Market Overview

3 Best Credit Cards For Contractors

3 Best Credit Cards For Contractors

People who work as a freelancer, contractor, or otherwise work for themselves often need to figure out a credit card that works for them. The flexible schedule and control over projects can be great, but you also might have small business expenses that pop up like taxes, travel and office space.

While a traditional employer would cover some of these expenses, as a contractor, you need to find the best credit cards for side hustles and other business expenses. Here are the top cards that can work no matter what your hustle is to help you maximize your budget.

American Express Business Platinum

Freelancers and contractors both know the struggle of finding a good place to work sometimes. Cafes and coffee shops might not be the best fit always, and co-working spaces can quickly get expensive. That's why the Business Platinum Card from American Express (NYSE: AXP) is a good fit for many.

The card does have a $595 annual fee, but the perks make it worth it for some. One of the biggest draws of the card is if you sign up by the end of the year, you get a free one-year membership to WeWork co-working spaces around the world. If you're already spending money on co-working space memberships, this can be a good way to get more of a bang for your buck.

Other perks include an annual travel fee credit up to $200 that you can use on incidentals, like in-flight purchases or checked bags. Cardholders also get 50,000 rewards points if they spend $10,000 in the first three months.

Capital One Spark Cash Select For Business

This credit card from Capital One (NYSE: COF) gives you an excellent cash-back rate on some purchases. You get a flat 1.5% cash-back on every purchase, and if you spend more in certain categories, you can get a higher percentage.

Cardholders also get access to tons of special business benefits. For example, you can have access to Quicken, Quickbooks and Excel, and can download specialized reports to help make it easier to handle planning, taxes, and budgeting.

Ink Business Preferred

The credit card from Chase Bank (NYSE: JPM) distinguishes itself due to its huge sign-up bonus of 80,000 points. To access it, you simply have to spend $5,000 in the first three months of opening the account. There are many different rewards that make this the perfect card for any contractor. You will earn three points per dollars spent on travel, advertising purchases with social media sites and search engines, and on your internet, cable and phone services.

Cardholders get one point on dollars spent elsewhere.

This card is a great option for contractors on the go, and it even offers cellphone insurance, trip cancellation and interruption insurance, purchase protection, an extended warranty and primary rental car insurance.

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