It’s funny to think that a few years ago, there were no such people as social media influencers. However, the unprecedented rise of platforms like Facebook, Twitter, Instagram, and many others, paved the way for new internet stars such as Jake and Logan Paul, Bella Poarch, and King Bach. Becoming a social media influencer has many perks that you may not know about.
Although it’s not an official job, people can make a career out of becoming a social media influencer. According to Fox Business, an average influencer can take home somewhere between $30,000 to $100,000 a year. However, other social media influencers make more than just that.
As per reports, Kylie Jenner makes $1 million per sponsored post shared on her Instagram account. That’s a lot of money in a year. Of course, being a social media influencer isn’t an easy job. You’ll have to make a ton of expenses for essential items like cameras, high-end computers for editing, and much more.
You’ll have to spend further on your content. People aren’t going to want to see you again and again in the same location. Social media influencers travel a lot. All these expenses are a bit too heavy for social media influencers who are just starting up. Luckily, there are a few credit card options that can help them secure the investments they need.
Credit Cards for Influencers
There are various types of credit cards that you can use if you are a social media influencer. However, not everything is applicable or suitable for your current needs. As such, we’re going to list down some of the credit cards that you may want to apply for if you want to support your rise to joining the ranks of the Paul brothers and other top-tier influencers.
Standard Credit Cards
Often referred to as plain-vanilla credit cards, this type of card can be availed by just about anyone. All you need is a good credit score with your bank and you’ll be set to go and apply for one. While it’s easy to get approved for a card like this, there is a downside to this. Standard credit cards have no rewards system which is often a huge downside for many.
Before you try and apply for a standard credit card, you might want to plan ahead first. Are you planning on traveling a lot? Are you going to make many expenses? If you are, then this might not be the right credit card for you as you’ll miss out on some major rewards.
Nearly everyone has a standard credit card. It’s good for beginners as it helps you gauge the responsibility behind being a credit card holder. Make sure to try and apply for one if you are going to buy a high-end camera or other equipment for your blogs as these can help you out in a pinch.
Business Credit Cards
Believe it or not, business credit cards are applicable for social media influencers as well. As the name suggests, business credit cards are made specifically for business use. It allows you to have an easy means of making transactions with others directly through your card. Many social media influencers have business credit cards as they often transact with other firms.
The upside to getting a business credit card is that you can easily handle transactions with others. The good news is that applying for a business credit card is just as simple as applying for a personal card. As per the experts from https://www.nav.com/business-credit-cards/, all you need is a good credit score. The better your credit score, the higher your chances of getting approved.
If you are just starting up as an influencer, then this isn’t something that we’d recommend directly. That isn’t to say that this type of credit card isn’t fit for you. If you run a business by creating social media content, then this type of credit card is exactly what you need.
Secured Credit Cards
Secured credit cards are made for people who don’t have a credit score yet. You can think of it as a startup means to develop your credit score. Due to their accessible nature, secured credit cards are perfect for social media influencers who are just starting up and are hoping to fund their journey through other means.
One of the downsides to secured credit cards is that the limit is much lower than what you can find on a standard credit card. It’s a small price to pay for being able to secure a credit card, however. The credit limit on these cards is often based on the amount that you deposited in opening them.
Specialized Credit Cards
TechCrunch recently introduced a specialized credit card for social media influencers called Karat. As per the makers of the credit card, the average user of it has over $100,000 in the bank and one million followers across their social media platforms including Facebook, Instagram, and Twitch.
This card comes with many benefits that social media influencers might find interesting. For starters, there are no annual fees to pay. There’s also a one-time welcome offer of $250 which comes in the form of a statement credit which can be used for future purchases. Karat also has a customized rewards system that takes into consideration the spending habits and social media reach of the user.
The creation of Karat only means that even financial institutions are seeing social media influencers in a better light. The only downside to Karat is that it can’t be used by up-and-coming social media influencers but it is definitely something that you should eye for if you are rising through various social media platforms.
Credit cards are very useful if you aren’t used to paying upfront. Social media influencers put it to good use as they have to constantly spend to make content. If they want to make the most out of their career, then they should steer towards the direction of credit cards that have better benefits for them.