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9 Best Credit Cards for Self-employed Workers & Independent Contractors 2019

The best credit cards for self-employed workers in 2019 help keep sole proprietors on budget. They charge no annual fees, keep ongoing interest rates low, and offer introductory 0% financing on purchases and balance transfers for nine months or more. Some cards even offer introductory rewards of up to $500 and ongoing rewards of 5%.

Top 9 Credit Cards for Self-employed Workers & Independent Contractors May 2019

Credit Card Best For
Chase Ink Business Cash℠ (Best Overall) Owners who want excellent introductory and ongoing rewards
American Express Blue Business℠ Plus Independent contractors seeking interest-free financing and fixed-rate rewards
Discover it Cash Back Self-employed workers seeking unlimited 2% cash back
Chase Ink Business Unlimited℠ Owners who want both fixed-rate rewards and a $500 intro bonus
Bank of America® Business Advantage Travel Rewards World Mastercard® Independent contractors who want travel rewards
Bank of America® Business Advantage Cash Rewards Mastercard® Self-employed workers seeking rewards on gas spending
American Express SimplyCash® Plus Owners who want diverse category rewards
U.S. Bank Cash+ Visa Signature Card Independent contractors who want to pick their category rewards
Chase Slate Self-employed workers who want to transfer a balance for free

What’s Changed With the Best Credit Cards for Self-employed Workers

We originally published this article in February 2019. We update this article regularly because the banks, credit unions, and other providers we cover change their product offerings frequently. We also monitor interest rate changes from the Federal Reserve. The central bank held rates steady at its March meeting. Three cards on our list recently changed their 0% annual percentage rate (APR) offers while another card boosted its ongoing APR.

Recent changes with the largest impact on our list of the best credit cards for self-employed workers include changes to APRs on balance transfers, length, and rewards. READ MORE

American Express Blue BusinessSM Plus Reduces Intro APR length

American Express Blue BusinessSM Plus consistently has been our top pick among 0% APR business credit cards because of its lengthy introductory offer and its low ongoing APR. In April, the issuer made changes that made both features less appealing, causing us to knock this card out of the top spot on our list.

American Express shortened to 12 months from 15 the length of the 0% introductory APR on purchases and balance transfers. It also increased the low end of its ongoing APR range two percentage points to 15.49% from 13.49%. The ongoing APR is now two percentage points higher than the card with the lowest possible APR on our list.

Two Chase Business Credit Cards Eliminate 0% APR on Balance Transfers

In April, Chase Ink Business CashSM and Chase Ink Business UnlimitedSM discontinued its introductory 0% APR offers on balance transfers. The two cards had offered 12 months of no-interest financing on transfers. You still will receive 0% APR on purchases for 12 months.

These changes didn’t impact our rankings. In the past, we recommended owners choose a different credit card if they wanted to transfer a balance. On both cards, Chase charges a high balance transfer rate of 5%. The best cards for balance transfers charge either 0% or 3%.

Bank of America® Business Advantage Cash Rewards Mastercard® Increases Introductory Rewards and Ongoing APR

Bank of America in April increased the requirements to qualify for its introductory rewards on this small business credit card. However, it also made the bonus more attractive. The issuer raised the offer to $300 from $200, but you’ll now need to spend $3,000 within 90 days ― up from $500 over 60 days ― to qualify.

You’ll also pay a higher ongoing APR, as the Bank of America® Business Advantage Cash Rewards Mastercard® now comes with a variable 14.49% to 24.49% APR. That’s up a percentage point on both ends of the range. Neither change was enough to alter where this card falls in our rankings.
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How We Evaluated the Best Credit Cards for Self-employed Workers

Credit cards for self-employed and independent contractors offer sole proprietors access to inexpensive credit to help build their small business. All of the cards on our list charge no annual fee, while the top cards offer no-interest introductory periods of 12 months or longer and ongoing APRs of 15% or less.

We considered the following criteria in determining the best small business credit cards for self-employed workers:

  • Introductory APR: Whether the card offers self-employed workers a period of no-interest financing on purchases or balance transfers; the best 0% APR business credit cards offer an introductory period of nine to 14 months
  • Ongoing APR: How much financing business credit cards for self-employed workers costs; the cards on our list offer ongoing APRs as low as 13.49%
  • Annual fee: How much you’ll pay each year to own a card; all of the cards on our list charge no annual fee
  • Balance transfer fee: How much you’ll be charged for transferring` a balance from another credit card; the cards on our list charge fees of 0% to 5% of the transfer
  • Introductory rewards: What you’ll earn for reaching minimum spending requirements within several months of card ownership; cards on this list offer rewards worth as much as $500 after you spend $3,000 within three months of account opening
  • Ongoing rewards: The points or cash back you’ll earn by using your business card; cards on our list offer either a flat rate on all spending up to two points per dollar spent or tiered rewards worth up to 5% cash back on certain bonus categories
  • Additional benefits: Whether the card comes with free perks that may increase its value, like rental car insurance and extended warranty protection

You’ll need a good personal credit score of 700 or better to qualify for these small business credit cards, but you don’t have to be incorporated.

How Self-employed Workers Can Qualify for a Small Business Credit Card

Most, but not all, of the cards on our list are small business credit cards. If you’re self-employed or an independent contractor, you can qualify for a small business credit card. Even if you sell items on the side on Amazon, eBay, or Etsy, that’s enough to qualify in the eyes of issuers. If you don’t have a tax identification number or employee identification number, you can apply using your Social Security number.

We’ve researched dozens of small business credit cards to find the ones best suited for independent contractors, freelancers, and self-employed workers. Our pick for the best credit card for self-employed workers is the Chase Ink Business Cash card. It offers a long 0% introductory APR period on purchases and excellent introductory and ongoing rewards.

