Advantages of Using a Fuel Card for your Trucking Company
Updated: Mar 16, 2020
It is not unknown that there are a lot of operating costs when it comes to running a trucking company. So, it is important that you save money where ever possible. A great way to save money is on your fuel expenses, and the best way to do that is with a fuel card. A fuel card allows you to generate those savings without losing out, along with a number of different benefits. Not sure about all the best benefits that fuel cards offer? Here are the top advantages of getting a fuel card for your trucking company:
Discounts on Fuel
Having the right fuel card for your fleet means that you will never pay full price for your truck's fuel again. You can potentially save thousands of dollars on fuel over the course of the year by the few cents per gallon discounts that fuel cards offer. There are a variety of different fuel cards that offer different options, so finding the best one for you will require some looking around. Some factoring companies will offer a fuel card when you sign on - one of the big benefits of factoring with us at Porter.
Lines of Credit
The best fuel cards in the industry will offer your fleet a healthy line of credit that gets renewed weekly, per driver, and will have prepaid options as well. When deciding on what fuel card to go with, find one with a high enough credit level for each driver in your fleet, to avoid exhausting your credit in the middle of the week.
More Control Over Spending
Most fuel cards allow you to control your fleets spending. Spending can be monitored so that you can see your driver's transnational activity and allow you to restrict how the card can be used. It makes it extremely hard for a driver to use the fuel card for fraudulent activity with the money on the fuel card as it can only be used to purchase fuel. With this amount of control, you can control your companies' costs - something any business owner benefits from.
No Out-of-Pocket Expenses for Your Drivers
Truck drivers benefits greatly from fuel cards. They will never incur the cost and therefore, will never pay out their pocket for fuel. They also won't need to handle receipts or chase anyone to be reimbursed. This helps drivers feel more secure as they know they will always be able to get fuel if there is money on their card and they don't necessarily need to carry around extra cash for fuel expenses.
The more flexible your fuel card is, the better. Most fuel cards also offer other discounts, like discounts on tires, repairs or lodging. The best fuel cards will also track your IFTA reporting too. Basically, the more flexible your fuel card is, the more places you can use it, and the more money you can save for your trucking company. It's a win-win-win.
If you don't already reap these benefits, now is the time to change that. Porter Billing Services offers fuel cards with our factoring services, plus a lot more - take a look for yourself.