Why I’m Not Getting A Business Card As A Freelancer

I looked into several business credit cards when I first started freelancing. The Ink Business Preferred® Credit Card was a strong contender, earning three points per dollar on travel and phone expenses for a $95 annual fee. The Ink Business Preferred has a generous welcome bonus—new cardholders can get a whopping 120,000 bonus points after spending $8,000 on purchases in the first three months from account opening. That’s a fantastic deal, but at my current rate of spending, it would take me years to reach that spending requirement.

After realizing it didn’t make sense to apply for the Ink Business Preferred, I thought a no annual fee cash-back card might be more realistic for my situation. I looked into The American Express Blue Business Cash™ Card (Terms apply, see rates & fees), but came to the same conclusion. Although it earns a flat rate of 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%, I’d have to spend several thousands on my card in the first few months to earn the welcome bonus. Again, this was simply not feasible. If you can meet the spending requirements, both the Amex Blue Business Cash and the Chase Ink Business Preferred are fantastic options.

Although a card has more benefits than a welcome offer, I don’t want to leave money or points on the table because I am a low-spender. After thoroughly researching, I could not find any card with a spending requirement for a welcome offer below approximately $3,000, which was still beyond my current business expenses. Beyond the welcome bonus, my spending is so low that I’d earn minimal rewards, and I don’t need other benefits that often come with business credit cards like accounting services, end-of-year reports or employee cards.