to purchase and travel protection. With both cards, you’ll receive:
Purchase protection: If an eligible item is damaged or stolen within the first 120 days after purchase, you’re covered up to $10,000 per claim ($50,000 per account).
Trip cancellation/interruption insurance: If you must cancel or cut a trip short because of a covered issue (such as illness or severe weather), you’re eligible for up to $5,000 of coverage per person for prepaid, nonrefundable travel expenses, which provides great peace of mind when unexpected problems arise. Coverage is limited to $10,000 per trip.
Trip delay reimbursement: If a covered trip is delayed by a covered hazard for 12 or more hours — or long enough to require an overnight stay — you’ll be eligible for reimbursement, up to $500 per ticket in reasonable expenses. You only need to charge part of your common-carrier fare to the card to use this benefit, so you’ll be covered on award tickets if you put the taxes and fees on the card.
Primary car rental coverage: If you use either card for the entire rental cost and are traveling for business purposes, you’re covered for theft and damage in the U.S. and most countries worldwide. Remember that this doesn’t offer any liability coverage, but you are covered up to the actual cash value of the vehicle you’re renting.
Extended warranty protection: Purchases with a U.S. manufacturer’s warranty of three years or less will get coverage for an extra year. This can be extremely helpful when an item stops working shortly after its scheduled warranty ends.
Cellphone protection: If you pay your monthly cellphone bill with your card and your cellphone is stolen or damaged, you can receive up to $1,000 per claim, with a $100 deductible — for up to three claims per year.
Winner: Tie, as both cards offer the exact same benefits.
Which card should you get?
Like many other questions asked — it depends. If you don’t have a premium Chase Ultimate Rewards card that allows you to redeem points toward travel, then the Ink Business Preferred card is a great choice. Your points are potentially worth significantly more and open up many travel redemption options.
Also, if you have high monthly expenses in the card’s bonus earning categories, then the Ink Business Preferred can also help maximize your points earned.
But, if your spending categories are much more varied (or don’t include those increased bonus categories) and you prefer to earn cash back, you’ll be better off with the Ink Business Premier card. Earning a minimum of 2% cash back on every purchase is solid. And if you often make purchases of over $5,000, earning an uncapped 2.5% back is a great deal.
Yes, the Ink Business Premier card costs an extra $100 a year, but if you have heavy business spending, that difference can be nominal compared to the extra rewards earned.
Aside from how you earn and redeem points, the cards are extremely comparable, with both offering excellent travel and protection benefits.
Ultimately, the real question is: Do you want to earn travel rewards or cash back? If you are able to simply answer that question, then the card of choice is quite obvious.
Bottom line
For a mid-tier credit card, both are strong choices for business credit cards, in their own way. The two cards offer great ways to earn points or cash back, while also offering benefits that will help protect you in a time of need. And for a relatively low annual fee, you’ll never have to worry about statement credits or extra perks to help “offset” the fee.
Also, if you already have the Ink Business Preferred card, that doesn’t prevent you from applying for the Ink Business Premier. Combining the benefits of both can truly allow your business to earn a plethora of points and cash back, giving you more money and points in your pocket so you can take a step away from work at some point and truly enjoy a vacation.
Driving for a ridesharing app like Uber or Lyft or a food delivery app like DoorDash or Instacart. Working as a writer or graphic designer for hire. Teaching English online in your spare time. These are among the most popular side gigs and freelance opportunities for people looking to earn extra income.
These solopreneurs count as self-employed individuals — small-business owners, technically — and are typically eligible for many small-business credit cards. This is true even for those with no plans to turn their side business into a full-time enterprise.
What follows is a list of the best credit cards for freelancers and side hustlers hoping to earn rewards for business-related purchases and raise their business credit score in the process.
Best Credit Cards for Freelancers & Side Hustles
The best small-business credit cards for freelancers, sole proprietors, and side hustlers pair modest annual fees — if they have annual fees at all — with generous rewards programs whose bonus categories favor general spending or a broad range of everyday business expenses.
