Fuel is one of the biggest costs for any business that operates a fleet of vehicles and it’s a cost that keeps going up. Many businesses are looking at how they buy their fuel much more seriously because the benefit of getting fuel for less goes straight to the bottom line.
Fuel cards are the first place to start when looking to buy fuel smarter, to find out more please read this article and use our free comparison tables to find the best deals on the market.
How Do Fuel Cards Save Money?
Like with anything you buy for your business the more you buy the cheaper you should expect to get it. But different fuel cards work in different ways some fuel cards offer a discount on pump prices others offer a fixed price for your fuel no matter where you fill up (these are sometimes called ‘bunker cards’).
TrackCompare.co.uk is the only site which shows you the latest pricing for each card and the only independent fuel card comparison site on the web!
Which type of card is right for your business depends on many factors, if you are in an area where fuel is cheaper you may be better off having a pump discount card, if however you mainly fill up at high price locations a fixed price card will be better for you.
What Other Benefits Do They Offer?
Cheaper fuel is only one of the benefits of using fuel cards, they are usually more secure, give the opportunity to restrict purchases to fuel only and provide one VAT invoice for your whole fleet. So there is no need to collect receipts from drivers and you can be sure you can claim back all of the VAT you are owed.
But perhaps the most important benefit other than price is the credit period fuel cards offer on fuel purchases. Usually between two and four weeks credit is available on fuel purchases giving a much welcome cash flow boost.
Where Can I Use A Fuel Card?
Fuel cards provided by an oil company (BP, Shell etc) can usually only be used at their own filling stations, some can be used at other stations and are sometimes called ‘tri-cards’. Although this type of card often provides good coverage a premium is sometimes charged for using cards at other stations.
Non Oil Company cards such as Key Fuels, Diesel Direct and All Star can be used at most filling stations including some supermarkets. Coverage information for each card is displayed in our comparison tables.
Which Businesses Can Have Fuel Cards?
It is important to remember that petrol and diesel fuel cards are in essence credit cards for buying fuel. As such they require a credit check so there are some basic criteria such as 12 months trading and a good credit history.
Many fuel cards also have a minimum usage which is usually around 300 litres per month.
Do I Need To Commit To A Contract?
No, normally fuel card providers do not tie you in to using them for any fixed period of time or for spending any fixed amount. This is why it is important to keep checking that you are getting the best deal on your fuel. It is easy and free to change your cards and there is nothing to stop you from having more than one card if that works for your business!
Are There Any Other Costs I Need To Consider?
Most cards have no other costs to pay but some will charge an annual fee. This is usually negotiable and should never be more than £10 per card per year. We show you the annual fees for each card in our comparison tables.
Late payments will attract additional charges so like with any credit card make sure you settle your bill on time.
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