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Freelancers Are Qualified For Business Credit Cards- A Useful Tool Amid COVID-19

Freelancers

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It does not matter how the situation is, everyone wants financial support. Now, considering the present situation where most Americans are losing their jobs. Millennial Money that provides financial freedom has brought good news for freelancers. People who do freelancing to earn some extra will now have access to a useful tool. To cope up with this critical situation and this tool has come out in the form of a business credit card.

If you are someone who regularly resell on eBay or book paid photography jobs on the side, you are qualified for a business credit card. The best part is that you don’t need to have employees, storefront or an LLC. Freelancers can make online transactions with the help of these business credit cards.

According to J.D. Power that is an American-based data analytics and consumer Intelligence Company founded in 1968 by James David Power III. “While a business credit card alone won’t determine whether your business prospers, small-business customers seem to like them. They are significantly more satisfied with their business credit cards than customers are with personal credit cards”.

Owners of small businesses are of the opinion that business credit cards help them to make their business go and along with it, such credit cards help them to segregate business and personal spending. As a matter of fact, it is very important for tax and other reasons.

Business credit cards can help the freelancers to maintain the cash flow. Moreover, it is relatively easy to access and some business persons cannot even get it. Banks might turn you down for a traditional business loans but, the same bank will give you a small business credit card.

How To Qualify

One does not need to have a business credit history in order to be qualified for a business credit card. If you are earning without being someone else’s employee, you are actually a business and therefore, you are qualified for the business credit card.

You don’t need to show whether you are making a profit or not on the application. If you don’t have a separate tax ID, you can use your Social Security Number.

If you are having a credit score of 690 or above, you are qualified for a business credit card. However, some credit card issuers have their own criteria for the card approval.

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