Most rideshare drivers started this fun, part-time gig for one main reason; to make a few extra bucks to further pad their bank account. And perhaps to also meet new people, be more social, etc.
As soon as you sign-up to drive with Lyft, Uber, Postmates, or any other rideshare-type gigs, you become an independent contractor, which means you are self-employed and now running your own business.
I know self-employment sounds a bit daunting, but guess what? There are tons of great benefits to being your own boss if you know where to look!
To help you keep track of your expenses and plan for those pesky taxes, it's important that you keep the personal and business aspects of your life separate from one another.
One of the best ways to do this? Get yourself a business credit card!
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The Best Credit Card Options for Rideshare Drivers
Redeem points and earn cashback on gas, car maintenance and other rideshare business expenses with the following credit card options.
With the Chase Freedom, you'll receive the following benefits:
- Earn 5% cash back on up to $1,500 in combined purchases.
- Enjoy new 5% categories each quarter.
- Earn 1% unlimited cash back on all other purchases.
- 0% Intro APR for 15 months.
- No annual fee.
Current Sign-Up Bonus: Earn a $200 bonus after you spend $500 on purchases in your first 3 months!
With the Chase Ink Cash credit card, you'll receive the following benefits:
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores + internet, cable, and phone services.
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants.
- Earn unlimited 1% cash back on all other purchases.
- Choose cash back and more including gift cards for you, your employees, or clients. Or Shop with Points at Amazon.com to purchase business essentials.
- No annual fee.
With the Amex Blue Cash Card credit card, you'll receive the following benefits:
- Earn $150 statement credit after you spend $1,000 within your first three months.
- Earn 3% cash back at U.S. supermarkets, on up to $6,000 per year in purchases, after that 1%.
- Earn 2% cash back at U.S. gas stations & select U.S. department stores.
- Earn 1% cash back on all other purchases.
- No annual fee.
With the US Bank Business Edge Cash Credit Card, you'll receive the following benefits:
- 3% cash back on eligible gas station, office supply store and cell phone/service provider net purchases
- 1% cash back on all other eligible net purchases
- 25% annual bonus based on your prior year's Cash Rewards, up to $250
- No expiration on cash back or limits on the total rewards you can earn.
- Enjoy a 0% intro APR on purchases and balance transfers for the first fifteen billing cycles
- $500 cash back after you spend $4,500 in eligible net purchases on the Account Owner's card in the first 150 days
- No annual fee
Since you are engulfed in the world of rideshare, it’s rare to not qualify for small business credit cards. There are certain cards that even offer as much as $800 in cash for just signing up! That is a win-win in my book. Keep in mind that your credit score is vital to begin with the credit card game, so you need to doubly ensure you pay your balance each month.
If you are already having to spend money on fuel, items for your rideshare vehicle, carwashes, car repairs, maintenance, and more, then shouldn’t you get a little something in return? I think so!
Make the most of your rideshare gig with the above credit cards and check into these other small business credit cards, too!