A fleet card can help your business control vehicle-related spending. I Canceled My Oldest Credit Card. Here's What Happened to My Credit Score Subject to credit approval. The use of a fleet card may eliminate the need for carrying cash and make it easier to prevent fraudulent transactions from occurring at a fleet owner or mangers expense. Base rewards rate: 2% cash rewards on purchases. What if additional documentation is required? These earnings will usually be made available as a statement credit. CreditCards.com does not include the entire universe of available financial or credit offers.CCDC has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. You probably need both. How is a Fleet Card Different Than a Credit Card? Some cards offer volume discounts on fuel purchases. What are fleet fuel cards? - USA TODAY Blueprint Your accounting department will thank you, and youll sleep better at night. She loves tracking down tips, tricks and cautionary tales about credit cards and money. Credit card identity theft is on the rise. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Copyright 2022 FleetCardsUSA. The majority of companies that use fleet cards work in the transport industry. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear within listing categories. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. 103.151.9.58 The information for the Sunoco Business Fleet Card has been collected independently by Blueprint. A dedicated team of CreditCards.com editors oversees the automated content production process from ideation to publication. Keep an eye on your inboxwell be sending over your first message soon. A business will typically issue fleet cards to their vehicle drivers. Before you apply, take a look at the programs offered, because different cards have different costs and benefits, as well as different parameters on where the card is accepted. CreditCards.com credit ranges are derived from FICO Score 8, which is one of many different types of credit scores. The good news is that its generally easier to get approved for a fleet card than for a business loan or even a standard business credit card. They provide a credit line specifically for fuel and vehicle-related purchases. Whats more, detailed reporting features and the ability to control spending can also ensure that drivers are fueling up efficiently and arent spending more than they should. 3 reasons we see people flipping to a fuel card: Apply Now Well use the last four digits of your Social Security number to get your approval odds. Most companies offer a web portal where you can check your data. The action you just performed triggered the security solution. Cash back credit cards typically pay you back a . in Business and Economics Journalism from Boston University. and the CITGO Fleet Card. The vast majority of fleet cards are issued by major oil and gas companies like Shell, ExxonMobil, Chevron, and Texaco. The card details on this page have not been reviewed or provided by the card issuer. These services can help you monitor your credit and catch mistakes as early as possible. Even if youre putting enough miles on your businesss vehicles to benefit from a fleet card, since youll be limited to vehicle-related purchases, youll be best served by having a business card, too. The card details on this page have not been reviewed or provided by the card issuer. Fleet cards offer special benefits for businesses that need a steady flow of fuel to keep company vehicles on the road. Any company that operated vehicles ranging from small plumbing companies to large trucking companies use fleet cards to purchase fuel. Everything for your home from floors to dcor. The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Thats where fleet fuel cards come in. Rebecca Safier, Credit Cards Technological upgrades or other business investments. For further information about automated content on CreditCards.com, email Lance Davis, VP of Content, at lance.davis@bankrate.com. Privacy Policy. A denied credit card application doesn't affect your credit score. Debit Card vs. Credit Card: What's the Difference? In many cases, youll be able to get feedback on your application sooner with a fleet card as well. You should also be able to set up text or email notifications to get alerted to purchases based on criteria you set. Other factors, such as our proprietary website's rules and the likelihood of applicants' credit approval also impact how and where products appear on the site. These features allow you to monitor which purchases are made by which employees and to save money by reducing the risk of losses due to unauthorized purchases. Last four digits of your Social Security number, The Universal Premium FleetCard MasterCard, Do Not Sell or Share My Personal Information, Well run a soft credit pull, which wont impact your credit score, Youll see your estimated approval odds near cards to help you narrow down your options. In addition to truck stops and fuel stations, some cardholders can use their fleet cards for vehicle maintenance and other driving-related costs at auto parts stores and mechanic shops. Fleetcor is a fleet card