Many also have attractive sign-up bonuses — also known as welcome offers, welcome bonuses, or early spend bonuses, depending on the issuer. And all accept personal guarantees from applicants, which means you can apply using your personal credit score. This is very useful if you don’t have any business credit history (or you haven’t formally incorporated your freelance business at all).
Chase Ink Business Unlimited® Credit Card
Our Rating
Earn unlimited 1.5% cash back on all purchases and enjoy an unusually long 0% APR introductory promotion (for a business credit card).
Rewards Rate
Unlimited 1.5% on every business purchases
Annual Fee
0% intro APR for 12 months on purchases, then variable regular APR
Regular APR
17.99% to 23.99% (variable)
Apply NowRead the Review
[+] See Details
[-] Hide Details
Chase Ink Business Unlimited® is a popular small-business cash-back credit card with no annual fee. All purchases earn unlimited 1.5% cash back, with no spending categories or tiers to keep straight.
Ink Business Unlimited also has an amazing sign-up bonus for cardholders able to spend enough in eligible purchases during the first three months. The introductory 0% APR promotion on purchases is rare to find on a business credit card too, easily justifying its inclusion on our list of the best business credit cards.
Pros
No annual fee
Well-above-average sign-up bonus
Unusually long 0% intro APR promotion
Cons
No way to earn more than 1.5% cash back
Relatively few business benefits
Apply NowRead the Review
Chase Ink Business Cash® Credit Card
Our Rating
Earn up to 5% cash back on everyday business purchases. Plus, take advantage of an above-average 0% intro APR offer and sign-up bonus opportunity.
Rewards Rate
Up to 5% cash back
Annual Fee
0% intro APR for 12 months on purchases, then variable regular APR
Ongoing APR
17.99% to 23.99% (variable)
Apply NowRead the Review
[+] See Details
[-] Hide Details
The Chase Ink Business Cash® Credit Card is another Chase-issued business card with no annual fee.
Its sign-up bonus is identical to Ink Business Unlimited’s, and it has the same great lineup of value-added perks and benefits. The rewards program is more generous for freelancers and side hustlers who frequent office supply stores, gas stations, and restaurants.
Pros
No annual fee
Up to 5% cash back on eligible purchases
Unusually long 0% intro APR promotion
Cons
Few value-added business benefits
Low baseline cash-back rate
Apply NowRead the Review
American Express Blue Business Cash™ Card
Our Rating
Earn 2% cash back on the first $50,000 in eligible purchases, then 1% cash back on all eligible business purchases. Plus, enjoy 0% intro APR for the first 12 months on purchases.
Rewards Rate
Up to 2% cash back
Annual Fee
0% intro APR for 12 months on purchases, then variable regular APR
Ongoing APR
18.24% to 26.24% (variable)
Terms Apply
Apply NowRead the Review
[+] See Details
[-] Hide Details
The American Express Blue Business Cash™ Card has an excellent rewards program that favors everyday business spending, no annual fee, and a 12-month 0% APR introductory promotion for purchases (terms apply).
For rewards-hungry side hustlers, the highlight of Blue Business Cash is its rewards program, which pays 2% cash back on the first $50,000 per year in combined eligible purchases. Purchases over this annual spending cap earn 1% cash back.
Pros
No annual fee
Above-average welcome offer
Long 0% intro APR on purchases
Cons
Few value-added business benefits
Earn rate capped at 2% back
For rates and fees of the American Express Blue Business Cash™ Card, please visit this rates and fees page.
Apply NowRead the Review
The Blue Business® Plus Credit Card from American Express
Our Rating
Earn 2 points per $1 spent on the first $50,000 in eligible purchases, then 1 point per $1 spent. An above-average welcome offer and 0% intro APR on purchases add yet more value.
Rewards Rate
Up to 2x points
Annual Fee
0% intro APR on purchases for 12 months, then variable regular APR
Ongoing APR
18.24% to 26.24% (variable)
Terms Apply
Apply NowRead the Review
[+] See Details
[-] Hide Details
The Blue Business® Plus Credit Card from American Express is another no-annual-fee business credit card that’s ideal for freelancers.
