Sebi Mitchell, Credit Cards Moderator
@sebim
The best credit card for consultants is the Chase Sapphire Preferred® Card because it offers 60,000 points for spending $4,000 in the first 3 months. It also gives 5 points per $1 spent on travel purchased through Chase, 2 points per $1 on all other travel purchases, 3 points per $1 on dining and online grocery purchases, 3 points per $1 on select streaming services, and 1 point per $1 on all other purchases. Consultants tend to spend a lot of time in airplanes and hotels, after all, and the Chase Sapphire Preferred® Card’s rewards are transferrable to more than a dozen hotel and airline rewards programs at a 1:1 ratio. Those programs include Hyatt, Marriott, Southwest, United and more. The Chase Sapphire Preferred® Card has a $95 annual fee.
If you’re a self-employed consultant or running your own consulting firm, consider Ink Business Preferred® Credit Card. This card’s bonus is huge: 100,000 points for spending $15,000 in the first 3 months. You’ll also earn 3 points / $1 spent on up to $150,000 in select business categories each year. Categories include shipping costs, internet service, advertising and more. The card’s annual fee is $95.
2022's Best Credit Cards
Rhonda Stewart, WalletHub Loans Analyst
@rhonda
Consultants traditionally spend a lot of money on reimbursable work expenses, so you may want a card that complements all the additional spending. For example, the Capital One Savor Cash Rewards Credit Card has an earning rate of 4% cash back for dining out and entertaining clients (plus 4% cash back on streaming services, 3% back at grocery stores and 1% on all other purchases). You can also earn a bonus of $300. To get it, spend $3,000 within 3 months after your account opens.
For your daily commutes and other day-to-day expenses, the Blue Cash Preferred® Card from American Express is a good choice as well. Its earning rate is 3% cash back on U.S. gas stations, as well as 6% on the first $6,000 spent at U.S. supermarkets each year and on select U.S streaming subscriptions. All other purchases give 1% cash back. Consultants who prefer straight cash back on all spending may opt for the Citi Double Cash Card. It offers 2% cash back on every purchase: 1% when you buy and an additional 1% when you pay the bill.
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