Fuel Card Discounts: A Professional’s Guide To Maximize Benefits

Every driver in America is being hit with high fuel costs, and it’s negatively affecting their transportation budgets. Fleet managers and owner-operators are being walloped, and they must find ways to keep these costs down if they wish to remain profitable. Many in the industry are taking advantage of fuel card discounts. What is a fuel card, and how can it help a driver save money on their fuel purchases? 

Understanding Fuel Cards

Fuel cards are similar to credit cards in many ways, but they are used explicitly for purchasing fuel and services at truck stops and gas stations. Commercial drivers, transportation businesses, and fleet operators benefit from these cards, which are reserved for those in the industry. A person can apply fuel discounts to a fuel card or receive rebates on the fuel they purchase.

Certain fuel cards are used at specific brands’ truck stops and gas stations. Other cards are universal and will be accepted at countless stores and stations nationwide. With the help of these cards, the transportation industry can manage fuel expenses more efficiently, gain a better understanding of their fuel costs, and identify areas where they can reduce these costs.

Using a Fuel Card

A person must first apply for a fuel card through the selected provider. The provider will require them to provide basic information about their business to determine if they qualify for the card. Once the individual or business is approved, physical cards will be mailed to them. These cards may be distributed to fleet drivers or used only for specific vehicles within the fleet. The account holder determines who receives these cards.

Managers appreciate having these fuel cards because they can establish spending limits and restrict the types of purchases that can be made using the card. They may even be able to limit transactions to specific times of the day or designated locations. The manager can monitor all transactions in real time with the help of an online portal or mobile app to ensure the card is not being misused. Furthermore, the manager can see immediately how much money is being spent on fuel.

If your card provider supplies the fleet manager with a detailed report showing exactly how much fuel was purchased, when it was purchased, and where it was purchased, then the fleet manager can accurately track fuel usage. The manager sees the price paid per gallon and the odometer reading on the vehicle that received the gas. Billing is also consolidated, so the fleet manager spends less time tracking expenses and completing accounting tasks.

Cost Savings

Fleet managers find they save when using fleet cards. They may receive a direct fuel discount when a vehicle is filled up. These savings often seem minimal at first, but they add up over time. Card providers might also offer fuel rebate programs that return money to the cardholder based on their monthly or annual spending. Network pricing is another benefit provided by many fuel cards, as who doesn’t love saving money at the pump? 

As the fleet manager spends less time tracking expenses and handling accounting tasks, administrative costs also decrease.  Fleet managers appreciate being able to track spending in real time to prevent fuel theft and unauthorized purchases, and the detailed reporting allows them to ensure they are maximizing their tax benefits.

Companies in the transportation industry benefit from obtaining fuel cards. Owner-operators, small fleets, and individuals can all use these cards successfully, as they have minimal or no annual fees; companies start saving the first time they use the card. If the company must pay a modest fee to obtain the card, they typically find they recoup these funds within the first few months of using it.  Furthermore, many of these card providers offer additional benefits, such as discounts on maintenance and other related expenses. Every transportation provider should research various card options to determine which provider best meets their needs. Doing so allows them to maximize the benefits.