payment service provider offering corporate fleet card products. Fleet cards tend to be issued by a single company. Where can the card can be used? All rights reserved. Other factors, such as our own proprietary website rules and the likelihood of applicants' credit approval also impact how and where products appear on this site. A list of selected affiliate partners is available here. The card details on this page have not been reviewed or provided by the card issuer. For neighborhood, regional, and other short-journey fleets. A fleet card can be an excellent tool for business owners who are just starting out. That means a fleet card might offer a good way to start the journey toward building, or rebuilding, business credit. Another popular feature on many fleet fuel cards is the ability to keep tabs on drivers. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. But what about a business credit card or a fleet card? Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. The driver has other deliveries to make, but they dont have enough cash to cover. We use enhanced fraud protection measures to keep your capital safe. Check the data at the top of this page and the bank's website for the most current information. In partnership with ChargePoint, the worlds largest electric vehicle charging network, WEX offers: A free benefit of your fleet card program, Roadside Services is delivered in partnership with the National Automobile Club (NAC.). I lost exactly two points by closing my oldest credit card. The card details on this page have not been reviewed or provided by the card issuer. Every WEX fleet card is smarter than a credit card, safer than cash. Frequently Asked Questions What discounts do I get with the AtoB card?. Newer cards come with a microchip on the front along with a magnetic stripe on the back so they can be used at point-of-sale (POS) terminals. For example, a fleet card might offer the ability to: Lock or limit spending based on certain criteria, receive alerts, assign a card to a specific driver or vehicle, track activity and view reports online. But if your driver switches vehicles, a vehicle card employs driver PINs to allow you to easily see which driver filled which vehicle when. * Save 10 on diesel & unleaded at Pilot, Speedway & Kwik Trip, and 2 on diesel & unleaded at all other Fuelman locations*, Help prevent fraud & misuse by customizing fuel controls, Manage driver profiles and turn cards on/off, Real-time alerts for potentially fraudulent transactions, Track fuel expenses by driver and vehicle no more cash or lost receipts, Simplified reports for easy vehicle expense accounting and tax reporting, Product-level data lets you see what drivers purchase by fuel type, Save at the pump with rebates at preferred stations nationwide on the Fuelman Network, View All Fuelman Simple Saver Fleet Card Details, Save 8 on diesel and 5 on unleaded at 40,000 locations included in our Discount Network*, View All Fuelman Deep Saver Fleet Card Details, Accepted at nearly 160,000 fueling locations throughout the United States, Choose the most convenient and cost saving sites for your business, Prevent unwanted non-fuel spending by limiting purchases only to the pump, Open cards to make purchases at over 400,000 maintenance locations, Save up to 6 per gallon with volume rebates* on purchases within the Retail Savings network**, View All The Universal Premium FleetCard MasterCard Details. Fleet Cards For Business FAQ | Questions About Gas Cards to maintain accurate information. (4)Fleet cards may offer easier approval. WEX innovative solutions do more than what a credit card can offer. PDF Fleet Credit Card Services for Maui SPO Price List 22-08 Hawaii A "fleet" of vehicles may sound like a lot but, technically, if your business has two or more company-owned vehicles, it has a fleet. GSA Fleet Card Acceptance Where to use your GSA Fleet card Charging your electric vehicle How to purchase fuel on a military installation Click to reveal This allows the card issuer to bill the company directly rather than the employee, who would have to file expense reports to be reimbursed at a later date. Credit cards come with a minimum monthly payment due that can be much lower than your total balance. GSA Fleet Card | GSA The GSA Fleet WEX card is accepted at over 180,000 fueling and maintenance sites in all 50 states, U.S. territories, and Canada. Though some gas cards may be just for gas, most can be used for all types of purchases. Competitive fuel discounts and powerful security controls. Some covered brands such as Conoco, ExxonMobil and Sunoco offer their own fleet cards that often give better rewards, but purchases are limited to their own stations. It also helps companies to review and manage itemized expenses for their equipment assets. Your credit cards journey is officially underway. Blueprint is an independent publisher and comparison service, not an investment advisor. Smart features and free tools to help you get the most from your Synchrony credit card. However, we may receive compensation when you click on links to products from our partners. Either way, drivers will get a PIN to use when fueling up so you can track employees transactions in real time. Their transactions will automatically load into one central platform to simplify accounting and make it easy to access data. HOME > Privacy Policy. Payment of vehicle-related costs through a fleet card system enables a company to keep close track and tightly manage expenses related to fleet vehicles they own and . Compare cards Apply now Learn more Large Fleet Customized solutions that are tailored to meet the unique needs of your large fleet. