Detailed Guide To Fuel Cards
There are many businesses that rely on transportation of goods and support a fleet. Their profits highly depend on the fuel prices. Predictions show that the car market should gear up for increased green cars, which is a step in the right direction. But before getting there, many still have to contend with the rising cost of fuel. However, using fuel cards can have a great impact in trying to save on the fuel costs.
Who Uses Fuel Card Services?
First, not just fleet companies can use fuel card services, but virtually anyone who owns an automobile. For businesses, the card goes a long way in matters management of expenses for your business.
Benefits of Using The Fuel Cards
In your application for the card, you can actually budget your fuel consumption and stick to your budget. As such, choose a card that best suits your need since there are quite a number on the market. However, general benefits of using them include the following:
- When drivers have to pay for their fuel, they just use the card and they don’t need to carry cash with them.
- Making savings on your fuel costs and also giving you total control on how you spend on fuel.
- For businesses, they benefit from reduced administration work since the fuel card company computes all the details and includes them in their statements.
- Enhanced security
- The card gives you an opportunity to claim VAT.
- Most of the fuel card companies have an online system for management of one’s account.
- The fuel prices may be at lower rates for fuel card holders.
- Tightened control on business expenses
- Eliminate fraudelent transactions
- Increased flexibility of fuel recharging
Types of fuel cards
Bunker cards – the provider of this type of fuel cards buys the fuel in bulk and therefore is able to sell it at lower prices. The benefits of these cards will be available only at certain petrol stations. You can either preload the card with money or pay as you go.
Retail cards – retail cards are very similar to store cards – they are credit cards with the name of the provider on top. You will benefit from lower prices, interest free credit periods, loyalty points, etc. The difference is that with this card you will be able to buy not just fuel but also other vehicle related items.
We recommend you to have a look at the fuel card provided by Allstar.co.uk. Their card can be used at about 8,000 places nationwide. They offer different discounts depending on how big your fleet is and it’s up to 4 p a litre.
TrackCompare.co.uk offers fuel cards apart from tracking systems. It’s very easy to compare providers with them as they only ask you for the amount of litres you use each month and what type of fuel you’re interested in. You will be shown a list with all the available fuel cards for your circumstances.
You may also want to read about: Car Valuation