9 Best Fuel Cards For Truck Owners In 2023
Fuel cards are payment cards that can help you get discounts on your petrol or diesel purchases from a network of fuel stations. They are gaining popularity in recent years and are now synonymously known as savings cards. Why?
- Firstly, because fuel prices are constantly going up.
- Secondly, no trucking business can survive without proper fuel management plans.
When a huge chunk of your budget, regardless of the size of your fleet, goes into fuel purchases, you need to optimally use it to increase your profit margin. One way is to go for a fuel card from a reputable company with a strong network of fuel stations.
Matrack as a comprehensive Fleet Management Solution provider offers a premium Fuel Card service for all our clients. In this article, we have compiled a list of fuel cards, including ours, to give you a broader bunch of options from you to choose from.
- What Are Fuel Cards?
- Things to Consider Before Choosing A Fuel Card Vendor
- How Do Trucking Fuel Cards Work?
- Benefits Of A Fuel Card For Your Trucking Business
- Significant Fuel Savings
- Convenient For Drivers
- Saves Yourself From Frauds And Thefts
- Better Control
- Automated IFTA Reports
- Additional Services
- Matrack Fuel Card
- Wex Fleet Card
- Fuelman Fuel Card
- EFS Fuel Card
- Shell Fleet Navigator Card
- Exxon Mobile Business Fleet Card
- BP Business Solution Mastercard
- Comdata Fleet Card
- Pilot Fleet Card
- RTS Fuel Card
What Are Fuel Cards?
Fuel cards are the tool that any truck owner needs to maintain a cash flow. These cards function like a credit card, where you can make the necessary fuel purchase through the card, and get 60-90 extra days to come up with the cash to repay the bill. From owner-operators and small fleets, a fuel card is the means to keep the business afloat.
Based on price point, fuel cards are categorized into :
- Fixed price fuel cards
- Pump price fuel cards
In Fixed price fuel cards, the fuel rate is determined for the whole week. And you are informed a week ahead. So if you expect a rise in fuel prices in the upcoming days, you can refill at lower prices.
On the other hand, with Pump price fuel cards, you will be charged according to the price displayed on the pump. One of the primary benefits of it- it is widely expected by major fueling stations.
You can use the fuel cards to pay for fuel while fueling at fuel stations. It is the best alternative to cash, credit, or debit cards as it allows you to purchase petrol or diesel under the current fuel cost.
Apart from fuels, few companies also allow you to buy additional items such as toll payments or similar expenses like lubricants, car washes, etc.
Fuel cards are the best way to monitor and control the fuel consumption in your fleet. It allows you to streamline several related operations such as tracking fuel purchases in real-time, setting spending limits, auditing expenses, automated IFTA reports, etc.
Fuel cards are beneficial for everyone regardless of fleet size. Whether you are an owner-operator, individual truck driver, or fleet manager of 1000 vehicles, you can use fuel cards to boost your profits.
In simple words, if you are looking forward to saving money on fuel expenses, choosing a fuel card is just right for you.
Things to Consider Before Choosing A Fuel Card Vendor
While a fuel card is the best way to optimize the fuel expenses in your fleet, do you know some fuel stations may not accept your fuel card? And not all the fuel card companies give you uniform discounts. It widely depends on the agreement between them and the fueling location.
Because of this, it becomes significant for you to choose the best fuel card for your business. You have to consider different factors such as fleet size, location, type of vehicle, and others while looking for an ideal fuel card for your business.
Let us take a look at them one by one:
You need to know where you can use a fuel card. As already mentioned above, some fuel cards will only work in a particular region or at certain fuel stations.
If you are a local or small feet operator that runs in a particular area choosing a branded or fleet fuel card with a limited operating territory can be a cost-effective choice.
On the other hand, if you are a fleet manager of a large and nationwide operating fleet, a more universally accepted card with higher fees would be an ideal choice.
The second thing you need to consider while choosing a fuel card for your fleet is discounts.
Fuel card providers offer you different types of discounts. We can broadly categorize them into two parts: point-of-sale and rebate model.
Point-of-sale discounts reduced the fuel cost at the time of purchase. The company immediately provides the amount to the fuel card company, which reverts it to the fuel station.
On the other hand, in the rebate model, the fleet receives the fuel receipts for the total amount of fuel purchased at the end of the month.
One of the biggest benefits of a fuel card is better to control. They give you the power to control the card users, impose purchase limits, and reduce the overall potential of internal fraud. And therefore, you have to look for a fuel card provider that provides you advanced control over the fuel cards of your fleet.
An ideal fuel card would help you to monitor and optimize fuel expenses.