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within listing categories. (833) 262-7801. . Alerts are one-way communications via email or text message about your account. Assign specific controls and pump prompts. Use our mobile apps to manage your cards, track spending, and locate the lowest fuel prices along your route. ERGs drive diversity by fostering new bonds and communities across the company. This generous bonus more than . Its own WEX Fleet Card Fleet cards offer some benefits that business credit cards lack. That's because companies are required to pay the outstanding account balance in full by the due date. Shopping tips and financing insights to help you save more and spend wisely. WexLocationCode.setTransientValue("wex02"); Your personal information and data are protected with 256-bit encryption. WalletHub Answers is a free service that helps consumers access financial information. Enjoy high-quality products from hunting to fishing, automotive to household, for your family's needs and outdoor adventures. A fleet fuel card, also known as a fuel management card or a fleet card, is a specialized payment card issued to fleet drivers for the sole purpose of purchasing fuel and related vehicle expenses. The average credit card interest rate is 20.92%, the highest on record. Finding the best fleet fuel card really depends on how much your company spends on gas, the geographic locations where your drivers will be fueling up and the types of features you can benefit from most. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Thats information thats all available pretty much in real time or within hours, says Tom Coffey, senior vice president of sales for Merchants Fleet, a national fleet management company that offers fleet fuel cards. Try the. From industry experts to data analysts and, of course, credit card users, were well-positioned to give you the best advice and up-to-date information about the credit card universe. What Is a Fleet Card? - WalletHub What is a PCard? | WEX Inc. CreditCards.com credit ranges are derived from FICO Score 8, which is one of many different types of credit scores. A fleet card is essentially a payment card used for fuel purchases for a fleet of corporate vehicles. But thats where the similarities end, and the fleet card emerges a clear winner with a host of extra advantages to keep your business running smoothly. The information for the 7-Eleven Business Fleet Card has been collected independently by Blueprint. Robin Saks Frankel is a credit cards lead editor at USA TODAY Blueprint. Fuel prices rise and fall, but a fleet card helps give you consistent savings beyond the pumpa valuable edge for any business. So, is a fleet fuel card right for your company? The Sunoco Business Fleet Card Browse our extensive array of fleet fuel cards appropriate for every type of business and fleets or different sizes. Credit cards are swipe-and-go without verification; A fleet card adds transparency, security and control; Keep more of your money in your business, where it belongs. Essentially, fleet fuel cards are gas cards for companies with fleet vehicles that allow you to limit spending on gasoline, and they're accepted by most national fuel companies nationwide. The information for the Sunoco Fleet Universal Card has been collected independently by Blueprint. However, all credit card information is presented without warranty. Any business owner or manager who gets frustrated having to collect and keep track of gas receipts or monitor driver activity or who simply wants to save a few bucks gassing up multiple vehicles can benefit from a fleet fuel card. You can use our Visa-powered cards anywhereeven at local fuel stations. They help owners manage employee payments and client invoicing in one platform. A business will typically issue fleet cards to their vehicle drivers. Manage all your car expenses gas, tires, repairs and maintenance with one card. Stay up-to-date on the latest credit card news from product reviews to credit advice with our newsletter in your inbox twice a week. Information on WalletHub Answers is provided as is and should not be considered financial, legal or investment advice. Dawn Papandrea is a Staten Island, New York-based freelance writer specializing in personal finance, career and lifestyle topics. Apply Now For a Card Build the right card program that fits your needs. Youll get access to valuable metrics on your vehicles, be able to set limits on what drivers can purchase (and when) and maybe even unlock generous rewards on gas to help your bottom line. Instead of using cash to pay for fuel, companies can use fleet