Like Blue Business Cash, its rewards program favors everyday business purchases and pays double (2 Membership Rewards points per $1 spent) on eligible purchases up to the first $50,000 in combined annual spending, after which eligible purchases earn 1 Membership Rewards point per $1 spent. Terms apply.
Also like Blue Business Cash, it has a solid 0% APR introductory promotion.
Pros
No annual fee
Above-average earnings on the first $50,000 in eligible purchases each year
Above-average 0% intro APR on purchases
Cons
Low baseline rewards rate
Few value-added business benefits
For rates and fees of the Blue Business® Plus Credit Card from American Express, please visit this rates and fees page.
Apply NowRead the Review
Capital One Spark Cash Plus
Our Rating
Earn unlimited 2% cash back on most eligible purchases. Plus, get one of the category’s best welcome bonuses with qualifying early spending, and earn another bonus with qualifying annual spending.
Rewards Rate
Up to 5% cash back
Annual Fee
Ongoing APR
Pay in full each month
Apply NowRead the Review
[+] See Details
[-] Hide Details
Capital One Spark Cash Plus is a premium business cash-back card that’s ideal for prosperous freelancers and side hustlers. It boasts a category-leading early spend bonus (worth up to $1,000 bonus cash) and a super-generous rewards program that earns a flat, unlimited 2% back on most eligible purchases.
The $150 annual fee is the biggest downside. A $200 bonus cash offer for big spenders — after spending at least $200,000 in a year — more than offsets it, though most freelancers probably won’t get there.
Pros
Unlimited 2% cash back on most purchases
Multiple bonus opportunities for heavier spenders
Cons
$150 annual fee
New cardmember bonus and ongoing spend bonus require heavy spending
Apply NowRead the Review
[+] See Details
[-] Hide Details
The Capital One® Spark® Miles for Business card is similar to Spark Cash for Business.
The main difference: It has a mileage-based rewards program that’s great for travelers who’d prefer to redeem for credit against eligible travel purchases rather than general statement credits. It’s a travel rewards credit card, in other words.
The rewards program is basically the same though. You earn unlimited 2x miles on most eligible purchases, with no spending caps or categories. The only exception: travel bookings made through Capital One Travel, which earn 5x miles.
Apply NowRead the Review
[+] See Details
[-] Hide Details
Capital One Spark Cash Select for Excellent Credit has a very attractive early spend bonus — one of the best around for a no-annual-fee business credit card.
There’s also the ongoing rewards program, which promises 1.5% cash back on most eligible purchases without caps or restrictions. That’s almost on par with the Spark Cash Plus card, just without the annual fee. And eligible travel purchases (including hotel and rental car bookings) still earn 5% cash back when made through Capital One Travel.
Pros
No annual fee
No caps on earning potential
Above-average early spend bonus
Cons
Cash back capped at 1.5% for most purchases
Relatively few value-added benefits
Apply NowRead the Review
[+] See Details
[-] Hide Details
Spark Cash Select for Good Credit has the same great ongoing rewards program as Spark Cash Select for Excellent Credit.
The biggest difference: Instead of an early spend bonus for cardholders who clear $4,500 in eligible purchases in the first three months, it has a 0% introductory APR promotion that applies to purchases and stretches for 12 months from account opening. If you’re planning a big purchase (or several) in the near future, this could save you hundreds of dollars in interest charges.
Pros
No annual fee
Above-average 0% intro APR promotion
No caps on cash-back earnings
Cons
No spending-based bonus for new cardholders
Cash back tops out at 1.5% for most purchases
Relatively few value-added benefits
Apply NowRead the Review
Methodology: How We Choose the Best Credit Cards for Freelancers & Side Hustlers
If you’re a freelancer or sole proprietor in the market for a credit card to cover professional expenses, you need to consider many of the same factors owners of (slightly) larger enterprises do when shopping for small-business credit cards. These are the most important criteria that we use to separate the best freelancer-friendly credit cards from the rest.
