Fleet fuel cards help small businesses in a variety of ways. They can reduce expenses, prevent theft, and reduce the workload of reconciling fuel purchases.
When choosing a fleet fuel card, look for those offering advanced spending control and consolidated invoice capabilities. Also, ensure the card’s network covers stations your truck drivers frequently visit.
Save Money on Fuel Expenses
Fleet fuel cards work similarly to credit cards, except they’re used solely for gas expenses and vehicle-related purchases. They offer rebates on fuel, as well as the ability to set driver spending limits and track usage data in real time. Additionally, they may include other features not available on a regular business card, like odometer and driver ID capture, GPS tracking, and vehicle maintenance alerts.
When choosing the best fleet fuel card, a key consideration is how many stations your drivers can use. Some universal fleet fuel cards claim coverage at 95% of gas stations nationwide, while others have specific networks that will benefit certain industries or regions.
Another option is the advantage card, which can be used at any truck stop and gives you significant discounts on tires, hotel stays, and wireless services. This card can also help you track your business mileage through a built-in GPS tracking feature and manage fuel, engine lubricants, and maintenance expenses in one place with its online platform. It also handles all of the accounting, so you don’t have to sift through reams of receipts.
Reduce Wasteful Spending
Fleet fuel cards offer at-the-pump savings, allowing your drivers to buy fuel at discounted or wholesale prices. They can also help you reduce wasteful spending by offering tools like purchase controls, real-time alerts, and expense reporting. In addition, many cards can be used at truck stops and service locations to streamline all your vehicle and maintenance expenses with one card.
As you look for the proper fuel card, consider the region where your fleet operates and what stations are available in that area. A more extensive network will save you more money at the pump. Additionally, look for a card that offers retail-minus and cost-plus pricing models, as these will determine the best price at the pump depending on current market conditions.
Designed for small businesses, the fleet card provides excellent value, no card fees or setup costs, and average volume-based rebates of 3C/per gallon. This card can be used at more than 8,000 stations across the country, including those with CAT Scales, to eliminate time-consuming paperwork. Plus, users enjoy roadside assistance and customer service 24/7.
Track Expenses
When choosing a fleet fuel card, be sure to look at the discounts and rebates offered, the network size, and other features that come with it. Many cards allow you to track expenses, set purchase controls, and pay bills online, all of which reduce fraudulent activity and help you stay on top of your spending.
The best fleet fuel card offers an extensive network covering 95% of all U.S. filling stations, multiple card options, and a mobile app that makes it easy to manage the card. It also provides access to discount programs for other services, including vehicle maintenance and hotel stays. With a 3C//gallon rebate and no setup, annual, or card fees, it’s an affordable option for any size fleet.
Reduce Paperwork
Here are a few key points to remember when choosing a fleet fuel card. Regional coverage and network size, discounts, fee structure, controls, and back-end reporting should all be considered. For example, if a fleet fuel card has significant savings but only covers stations on interstate highways that your drivers don’t use for long-haul trips, it may not be worth the investment.
In addition, some cards require drivers to enter their odometer and driver ID information as part of the payment process. It is a good way for businesses to ensure they only get discounted wholesale pricing at qualified gas stations. Other cards offer consolidated invoices and reports that eliminate the need for manual receipt collection, which can save time and money for companies with numerous vehicles.
Additionally, the fleet cards provide average savings of 43C/ per gallon through security and station selection tools, real-time point-of-sale data, and automated fuel accounting and bookkeeping.