Chase Ink Business Cash℠: Overall Best Credit Card for Self-employed Workers

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The Chase Ink Business CashSM card is best for self-employed workers looking for a top combination of introductory and ongoing rewards. You’ll earn $500 cash back after spending $3,000 within three months and as much as 5% cash back in ongoing rewards. No other card on our list offers a better combination of benefits. The ongoing APR is as low as 15.49%.

Chase Ink Business Cash℠ Costs

Financing costs and fees on the Chase Ink Business Cash include:

  • Introductory APR: 0% APR for 12 months on purchases
  • Ongoing APR: 15.49% to 21.49%, which adjusts with the prime rate
  • Annual fee: None
  • Balance transfer fee: Either $5 or 5% of the balance transferred, whichever is greater

If you regularly carry a balance, Chase Ink Business Cash is a solid choice — at least for the first year of card ownership. The introductory 0% APR on purchases could help you manage cash flow, but you’ll want to make sure to pay off your balance in full before the intro period expires. Other cards on our list offer better ongoing APRs, including the Bank of America® Business Advantage Travel Rewards World Mastercard®.

Chase Ink Business Cash℠ Rewards

This card offers higher rewards on office supply and telecommunications services purchases than many other small business credit cards. It also pays bonus cash back rewards on gas station and restaurant purchases, and awards one of the highest sign-up bonuses available on a small business credit card that charges no annual fee.

Introductory Rewards

Chase Ink Business Cash offers $500 cash back after you spend $3,000 within your first three months.

Chase Ink Business Unlimited℠ also offers this sign-up bonus, the highest on our list. Business credit cards that charge no annual fee rarely offer introductory rewards this lucrative.

Ongoing Rewards

You’ll earn the following cash back rewards when using your card:

  • 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, cellular phone and landline services each account anniversary year, then 1%
  • 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year, then 1%
  • 1% cash back on all other purchases

The American Express SimplyCash® Plus card also pays 5% cash back on office supply purchases, but its annual spending limit is $50,000. Only the Bank of America® Business Advantage Cash Rewards Mastercard® offers a similar combination of gas and restaurant rewards.

Chase Ink Business Cash℠ Additional Features

If you rent cars frequently for business, the protection this card offers may prove beneficial, along with other purchase insurance:

  • Auto rental collision damage waiver: Coverage is primary — meaning it replaces any coverage your personal insurance might offer — when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad
  • Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
  • Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less

This is a similar package of benefits as several other cards on this list offer, although the purchase protection lasts longer than the 90 days offered by the U.S. Bank Cash+ Visa Signature. Chase Ink Business Unlimited and U.S. Bank Cash+ Visa Signature also offer free rental insurance.

What Chase Ink Business Cash℠ Is Missing

Self-employed workers who have travel expenses won’t benefit from the Chase Ink Business Cash because it doesn’t offer rewards for airfare or hotel purchases. Indeed, the best credit cards for self-employed workers rarely offer bonus categories that cover travel, although the Bank of America® Business Advantage Travel Rewards World Mastercard® pays three points per dollar on travel spending.

Chase Ink Business Cash℠ Reviews

We considered both user reviews and our own editorial review when rating this card. Chase Ink Business Cash℠ reviews typically are very positive. The card earns high marks from users for its introductory and ongoing rewards. Some reviews suggest the card could add more bonus categories, especially covering travel purchases.

User Reviews

We found numerous user reviews for this card applauding how the rewards are tailored for their business spending. Users also like that there’s no annual fee. Some say the ongoing APR is too high. On the low end of the range, this card’s APR is actually a bit better than average. The high end of the range is also about three percentage points lower than some cards charge.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Chase Ink Business Cash℠ is one of the best small business credit cards. We especially like these three attributes: introductory rewards, ongoing rewards, and a lengthy 0% introductory APR offer. This card could improve by adding travel rewards.

Where to Apply for Chase Ink Business Cash℠

Apply for the Chase Ink Business Cash online by filling out a basic application. Be prepared to provide both business and personal information. You may be approved instantly. If you are, expect to receive your card in the mail within seven to 10 days.

Apply Now

American Express Blue Business℠ Plus: Best Credit Card for Self-employed Workers for 0% Financing & Rewards

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The American Express Blue Business℠ Plus card is best for self-employed workers looking for a combination of a long interest-free introductory period and its fixed-rate rewards on all spending. You’ll receive 0% introductory APR for 12 months on purchases and balance transfers and 2x Membership Rewards points on all spending, up to $50,000 annually. The ongoing APR is as low as 15.49%.

American Express Blue Business℠ Plus Costs

Financing costs and fees on the American Express Blue Business℠ Plus include:

  • Introductory APR: 0% for 12 months on purchases and balance transfers
  • Ongoing APR: 15.49% to 21.49%, which will adjust based on the prime rate
  • Annual fee: None
  • Balance transfer fee: $5 or 3% of the transfer, whichever is greater

Among credit cards with 0% interest, Blue Business℠ Plus offers one of the longest no-interest periods on purchases balance transfers. This interest-free period will allow you to plan ahead for future business needs. On the low end of the range, its ongoing APR is about two percentage points higher than the offer from the Bank of America® Business Advantage Travel Rewards World Mastercard®.

American Express Blue Business℠ Plus Rewards

You’ll earn no introductory rewards, but cardholders will earn 2x Membership Rewards points on all spending up to $50,000 a year, then one point per dollar spent. There are no bonus categories to track.