credit cards when they need the cash for something else, like: Lets break down a scenario where an owner operator would benefit from using a fleet card: Using a universal fuel card is an excellent way to save money on fuel expenses, create a cash flow safety net, and enjoy other built-in conveniences provided by fleet fuel card companies. Fleet cards, also known as fuel cards, act just like charge cards and are provided by major oil and/or specialized credit companies. The Best Credit Cards With No Annual Fee - Buy Side from WSJ Businesses provide their personnelnamely transportation employeeswith fleet cards for fuel, vehicle repairs, and maintenance. This is. Pay for mobile refueling and driver training. The offers that appear on this site are from companies from which CreditCards.com receives compensation. Robin Saks Frankel, Credit Cards But a new business owner or manager might find it difficult to get business credit even if they personally have an excellent track record because the business itself has little or no credit history. Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. Not sure whether to get a small business credit card or a fleet card? Fleet Farm | Manage Account or Apply - MySynchrony Americans Owe Nearly $1 Trillion in Credit Card Debt. Here's How - CNET Shell has three different fleet fuel cards depending on your business needs, but two of them can only be used fee-free at one of Shells 13,000 stations; the third is accepted at non-Shell locations, but has associated fees. A dedicated team of CreditCards.com editors oversees the automated content production process from ideation to publication. Annual Fee: $550. What Are Fleet Fuel Cards? Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). Apply for a fleet card today! Fleet Card 101: Everything You Need to Know | WEX Inc. Blog An owner is awaiting a $5,000 payment from a client, and they have to run payroll within the next 24 hours. WalletHub editorial content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by any company. Some fleet card providers also offer reward and loyalty programs that provide additional savings. Fleet fuel cards can be an excellent tool to help business owners save on gas, manage employee purchases and track vehicle fuel and maintenance. Depending on the fleet card, you may also be limited as to which merchants you can use. Some issuers require you to pay your bill once a week or every two weeks, Coffey says. The credit card application impacts your credit score by a small amount, but that's true whether your application is approved or . Log in now and set up alerts to stay on top of your account and to track your daily spending. Fleet cards are fairly easy to get. The information for the AtoB Visa Card has been collected independently by Blueprint. Managed fuel programs save businesses an average of 15% on overall fuel costs. It also makes it easier for companies to track and manage vehicle expenses. Fleet cards generally provide a level of oversight, allowing businesses to better manage their expenses, as well as identify cost-related trends. WEX Fleet Cards Review: Are They Right for Your Fleet? - Expert Market and the Exxon Mobil FleetPro Card Some cards charge no monthly fee and others waive it if you buy a certain amount of gas per month. In this article, we discuss expert tips so you can get the most out of your card. If you want to spruce up your credit . Apply Now. Also worth noting is that some fleet fuel cards are charge cards, meaning you have to pay the full balance each month or else risk your account being frozen and/or have penalty charges levied, and some let you revolve a balance like a regular credit card. A fleet fuel card is meant to help track the fuel expenses of multiple drivers working for a company and can generally only be used for gas and other vehicle-related purchases. Fleet cards allow businesses to manage and budget for vehicle-related expenses without the additional hassle of administrating costly expense reports and reimbursements. Employee Resource Groups are great because it gives everyone a voice regardless . How is a Fleet Card Different Than a Credit Card? The main difference is that the FleetPro card is geared toward mixed fleets that include diesel-operated vehicles. The first step in getting a gas card is to check your credit score. By providing my email address, I agree to CreditCards.coms To earn reward points on Fleet Farm qualifying purchases, enter your Fleet Rewards account phone number each time you make a purchase. Some cards offer tiered programs, meaning the more fuel you buy each month, the more you save. can also be used to get discounts with partner auto mechanics, maintenance shops and car wash companies. Well recommend the best fuel card program for your fleet. Per diem payments are a daily allowance employers give to their employees to cover some or all costs incurred during a business trip. A fleet card is a credit card businesses use for fuel purchases for their corporate vehicles as well as to pay for vehicle repairs and maintenance. That said, some fleet fuel card providers offer a nice balance of gas rewards, driver