Personal Guarantee Requirement
Many freelancers and side hustlers aren’t formally incorporated and have no desire to be. Because they have no “business” in the technical sense, they have no business credit. They can’t get approved for business credit cards that don’t accept personal guarantees.
For this reason, a missing personal guarantee requirement is a deal-breaker. All the cards on this list accept personal guarantees or offer ways around them, like guarantees based entirely on business revenue rather than credit.
Credit & Income Qualification Requirements
Most credit card issuers require applicants to back up their personal guarantee (or business guarantee) by meeting certain credit and income standards. For premium business credit cards, these standards can be high — effectively out of reach of the typical freelancer or side hustler.
So we look for freelancer-friendly credit cards with more relaxed qualification standards. Most of the credit cards on this list set minimum FICO scores near 700, but they’re not as picky as top-shelf business cards and don’t ask applicants to prove they’re pulling in tens of thousands of dollars a month on top of that.
Rewards Program
Every card on this list has an above-average rewards program. When evaluating these programs, we look for cards that do one of two things:
Earn higher returns on common business purchases, such as office supplies and telecommunications
Earn an above-average flat rate of return (1.5% or above) on most or all eligible purchases
We rule out cards that only earn rewards on certain purchases or ask you to jump through too many hoops (like activating your cash back before each purchase).
Welcome Offers for New Cardholders
Most of the cards on this list have spending-based welcome offers (aka sign-up bonuses) that increase their rewards programs’ appeal. We intentionally exclude cards with uncomfortably high spending requirements — a $3,000-per-month pace or above. The remaining offers’ spending requirements are realistic for many if not most freelancers.
Other Business Benefits
Freelancers have less use for common business credit card benefits like Amazon Web Services credits and Salesforce integrations, but all else being equal, we prefer cards that offer the option. And some business credit card benefits are legitimately freelancer-friendly, like discounts on popular bookkeeping software.
Interest Rate & Introductory APR Promotions
We don’t advise anyone to carry a credit card balance if they can avoid it, but business owners — including sole proprietors — sometimes have no other option. With that in mind, we look for freelancer-friendly cards with low ongoing interest rates and long 0% APR introductory promotions.
Annual Fee
All else being equal, we prefer professional credit cards without annual fees. However, committed freelancers can offset more modest annual fees (under $100) without too much trouble, so this list isn’t entirely annual-fee-free.
Credit Card FAQs for Freelancers & Side Hustlers
Finding and applying for a freelancer-friendly credit card isn’t too much different from the process for consumer cards. Once in your hands, these cards work more or less the same as consumer cards too. But if it’s your first time, you might still have questions as you work through the process.
Do You Need to Incorporate to Get a Professional Credit Card?
Not necessarily. Freelancer-friendly credit cards generally don’t ask applicants to prove they’ve formally incorporated their business. This is a good thing for part-time freelancers who don’t want the headache (and added cost) of managing a legal business entity.
By contrast, some small-business credit cards do require formal incorporation. Those cards don’t make this list.
How Much Can You Spend on a Professional Credit Card?
It depends on two factors: whether the card has a preset spending limit, and if so, the limit’s dollar value.
Some business credit cards have no preset spending limits, including some we consider freelancer-friendly. To prevent runaway spending, these cards usually have a pay-in-full requirement, so you can’t charge more than you can afford to repay (for long, anyway). If your freelance business is thriving, these no-limit, pay-in-full cards usually offer better spending power.
Other business credit cards base spending limits on revenue. This is more common for cards that underwrite based on business credit, but if you’ve been freelancing for a while and can show consistent income, you might qualify for a generous credit limit without a business credit score.
Do Freelancer-Friendly Credit Cards Allow Personal Guarantees?
They should if they want to be on this list. Some freelancers have incorporated business entities of their own, but many don’t. This means they can’t get a business credit card that doesn’t accept personal guarantees.
Does Your Professional Credit Card Affect Your Personal Credit Score?
If you qualified using your personal credit and income, yes.
This effect can be positive, negative, or both at different times. If you use your professional credit card responsibly, your personal credit score could increase over time. If you bump up against your credit limit or miss payments on your professional credit card, your personal credit score could suffer.
