How Businesses Can Save Money Using Fuel Cards
Using a business gas card can be a great way to save money on gas. With some cards you can receive a discount of up to 6 cents per gallon. You can also get a percentage of your fuel purchases back as cash.
Find the best card for your needs
Whether you’re a small business owner, or you fuel a fleet of cars, the best business gas card will make the task of buying gas easier. Typically, these cards offer a small bonus for gas purchases, plus the ability to track and manage fuel purchases.
Some cards also offer bonus rewards for other common business expenses, like airfare or computer supplies. However, a business card is only as useful as its spending limit, so make sure you know what you’re getting into.
The best business gas card might be the one that gives you the most bang for your buck. There are cards that offer huge rewards for gas purchases, as well as those that offer a low standard interest rate.
Track expenses with expense tracking tools
Whether you are tracking business gas card expenses or a personal budget, expense tracking tools are a great way to track your spending. They allow you to see if you are meeting your financial goals and can give you a clear picture of your income.
Expense tracking apps vary in price and features. Some are free, others cost $5 or $30 a month. The best ones will give you an accurate picture of your spending and help you to improve your credit score.
A good expense tracking tool will import transactions from your bank account, credit card, and mobile wallet. They should also provide you with reports in real time.
Get a fuel discount of 6 cents per gallon
Using a fuel discount card can help you save up to 6 cents per gallon on your fuel purchases. There are several different options available, but the one you choose depends on your business needs. The card can be a one-time purchase, or it can carry a balance. Regardless of which option you choose, there are several advantages to using a business gas card.
If your business is in the trucking industry, you may be interested in a single-fleet card that offers a network of over 2,000 truck stops. These locations offer discounts on gasoline, wireless plans, hotels and auto parts.
The BP Business Solutions Mastercard offers rebates of 6 cents per gallon on fuel purchases. This card is ideal for medium to large trucking fleets. The card can be used at any BP or Amoco gas station. There is a $10 monthly account fee, but it is waived for fleets that purchase 5,000 gallons of fuel or more each month. You can also use the card to pay for maintenance services.
Get 3% cash back at any gas station
Whether you drive a gas-powered vehicle or rent a car, you spend a lot of money at the pump. The best gas credit cards can help you save hundreds of dollars per year. However, finding the right one can be tough.
If you need gas on the go, a card that offers 3% cash back at any gas station may be the best option for you. But, be aware that the rewards may differ from card to card. Depending on the issuer, the rewards may be miles, points, or cash back. If you fill up often, you may want to consider a card that offers a full range of rewards.
Get 2% cash back on utilities and 1% back on all other purchases
Using a credit card to pay your monthly utility bills can be a wise financial move. This can help you save money while also improving your credit score. However, you need to make sure the card you choose offers a reward that is more than just a simple fee.
A great credit card to use for paying utility bills would be one that has a flexible bonus category. Some credit cards allow you to select a bonus category once within the first thirty days of opening your account. Other cards allow you to select one again before the start of each quarter.
One example is the Voice Credit Card(r) from Huntington. This card earns a whopping 3X points per $1 spent paying your bills. In addition, it has no annual fee. It also offers no foreign transaction fees.
Get additional employee cards
Adding employee cards to your business can be a smart move. It can streamline the purchasing process and turn your employees’ purchases into rewards. And it can save your business money at every fill up.
The company gas card is a no-brainer for companies with employees who frequently drive for work. However, not every business will benefit from this type of card. For instance, a single car owned by a sole proprietorship will not be affected.
On the other hand, a large fleet of vehicles could benefit from a business fuel card. A fuel card can help your employees manage their expenses and make fuel purchasing smarter.