Introductory Rewards

Blue Business℠ Plus offers no sign-up bonus. It is one of just three of the best credit card deals for self-employed workers without an introductory reward — including the American Express SimplyCash® Plus and Chase Slate.

Ongoing Rewards

You’ll earn the following ongoing rewards with the American Express Blue Business℠ Plus:

  • Two points per dollar on all purchases up to $50,000 each year
  • One point per dollar on all additional purchases

Membership Rewards points can be redeemed for airfare or other paid travel through American Express Travel, gift cards or statement credits against eligible charges. When redeemed for statement credits, points are worth 1 cent each, meaning this is a 2% credit card, the only on our list. Chase Ink Business Cash offers larger rewards in certain purchasing categories like office supplies — 5% — but only 1% on everyday spending.

American Express Blue Business℠ Plus Additional Features

The American Express Blue Business℠ Plus comes with several additional features, including:

  • Baggage insurance: American Express offers a benefit for any luggage damaged, lost or stolen on any “air, land or water vehicle, other than a personal or rental vehicle”; the benefit is good for up to $1,250 for carry-on luggage and $500 for checked luggage
  • Extended warranty: American Express will match the length of the original manufacturer’s warranty if it’s less than two years; American Express provides an additional two years if the original manufacturer’s warranty is between two and five years; coverage is limited to $10,000 per occurrence and $50,000 per account each year
  • Purchase protection: The issuer will repair, replace or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase; coverage is limited to $1,000 per occurrence and $50,000 per account each year
  • Expanded buying power: If you have a large purchase, you may be able to spend above your credit limit; the portion of your account balance that is above your credit limit is due in full each month as part of your minimum payment due

The American Express SimplyCash® Plus is the only other card on our list to offer baggage insurance and expanded buying power. Several other cards offer extended warranty and purchase protection, including U.S. Bank Cash+ Visa Signature, but the purchase protection coverage on this card lasts just 90 days.

What American Express Blue Business℠ Plus Is Missing

American Express Blue Business℠ Plus doesn’t offer introductory rewards, while other cards on our list like Chase Ink Business Cash offer sign-up bonuses worth as much as $500. You’ll also earn fixed-rate ongoing rewards, which may not favor businesses that spend heavily in certain categories — like airfare or gas — where other cards offer enhanced rewards of up to 5%.

American Express Blue Business℠ Plus Reviews

We considered both user reviews and our own editorial review when rating this card. American Express Blue Business℠ Plus reviews are generally positive, as owners say they enjoy earning fixed-rate rewards on all spending. Both the card’s points-based rewards system and its lengthy 0% introductory also offer draw praise.

User Reviews

We found numerous online reviews from users who own this card. Owners say the card provides good value as you’ll earn two points per dollar on all spending. Some cardholders say they were disappointed this card doesn’t offer introductory rewards.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. The American Express Blue Business℠ Plus is one of the best business credit cards for owners who need to carry or transfer a balance. It offers 0% introductory APR for 12 months on purchases and balance transfers. That’s one of the longest introductory periods available on a small business credit card. This card isn’t as valuable as some others that offer bonus category rewards.

Where to Apply for the American Express Blue Business℠ Plus

Apply for the American Express Blue Business℠ Plus credit card online. If approved, the 12-month introductory APR period starts as soon as you receive your 0% business credit card.

Apply Now

Discover it Cash Back: Best Credit Card for Self-employed Workers for Unlimited 2% Cash Back

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Discover it Cash Back is a personal credit card best for owners looking to maximize rewards during their first year of card ownership. Instead of offering a typical introductory offer, Discover will match — or double — all of the rewards you earn in the first year. You could earn 10% on up to $1,500 in category spending that rotates each quarter, and 2% on everything else the first year. The ongoing APR is as low as 14.24%.

Discover it Cash Back Costs

Financing costs and fees on the Discover it Cash Back include:

  • Introductory APR: 0% introductory APR on purchases and balance transfers for 14 months
  • Ongoing APR: 14.24% to 25.24%, which adjusts with the prime rate
  • Annual fee: None
  • Balance transfer fee: 3% of the amount transferred

The introductory APR is just one month less than what Chase Slate offers. Discover it Cash Back has the second lowest possible ongoing APR among credit cards on our list behind the Bank of America® Business Advantage Travel Rewards World Mastercard®.

Discover it Cash Back Rewards

A good rule of thumb to follow when choosing a rewards card: Find one that can get you as close to 2% on all your spending as possible. Discover guarantees this during the first year with its unusual introductory reward offering to match all your first-year cash back. Every other card with an introductory offer caps the maximum reward you can receive. Ongoing rewards are as high as 5% in bonus categories.

Introductory Rewards

Instead of a traditional introductory rewards offer, Discover will match all of the cash back you earned at the end of your first year automatically. No other card on our list has a similar offer.

Ongoing Rewards

Earn the following cash back rewards when using your card:

  • 5% cash back — doubled the first year — on rotating quarterly categories like gas stations, grocery stores, and restaurants on up to $1,500 in spending each quarter.
  • 1% cash back — doubled the first year — on all other purchases

The other cards with bonus categories on our list all offer higher spending caps. Chase Ink Business Cash, for example, pays 5% on the first $25,000 spent in combined purchases at office supply stores and on Internet, cable, cellular phone, and landline services each account anniversary year, then 1%.

Discover it Cash Back Additional Features

Discover does not offer many of the features like purchase protection and extended warranty protection that are standard on cards like the U.S. Bank Cash+ Visa Signature Card. It does offer some unique features like a late fee waiver and the ability to freeze your account using your smartphone.