You should look for a fuel car provider that integrates with the robust fleet management software to provide you with a clear and well-rounded picture of your fleet and assets. It should include price per gallon, location, driver, odometer reading, etc. You can use these data to optimize calculations such as cost per mile, asset utilization, fuel economy, and so on.
How Do Trucking Fuel Cards Work?
Fuel cars are similar to credit or debit cards, but you can only use them for fuel purchases or trucking-related products and services.
It is simple to use a fuel card for fuel purchases. At the fuel pump:- you need to swipe the card, follow the instructions, fill the fuel tank, and take the receipts with you.
Depending on the company and fuel card you choose, you will be charged accordingly.
For example, some merchants offer point-of-sale, while others provide a rebate model.
Some rebate models may look confusing and not beneficial, but both methods are equally effective.
Benefits Of A Fuel Card For Your Trucking Business
Fuel cards are an excellent way for tracking companies to optimize their fuel consumption and enjoy other related services. Here are some main benefits of fuel cards:
Significant Fuel Savings
Fuel is one of the biggest operational costs of a trucking business irrelevant of its size. Every year they have to spend a large sum of their profit on fuel purchases.
A fuel card can help you buy petrol or diesel from a range of fuel stations at a discounted price. It can help you save a few cents of every gallon-which becomes a thousand dollars saving everywhere.
Convenient For Drivers
Fuel cards are an easy and convenient way to complete fuel transactions. It cut down chaos or the risk of carrying colossal cash or credit cards.
Every day, a truck driver has to go through the hassle of withdrawing cash to pay for fuel bills and then wait in line for receipts. Time is precious, but unfortunately, drivers have to spend hours on fuel purchases every day. Another difficulty is keeping receipts safe to submit later.
A fuel card can help you save your and your drivers time by eliminating the above process. A driver can stop by the fuel station, complete the transaction from the fuel card and proceed with their journey. On the other hand, relevant data related to fuel purchases are automatically recorded in the cloud storage.
Saves Yourself From Frauds And Thefts
It is a hundred times safer to carry a fuel card on your journey rather than cash or credit cards. It can minimize the chances of theft and assaults.
Additionally, you can set limits on fuel purchases for each driver and thus, help you to protect the business from fraudulent fuel transactions.
Fuel cards provide you with better control over your fleet and employees. Several fuel card companies allow setting limits on fuel purchases, transaction limits, and even limits on regional usage. You can avoid unnecessary and unauthorized fuel consumption.
Automated IFTA Reports
Fuel cards automatically track and generate automated IFTA tax reports for you. You can download them via your online account and submit them for IFTA tax auditing.
Apart from fuel discounts, several fuel cards also provide additional services. For example, you can use them to pay for several related expenses such as repair, maintenance, lodging, boarding, etc.
9 Best Fuel Cards For Truck Owners
Disclaimer: The purpose of this article is to LIST the best products in the market, and not to review or rank them. All the products listed here have several unique features catering to a wide range of customer requirements.
Matrack Fuel Card
A Matrack fuel card is the best way to save money on fuel purchases and control your fuel expenses. This card offers you considerable discounts and cashback on fuels. You can also use this card to get discounts on maintenance, lodging, and boarding, many more.
It is accepted by more than 230000 places, including fuel stations, truck stops, and convenience stores, so you can stop to refuel anywhere you want in the country.
One of the best features of this card is that you will not have to incur any hidden fees. Also, you will get a flexible cash flow guarantee with 60 days of repayment. During this period, the company will not charge any interest. You can also claim a 1.5% discount for early payment.
You can also choose- a long repayment option without additional cost to get more time for repayment.
The card allows you to have better control over the fuel purchases in your fleet.
You can set spending limits to restrict drivers from purchasing excess fuel. All the transactions are listed online, so you don’t have to worry about collecting fuel recipes. You can view the comprehensive report and make better decisions.
Some of the notable features of the Matrack fuel card are:
- Purchase control
- High spending limit
- Economical and competitive fuel price
- Interest-free grace period
- Fraud alerts
- Fuel tax refund
- IFTA tax reports
- And many more.
You can integrate the fuel card with the Matrack fleet management system to save up to 10 to 15% per year on fuel expenses.
Wex Fleet Card
At a glance
- Accepted by 95% of US fuel stations.
- It is valid at over 45,000 service locations.
- Automatic accounting
- Detailed and custom reports
- Advanced spending controls
- Exclusive discounts on fuel, tires, hotels, and many more.
The WEX Fleet Card is the fastest way to grow your business with huge savings. It helps you automate fuel expense tracking, set employee pending controls, purchase alerts, and many other benefits.
The best part of this fuel card is that it is accepted at 95% of the US fuel stations, so you won’t have to worry about looking for the exact fuel stations to refill the tank.