What’s a Good Annual Fee for a Professional Credit Card?
The most freelancer-friendly credit cards waive annual fees altogether. However, cards with unusually generous rewards programs or perks generally charge annual fees. If you spend enough to offset these fees by earning rewards and net more than you would have with a no-annual-fee alternative, it’s worth the cost.
Final Word
Because freelancers and side hustlers are eligible for many credit cards traditionally marketed to small-business owners with employees or contractors on the payroll, this list overlaps considerably with our overall list of the best credit cards for small-business owners.
The lists aren’t identical, however.
Some of the top cards for small businesses, such as the Chase Ink Business Preferred Credit Card and the Amex Business Platinum Card, aren’t ideal for part-time entrepreneurship or freelance work due to some combination of high annual fees, strict credit underwriting requirements, and welcome offers that require heavier spending than most side hustlers can manage.
That’s not to say those cards don’t appeal to unusually prolific side hustlers.
If you’re fortunate enough to be able to scale your side business into a full-time enterprise with a balance sheet to match, you might find yourself in search of a credit card with a credit limit to meet your spending needs. When that day comes, you’ll be only too happy to trade up.
@media (max-width: 1200px)
body .ns-buttons.ns-inline .ns-button-icon width: 100%; .ns-inline .ns-button –ns-button-color: #000000;
Brian Martucci writes about credit cards, banking, insurance, travel, and more. When he’s not investigating time- and money-saving strategies for Money Crashers readers, you can find him exploring his favorite trails or sampling a new cuisine. Reach him on Twitter @Brian_Martucci.
Part One: Avoiding Pitfalls when Buying Shitloads of Stuff
Mr. Money Mustache amongst his favorite elements (sunshine, tools, dirt), setting steel posts for a fancy fence.
The New Old House project is going very well, thanks for asking. Slowly, if you measure the progress by any sort of professional standard, but very well, if you consider the fact that I am having an absolute blast working through it bit by bit.
“What a fine life this is”, I thought to myself this week, as I stood out on my spacious new concrete patio which overlooks the park, cutting out some elaborate wooden forms with a high-end cordless jigsaw. It was a very warm day, and the bright sun shining sideways from its winter solstice position lit up the whole scene like a glowing postcard. There have been many moments like this, where the deep satisfaction of solving tricky puzzles and building something big takes over my whole mind and makes me smile and chuckle to myself like a fool.
It’s not all Nailguns and Roses of course, as there have been plenty of obstacles along the way. The complex design required a lot of sourcing of tricky materials (including almost 3000 pounds of gigantic steel beams which I have been cutting and welding all week). The byzantine regulations of the 2012 International Building Code added some troubles as well, especially when interpreted by an overworked and under-motivated crew of building inspectors who often don’t return calls and emails. And my own juggling of family, friends, and construction time has resulted in a very lax work schedule. But with no looming deadlines or financial constraints and the reassurance that I have done this all before, I have had the luxury of taking each thing in stride and working through it, one call, email, and shovel at a time.
The other challenge is the odd feeling of suddenly becoming one of the biggest consumers in town. Almost every day I have to buy stuff. Tools, materials, and supplies are needed in abundance for a project like this, and so I’ve spent about $20,000 in the past three months. On top of all that steel, there is a huge pile of engineered lumber taking up most of the back driveway and more deliveries on the way. I try to remind myself that it’s an investment, and the money will be returned many times over when we sell our current house (this downsizing will free up over $100,000, even after all these renovation costs). But I still see the trucks and forklifts, steel and wood, cardboard and plastic wrap, and can’t help but notice that for now I am chewing up a huge share of my own planet just to build myself a dwelling.
Renovation is always an expensive and complex affair, but I am making a bigger effort than ever this time to take the edge off of it. I am investing extra time and effort to cut the cost and material waste involved in this project, and I thought it would be worthwhile to share some of the results with you, as a mid-project update.