Discover it Cash Back offers these additional features:

  • Account lock: Freeze your account in seconds to prevent new purchases with an on/off switch available on both the mobile app and website
  • Late fee waiver: You’ll pay no late fee the first time your payment is late; late fees are up to $37 thereafter

What Discover it Cash Back Is Missing

Discover it Cash Back requires you to register your card each quarter to earn the bonus rewards — and you can only earn 5% cash back on up to $1,500 in spending. No other card on our list has quite this many restrictions. If you own a startup business, registering your card may be an unwanted distraction. Plus, since this is a personal credit card, you won’t be able to build your business credit by using this card responsibly.

Discover it Cash Back Reviews

We considered both user reviews and editorial reviews when rating Discover it Cash Back. Customers generally endorse the card’s rewards and ease of use. However, the rewards program does require cardholders to put in some effort. You must register your card to earn bonus rewards — and you’ll have to remember the $1,500 quarterly spending cap.

User Reviews

Online reviews for Discover it Cash Back are very positive. Users say they enjoy the cash back rewards, low APRs, and hassle-free customer service. Some complain that Discover isn’t as widely accepted as Visa and that some stores like Walmart are restricted from the 5% category offers.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Discover it Cash Back offers some fantastic first-year value with its pledge to double all of the cash back you earn. It also offers the potential to haul in up to 5% cash back after the first year. However, we don’t like that you have to register your card to earn the quarterly bonus rewards.

Where to Apply for the Discover it Cash Back

Apply online directly with Discover for the Discover it Cash Back card. You may get an instant response, and your card should arrive in the mail within seven to 10 business days.

Apply Now

Chase Ink Business Unlimited℠: Best Intro Rewards on a Fixed-rate Credit Card for Self-employed Workers

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Chase Ink Business Unlimited is best for business owners looking for a solid $500 cash back after spending $3,000 in the first three months and a fixed rate on ongoing rewards. The ongoing APR is as low as 15.49%, which is the same as what the American Express Blue Business℠ Plus offers.

Chase Ink Business Unlimited℠ Costs

Financing costs and fees on the Chase Ink Business Unlimited include:

  • Introductory APR: 0% APR for 12 months on purchases
  • Ongoing APR: 15.49% to 21.49, which adjusts with the prime rate
  • Annual fee: None
  • Balance transfer fee: Either $5 or 5% of the balance transferred, whichever is greater

If you need to transfer a high-interest credit card balance, this isn’t the right card for you. Chase Ink Business UnlimitedSM doesn’t offer 0% interest on balance transfers. The American Express Blue Business℠ Plus card offers a similar introductory period (12 months) on purchases, but also offers an interest-free period on balance transfers.

Chase Ink Business Unlimited℠ Rewards

Along with the ongoing rewards of 1.5% cash back on all spending, this card also comes with a great introductory bonus — the highest among cards on our list, tied with the Chase Ink Business Cash.

Introductory Rewards

You’ll earn $500 cash back after you spend $3,000 in the first three months. Compare that with the $300 you’ll receive after spending $3,000 within three months with the Bank of America® Business Advantage Cash Rewards Mastercard®.

Ongoing Rewards

You’ll earn unlimited 1.5% cash back on all purchases, regardless of spending category. That’s lower than the two points per dollar spent the American Express Blue Business℠ Plus offers.

Chase Ink Business Unlimited℠ Additional Features

Chase Ink Business Unlimited offers several protections, including:

  • Auto rental collision damage waiver: Coverage is primary — meaning it replaces any coverage your personal insurance might offer — when renting for business purposes; it provides reimbursement up to the actual cash value of the vehicle for theft and collision damage for most cars in the U.S. and abroad
  • Purchase protection: Covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account per year
  • Extended warranty protection: Extends the time period of the U.S. manufacturer’s warranty by an additional year on eligible warranties of three years or less

Note that the purchase protection benefit lasts longer than the 90 days offered by the U.S. Bank Cash+ Visa Signature. The extended warranty protection isn’t quite as good as what the American Express Blue Business℠ Plus offers.

What Chase Ink Business Unlimited℠ Is Missing

The fixed-rate cash back rewards rate Chase Ink Business Unlimited offers is lower than other cards offer in bonus categories, like the Chase Ink Business Cash. That card pays 5% cash back on up to $25,000 in annual spending on office supplies and telecommunications services. This Chase card also offers a lower fixed-rate reward — two points per dollar spent — than the American Express Blue Business℠ Plus.

Chase Ink Business Unlimited℠ Reviews

We considered both user reviews and our own editorial review when rating this card. Chase Ink Business Unlimited℠ reviews are very good, although not as positive as reviews for Chase Ink Business CashSM. Because it offers 1.5% cash back on all purchases, this Chase small business card probably shouldn’t be your go-to card for all spending.

User Reviews

Users like the 12-month introductory APR as well as the strong introductory rewards, but say the ongoing rewards aren’t competitive with other cards that offer fixed-rate rewards. Indeed, the American Express Blue Business℠ Plus pays two points per dollar on all spending up to $50,000 annually.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Chase Ink Business Unlimited℠ offers excellent introductory rewards for a small business credit card that charges no annual fee. Its ongoing rewards are weaker than other cards, but if you use this card strategically, you can earn above-average rewards for everyday spending not covered by other cards’ bonus categories.

How to Apply for Chase Ink Business Unlimited℠

You can apply for the Chase Ink Business Unlimited business card directly through Chase’s website. Once you apply, you can get an approval decision in just a few minutes. You should receive your card within seven to 10 days.

Apply Now

Bank of America® Business Advantage Travel Rewards World Mastercard®: Best Travel Rewards Credit Card for Independent Contractors

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The Bank of America® Business Advantage Travel Rewards World Mastercard® is best for self-employed workers who travel. You’ll earn three points per dollar spent on travel purchases without having to pay an annual fee. The ongoing APR is as low as 13.49%.

