Fuel cards are great tools for trucking businesses. It allows them to maximize fuel discounts, spending controls, efficient reporting, and more features. If your fleet doesn’t have one yet, we will guide you on how to get a fuel card for your trucking business and how to utilize it.
Read on to start integrating fuel cards into your business with five easy steps.
5 steps to get a fuel card for trucking
1. Consider your business size
First, you should consider the size of your fleet. This will help you understand what perks will benefit your trucking business the most.
Most fuel cards are designed for specific fleet sizes. For example, small fleets with less than a dozen trucks will benefit most from small business fuel cards.
Unlike those made for large fleets, fuel cards for small businesses often have lower fees. It also has features that fill the gaps in a small yet growing fleet.
2. Choose from your fleet card options
Next, you should browse your fuel card options to see which works for your business best. Shortlist a few options and compare their perks.
You’d want a fuel card accepted in at least 1,000+ truck stops nationwide. You should also check how much fuel discount the card provides.
Overall, choose the card that makes the most sense for your trucking business.
3. Check the fuel card perks
The best fuel card for trucking goes beyond fuel discounts. Look for a fuel card with service discounts, so you can save more on operating your fleet.
Aside from that, consider a fuel card company that also offers factoring, accounting, and dispatch services. This way, you’ll get a one-stop provider for your trucking business needs.
4. Submit an application
Once you find a fuel card provider you like, you can send an application. After that, you’ll receive a proposal to see if the card perks and pricing meet your needs. Provide all the needed information to ensure hassle-free approval.
Remember that fleet cards aren’t the same. Make sure that the card of your choice is the right choice for your business before sending an application.
5. Enjoy your fuel card!
Once approved, you’ll receive your fuel card. You can start using it to enjoy discounts and other perks for your fleet.
Why you should get a fuel card for your trucking business
Are you hesitant or unsure if a fuel card is right for your trucking business? The following benefits can help you decide:
1. Fuel savings
You can save as much as 35 cents per gallon of fuel with a fuel card. While this may sound small, it adds up to huge savings.
In fact, a single commercial truck uses an average of 20,500 gallons of fuel a year. Even if you only have several trucks, the savings from fuel cards are undeniable.
2. Financial security and control
Most fuel cards feature spending controls, which prevent unauthorized use. It’s specifically beneficial for operators who hire drivers.
With this feature, trucking businesses can set daily gallon limits, spending limits, location limitations, and so on.
3. Automated reporting
Fuel cards are connected to reporting software to generate quarterly IFTA or International Fuel Tax Agreement reports. The report is easily downloadable from the software instead of calculating it on your own.
This will save you and your company a lot of time. Also, it will let you focus more on booking high-paying loads instead of digging into receipts.
4. Convenience for drivers
Fuel cards are more convenient than paying with cash on the road. It provides the speed and convenience of credit cards, and drivers don’t have to worry about keeping receipts.
5. Transparency and peace of mind
Fuel cards eliminate the tedious accounting process for every purchase on the road. Every time a driver pays with the fleet card, it automatically logs the transaction.
It’s easier for you to calculate your expenses without missing a cent. It prevents losses and unexplained transactions.
6. Variety and flexibility
Fuel cards are available in different types and with various inclusions. This allows trucking companies to find the right one for their needs.
7. Easier budgeting
With a fleet card, budgeting fuel expenses for your business will be a total breeze. It’s straightforward to manage on-the-road expenses without having to do manual labor.
You simply load your fuel card and set a spending limit for easy-peasy budgeting on your entire fleet.
8. Bundled with other services
Some fuel card providers like Factoring Express also offer complementary services for truckers. This includes accounting, dispatch services, and factoring.
This means that trucking businesses will have a single platform for all their finances. Aside from the benefits of their fuel card, they can also receive instant payments for their invoice. Their fuel cards can also be funded through fuel advances.
All of these guarantee steady cash flow for truckers. Owner-operators no longer have to think about where to source their funds when clients don’t pay up fast.
Where can you get a fuel card for trucking?
If you’re looking for a fuel card, Factoring Express would be a wise choice. We’ve partnered with 1,000+ truck stops nationwide to offer you fuel discounts, rebates, and more perks.
Also, our fuel card is suitable for all fleet sizes. Whether for a single truck or a growing fleet, we have the fuel card to maximize your savings. Since we started, our fuel card program has secured $150 million worth of discounts among our trucker clients.
Simply fill out our application form and submit the requirements for fast approval. You’ll unlock all the above-mentioned benefits of fuel cards in just a few clicks.