You run a business that heavily relies on vehicles for moving goods from one place to another. Also, you could be having a large company that offers particular services to many clients across your country. Indeed, you need a surefire way to track fuel expenses since you have so many vehicles operating in various locations.
See, you can use fleet fueling cards. This card helps track expenses on fuel expenses and other services, such as vehicle repairs. However, to get the most out of your card, you need to find the best one. You will, therefore, be required to know a few things when making your choice. Here are the key things you should enquire from the card provider before committing to its use.
The vendors you can use
You must know the vendors that can accept your card. It is good to the exact points where your drivers can get fuel and even have their vehicle serviced while using the card. This is because some of the cards have limitations on the location of use.
Also, you can make sure the vendors that you can use are along your routes. If they cannot offer the required services using that card, then you do not require it. The best card covers all your expenses in your route.
The fees structure
All cards do not have the same fee structures. It is always good to know any interest rates attached to the card you intend to possess. Some will even have zero monthly fees. Others will give waivers, especially when you purchase a certain amount of fuel at the specified stations.
However, some will have a flat fee every month. And if you could get discounts, that would be good for your business. For instance, you can get a card that can get you volume0-based discounts in order to leverage it since it can save you money.
You need to clearly know the payment terms for your fleet card. How often is it paid? Is it on a monthly basis? You must this clearly before you opt for any card. If you are to cater to the relevant expenses of the card in two weeks’ time, it is recommended that you find out before you get down to operating with that particular card.
You should not settle for any card without asking about the payment terms. If you do, then you may have trouble when they ask for their dues in a week’s time. Note that this must be considered before settling for any fuel card.
You have explored what you should enquire from the card provider right before you commit to it. These aspects are meant to help you find the card that is convenient for you and your business at large. You should not go for a card that seemingly will place a financial burden on your small business. Consider the payment terms, the fee structures, and the vendors you can work with.