Bank of America® Business Advantage Travel Rewards World Mastercard® Costs

Financing costs and fees on the Bank of America® Business Advantage Travel Rewards World Mastercard® include:

  • Introductory APR: 0% on purchases for nine billing cycles
  • Ongoing APR: 13.49% to 23.49% APR, which adjusts with the prime rate
  • Annual fee: None
  • Balance transfer fee: Either $10 or 4% of the amount of each transaction, whichever is greater

The introductory APR is the shortest of any card on our list, and, unlike the American Express Blue Business℠ Plus, Bank of America offers no intro APR on balance transfers. Bank of America offers a possible ongoing APR that is the lowest on our list.

Bank of America® Business Advantage Travel Rewards World Mastercard® Rewards

This card offers introductory rewards worth $250 in travel. You’ll also earn ongoing rewards on travel purchases, including airfare, car rentals, and hotel stays. Everyday purchases are worth 1.5 points per dollar spent.

Introductory Rewards

You’ll earn 25,000 bonus points when you make at least $1,000 in net purchases in the first 60 days with your Bank of America business card.

These points can be redeemed for a $250 statement credit toward travel purchases. This introductory offer is low compared with other cards on our list, including the Chase Ink Business Cash, which offers $500 cash back after spending $3,000 within the first three months.

Ongoing Rewards

You’ll earn points as you use the card for the following purchases:

  • 3 points per dollar spent on travel purchases — car, hotel, and airline — booked through Bank of America Travel Center
  • 1.5 points per dollar spent on all other purchases

The Bank of America® Business Advantage Travel Rewards World Mastercard® is the only card on our list that offers rewards specifically for travel. It’s 1.5 points for every dollar spent on other purchases is equal to what the Chase Ink Business Unlimited pays.

When you enroll in the Business Advantage Relationship Rewards program, you can get an additional 25% to 75% rewards bonus on every purchase you make. That means you can earn up to an unlimited 2.62 points on all purchases, which is a higher rate than any other card on this list offers for everyday spending. However, to earn that rate, you have to have at least $100,000 deposits or investments with the bank.

Bank of America® Business Advantage Travel Rewards World Mastercard® Additional Features

The Bank of America® Business Advantage Travel Rewards World Mastercard® doesn’t come with nearly as many perks as the other best business rewards credit cards. You will receive up to $100,000 in travel accident insurance, which covers you in case of loss of life or dismemberment. The only other cards on our list to offer this benefit are the American Express Blue Business℠ Plus and the American Express SimplyCash® Plus.

What Bank of America® Business Advantage Travel Rewards World Mastercard® Is Missing

Cardholders won’t receive great rewards for office expense purchases like the American Express SimplyCash® Plus offers. This card is mainly only for owners who travel frequently, but who aren’t ready for a card that charges an annual fee. The introductory rewards are lower than the $500 cash back offered by the Chase Ink Business Cash card.

Bank of America® Business Advantage Travel Rewards World Mastercard® Reviews

We considered both user reviews and our own editorial review when rating this card. Bank of America® Business Advantage Travel Rewards World Mastercard® reviews are generally very positive. This card offers good value and charges no annual fee. But it also lacks many of the benefits — like airport lounge access — offered by travel rewards cards that charge an annual fee.

User Reviews

Cardholders enjoy the rewards they can earn with the card but note that rewards aren’t as high as those provided some other travel credit cards, like the American Express Business Platinum Card®, which pays 5x points on airfare and hotels. The American Express card charges a $595 annual fee.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviews for this Bank of America business card call this a solid choice for business owners looking for their first travel rewards card. It’s also ideal for owners leery of paying annual fees. But this card can’t compete with other travel rewards credit cards when it comes to card benefits.

How to Apply for the Bank of America® Business Advantage Travel Rewards World Mastercard®

You can apply for the Bank of America® Business Advantage Travel Rewards World Mastercard® by filling out a basic online application and potentially getting instant approval. The entire process can be completed within a matter of a few minutes, and you’ll receive your card within seven to 10 days.

Apply Now

Bank of America® Business Advantage Cash Rewards Mastercard®: Best Credit Card for Self-employed Workers for Gas Rewards

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The Bank of America® Business Advantage Cash Rewards Mastercard® is best for business owners with frequent gasoline expenses. It also offers above-average ongoing rewards on restaurant spending and an ongoing APR as low as 14.49%.

Bank of America® Business Advantage Cash Rewards Mastercard® Costs

Financing costs and fees on the Bank of America® Business Advantage Cash Rewards Mastercard® include:

  • Introductory APR: 0% for nine billing cycles on purchases
  • Ongoing APR: 14.49% to 24.49%, which will adjust based on the prime rate
  • Annual fee: None
  • Balance transfer fee: Either $10 or 4% of the amount of each transaction, whichever is greater.

This card offers no introductory offer on balance transfers and — unlike Chase Slate — charges a balance transfer fee. Pick another no-interest credit card from our list if you need to transfer balances.

Bank of America® Business Advantage Cash Rewards Mastercard® Rewards

You’ll need to make just $3,000 in spending during the first 90 days after you open your account to qualify for the introductory $300 statement credit. Ongoing rewards are best for gas or office supply purchases.

Introductory Rewards

Earn a $300 statement credit when you make at least $3,000 in net purchases within 90 days of your account opening. Chase Ink Business Cash℠ offers the best introductory offer, $500 after you spend $3,000 within the first three months of account opening.

