How to Build and Improve Credit as a Gig Worker?

Credit can mean varied things to varied people, including gig workers. Though these individuals have regular earning potential and get paid on predictable basis, they do not have pay-slips or fixed salaries. Their earnings keep fluctuating as per variations in number of orders delivered and the amount of time they dedicate into their work. And for work where they need to include personal assets, like trucks or cars, there’s an added expenditure of occasional upkeep.

Also, there are chances of their work drying up due to factors like regulation chances, increased competition and adverse global calamities. As such, most gig workers have limited access to full-featured credit leading to the urgent need of services that can stabilize their earnings and increase resilience. And to have things in place, you can always seek the services of KarmaLife, the financial services company that partners with digital platforms employing gig workers to facilitate access to credit for gig workers through products, like insurance and credit lines.

Ways to Build and Improve Credit as Gig Worker

Gaining credit for workers in part-time employment or freelancing means that you will get more referrals and more clients, and grow your reputation which will ultimately lead to business growth. Some good ways for gig workers to build and improve their credit include:

Consider Starting a Corporation or Limited Liability Company

If you take freelancing seriously, come up with a long-term vision for your career by registering yourself as a sole proprietor. Establishing a corporation or limited liability company for your freelancing career will make you a legitimate candidate for credit as you will have your own email address, pay stub, contact details and company details in place.  Having your name on your own email address and domain significantly adds to an individual’s reputational credit.

Collect Income Proof

Verifying your income or cash flow shows basic bookkeeping and organisation skills that can further be used as evidence by gig workers looking to get a credit card or loan. This is important for gig workers with seasonal income and not a regular pay-slip to prove their financial potential.

Make Payments on Time

Paying for all obligations within deadlines, including credit cards and loans is one of the best ways for gig workers to build and improve credit.

Set a Credit Card

Setting up a credit card solely for freelancing work is yet another good way to build and improve credit. Gig workers can secure such accounts with deposits equal to the credit limit, all while taking up a credit card in their company’s name. Setting up a company credit card can also help gig workers with tax audits and payments while giving them the ability to purchase all required resources and attend training events at the same time.


With the number of gig workers increasing every day, the times are not far away when even these individuals will come into the category of formal employment. Nevertheless, since as of now they are not recognised as formal, full-time employees, these individuals may have problem in accessing mainstream financial support that can help them plan their future. KarmaLife partners with leading digital platforms to offer easy access to credit lines to such workers along with insurance. By creating solutions tailored to the specific earnings of gig workers, we are revolutionizing financial services in India. We even feature an app that allows seamless payments and transfers through UPI. For more details, visit

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