You may have heard of the fleet fuel cards but have you heard of the fleet fuel cards usage and benefits?
Knowing them is good for your company.
There are many types of cards to use, whether for economic usage or in the trucking industry. The fact is, they are all highly beneficial.
If you own a trucking business then you must know which are the best fleet fuel cards to use. Additionally, no matter if you have a fleet of reefer trucks, bobtail trucks or flatbed trucks, you need these cards.
What is Fuel Card?
As shown above, the fuel cards are made to serve the truck drivers and the carriers in the trucking industry.
Continually, the driver needs to maintain the vehicle, repair it if needed, and maintain secure and safe transportation.
In the same way, the best trucking companies need to have fleet fuel cards for a reason.
To emphasize, fleet fuel cards are payment products enabling the truck drivers to purchase fuel for the vehicles they operate.
Furthermore, every truck driver needs the fuel card for business purposes. In addition to this, there are cards that can be used in different places.
For instance, you can get a card that is usable in supermarkets only or the one with access to all network sites.
But the question is: how do they work?
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The fleet fuel cards are actually very simple to use. In fact, they work similarly to the credit cards. To put it another way, the company drivers do not need to bring cash with them anymore.
Continually, they can only show their fleet fuel cards instead of cash. Then the transactions are collated and all the purchases are sent to you.
Fuel Card vs. Credit Company Card for Fleet Fuel Expenses
There are significant differences in using the fleet fuel cards and the credit company cards. Additionally, what they actually have in common is their easy and simple usage.
The point of having and then using the fleet fuel cards is to reduce the expenses of the company.
However, which one is more beneficial, the fuel card or the credit card?
To continue with, it is said that the fleet fuel cards offer much more benefits than the credit cards. Notably, the benefits of fleet fuel cards are the following:
- Available discount fuel prices
- Better security and prevention of fuel theft
- No need for receipts
- Used VAT separation for simple invoicing
- HMRC approved bills
- Card management tools
- Ability for monitoring the filling patterns
- Fleet efficiency and MPG reporting
- Reduced administration costs
- Possibility of points or rewards scheme
On the contrary, here are the opportunities you have while using the credit cards:
- Discounts on fuel prices are not available
- The fuel theft is hard to identify
- APR rates vary and offers may change after certain periods
- Need to keep the receipts
- The VAT invoicing is a longer process
- Employees can purchase anything
- Some cards offer rewards scheme
Knowing this, which card do you think is more beneficial for your trucking company?
You have the opportunity to compare them and choose according to your needs.
But let’s face it.
Although both cards are easy to use, the fleet fuel cards are better to use. They offer numerous fuel benefits for the trucking companies.
Having said this, the fuel cards are what are made for, after all.
How Do Fleet Fuel Cards Discounts Work?
The main purpose of the fleet fuel cards is to enable the trucking companies to maintain a greater control over their expenses.
For instance, the companies could save themselves from letting the truck drivers lose their money. On the subject of this, this fact makes the fleet fuel cards excellent to use.
In addition, the fleet cards can be used for multiple businesses that involve large road expenses. And believe me, there are expenses that kill your company’s profit.
With this intention, the fleet fuel cards same as the credit cards can be used at specific locations for certain transportation charges.
Continually, the fleet fuel cards, allow the following:
- Spend limit
- Web management
- Fraud control
- Security measurements
Furthermore, when choosing fuel cards for small businesses, it is important to remember one thing.
To emphasize, the locations that you fill up frequently must accept the fuel card. Otherwise, the card is completely worthless for you and your business.
Generally speaking, some fleet cards allow the trucking companies to pay cash at the truck stops and pumps.
To demonstrate, the price goes for about 6 cents per gallon which actually makes it a discount from the card. However, the price may vary.
However, the price may vary.
How Does a Carrier Benefit?
To begin with, the fleet fuel cards are made to serve as payment cards. This means that they are restricted to purchasing fuel expenses only.
Continually, the fleet fuel card program offers gallon discounts on diesel to the carriers. More importantly, there are savings included on other services as well.
The cards are like partnerships designed to increase sales for the fuel station merchants.
This is how it actually works.
The fuel card providers send the members to partnering truck stop amenities or fuel stations. Then they receive a cut which normally is 2% to 3% of the fuel sale.
In order to drive more of the fleet fuel cards members, the merchants offer discounts at their fuel stops. The price discounts usually go per gallon.