What Are the Best Credit Cards for Gig Workers?

Freelancers and gig workers face unique financial challenges. They often have irregular income, which can make it difficult to qualify for traditional credit cards. 

In addition, they may not have access to employer-provided benefits, such as health insurance or retirement savings plans. 

As a result, it’s important for gig workers to find credit cards that offer flexible terms and valuable perks. 

Whether you’re looking for flexible payment options, cash-back rewards, or other valuable benefits that can help gig workers manage their finances and protect their financial future, these cards have something for everyone.

How to Choose the Best Credit Card as a Gig Worker?

As a gig worker, you have a lot of different credit cards to choose from. Some of the factors you’ll want to consider include the fees, the interest rate, and the rewards program. 

You’ll also want to make sure that the card you choose is compatible with the payment processing software you use.

The best credit card for you will depend on your specific needs and spending habits. If you frequently travel, for example, you’ll want a card with no foreign transaction fees. 

If you have a lot of business expenses, you’ll want a card with a good rewards program. And if you carry a balance from month to month, you’ll want a card with a low-interest rate.

There’s no one-size-fits-all answer when it comes to choosing a credit card as a gig worker. But by taking the time to compare your options and the unique needs of your business, you can make sure that you’re getting the most out of your credit card.

What Are the Benefits of Using a Credit Card for Gig Workers?

Gig workers, or those who work on a freelance basis, often have to juggle multiple clients and payments. 

This can make it difficult to keep track of expenses and incoming payments. A credit card can be a helpful tool for gig workers, providing a way to keep track of expenses and earn rewards for business spending. 

Credit cards also offer protection against fraud and identity theft, which is especially important for gig workers who may be dealing with sensitive client information. 

In addition, many credit cards offer extended warranties on purchases, which can be beneficial for gig workers who rely on their equipment. 

Using a credit card can help gig workers stay organized and protected while they pursue their careers.

What Are Some of the Best Credit Cards for Gig Workers?

Gig workers have unique needs when it comes to credit cards. They often don’t have a traditional 9-to-5 job, which can make it difficult to qualify for credit cards that require good credit or a certain income level. 

In addition, gig workers may need a credit card that offers flexible terms, such as the ability to pay off the balance over time or to make interest-free purchases. The following are some of the best credit cards for gig workers available today:

The Capital One Spark Classic 

For Business, the Capital One Spark Classic is a good option for gig workers with limited or no credit history. It has no annual fee and offers a 0% intro APR on purchases for the first nine months.

In addition, you’ll earn 1% cash back on all purchases, making it easy to earn rewards.

The Citi Double Cash Card 

The Citi Double Cash Card is a good choice for gig workers who want to earn rewards on their purchases. You’ll earn 2% cash back on all purchases, making it easy to earn rewards quickly.

There is no annual fee and you’ll get an introductory 0% APR on balance transfers for 18 months.

The American Express Blue Business Cash Card

This is a good option for gig workers who want to earn cash back on their business expenses. With the American Express Blue Business Cash Card, you’ll earn 2% cash back on your first $50,000 in eligible purchases each year, making it easy to earn rewards quickly.

There is no annual fee and you’ll get an introductory 0% APR on purchases and balance transfers for 12 months.

Chime Credit Builder Credit Card 

Neobanks, as in virtual banks, are all the rage these days. One of the more popular brands is Chime. Chime offers the Credit Builder credit card, designed for individuals with low credit.

Cardholders can use the secured card to build credit and can transfer money from their Chime banking account to the credit card to increase their credit access.

While not the most robust in rewards or benefits, this option is great for those starting out. 

PayPal Cashback Mastercard

If you’re a gig worker, chances are that you’ve used PayPal at one point or another. While you might use the app for sending and receiving money, it’s a solid option for credit too.

PayPal Cashback Mastercard holders enjoy a 3% cash back when checking out with Paypal, 2% on other eligible payments, and no annual fee. 

ExxonMobil™ Smart Card by Citi Bank 

For frequent travelers, a gas card is a great option, especially when it comes to freelancers relying on their cars to conduct business.

The ExxonMobil™ Smart Card offers gas discounts which help to stretch your dollars further. New cardholders experience the best savings with up to 30 cents off a gallon for the first few months, but savings continue.

Many banks offer cards with rewards that include gas discounts, or you might choose a gas-only option. Just make sure to choose one that is local to you. 

Avoid Making Common Credit Card Mistakes

After finding the perfect credit card option for you, it’s important to be aware of the most common credit card mistakes made by self-employed individuals. Here are a few to watch out for:

1. Not paying off your balance in full each month

One of the biggest mistakes you can make is not paying off your balance in full each month. This can lead to expensive interest charges and can damage your credit score.

2. Not using your credit card regularly

Another mistake is not using your credit card regularly. This can hurt your credit score, as it will look like you’re not using credit at all. Make sure to use your card for small purchases each month to keep your credit utilization low.

3. Misusing your credit card

Finally, be careful not to misuse your credit card. Don’t use it for unnecessary expenses or to rack up debt. Only use your card for purchases that you can afford to pay off in full each month.

Additionally, if you’re getting a card for business purposes, use it exclusively for business. Mixed-use cards are a headache come tax time and can make expenses much harder to keep track of. 

The Takeaway 

As a gig worker, it’s important to find the best credit card for your needs. The right credit card can offer you benefits like cash back or travel rewards and help you build your credit history.

We’ve outlined some of the best credit cards for gig workers available today, so be sure to check them out and see which one is right for you. Thanks for reading!