Designing to Reduce Ridiculousness
When faced with a blank slate, most would-be homeowners try to cram in every possible idea and feature. “It would be nice if the kids could each have their own ensuite bathroom, and I really want that dedicated closet just for my shoes this time.” We have felt the same temptation to chase perfection, but are working to suppress it. We avoided the usual urge to add floor space to this house, and instead just re-partitioned the existing space more efficiently. After all, you only have one body and thus can only use one room at a time. Whenever any room sits unused, it consumes your resources while returning no benefit.
There’s also philosophy to consider: by now, you and I both know that adding more luxury to one’s living arrangements will not produce a happier life. But houses can still bring happiness when they meet needs: shelter, a place for family and friends to gather regularly, and a location close enough to amenities that you don’t need to engage in the proven happiness destroyer of car commuting in order to live there. Since my old house already met these needs, any project like this one must be about the journey itself. The effort, hard work, and overcoming of obstacles must be its own reward. This is definitely true for me, plus there is the endpoint of greater wealth and ongoing satisfaction of being surrounded by things I’ve built myself.
With the design mostly in place, it was time to go in search of materials. Before even beginning the shopping I was able to decrease the quantity of steel and wood required by negotiating down a few structural details with the engineer. Then I sent the design to a lumber supplier, and reviewed the resulting parts list with a fine-toothed comb to reduce waste and find less material-intensive ways to get the required strength. This was a tedious exercise that involved no rewarding sunshine or adventures with power tools, but it sliced almost $2000 from the budget right away. Smaller designs are generally smarter ones.
Craigslist Does it Again
Through Craigslist, I found an old steelyard that was going out of business in downtown Denver. There, I was able to buy about 40% of the steel beams I needed for the project, at only one fifth of the price of new steel. They were odds and ends which were of no use to the typical large commercial buyer of this product, so this find was a big score for both wallet and ec0 footprint.
By removing all seats (even front passenger) from my van, I was able to carry 1200 pounds of 13-foot segments safely home from Denver.
Reuse and Recycle
I sold the old dishwasher and fridge from the house to free up space and cash. And now I’m making a daily visit to the “Materials” section of Craigslist to scoop up any workable materials and appliances for the new design, displacing the need for newly purchased ones whenever possible.
I tore out whe whole failing spaghetti-network of copper and cast iron pipes from the crawlspace and rebuilt it with PEX and ABS, then took the whole 500-pound lot of the old stuff down to the metal recycling center so it could be melted down and re-used. They gave me a check for $108 for the copper.
And I’ve been reclaiming every 2×4 from torn-down walls and meticulously stripping out nails so I can reuse the classy old-growth Fir elsewhere. While this may not be time-efficient when new studs are only $2.88, it just feels like the right thing to do when I consider the reduction of trash and the decrease in new material purchases.
I’m also making occasional stops at the recycled building materials store, and the most amazing find so far was a brand new $500 modern-style sink with the “Lowe’s Display” sticker on it, marked down to $100 – including tax. It looks very similar to this one:
Score! A high-bling/high-quality sink for very close to free.
Discounts on Materials
If you go to the Pro desk at Home Depot or another retailer and tell them you are building a house, they will often offer some fine incentives on your larger orders. 10% off, free delivery, and price matching even on obscure items like custom windows from a brand they don’t even carry. In my area, if you have a building permit in hand you can get a reduction in the sales tax rate as well, saving hundreds more.
A Quick Credit Card Hack
To allow easier tracking of the total cost of this project, I decided to open a new, dedicated credit card just for this house. We chose the Chase Sapphire Preferred card because of its ridiculous $400 signing bonus, followed by an ongoing 1% cash back. I also took the opportunity to get a new card for my business (which in turn owns this blog) – the Chase Ink Bold which kicked in another $500*. Both of these cards require a certain amount of spending within the first 90 days to qualify for the bonus, but with house and blog-related spending currently very high, it was an ideal time to do something that is normally a bit of a hassle. With the frugal theme of this project, making the time to scoop another $900 out of the air seemed fitting.
