Fleet Cards: What They Are, Best Options for Small Businesses

Fleet cards (also called fuel cards) can earn 2 to 12 cents back on every gallon of gas. These cards are best for companies with multiple vehicles and lots of people filling up fuel tanks.

Traditional fuel cards, such as Wax, Fuelman and Shell, offer volume-based discounts. The more gallons you buy each month, the more you save. Others, like Coast and ATOB, may combine flat-rate fuel discounts with a set discount where you fill up.

Fleet cards also have tools to keep fraud and abuse at bay. Most let you track employee expenses, manage receipts and control purchases when used for each individual card.

Fleet cards are a type of business credit card designed for fuel and other vehicle expenses. Business owners can issue these credit cards to their employees, who use them to fill up their gas tanks. Owners can track and manage expenses across the fleet using the card’s built-in expense management platforms.

Fleet cards are also known as fuel cards. Most are Business Charge Cards That you must pay in full each billing cycle. But some, like the Wax Fleet Flex Card and the Shell Small Business Card, let you keep the balance.

You can apply for most fleet cards using just your EIN. They usually don’t require a credit check or personal guarantee.

Fleet cards generally work like business charge cards:

• Your team can use the card to fill up at the gas pump.

• The card issuer sends you a statement with all outstanding charges.

• You pay the balance in full by its due date.

Business owners and fleet managers can track and manage these costs. Most programs allow administrators to set limits by individual card and generate accounting and expense reports. Some fleet fuel cards also offer telematics tools that let you see the location and even fuel levels of each vehicle in your fleet in real time.

Some fuel cards can only be used on gas or diesel at certain chains of gas stations. Other related expenses, such as maintenance, car wash, toll and tire support.

Fleet cards also offer rebates per gallon on fuel purchases. The discount usually ranges from 2 to 8 cents depending on the card.

Fleet card usage depends on card issuer and partner network. Here are some examples:

Generally, you will need to run a registered business with multiple vehicles to qualify for a fleet card. You are expected to provide information about the EIN and business income, including several months of bank statements.

Beyond that, eligibility requirements vary. For example, ATOB does not carry out personal credit checks. There may be other card providers.

• Your business operates five or more vehicles. A flat card can be a great tool for saving money and managing expenses in your company.

• Employees are often on the road. If your team members usually fill up their own vehicles, a fleet card can save you the trouble of dealing with charges.

If none of these describe your company, there may be better options for you.

If you run a small business or mostly fill up your tank, consider a cash-back business credit card with gas rewards instead of a fleet card.

In general, credit cards can offer higher rewards rates — up to 3% back on gas depending on which card you have. You can issue this card to your employees. But reporting and expense control features are generally not as robust.

Also, most business credit cards let you carry a balance from month to month and are available to sole proprietors and non-profit businesses. But they require a credit check and a personal guarantee.

Like Fuel Cards, Corporate Cards let you monitor and control employee spending from a central dashboard. You’ll usually have to pay your balance in full by the statement due date, which may be daily.

The main difference: You can use a corporate card for virtually any expense, from travel to office supplies.

Some corporate cards can be used primarily as fleet cards. Rampfor example, markets its corporate card as a fleet card option. This card offers at least 1% cash back, plus sophisticated built-in spending management tools.

These are our top picks for fuel and fleet card programs.

Fees: For atob Flex, $15 per month for 5 cards plus $3 for each additional card. For ATOB Unlimited, $3 per active card for the month.

Rewards: Up to 12 cents per gallon at gas stations.

Gas Station Network: Anywhere MasterCard is accepted.

Fees: $4 per user per month.

Rewards: Up to 9 cents per gallon at gas stations and 29 cents per gallon at diesel. 1% cash back on all other spends.

Gas Station Network: Visa is accepted anywhere.

Fees: 2 cards per month for WEX Flat Flex Card.

Rewards: 3 to 15 cents per gallon.

Gas Station Network: Vax has its own network, which includes 45,000 stations across the country.

Fees: 39 per month for basic package..

Rewards: 8 cents per gallon, plus one per gallon you can redeem for other rewards.

Gas Station Network: Fuelman has its own network, which includes 40,000 stations across the country.

Rewards: Up to 6 cents per gallon.

Gas Station Network: Shell