If you own a small business with a fleet of vehicles, managing expenses and earning rewards can be a challenging task. However, with the right tools, such as a fleet fuel card, you can simplify this process and reap the benefits. Fleet fuel cards are specifically designed for businesses with multiple vehicles, offering fuel rebates and expense management features. In this article, we will explore the best fleet fuel cards available in the market and help you choose the right one for your business.
A fleet fuel card serves as an alternative to a business gas credit card, providing specialized features for fleet operations. These cards typically function as business charge cards, requiring you to pay your balance in full each month. Some cards may allow you to carry a balance, but they usually offer lower fuel rebates. Most importantly, fleet fuel cards are used solely for fuel-related expenses, ensuring that you can track and manage these expenses separately from other business costs.
One of the key advantages of fleet fuel cards is that they do not require a personal guarantee, making them more accessible compared to traditional business credit cards that require a personal credit check. This accessibility is especially beneficial for small businesses that may not have established credit histories or strong personal credit scores.
Now let’s explore some of the best fleet fuel credit cards available in the market:
1. AtoB: AtoB is a technology company that offers fuel cards along with an expense management platform and a dedicated mobile app. With AtoB’s tools like AtoB Unlimited and AtoB Flex, users can enjoy discounts of up to 12 cents per gallon at gas stations and up to 84 cents per gallon on truck diesel. AtoB’s cards are not limited to a particular fuel brand, although discounts are available at participating stations within the AtoB partner network.
2. Coast: Coast fuel and fleet cards offer savings of up to 4 cents off on gas purchases and 1% back on non-fuel purchases like maintenance, equipment, restaurants, and hotels. These cards can be used anywhere Visa is accepted, and they also provide access to Coast’s expense management platform. This platform allows you to track spending across all active cards and set parameters for each individual fuel card, including restrictions on certain purchase categories.
3. WEX: WEX offers a variety of fleet cards, but for small businesses, we recommend the WEX Fleet FlexCard. This card has no setup cost or monthly fees and allows you to carry a balance with interest charges. It also offers a promotional rebate of 3 cents per gallon for the first 180 days. While the card can only be used within the WEX network of over 45,000 gas stations, including major chains like BP, Exxon, and Shell, it includes the expected expense management tools that most fleet cards offer.
4. Fuelman: Fuelman offers a range of fleet cards, including diesel-only options and access to a network of over 50,000 gas stations. For substantial discounts, the Fuelman Mixed Fleet card offers a base rebate of 8 cents per gallon for the first year. However, there are additional fees and potential penalties for missed payments or low credit scores.
When choosing a fleet fuel card, it’s essential to consider the features and benefits offered by each card issuer and partner network. Branded fuel cards may provide above-average rebates at specific gas station chains like Shell or Exxon. On the other hand, fleet cards that run on major credit card networks like Visa or Mastercard offer base rebates of 2 to 3 cents per gallon with the potential for larger rebates through partner networks.
In conclusion, a fleet fuel card can be a valuable tool for small businesses with a fleet of vehicles. Not only do these cards simplify expense management and tracking, but they also offer fuel rebates and potential savings. By choosing the right fleet fuel card for your business, you can effectively manage expenses and earn rewards.