An IKEA Kitchen
The kitchen cabinets are often the most expensive part of a renovation like this, and I have heard a $10,000 cabinet set referred to as “cheap” by my fellow builders. But there is a secret: IKEA sells assemble-it-yourself cabinets that come with top-the-line front finishes and hardware, at less than half the price of special-order or custom cabinets. On top of this, we placed our order during the November kitchen sale for a further 20% discount. Mrs. Money Mustache did most of the design and ordering work, we paid IKEA $144 to hand-pick and deliver our complex order (saving us a 120-mile roundtrip drive and a day of painful shopping) and she is now assembling the cabinets with expert craftswomanship in one of the spare bedrooms. Savings on our rather elaborate kitchen: at least $7,000.
My sketches of the kitchen design. Note the 12-foot-high wall of South-Facing windows above the sink, so I can get a tan while doing dishes in the winter.
Mrs. Money Mustache builds a drawer unit for the new kitchen
DIY, Friends, and Barter
The most obvious cost-saving measure available for homeowners is of course doing most of the work ourselves. “Easier said than done”, is a common refrain among the uninitiated, but “It’s much more fun than it sounds” is what those of us in the know say in response. I had a good handle on most of the trades from past experience, but in a project this large, there is always more to learn.
One of the first projects I dug into, for example, was replacing the whole electrical service of the house. Sure, I had done plugs and switches before, and even wiring runs and breaker boxes. But here I wanted to tear out the antiquated aerial line that dangled ominously across the back yard, entering through a crusty old hole in the shingles to feed a tragic 6-circuit service panel from over half a century ago. This would clean up the appearance of the house, as well as getting wires out of places they should not be, facilitating the upcoming roof framing.
Before: crappy wire dangles right next to back door.
It took some work: I had to coordinate the power company, the building inspector, and the labor of myself, some Mustachians who stopped by to help out on my birthday, and some gracious free advice from an electrician friend I also met through this blog. Research, phone calls, digging a deep 40-foot-long trench, running thick wires through unforgiving PVC conduit, and installing a meter panel on the outside and a breaker panel inside all took me a good several days of hard effort. I had to sledgehammer an 8-foot-long copper grounding rod into solid earth until its head was flush with the soil. But in the end, I learned in intricate detail exactly how to build out an electrical service from the ground up, and saved a few thousand dollars as a secondary reward. Today the power company hooked up my new system for the first time and cut down the old wire. As soon as they left, I plugged my construction radio into one of my brand-new outlets, cranked up the volume, and danced.
After: My spiffy install job is capped by a new digital meter with Zero kilowatt hours on the clock. Ahh, new beginnings.
This project has also provided the opportunity for some enjoyable barter with friends who are also working on their own houses. We exchange work visits with each other, where my electrical knowledge earns credits towards their framing or painting skill.
Early in this project, this group of volunteer Mustachians stopped by to help destroy this room, among other things. (At least I was able to pay them with beers and dinner at my place)
Finally, I accepted a crazy offer from a reader that is a mirror image of the Carpentourism trip I took to Hawaii last winter. An entrepreneurial young guy is driving out from California and showing up here on January 4th – in exchange for free rent, food, and an education in building houses, he will be working alongside me roughly full time during the weeks (and teaching snowboarding in the mountains on the weekends). The idea sounded just ridiculous enough to work, so we’re going for it and it will surely be a winner in all directions.
And that’s just part one. In future episodes of the New House Chronicles, we will cover“Getting Bids and Herding Cats”, “How to Do Anything Yourself”, “Building a Bathroom From Scratch”, “The Radiant Heat at 90% off Experiment”, and many more topics as they come to mind (requests?). This house project is a big and very fun part of my life these days, so you will find it creeping into the pages of MMM as well.
*While I can happily recommend these two cards since I have had good experiences with them myself, do watch out for the annual fee which kicks in after a year (I tend to cancel mine and then repeat the process the following year). Also, once you get the card, go to https://dnmoptions.chase.com/, and un-check all the ridiculous opted-in choices for extra spam. All credit card companies do this, but I have found immediately opting out keeps my snail mailbox blissfully empty. At least the Chase implementation is quick and efficient. See this blog’s credit cards page for more details.
