Choosing the right fuel card program can save trucking companies of all sizes time and money. Look for a card with comprehensive network coverage, reasonable fees, and security features that prevent misuse.
With the best diesel fuel cards, you can enjoy discounts at virtually every gas station, plus expense management tools and reporting metrics. Learn more about how to choose the right fuel card for your company in 2023.
Convenience
Fleet fuel cards offer benefits that help business owners manage transportation costs and optimize their bottom lines. Whether you own a trucking company, work in delivery services, or operate a taxi or limo service, fleet cards are an ideal solution to simplifying and optimizing your operations.
Unlike credit cards tied to specific individuals, fleet fuel cards enable businesses to monitor and oversee drivers’ refueling purchases. Additionally, most fleet cards use an identification number to track fuel and other perks, which helps prevent unauthorized or fraudulent purchases. Many also offer automatic accounting, so all your transactions are logged in a digital format that is easy to export and integrate into your business management software.
When choosing a fuel card for your trucking company, choose a provider with nationwide coverage. This will allow your drivers to refuel wherever they need to to complete their routes without traveling to find a gas station that accepts the card. Additionally, look for cards that do not charge excessive fuel or maintenance fees and allow employees to pay for in-station convenience items, like drinks or snacks. This can be a great way to boost employee morale and keep operating expenses low.
Rewards
A fuel card is a convenient way to track spending and minimize vehicle-related expenses. It also helps you keep your drivers accountable and optimize your fuel consumption. The best fleet cards provide back-end reporting, control features, and loyalty rewards. They also come in different varieties, from prepaid fuel cards that you pre-load with funds to credit cards that allow your driver to carry a balance.
When choosing a card, consider your region and the stations you frequent. For instance, some fuel cards offer great discounts only at particular stations or in a limited geographic area, while others boast a more comprehensive network. You also need to look at the fees and other requirements. Some cards have a high per-gallon rebate but charge setup, annual or monthly fees.
Some fleet cards offer an extensive partner network for extra savings on gas and other purchases. Other cards are restricted to a specific fuel brand but provide a good rebate. Many top fuel cards also have additional tools to manage the card and its usage, including a dedicated mobile app. This makes them more useful for fleets of all sizes, from the most minor construction team to a multinational trucking company. However, individuals can’t sign up for these cards as they are primarily designed for businesses that oversee and control fuel purchases and maintenance across a group of vehicles.
Security
A fleet fuel card is a great way to track spending, limit access, and prevent fraud while saving you time on expense reporting. However, there are many different types of fleet fuel cards on the market with various features, so choosing the right one for your business requires careful analysis and comparison of the options available.
A quality fleet fuel card should have built-in security measures, like PINs and driver IDs. This helps to ensure that only authorized employees can use the card, which minimizes unauthorized purchases. It should also feature a secure payment network that uses chips rather than magnetic stripes, making it less likely to be skimmed. Additionally, a good fleet fuel card program should offer purchase controls that allow businesses to restrict the type of fuel or product a driver can buy. These limits can prevent drivers from purchasing the wrong power and potentially causing maintenance issues or engine problems.
Other critical security features include real-time monitoring and alerts for suspicious activity. In addition, many fuel cards offer automatic accounting, meaning that sales tax, mileage, and more are recorded automatically when a purchase is made. This eliminates the need for drivers to collect paper receipts and managers to input data into a spreadsheet or system manually and can save your team considerable time.
Reporting
A fleet fuel card can help businesses in the transportation industry — or any business with delivery drivers, for example, limo companies — save money on gas. These cards provide impactful features like account tracking, financial reports, and controls for limiting purchases by driver or vehicle. They also aid with regulatory compliance through IFTA reporting and other tax-related reporting.
Choosing the right fuel card requires research and consideration. While the size of your fleet will play a role, you should also focus on the region, discounts, fees, and controls. Ultimately, the best fuel card will meet your specific needs.
For instance, some offer rebates on gallons purchased at participating locations, a secure online dashboard, and trusted security features. Its network covers nearly all states and is accepted at 45,000 maintenance locations, making it an excellent option for most fleets. It also offers detailed purchase information beyond the essential receipts you would find with a credit card, such as driver and odometer details.
It has a universal network accepted at more than 95% of fueling stations. It offers a mobile app, easy online account management, and a user-friendly dashboard with advanced analytics for monitoring purchase trends and analyzing cost savings opportunities.
