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How Could a Fuel Card Save You Money?
By FleetCardsUSA
June 2, 2023
Everyone wants to save money. For truckers and trucking companies, fuel costs are near the top of the list. That’s a no-brainer when you spend most of your time driving or paying people to drive.
Fleet fuel cards save businesses money on gas by offering per-gallon discounts and significant time savings on the administrative side of managing fuel costs. Read on for more details about exactly how they work.
What are the benefits of a fuel card?
Fuel cards are designed to reduce fuel costs and they continue to add more features that dig deeper for further fuel savings. Big players like Citi and Shell are in the fuel card business, but, regardless of size, they’re all out to save drivers and fleet owners money.
These are the top ways fuel cards save large and small businesses as much money as possible on maintenance and fuel purchases.
Fuel discounts
The most straightforward fuel card benefit is savings by the gallon. This discount per gallon will vary and may come in the form of a rebate, but almost every card will offer one. To get the discount, the driver just needs to use their fuel card at an in-network location and the bill must be paid on time. The driver usually will need to use an identification protocol to confirm the purchaser is authorized to use the fuel card.
Fraud and theft protection
Identification protocol is one way fuel cards provide security. Even if someone stole a fuel card, they wouldn’t be able to use it without identification credentials.
Another way fuel card companies prevent theft is by eliminating cash from the transaction. When you fill up with a wad of cash in your pocket, it’s easier for someone to notice. A fuel card is more discreet.
Spending limits to control fuel costs
Fuel cards can be set up to limit spending or the number of gallons that can be purchased. When set appropriately, this still allows truckers to fill up completely while keeping everyone honest.
Simplify fuel expense management with cost controls, alerts, reporting and tracking, and compliance tools.
Savings on vehicle maintenance
Many fuel cards include discounts on the most popular maintenance costs. It might even replace your current roadside assistance solution. How’s that for fleet management that benefits everyone?
Fuel card management tools
Besides being more discreet than cash, fuel cards help with things like expense and IFTA (International Fuel Tax Agreement) reporting. Fuel card companies’ account management capabilities provide quick and efficient ways to turn off lost or stolen cards, often through a mobile app where the driver and administrator can see fuel purchase information in real-time.
Does a fuel card help your credit?
Fuel cards can defer expenses and help with cash flow issues like credit cards do. They can also help your credit score when you keep the balance within the set limits and pay your bills on time.
How do fuel cards help you save money?
Fuel cards are like credit cards, such as a Visa or Mastercard, that are specifically used for maintenance and fuel expenses. Where fuel cards differ is that they provide deeper fuel discounts on fuel prices and real-time reporting about the relevant costs.
When drivers fill up at a gas station or truck stop, they save money and the business has a streamlined way to manage fuel costs.
How to choose the best fuel card for your business
Fuel cards may also have a monthly fee, annual fee, or fees per transaction to offset the fuel card provider’s expenses or to offer a larger benefit, like a universal card that can be used anywhere. Choose the best fuel card that works for you with the right combination of benefits and costs that fit your business to get the most savings on your fuel spend.
Manage your fleet fuel costs with Fuelman
Apply Now to learn more about how Fuelman can save you and your whole team money at your favorite fuel stations, while keeping your drivers safer on the road.
Not Sure Where to Begin?
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Let one of our experienced consultants contact you to discuss your specific situation and business needs. We’ll recommend the best fuel card program for your fleet.
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