Ongoing Rewards

Earn the following ongoing rewards when using your card:

  • 3% cash back on your choice of one of the following six categories: gas stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services (for the first $50,000 in combined choice category/dining purchases each calendar year, 1% thereafter)
  • 2% cash back at restaurants
  • 1% cash back on all other purchases

Only the Chase Ink Business Cash offers rewards on gas purchases, but that card pays just 2% cash back. Ink Business Cash does offer better office supply spending rewards at 5%.

This card offers unique bonus value for businesses that have a Bank of America checking or savings account. Enroll in the Business Advantage Relationship Rewards program to receive an additional 25% to 75% rewards bonus on every purchase. These tiered-relationship bonuses begin when you have at least $20,000 in assets with the bank. Only the Bank of America® Business Advantage Travel Rewards World Mastercard® offers a relationship bonus.

Bank of America® Business Advantage Cash Rewards Mastercard® Additional Features

This card doesn’t come with nearly as many perks as other cards on our list. You will receive up to $100,000 in travel accident insurance, which covers you in case of loss of life or dismemberment. Cards like the Chase Ink Business Cash card offer additional benefits like purchase protection and car rental insurance.

What the Bank of America® Business Advantage Cash Rewards Mastercard® Is Missing

You’ll find a better rewards rate on office supply spending with other business cards like the American Express SimplyCash® Plus at 5%. The introductory bonus is the lowest among the cards on our list that offer a welcome bonus.

Bank of America® Business Advantage Cash Rewards Mastercard® Reviews

We considered both user reviews and our own editorial review when rating this card. Bank of America® Business Advantage Cash Rewards Mastercard® reviews generally are mixed. This card is inexpensive to own, but the low APR and lack of an annual fee do come with a cost. Rewards and benefits aren’t as good on this Bank of America business card as on other cards.

User Reviews

Bank of America® Business Advantage Cash Rewards Mastercard® users like the introductory 0% APR, the lack of an annual fee, and the ability to earn up to 3% ongoing cash rewards. However, some complain the introductory rewards aren’t as high as other cards offer.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Editorial reviews find the Bank of America® Business Advantage Cash Rewards Mastercard® to be a decent card, but not among the top tier small business credit cards. It offers good, but not great, ongoing rewards and good, but not great, introductory rewards.

Where to Apply for the Bank of America® Business Advantage Cash Rewards Mastercard®

Apply for the Bank of America® Business Advantage Cash Rewards Mastercard® online directly with Bank of America. The application takes five to 10 minutes to complete, and you should get a response quickly. New cards are typically received within two weeks.

American Express SimplyCash® Plus: Best Credit Card for Self-employed Workers for Category Rewards best small business credit card

The American Express SimplyCash® Plus Business Credit Card is best for companies with varying spending needs that want to pick which bonus spending category earns top rewards. The card pays 3% on up to $50,000 in annual spending, then 1% afterward, from one of eight categories from which you can choose. The ongoing APR is as low as 14.49%.

American Express SimplyCash® Plus Costs

Financing costs and fees on the American Express SimplyCash® Plus include:

  • Introductory APR: 0% for nine months on purchases
  • Ongoing APR: 14.49% to 21.49%, which will adjust based on the prime rate
  • Annual fee: None

American Express SimplyCash® Plus doesn’t allow balance transfers. If you need to transfer debt from a high-interest credit card, look to a card like the American Express Blue Business℠ Plus, which offers 0% APR on balance transfers for 12 months. The ongoing APR is slightly higher than other cards on our list offer, like the Bank of America® Business Advantage Travel Rewards World Mastercard®.

American Express SimplyCash® Plus Rewards

The American Express SimplyCash® Plus ongoing rewards are generous, particularly when it comes to office supply spending. You’ll earn the same 5% cash back at U.S. office supply stores with this card as you would with Chase Ink Business Cash, but the $50,000 spending cap is twice as much as the Chase card allows.

Introductory Rewards

The American Express SimplyCash® Plus currently offers no introductory sign-up bonus.

Ongoing Rewards

You’ll earn the following rewards when using your card:

  • 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers on up to $50,000 in purchases during a calendar year, then 1%
  • 3% cash back on up to $50,000 in annual spending, then 1% afterward, from one of eight categories you pick from: airfare purchased directly from airlines, hotel rooms purchased directly from hotels, car rentals purchased from select car rental companies, U.S. gas stations, U.S. restaurants, U.S. purchases for advertising in select media, U.S. purchases for shipping or U.S. computer hardware, software, and cloud computing purchases made directly from select providers
  • 1% cash back on all other eligible spending

This is the only card on our list that offers bonus rewards on Internet advertising, which could come in handy for firms that use Facebook Ads or Google Ads to support their business.

American Express SimplyCash® Plus Additional Features

The American Express SimplyCash® Plus includes both familiar purchase protection and extended warranty protection policies available on cards like the American Express Blue Business℠ Plus card and some rare benefits, including baggage insurance.

American Express SimplyCash® Plus includes the following benefits:

  • Baggage insurance: American Express offers a benefit for any luggage damaged, lost or stolen on a common carrier, like a plane; the benefit is good for up to $1,250 for carry-on luggage and $500 for checked luggage
  • Extended warranty: American Express will match the length of the original manufacturer’s warranty if it’s less than two years; the issuer provides an additional two years if the original manufacturer’s warranty is between two and five years; coverage is limited to $10,000 per occurrence and $50,000 per account each year
  • Purchase protection: The issuer will repair, replace or reimburse you for an item purchased with the card that was damaged or stolen within 120 days of purchase; coverage is limited to $1,000 per occurrence and $50,000 per account each year
  • Expanded buying power: If you have a large purchase, you may be able to spend above your credit limit; the portion of your account balance that is above your credit limit is due in full each month as part of your minimum payment due

The American Express Blue Business℠ Plus is the only other card on our list to offer baggage insurance and expanded buying power. Several other cards offer extended warranty and purchase protection, including U.S. Bank Cash+ Visa Signature, but its purchase protection coverage lasts just 90 days.

