Gas Cards

Gasoline is one of the largest expenses for businesses in the U.S and many businesses urgently need to reduce their expenditure in this area, to aid their cash flow. Gas companies know this and so there are a wide variety of ‘gas cards’ to choose from, with varying deals, all with the aim of saving your fleet money.

Gas cards work like credit cards, when no cash is exchanged and gasoline is bought by card. Gas credit cards offer money back on purchases of fuel, so they are not only convenient but could also save you money. They are great in emergencies; if gas needs to be bought but the individual does not have enough cash, the card can be used quickly and efficiently. Many employees and fleet managers find them extremely useful because they significantly reduce administration and the need to retain purchase receipts which are to be submitted with expenses forms. The gas card company usually has a website that can be logged on to so you can check your account as well as, with many suppliers, conveniently pay your bill online. Payment terms are usually monthly.

Credit card providers are now offering gas specific cards also. If you have good credit then this should make applying for a gas credit card quicker and easier. Be aware that if you do not have a good credit rating then a yearly fee may apply and this will negate some of the savings that you would make.

Of course, other problems with gas credit cards are that employees could spend a lot of money on fuel, probably a lot more than if the employee was paying out of their own pocket in cash. Gas credit card suppliers are aware of this and, if you purchase one with an online facility, you may be able to impose limits on their use such as limiting the amount of fuel that can be purchased in one transaction. Probably the best tool with an online gas credit card facility is the ability to analyze your employee’s purchases. Patterns will become apparent and, if you discover an employee abusing the system, you will have evidence to support whatever decision you take in order to tackle it. Gas cards are just as big a financial decision as getting normal credit cards for your employees. Careful budgeting is the key to making sure that having gas cards actually saves you money.

In order to aid their ability to budget, a lot of companies prefer pre-paid gas cards. They are an effective way to restrict the amount that you pay monthly on gas. Prepaid gas cards generally include the same benefits that the gas credit cards offer, in terms of savings and money back offers. A problem people have encountered, especially with prepaid gas cards & free gas cards, is that scammers imitate the cards, resulting in you losing money and still having to pay for the gas you have put in your vehicle. The reason why prepaid gas cards are easier to do this with is because they can be bought from a range of places, and as gifts, whereas gas credit cards are more likely to be issued through different channels like through banks or gasoline providers.

Using a gas card comparison website such as TrackCompare.com will help you to protect yourself from scammers, as each supplier is verified as legal and legitimate, offering you total peace of mind.