Best fuel cards for small businesses

While fuel cards are famous as a saving grace for large trucking corporations, even small companies can benefit from fuel cards, whether you own a trucking company or offer a delivery service for a range of needs. If you have a sizable and regular business expense concerning fuel, oil, and lubricant, a fleet card can not only help you save money, but give you better control over your business and grant employees greater financial security and peace of mind.

How can a simple card do this for you?

Benefits of Fuel Cards For Small Businesses

• Discounts on Fuel

Fuel is an unavoidable expense, but small businesses thrive off controlled purchases, and often lack the funds to buy in bulk and garter themselves a saving. A fuel card rewards small businesses by offering discounts on the purchase of fuel, oil, and lubricate at certain stations, so the more often you use your card, the more savings you gain. In addition, some cards offer rewards for every dollar spent or for every gallon purchased, allowing you to earn money back or even enjoy free fuel in the future.

• Less Risk of Fraud

Some businesses prefer to use a corporate card for buying their fuel, or expect their drivers to use cash and then provide a receipt to be reimbursed. The issue with cash, besides the danger it poses to your drivers in the form of being mugged, is there is still a possibility of your driver being overpaid or underpaid due to a small mix-up in your billing department. With credit cards, the chance of your card being stolen or used for purchases other than its intended purpose is much hirer. Fleet cards for small business are much more precise and leave much less room for fraud or error, which not only save your business from theft and legal issues, but make the entire transaction more convenient.

• Greater Control Over Spending

Small businesses may have the luxury of being more hands-on in their dealings than large corporations, but on the flipside, this also means being nickled-and-dimed into greater spending than necessary can be hugely damaging. A driver who seeks out fuel stations that cost more, who pay a higher grade of gas than is necessary, or has the car oiled or lubricated more often than needed can be an expense that eventually stacks up and sees you losing profits rather than making them. A fuel card for small businesses allows you to set limitations on how much is spent, where it is spent, and at what times, so you can have a tight hold on where your money is going. In addition, regular reports on these transactions allow you to keep a tight eye on what’s going on in your business.

How Much Money Does a Fleet Card Save?

A survey held by Automotive Fleet magazine determined that fleets who take advantage of a managed fuel program, which you would gain with a fuel card, save up to 15% on their entire fuel costs – not only on the price of fuel itself, but in the expenses needed to hire the professionals to handle the management of it. A savings of that size makes a significant difference in the profits of a small business.

How Many Vehicles Do I Need For a Fleet Card?

There is no limitation on how many vehicles are needed to use a fleet card. Of course, the more drivers and vehicles you have, the more savings you can gain from a card, but even a small amount will still earn you savings over traditional corporate cards.

How Much Does a Fuel Card Costs For Small Fleets?

The price of fuel cards for small fleets differs from provider to provider, some requiring an annual fee and a card fee, while others do not. The important thing to consider when choosing a card is your location and the different stations your card supports. This is because the price of gas you see on the sign may not be the price you’ll pay with your card; and on the flipside, going to the wrong station can mean you miss out on your promised discount.

What is the Best Fuel Card For a Small Business?

Not all fuels cards are created equal, and since your business has unique needs and requirements, choosing the right card is less about which is “best” and more about which is best for you.

Here is a list of the top options, with unique benefits to suit your needs:

• Visa Fleet Card

A trusted name, this fleet card encompasses a wide range of options when it comes to the stations and maintenance hubs you visit, making it a good choice for small businesses that may live in an area without the options other fleet cards offer or if long-distance travel is a part of your business needs. Even better, it offers customizable limits on spending at certain locations, so you can keep a more controlled hold on your business’s finances.

• BP Business Solutions

Flexibility is important for small businesses, and so the BP fuel card offers the ultimate flexibly with three different options for your company depending on its size. This means you can upgrade or rework your plan as your business grows, and enjoy the same quality service without paying the same price as large corporations.

• ARCO

If you’d like more control on the amount of money spent, or wish to give your drivers more freedom, the ARCO card allows both with prepared cards and standard business ones. Its reports are also famed for being thorough and comprehensive, so you can have greater insights into your company’s spending.

• MasterCard Corporate Fleet Program

If you’re looking for a card that offers several locations and digitized reports, then the MasterCard Fleet option is one that delivers convenience. This card will work at over 560,000 locations so you can enjoy reliability, and its online reports allow you to manage your business even while on the go.