What the American Express SimplyCash® Plus Is Missing

This card offers no introductory rewards, so you’ll have no opportunity to earn a sign-up bonus. Many other small business credit cards offer introductory rewards. You’ll want to avoid this card when traveling overseas, not only because you’ll pay foreign transaction fees, but because American Express isn’t as widely accepted as Visa or Mastercard.

American Express SimplyCash® Plus Reviews

We considered both user reviews and our own editorial review when rating this card. For businesses with more than $25,000 in office supply expenses annually, the American Express SimplyCash® Plus is the go-to card because it has a higher spending cap at $50,000 than the Chase Ink Business Cash℠ card. It doesn’t offer a sign-up bonus, which is a real turn-off for some.

User Reviews

Users love the flexibility to pick their spending category for 3% cash back rewards. You can choose from eight different spending categories, like advertising expenses and car rentals. In online reviews, we found a number of users who wish this card offered introductory rewards.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. American Express SimplyCash® Plus offers excellent ongoing rewards tailored for office-based small businesses. For businesses that travel frequently, there are better choices, including the annual- fee-free Bank of America® Business Advantage Travel Rewards World Mastercard® on this list.

Where to Apply for American Express SimplyCash® Plus

Apply for the American Express SimplyCash® Plus card online directly through the American Express website. If approved, your card should arrive in the mail within seven to 10 business days.

U.S. Bank Cash+ Visa Signature Card: Best Credit Card for Self-employed Workers for Flexible Rewardsbest credit cards for self employed

The U.S. Bank Cash+ Visa Signature Card is a personal credit card that is best for self-employed workers who want to choose their top rewards. It allows you to choose from a list of 12 categories the two that will earn 5% cash back on up to $2,000 in spending each quarter. No other card on our list offers such flexibility. Ongoing APR is as low as 16.24%, which is among the highest APRs on our list.

U.S. Bank Cash+ Visa Signature Card Costs

Financing costs and fees on the U.S. Bank Cash+ Visa Signature Card include:

  • Introductory APR: 0% introductory APR for the first 12 billing cycles on any balances transferred within 60 days from account opening; there is no intro APR on purchases.
  • Ongoing APR: Variable rate of 16.24% to 25.74%, which adjusts with the prime rate
  • Annual fee: None
  • Balance transfer fee: $5 or 3% of the balance transfer, whichever is higher.

U.S. Bank Cash+ Visa Signature Card Rewards

U.S. Bank allows users to choose two categories each quarter that will earn 5% (from a list of 12) in ongoing rewards and one category that will earn 2%. Among the cards that offer introductory rewards, the U.S. Bank Cash+ Visa Signature Card offers the smallest bonus, but also has the lowest spending requirement.

Introductory Rewards

Earn $150 cash bonus after making $500 in eligible net purchases within the first 90 days of account opening

Ongoing Rewards

Earn the following ongoing rewards:

  • 5% cash back on your first $2,000 in combined eligible net purchases each quarter on two categories you choose from a group of 12
  • 2% cash back on one category that you choose from gas stations, restaurants, and grocery stores
  • 1% cash back on all other spending

The 12 spending categories that could earn 5% cash back include home utilities, ground transportation, select clothing stores, wireless phone service providers, electronics stores, car rentals, gyms and fitness centers, fast food, sporting goods stores, department stores, furniture stores, and movie theaters.

There are no cards on our list that have this diverse a selection of potential bonus categories. In fact, only the Chase Ink Business Cash and the Bank of America® Business Advantage Cash Rewards Mastercard®, offer dining or wireless service rewards.

U.S. Bank Cash+ Visa Signature Card Additional Features

US Bank offers several fairly standard benefits you’ll find on many other credit cards, including:

  • Extended warranty: U.S. Bank will double the original manufacturer’s warranty up to one additional year on warranties of three years or less; coverage is limited to $10,000 per claim
  • Purchase protection: The issuer will repair, replace or reimburse you for an item purchased with the card that was damaged or stolen within 90 days of purchase; coverage is limited to $500 per claim and $50,000 per account each year
  • Auto rental collision damage waiver: Coverage is primary — meaning it replaces any coverage your personal insurance might offer — in case your rental is lost or stolen while you’re traveling

Free car rental insurance is only available on two other cards on our list, Chase Ink Business Cash and Chase Ink Business Unlimited. The extended warranty and purchase protections are common benefits, but the U.S. Bank Cash+ Visa Signature Card offers fewer years of warranty coverage and less per-claim coverage on purchase protection than does the American Express Blue Business℠ Plus.

What U.S. Bank Cash+ Visa Signature Card Is Missing

U.S. Bank says the bonus categories could change from quarter to quarter. That means the category that propelled you to sign up for the card may not always be available. You’ll also have to register your 5% and 2% categories each quarter, or you’ll earn 1% on all spending. This is a consumer credit card, meaning you won’t be able to build your business credit by using this card.

U.S. Bank Cash+ Visa Signature Card Reviews

We considered both user reviews and editorial reviews when rating the U.S. Bank Cash+ Visa Signature Card. This is a nice card to have in your wallet if your spending needs change from one quarter to the next. Still, you’ll need to be proactive in registering your bonus categories, which may be more than some business owners want to take on.

