Self Employed Freelancer? Do You Need To Have A Business Credit Card?

Being self employed, or a freelancer in your field can bring many joys that traditional employment doesn’t possess. You can often work from a home office, or virtually anywhere in the world as long as you have a solid wifi connection! With those luxuries a lot of gray lines of being your own boss can be rather confusing, like do you have to start developing your own business lines of credit?

According to Washington’s Top News, there are advantages to having separate lines of credit for business and personal use, but overall nothing is actually mandatory for the self employed. Think about tax season, or balancing out your expenses each month, and how keeping those items in their own accounts might make for less paperwork and hassle. If it tends to be a time consuming process for you each month paying off cards that you use for both personal and business use, then perhaps it is time to start dividing and conquering.

Another great point worth adding to the topic is earning rewards or perks from using your business card. If you have a fair amount of credit card use for your employment, then think of the endless possibilities you can obtain from creating those spending accounts to better serve your lifestyle. If travel or dining perks are more of what you could benefit from, then take a peek at those credit card offers to get the best bang for your buck!

These types of accounts can also greatly advance your credit score, and from there you can negotiate other loan terms, get a better deal on a home or car purchase, and even open up store cards to establishments that you frequent to earn even more discounts and perks on things you already buy now. If it’s something that you feel you can gain from by separating those business and personal accounts then by all means start doing some research today and get rewarded for your spending!