Check your email for the following offer on any one of your Chase Business Cards:
Business bonus days are here! Earn up to 15,000 bonus points. Activate to earn an extra 5,000 bonus points for every $5,000 you spend — up to 15,000 bonus points — on all business purchases made with your Chase business card between May 1, 2023 and July 31, 2023.
There’s another version of this offer for 15,000 points with $15,000 spend which can be done three times for a total 45,000 points.
The Fine Print
To be eligible for this bonus offer, you must activate by 07/31/23 11:59 p.m. E.T.
You will qualify for and receive your bonus if you make Purchases with your credit card that total an amount at or above the specified target amount during the promotional period.
Purchases posted to your account with a transaction date during the offer period are eligible for this offer. Delays by the merchant, such as shipping, could extend the transaction date beyond the offer period.
Please allow up to 8 weeks after qualifying for bonus points to post to your account. (“Purchases” do not include balance transfers, cash advances, travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions, lottery tickets, casino gaming chips, race track wagers or similar betting transactions, any checks that access your account, interest, unauthorized or fraudulent charges, and fees of any kind, including an annual fee, if applicable.)
Bonus can be earned 3 times during the promotional period for a total maximum bonus point accumulation of 15,000 bonus points.
To qualify for this bonus offer, account must be open and not in default at the time of fulfillment.
This promotional offer is non-transferable and applies only to the account ending in the last 4 digits referenced in this offer.
Our Verdict
This offer was sent out via email, and – if eligible – I assume it would show at the Chase MyBonus catch-all page as well. If my memory serves right, in the past these offers are sent out in batches, and it’s possible more people will still be targeted.
This can be a nice way to spruce up earnings for heavy spenders. You can even do something like pay taxes with the card and knock out the spend with three $5,000 transactions. (I’m not sure if a single $15k transaction would work.) On the INK Unlimited card it’s like earning 2.5x points per dollar. On the INK Cash card it’s like earning 2x per dollar.
There are a number of Reddit reports about Chase approving people for the new Sapphire Preferred 80,000 offer/ 90,000 offer, despite their being past 5/24. That is to say, despite their having 5 new cards showing on their credit report as having been opened within the past 24 months they were able to get approved for the new Sapphire Preferred card.
Whenever these reports have arisen in the past it usually ended up just being bad math, e.g. counting business cards or counting the half-month. But this time there appears to be a few credible reports on post-5/24 approvals. It’s unlikely that 5/24 has been eliminated entirely, but it does tentatively appear that either it’s no longer an iron-clad rule or that they’ve introduced a new variable to the rule that we aren’t yet aware of.
Here are some data points in the comments confirming: 1, 2, 3, 4, 5, 6
We reported in the past on the ‘suspension’ of the 5/24 rule for Chase INK cards for a specific time period, and then we continued to see sporadic success post-5/24 on INK cards even beyond that. This was thought to be specific to Chase INK cards, yet it now appears it might be part of a broader loosening of the rules.
Big news here, but again, even if true, it will likely only affect a small percentage of card applications. Please let us know in the comments below if you have success with this on the Sapphire Preferred card, INK cards, or any other card.
(Side note, anyone applying for the Sapphire Preferred card, please use a reader’s referral link.)
During the current high-interest environment, 0% APR offers can be useful for cashing out and parking the cash in a high-yield savings account or CD. Below we list all 0% APR cards we’ve found. Bear in mind a number of caveats
Last month I was approved for another Chase INK Unlimited card. A friend pointed out that the card comes with 0% APR on purchases for the first 12 months. I’ve never played the APR game, and this detail completely slipped my attention. Given that Chase does not report balances on business cards to the personal […]
The Marriott Bonvoy Business® American Express® Card is a hotel rewards card and business credit card with a $125 annual fee. See rates and fees. Every Marriott Bonvoy Business American Express Card purchase earns Marriott Bonvoy points, Marriott’s loyalty program currency. Once you accumulate enough points, you can redeem for free nights and room upgrades at thousands of participating Marriott hotels