Remember that lemonade stand you had as a kid? These days, it seems everyone has a side hustle, and they can take the shape of pretty much anything — including that fabled sidewalk rest stop. If you have a business that you’re running alongside your daily 9-to-5 workday, then you definitely qualify as a side hustler. Which means that you should be getting rewarded for the time and money you pour into your venture.
So what makes a credit card right for a side hustler? There are a few things we considered when researching all the offerings available right now. The cards chosen for this list feature a combination of rewards, balanced with sign-up bonuses, annual fees and other benefits. And since no two side hustles are the same, you’ll have to consider what will work best for your business, and what benefits you prefer.
1. Capital One Spark Cash for Business
Let’s start with a heavy hitter. This is a jack-of-all-trades card that will benefit pretty much every small business owner. Starting with a one-time cash bonus of $500 when you spend $4,500 on purchases within 3 months from account opening, you know you’re onto something special.
The Spark Cash card lets you earn cash back on every purchase at a generous 2% rate, which has serious potential for your business. There are no categories to limit your purchasing, so you won’t need to look at a checklist before heading to the office supply store or gas station to make sure you’re getting maximum benefits. Some may see its $59 annual fee as a drawback, but seeing as how the first year is waived, the rewards will likely outweigh the cost.
2. The Business Gold Rewards Card From American Express
In addition to a staggering 50,000 Membership Rewards points after spending $5,000 within the first 3 months of getting your card, the Business Gold Rewards card features some great perks that could benefit you and your side hustle. You’ll have the opportunity to pick a category of your choice that earns 3x points, with at least 1x points on every purchase. (Editor’s Note: American Express is a Nav partner, but this does not result in preferential editorial treatment.)
Interesting perks for this card include purchase protection and extended warranty, which apply to eligible items you purchase with the Business Gold Rewards card. Depending on the item, your card will protect you if your purchase breaks or is stolen within 90 days of purchase, and extends the manufacturer’s warranty for an additional year. This peace of mind will go a long way when you’re considering what to purchase for your business. This card has an annual fee of $175, which is waived the first year.
3. Chase Ink Business Cash Card
This card has no annual fee, making it perfect for even the smallest of side businesses. Beyond that, you can get a $300 bonus after spending $3,000 on purchases in the first 3 months after you open the account. To sweeten the deal, you’ll also enjoy 0% intro APR on purchases and balance transfers for the first 12 months.
A few things that may bump this to your go-to credit card are the cash-back benefits. This card lets you earn at least 1% cash back on every purchase, with some categories netting you 2-5%. You can redeem points for cash back, travel, gift cards and more that don’t expire as long as your account is active.
If you haven’t fully committed to making a separate entity for your business (which you should absolutely do if it’s more than just a passing fancy), you should still be getting rewards from your credit card. Here are two personal cards to consider:
4. Chase Sapphire Preferred
One of the top personal cards on the market, Sapphire Preferred from Chase comes with 50,000 bonus points when you spend $4,000 on purchases in the first three months of opening your account, and its $95 annual fee is waived the first year. What sets this card apart from many others is that Chase’s redemption value of points is increased when you use your points on airfare and hotels. Plus you’ll earn 2x points when using your card on travel and dining and 1x points on all other purchases, making this card a well-rounded option to keep in your wallet.
5. Wells Fargo Cash Wise Visa Card
Finishing our list today is the Cash Wise Visa card from Wells Fargo, which features a bevy of perks for cardholders. First off, you’ll get a handsome $200 cash bonus after using your card to make $1,000 on purchases in the first 3 months. Since this card has no annual fee and a relatively low threshold to get that bonus, it’s perfect for side hustlers who are only seldomly using a credit card to bolster their efforts.
In addition, you can earn unlimited 1.5% cash rewards with no category limitations or quarterly activations. A seldom-seen benefit is a cell phone protection clause when you pay your monthly bill with this card, which will replace your phone from damage or theft up to $600 (subject to a $25 deductible). With 0% APR on purchases and balance transfers in the first year of card membership, there’s a lot to love with the Cash Wise Visa.
|Pro tip: Business credit cards can make sure you always have emergency cash on hand. Browse your top business credit card matches for free and apply in minutes!|