Saving money at the pump is a primary benefit of trucking fuel cards. But they also offer many other perks, such as tracking costs, setting spending controls, automated IFTA reporting, and helpful apps.
Owner-operators and trucking companies can enjoy cost savings on diesel, roadside assistance, maintenance, tires, document scanning, lodging, and more with fleet fuel cards.
Saving money at the pump is one of the top reasons owner-operators get fuel cards. Many offer a discount on petrol or diesel purchases at their network of stations, often just a few cents per gallon which, over 100 refuelings, can add up to significant savings.
A single, secure payment method for all on-the-road expenses can make budgeting more effortless. Unlike cash, which can be lost or stolen, a fuel card offers the additional security of being assigned to a driver ID and capturing relevant transaction data such as price per gallon, location, odometer reading, and more. It allows fleet managers to monitor and optimize costs and provides the transparency needed for quarterly IFTA reporting.
Most fuel cards also feature adjustable spending controls that help keep refueling costs in check. They can limit refueling to specific locations or times of day, set daily purchase amounts, and even restrict what fuel types are purchased.
Track Your Spending
One of the challenges for owner-operators is keeping track of their expenses. Fuel, maintenance costs, tolls, and more can add up quickly, making it hard for drivers to know how much they spend from one week to the next.
A trucking fuel card can help keep all those purchases in one place, making tracking them easy and preventing overspending. The best fuel cards also come with various features that can provide valuable insight into the company’s on-the-road spending, such as odometer readings, driver ID details, purchase types, time and date of each transaction, and location information.
Another way that fuel cards can save money is by allowing drivers to take advantage of discounts at affiliated locations. Some of the top trucking fuel cards offer an average savings of a few cents per gallon, which can add up over a large number of refuelings.
The best trucking fuel cards also feature a variety of other perks that can be useful for fleets of all sizes. For example, some offer weekly credit lines and PlusCheks that can be used to pay for food or other purchases at a truck stop. Others allow you to set spending limits by category or location, helping you to manage the financial health of your fleet on the road. Lastly, many fuel cards also work at all significant fuel stations thanks to their networks and include extra features such as digestible reports, station-finder apps, and more.
Access Cash Advances
Trucking fuel cards are a valuable tool for owner-operators and fleets, helping save money on fuel costs, set spending controls, and streamline IFTA reporting. But with so many fuel card options, knowing which is right for your business can take time and effort. In this guide, we’ll explore some of the top benefits of using a trucking fuel card and help you find the best one for your company.
Significant fuel savings: Many fuel card programs offer discounts at a selection of partnered gas stations and truck stops. These can add up to significant savings over time. In addition, some fuel cards allow you to set spending limits like a daily transaction or gallon limits and postal code restrictions that only work at in-network locations. It can help guard against fraud and unauthorized purchasing.
Other features: Many fuel cards also provide perks like discounted food at truck stops and free showers, boosting morale on the road. Some even have automated IFTA reporting, saving fleet managers and administrators time.
While cash advances are expensive due to high transaction fees and interest rates, they can be an excellent last-resort option if you need emergency funds quickly. The good news is that many fuel card providers offer them for a low fee, making them more convenient than taking out a personal loan.
Whether you’re an owner-operator or a trucking company with a fleet, fuel cards can make your life easier. Their numerous benefits help you save money on diesel fuel and streamline back-office processes. On top of that, they can give you access to cash advances and other perks that may not be available through traditional credit cards.
They provide a high level of transparency. Many offer real-time documentation that details which driver made the purchase, where the purchase was made, odometer readings, sales tax information, and other essential data. It can simplify your accounting process, eliminating the need for loose receipts and providing a more accurate picture of how you’re spending your money. Most quality fuel card programs also offer automated IFTA reports, expense tracking, and other perks to help you manage your fleet.
Whether you’re an independent trucker or own a large fleet, you can use fuel cards’ convenience by joining one today. Many companies also offer other tools that can help you make more money and improve your efficiency on the road.