What is Fuel Card Services?
About Fuel Card Services
We are one of the UK’s largest independent fuel card companies, working with every major fuel brand. Whether you use diesel, petrol, or electric – we are always working hard to reduce your fuel bills. Plus, we have a range of fleet management services to cut your bills even more.
How do fuel cards make money?
Company fuel cards work by allowing drivers to pay for company fuel using the fuel card instead of cash or a credit or debit card. This enables companies to save money on fuel costs and reduce admin time required to process employees claiming back business fuel expenses.
Do you save money with fuel cards?
Buying cheaper petrol and diesel is the central strategy to saving your business money through fuel cards. By driving down the average cost per litre by a few pence can save thousands of pounds in the course of a year. Fuel cards facilitate a number of actions to help this happen.
Do fuel cards cost money?
It varies. Some fuel cards like AllStar come with various hidden fees that will all add up to extra costs for your business. From annual charges, network service fees to replacement card fees. Fuel cards can really rack up your business costs with every usage.
How does the fuel card work?
Put simply, fuel cards make the purchasing of fuel much easier. A fuelcard is an alternative payment solution that businesses give to their drivers, exclusively for purchasing fuel and motoring expenses. Unlike a credit card, there is no interest charged on payments.
What is the benefit of a fuel card?
A fuel card is an alternative payment method for drivers that allows you to track spend, limit usage and file expenses more efficiently. It can also help you manage your business vehicles’ fuel costs.
What are the benefits of having a fuel card?
So what are the benefits of fuel cards?
- A quick and convenient way to pay for fuel.
- Increased security and a safer alternative to carrying cash.
- Tighter control of business expenses.
- Streamline mundane admin processes.
- Increased flexibility for refuelling across a huge network.
Which fuel card is best?
WEX Fleet Cross Roads Card. Best for Gas Station and Truck Stop Coverage.
Are personal fuel cards worth it?
It makes expenses easier to manage
For businesses with multiple drivers, managing expenses can be a time-consuming task. When drivers use a fuel card, the fuel payments all come into one account, on a single invoice which makes clearing your fuel costs much simpler than reimbursing each driver for their fuel costs.
Why is fuel cheaper with a fuel card?
The biggest benefit of having a company fuel card are the savings that your business gets at the pumps when filling up. Many fuel card providers will notify you a week in advance about the fixed national cost per litre of fuel. This tends to be around 2-3p less than the standard asking price.
What is the benefit of fuel card?
A fuel card streamlines your business fuel administration. No more paper receipts, lost dockets, scanning and end of month reconciling – it’s all done for you. A single tax invoice and statement itemises the GST payable for all your fuel purchases, so you’re all ready for tax time.
Which fuel card is the best?
WEX Fleet Fuel Cards
WEX tops most lists of best national fleet fuel cards because of its extensive gas station coverage, as well as spending reports, and apps for drivers. It covers 95% of US gas stations.
What’s the benefit of a fuel card?
A fuel card is an alternative payment method for drivers that allows you to track spend, limit usage and file expenses more efficiently. It can also help you manage your business vehicles’ fuel costs. No matter how many vehicles you have in your fleet, there are many benefits to managing your costs with a fuel card.
How does a fuel card work?
Fuel Cards. Fuel cards work by allowing company individuals to fill up at petrol stations within our network. Instead of paying with cash or credit/debit cards, the company employee simply presents the card to the cashier. The company is billed directly and the employee can collect a receipt as proof of purchase.
Can I have a fuel card without a business?
There are a lot of preconceptions regarding fuel card eligibility, but the simple answer is that any business (large or small) can apply for a fuel card. Fuel card providers are more than willing to offer fuel cards to any business, including sole traders and those who are self-employed.
Does closing a credit card hurt your credit?
A credit card can be canceled without harming your credit score. To avoid damage to your credit score, paying down credit card balances first (not just the one you’re canceling) is key. Closing a charge card won’t affect your credit history (history is a factor in your overall credit score).
How does fuel card work?
Fuel cards work by enabling your drivers to fill up at fuel stations on the Fuelwise network. Instead of having to pay with cash or credit cards, your drivers use their fuel card. Your company is then invoiced for the transaction from the previous week and the payment is collected by Direct Debit.
Can I have a fuel card self-employed?
Supermarket fuel cards are ideal for self employed businesses as you can pop in and refill in between day to day business trips. Find your nearest petrol filling station.
Can you use a fuel card more than once a day?
Please note, if 2 or more visits occur within 10 minutes of each other both transaction will be amalgamated and will count as one qualifying visit. Redeeming rewards. Member benefits and rewards can be redeemed in up to 5 visits each day.
How many credit cards should one person have?
It’s generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.
Why did my credit score go down when I paid off my credit card?
Credit utilization — the portion of your credit limits that you are currently using — is a significant factor in credit scores. It is one reason your credit score could drop a little after you pay off debt, particularly if you close the account.
Can I get a fuel card without a business?
The simple answer is that fuel cards are for everyone. They’re a flexible way to save money on the cost of petrol and diesel, and they offer a hassle-free, quick and easy way to manage your fleet.
How much cheaper is fuel with a fuel card?
Discounted fuel
The biggest benefit of having a company fuel card are the savings that your business gets at the pumps when filling up. Many fuel card providers will notify you a week in advance about the fixed national cost per litre of fuel. This tends to be around 2-3p less than the standard asking price.
Can you buy food on fuel card?
Keep your drivers happy with a choice of high-quality amenities, groceries and refreshments available 24/7 at most of our sites. To make payment and accounting easier simply urge them to pay with an BP fuel card.
What is a 5 24 rule?
According to the Chase card 5/24 rule, if you’ve opened five credit cards in the past 24 months, you will likely not be eligible to open a new Chase credit card. Interestingly, this rule applies to any new credit cards on your credit report, even if they’re from another issuer like Citi or American Express.