Does your business need a fleet card?

More small businesses than ever are using fleet cards to take control of fuel expenses. Here’s why.

If your business uses vehicles, fuel is probably one of your biggest expenses. No matter how many vehicles you have, a good fleet card can give you savings at the pump and beyond.

Smarter than a credit card, safer than cash

If employees already pay for fuel with cash or a company credit card, what’s the big deal?

Cash is easily lost or stolen. You can’t really control over how much is spent at one time, or at which locations.

Credit cards can give you basic info like location and purchase amount, but that doesn’t tell you much about your spending. Plus, credit cards are usually swipe-and-go, with no verification before the transaction. If something’s wrong—for example, if the card was stolen or someone buys something they shouldn’t—it could be a while before you know.

A fleet card adds transparency, security, and control to help keep more of your money in your business, where it belongs.

Top fleet card benefits for business owners

What do business owners appreciate most about their fleet cards? Here are the most popular benefits.

Rebates

Most fleet cards offer rebates, so you can save a few cents per gallon at the issuing brand. (This means if you get a fleet card from Brand X, you get rebates only on fuel purchased at Brand X locations.) The more you fuel, the more it adds up.

Universal acceptance

“Universal” fleet cards powered by WEX are accepted at virtually any U.S. gas station—95% of them, in fact. This gives you the flexibility to fuel wherever you need to, without having to drive out of your way to find the right gas station. (And remember, you earn rebates at the issuing brand.)

Security and control

Fleet cards should require drivers to enter identifying info for every purchase, like a PIN and current odometer reading. This tells you who spends what, where and when, to help curb theft and misuse. A good card program also lets you control how employees can use the card, like limiting purchases by product type, dollar amount, and even the time of day or week.

Online accounting and reporting

This one’s easy. Would you rather track fueling expenses automatically, or keep chasing down employee fuel receipts? The best fleet cards also give you instant access to a variety of reports, to view online or download to your bookkeeping software.

The little things

Things like great customer service, an easy to use web portal, and a mobile app to access your account when you’re not in the office. Like so much in life, these little extras make a big difference.