User Reviews

Online user reviews are mostly positive. Cardholders say they enjoy being able to pick the 5% rewards categories and have found customer service to be responsive. Some users complain about having to choose bonus categories each quarter, especially if they want the same categories from one quarter to the next.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. The U.S. Bank Cash+ Visa Signature Card is a personal credit card that may be well suited for self-employed workers or someone just getting started out in their business. It’s flexible, and we think that’s important for very small businesses. However, since this is a personal card, you won’t be able to build your business credit.

How to Apply for U.S. Bank Cash+ Visa Signature Card

Apply for U.S. Bank Cash+ Visa Signature Card directly on the issuer’s website. You may be approved instantly. Your new card will be delivered within seven to 10 business days.

Chase Slate: Best Credit Card for Self-employed Workers Seeking No-fee Balance Transfers

best credit cards for self employed

Chase Slate is a personal card that is best for self-employed workers who want to transfer a high-interest credit card balance without paying a balance transfer fee. It’s the only card on our list that offers free balance transfers within 60 days of account opening. It’s ongoing APR of as little as 17.24% is higher than other cards on our list offer.

Chase Slate Costs

Financing costs and fees on Chase Slate include:

  • Introductory APR: 0% for 15 months on purchases and balance transfers
  • Ongoing APR: 17.24% to 25.99%, which will adjust based on the prime rate
  • Annual fee: None
  • Balance transfer fee: None on transfers made within 60 days of account opening; after that, either $5 or 5% of the amount of each transfer, whichever is greater

This may be the cheapest card for balance transfers when you factor in balance transfer fees. Pay no fee when you transfer a balance with 60 days of account opening. Compare that with the American Express Blue Business℠ Plus, which charges 3%.

Pay your balance in full by the end of the introductory period, however, because the ongoing APR is higher than what other cards charge. The Bank of America® Business Advantage Travel Rewards World Mastercard® offers a possible ongoing APR nearly four percentage points lower.

Chase Slate Rewards

Chase Slate is the only card on our list that offers no introductory or ongoing rewards. We ranked other cards higher on our list because they offer introductory rewards as high as $500 and ongoing rewards of up to 5%.

Chase Slate Additional Features

For a card that offers few frills, the features are good. You’ll get:

  • Free monthly FICO score updates & monitoring: The issuer will update this monthly and monitor the reasons why your score may be up or down
  • Purchase protection: Covers your purchases for 120 days against theft and damage up to $500 per claim and $50,000 per account per year
  • No penalty APR: The issuer will not increase your APR if you pay late; this is the same benefit Citi Simplicity offers

The purchase protection coverage is similar to what the Chase Ink Business Cash offers and better than the 90-day protection offered by the U.S. Bank Cash+ Visa Signature. No other card on our list waives penalty APR in case of a late or missed payment.

What Chase Slate Is Missing

This card offers no introductory or ongoing rewards. Every other card on our list offers some form of rewards. This is a card with a singular purpose: To get you out of debt as cheaply as possible. It charges no interest on balance transfers for 15 months and no balance transfer fee on transfers made within 60 days of account opening.

Chase Slate Reviews

We considered both user reviews and editorial reviews when rating this personal credit card. Chase Slate earns average online reviews among users, who say the ongoing APR is too high for a card that is supposed to save you money on interest payments. However, the lengthy introductory 0% APR offer is better than any of the small business credit cards on our list.

User Reviews

We found numerous online comments regarding this card when we searched for user reviews. Some users complain about getting rejected for the card despite having an above average credit score. Others say the APR is too high, particularly for someone with a prime credit rating.

Editorial Reviews

We rate small business credit cards based on their costs, rewards, and benefits. Chase Slate isn’t a small business credit card, but rather a personal card. However, it could prove more valuable in the short run than most 0% business credit cards. Its introductory no-interest offer is better than any other card on our list offers. Still, after the interest-free period expires, this card will have little remaining value.

Where to Apply for Chase Slate

Apply for Chase Slate online at the issuer’s website. You may learn of your approval instantly and receive your card in the mail within seven to 10 business days.

Note: The information related to the Chase Slate Credit Card has been collected by Fit Small Business and has not been reviewed or provided by the issuer of this card.

Alternatives to the Best Credit Cards for Self-employed Workers

Credit cards for self-employed workers charge no annual fee and offer top introductory and ongoing interest rates. However, you have other options if these credit cards don’t appeal to you, including business credit cards with annual fees, business cards for owners with fair credit, and secured business credit cards.

Business Credit Cards for Fair Credit

The best business cards for fair credit offer competitive APRs, low or no annual fees, and even rewards programs. They are designed for small business owners who have a credit score of 670 or lower and might not qualify for other unsecured credit cards.

Secured Business Credit Cards

The best secured business credit cards charge low annual fees and offer APRs of 20% or less. A secured business credit card is backed by a deposit and acts like a normal business credit card. Business owners with poor credit or limited credit will find it easier to qualify for a secured credit card when compared to other credit cards.

Small Business Fuel Cards

The best small business fuel cards offer gas discounts or rewards on the number of gallons you purchase a month. Some fuel cards structure their rewards programs to offer points in return for both dollars spent as well as gallons pumped. Points can then be redeemed for cash discounts on future gas purchases.

Bottom Line

The best credit cards for self-employed workers help keep more money in their pockets. They charge no annual fee, have low ongoing APRs and offer introductory interest-free financing on purchases and balance transfers for nine months or more. The top cards offer introductory rewards of up to $500 and ongoing rewards of 5%.

Our top pick is the Chase Ink Business CashSM card. It offers excellent introductory and ongoing rewards, as well as interest-free financing for 12 months on purchases. Earn up to 5% cash back on bonus category spending.

Content retrieved from: https://fitsmallbusiness.com/best-credit-cards-for-self-employed/.

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