4 Things to Look for in a Small Business Credit Card

These are some key features worth going after.

Owning a small business means having to make some key decisions, like who to hire, how to market your product or services, and where to do your banking. But you'll also need to decide what credit card to open. And if you're not sure how to go about that process, here are some key small business credit card features to look out for.

1. A generous rewards program

You may be used to racking up rewards or cash back on your regular credit card for everyday purchases. Well, there's no reason you can't enjoy a similar setup with your small business credit card.

Some small business cards offer generous rewards or cash back for purchases made at office supply stores, while others offer extra cash back at the pump. It pays to look at different options and choose a credit card for your small business based on the purchases you anticipate making.

2. No or low annual fees

It's more than possible to find a small business credit card that doesn't impose an annual fee. But that doesn't mean a fee isn't worth paying. You may find that by paying a fee, you get access to a much better rewards program that ultimately means you come out ahead financially.

Either way, though, you should aim to keep your annual credit card fee to a minimum. If you can find a card with a $95 annual fee that meets your needs, then there's no need to spring for a card with a $250 fee if you don't expect to reap enough rewards to make up the difference.

3. A nice sign-up bonus

Credit card sign-up bonuses aren't just for everyday consumers. It's more than possible to find a small business credit card that will pay you a lump sum of cash for meeting a certain spending requirement within a few months of opening your account.

In fact, it's a good idea to time your credit card application strategically to take advantage of a sign-up bonus offer. Let's say you need to furnish your new business or buy equipment. If you apply for a small business credit card with a sign-up bonus during that time, you may have zero problems meeting the spending requirement at hand.

4. A generous spending limit

You may have certain months when you need to make extra purchases or buy more supplies for your small business. And you'll want a credit card that gives you that flexibility. As such, aim for a card with a generous spending limit so you don't have to stress over racking up a larger balance (but of course make sure you can pay off any balance you accumulate by the time your credit card bill is due to avoid incurring interest).

The right small business credit card could put a lot of cash in your pocket, all the while making it easier to run your operation. If you're new to the world of small business credit cards, it definitely pays to keep these features on your radar.