Fuel cards are plastic cards that allow truck drivers to pay for diesel, gas and other forms of energy at regular stations. These cards give fleet owners more oversight and visibility into their drivers’ purchasing habits.
These cards often come with online accounts that provide business owners with detailed purchase data. This saves time on accounting tasks and allows companies to keep tabs on driver spending more efficiently.
If you own or operate a trucking business, much of your budget likely goes towards fuel purchases. To help manage this expense, consider using a gas card or getting them in bulk for your company.
These companies offer discounted cash prices at the point-of-sale, while others provide monthly rebates to fleets. Either way, gas discounts can drastically reduce a fleet’s total cost of purchasing fuel.
The ideal ones also have additional features that can benefit your business, such as driver support lines, spend controls and real-time reporting. Many even come with mobile apps that make it simple to locate stations, truck stops and parking. They can directly report gas data as well as IFTA tax information to your accounting system.
They can provide drivers with a secure and efficient way to purchase gasoline or diesel at the pump. They eliminate the need to carry large amounts of cash, minimizing theft or assault risks.
They provide fleet managers with the power to customize spending controls for increased security and reduced unauthorized usage of their credit lines.
They can reduce the likelihood of fraudulent gas transactions by requiring drivers to enter a PIN before making a purchase. This deters many types of fraudulence, from fuel theft to vehicle maintenance scams. There are a plethora of reasons, so read on to learn more about these money saving accounts.
What are Fuel Cards?
They are plastic cards with magnetic strips or RFID (Radio-frequency identification) chips that allow truck drivers to pay for diesel and gasoline at stations. They may also be used to purchase other items at convenience stores near stations, as well as covering boarding and lodging expenses for truckers.
They can be an economical choice for trucking companies to save money on diesel purchases, particularly if the business uses a lot of gas each month. However, it’s important to remember that not all of them are created equal and you should find one that meets your company’s specific requirements.
You’ll need to determine how much gas your company uses each month. If it exceeds 1,000 gallons, then you may want to consider using a fleet fuel card for convenience.
Based on your business’ fleet size and gas needs, you may opt for a card that provides discounts per gallon of fuel purchased or one with rebates specific to certain brands or locations. Some companies even provide mobile apps that save time at the pump.
They offer another beneficial feature to businesses: greater control over their fuel purchasing. You can set limits on how much money employees may spend per purchase and monitor their purchasing patterns.
It will make it simpler for you to detect potential issues with gas usage, such as low-grade or skimmed fuel. By setting limits on how much employees can spend, you can avoid these costly errors and maximize the value of your fleet’s spending.
The correct gas card can also help you monitor fuel use and location. This is especially useful if you have multiple drivers on the road at once, since it allows for cost-effective monitoring of gas expenses.
They can be an invaluable resource for trucking companies to reduce expenses and maximize profits. Whether you are a sole proprietor or manage thousands of trucks, there is likely a card out there that meets your needs.
How do I Get a Gas Card?
Fuel accounts offer trucking companies a number of advantages, such as gas discounts and cash back. They can also help businesses monitor and control fuel-related expenditures. Some cards provide fleet management features while others give you a dashboard of all your financial information related to purchases. These features save your business money on fuel while eliminating the need for hardcopy receipts at each stop.
To obtain a gas card, you must fill out an application and provide some information. After reviewing this data, the provider will decide whether or not to issue you with a card. If accepted, you’ll receive your plastic within several weeks and can share them with your drivers.
Some companies require a credit score, while others accept low-risk to moderate-risk business credit scores. This can be an ideal solution for small and medium-sized enterprises (SMEs) without strong credit histories.
They come in many varieties, so finding the one suitable for your business is paramount. Based on what type of gas you use, where you live and the size of your operation, you’ll know which card works best.
Branded ones are issued directly by the fuel company, while fleet and universal cards can be accepted at numerous locations nationwide. National haulers usually opt for these latter types of cards, while taxi firms or smaller businesses with fewer vehicles typically utilize branded ones.
Another important consideration is how much gas your business consumes each month. If your business spends more than a certain amount on fuel each month, prepaid accounts might be beneficial; these allow for prepayment for an amount of gas each week at various prices that depend on market demand.
They can increase your company’s productivity by saving both time and money. They monitor odometer readings at the pump and automatically generate reports to help you make cost-effective gas economy decisions. These cards provide drivers with tools to enhance driver efficiency as well as meet IFTA compliance requirements.
How Do I Use My Fuel Card?
They provide fleets with a convenient and cost-effective way to manage their daily fuel expenditure. The key is selecting the right card that meets your business requirements – one compatible with both your vehicle and network of stations you use should be your top priority.
One of the primary advantages of using a gas card is its capacity to save you money on petrol and diesel expenses. Most cards you find if you go to bensinkort offer discounts when fueling at networked locations. This is great because it could result in significant reductions in overall business gas expenses.
They come in a range of types, so it’s essential to do your research and find one that meets your requirements. Make sure the company you select provides excellent customer support and an extensive range of features.
Utilizing a gas card can be complicated, so it’s wise to seek professional guidance from an expert. A qualified fleet management company can assist you in selecting a fuel card that meets your budget, business needs and vehicle specifications.
The great thing about them is that they may be accepted at multiple locations near you. Additionally, you have the option of using a mobile app which lets you access your account anytime, eliminating administrative work and increasing efficiency.
It’s essential to remember that a fuel card isn’t just for petrol; it can also be used for other expenses like fixing your truck or getting insurance. An effective gas card should provide fraud protection as well.
What Are the Benefits?
They can save your business money and enhance efficiency. They also enable you to manage fleet fuel consumption more effectively, helping to reduce carbon footprint. Many of these types of accounts are connected with Telematics or other fleet management tools which help monitor driver performance and make drivers more efficient.
One of the greatest advantages to using a fuel card is the savings you can realize per gallon (www.consumerreports.org/is-a-gas-credit-card-worth-it). These programs offer discounts on diesel gas, which could add up to significant savings over time – especially if your business purchases more than 1,000 gallons each month.
Gaining maximum fuel savings with a program that offers an expansive network of participating stations. Before making your choice, be sure to research which stations you can access through this network and compare its extent.
A reliable gas card should provide online account management software, enabling you to view detailed purchasing data without the need for hard-copy receipts. Doing so can save both time and money on accounting tasks.
Another advantage is that they help prevent fraud and theft. Drivers must enter their unique ID for every transaction, thus decreasing the chance that someone else could use their card.
Additionally, some of them allow you to set purchase limits and receive notifications when unauthorized attempts or unusual odometer readings occur. These features make it simple for you to keep an eye on your driver’s expenses and identify problems before they become major issues.
They come in a range of types, so it is essential to find one tailored to your fleet’s requirements. By doing so, you will save money and boost your vehicle’s fuel economy.
Finally, some of them provide “better off” pricing models that allow you to save even more money by selecting the plan with the highest savings potential. This can be a tremendous advantage for fleets and drivers alike.