data and expense tracking and other benefits. This reduces the administrative expenses associated with maintaining a reimbursement program to pay employees for the money they use on gas and vehicle maintenance. The payment will be the amount you select: either the Statement Balance, the Total Minimum Payment Due or a self-selected (other) amount. By providing my email address, I agree to CreditCards.coms Verified by an expert means that this article has been thoroughly reviewed and evaluated for accuracy. Well use this information to to verify your credit profile. Content published under this author byline is generated using automation technology. But what is a fleet card, and how does it work?. See how a big purchase can fit your budget with manageable monthly payments. Your answer should account for all personal income, including salary, part-time pay, retirement, investments and rental properties. In addition, it is not any companys responsibility to ensure all questions are answered. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Just as you would with your personal credit cards, its key to pay your fleet card bills on time every time to build good credit. The good news is that it's generally easier to get approved for a fleet card than for a business loan or even a standard business credit card. Earn 4 Points per $1 spent on qualifying purchases at Fleet Farm. How do you do a balance transfer with Amex? The Best Credit Cards For Food Delivery Services Of May 2023 The information for the Sunoco Fleet Universal Card has been collected independently by Blueprint. * Our platform seamlessly integrates with Quickbooks. In a recent report, "Fleet Cards in 2023: An Industry in the Fast Lane," Ben Danner, Senior Analyst of Credit and Commerce at Javelin Strategy & Research, explores the different types of fleet cards, and how the industry is shifting to accommodate electric vehicle charging. Some Business Fleet Fuel cards can also be used to pay for vehicle maintenance and expenses at the discretion of the fleet owner or manager. If you have more than a couple company vehicles to keep track of . Please view our full advertiser disclosure policy. WalletHub members have a wealth of knowledge to share, and we encourage everyone to do so while respecting our. Women play an important role at WEX. A well-managed fleet card can certainly be a first step towards future extensions of business credit. Military veterans possess invaluable leadership skills and business acumen. Get the latest Health Trends & Insights news in your inbox. Our experts have learned the ins and outs of credit card applications and policies so you dont have to. Is a Fleet Card the Key to Building Business Credit? If your small business relies on one or more sets of wheels such as a plumbing company, a mobile dog grooming service or a pizzeria that delivers a fleet card could help you keep it running smoothly. The information for the Exxon Mobil FleetPro Card has been collected independently by Blueprint. Some providers offer an online recommendation engine that will show you the best card(s) for your particular situation. https://www.eia.gov/petroleum/gasdiesel/. Gasoline and Diesel Fuel Update. They're usually issued by oil companies or by specialty credit firms catering specifically to the fleet card market. Fleet Cards | Savings, control and fuel card data | WEX Inc. She has also covered credit cards and related content for other national web publications including NerdWallet, Bankrate and HerMoney. Look for a fleet card provider with sophisticated business payment automation processes and intuitive expense reporting, and youre on your way to saving money, time, and aggravation. Follow her on Twitter at @robinsaks. However, these cards have a few potential drawbacks. As noted above, companies may issue fleet cards to employees who are authorized to use company vehicles rather than have each employee use a personal card. Cards are commonly used by trucking, delivery, and ridesharing companies. Some trucking companies utilize fleet fuel cards to help reduce their fuel spending, track their purchases, and streamline employee payment or billing. A fleet card could be right for you. 5 Best Gas Credit Cards for US Fleets in 2023 Reviewed - Expert Market How Is a Fleet Card Different From a Credit Card? $4-12/month per card (First 6 months waived). MC4. You may not be aware that you're an . Pay drivers instantly and for less with AtoB. Fleet cards are a type of payment card that allows businesses to manage expenses associated with the vehicles they own and operate. Over time, this positive payment behavior and mindful account usage will help you grow your score. Editorial and user-generated content is not provided, reviewed or endorsed by any company. Fleet fuel cards can help you build your business credit. Fleet fuel cards are a type of credit card designed specifically to pay for gas expenses (and sometimes, other vehicle-related expenses) for a business that uses a fleet of vehicles. People with lower credit scores may be limited to gas cards that work only We are committed to being fully transparent with our readers.