The WEX fleet cards can give you better security and control over each transaction. Additionally, it can provide you with accurate and automated accounting reports, so you don’t have to waste your time on documentation.
Some of the key highlights of this fleet card are: accepted by all major fuel stations and 45,000 service locations, accurate accounting, advance spending controls, exclusive discounts, etc.
Fuelman Fuel Card
At a glance
- Cost controls
- Reporting and tracking
- Maintenance manager
- Fuel rebates
- Real-time alerts
Fuelman fuel card is a smart choice for you as it provides flexibility, freedom, and maximum control over your business. It can help you to avoid fraud and misuse with customizable fuel controls.
It allows you to get fuel rebates at several gas stations across the USA. It offers a maintenance manager to help you track, schedule, approve and pay for maintenance.
The company has the best offers for you according to your business. So whether you are a small trucking business operator or a big fleet manager, you need to check out this one.
EFS Fuel Card
At a glance
- Accepted at 12,000+ truck stops across America
- Superior authorization and fraud prevention tools
- Real-time online account
- Fuel tax report
- Up to 15 cents savings per gallon.
If you are a small business operator that works in a specific location in the country, you can choose this fuel card. While it does not provide national coverage like its competitors, it offers something that makes it worthy of being considered. It can help you save at least 15 cents per gallon from more than 2200 EDGE Discount stores.
Additionally, it does not have any monthly charges or transaction fees on the fuel purchases.
Shell Fleet Navigator Card
At a glance
- Accepted by more than 95% of fueling stations
- Earn rebates up to 5 cents per gallon
- Full control over spendings
- Cancel lost or stolen cards in real-time
Shell Fleet Navigator card offers coverage for over 95% of the USA fueling stations. It covers almost every state of the USA, so you can operate your business without convenience. It offers you rebates up to 6 cents per gallon. But if you buy a higher volume of fuel, you can increase your savings.
It can help you to set controls on the fuel transaction. So you can set limits on who, when, and how many purchases are made in your fleet. It also helps you avoid misuse and reduce the risk of fraud by providing individual driver IDs and purchase controls. If there are lost or stolen cards, you can cancel them in real-time.
Exxon Mobile Business Fleet Card
At a glance
- Accepted at over 12,000 Exxon and Mobil stations.
- Valid at 700+ commercial fueling stations
- Save up to 1-6 cents per gallon
Another promising fuel card on our list is the Exxon Mobile business fleet card. It is accepted by more than 95% of gas stations nationwide, so your drivers will not struggle to refill the fuel. And hence it will reduce vehicle idling by a considerable amount.
Whether you want premium or regular gas at a commercial diesel location or a convenience store, you can choose any as the fuel card is accepted by 1200 stations and 700 + commercial fueling stations. You can save up to 1 to 6 cents per gallon. But it can exceed as the amount of fuel is increased.
BP Business Solution Mastercard
At a glance
- Save up to 6 cents with volume-based rebates
- Create and organize reports
- Monitor after-hours purchases and daily transaction
- Fuel at anywhere where Mastercard is accepted
BP Business Solution Mastercard is a perfect option for medium to large fleets. You can use this fuel card at almost any fuel station that accepts Mastercard payment.
It comes with a $10 monthly fee, but you can waive it by buying more than 5,000 gallons of fuel per month. You can also use your cards to enjoy discounts on maintenance services too.
It can help you earn up to 6 cents per gallon, but you can increase it by buying a higher volume of fuels.
Comdata Fleet Card
At a glance
- $0 card transaction fees
- Accepted at over 15,000 locations national
- Savings up to 65% on tires and retreads at over 3,000 locations
- Additional cash prices at different fueling stations
Comdata fleet card offers you fuel rebates, expense management, compliance, and many more in one place. Whether you are a truck driver or a fleet manager of a hundred vehicles, the company tries to make things easier.
Some of its notable features are $0 transaction fees, additional discounts on different locations, nationwide acceptance at over 15000 locations, 24/7 driver support and online account management, etc. The Comdata fleet card helps you get around 65% off on tires and retreads at over 3,000 locations.
Pilot Fleet Card
At a glance
- Accepted at Pilot, Flying J, and One9 fuel stops.
- Win up to 3% cashback
- Additional loyalty programs discount
- Maintain cash flow in your business with the factoring solution
The pilot fleet card, also known as the Axle fleet card, is different from its competitors. It doesn’t offer you direct savings on each gallon of gas but provides you 3% of cashback. Apart from it, you can also receive extensive loyalty programs at some fuel stations.
You can also get discounts on maintenance, lodging, document scanning, tax services, etc. It is accepted by more than 2000 stations, including Pilot Flying J, Sapp Bros, Casey’s, etc. There is no issue with the contract or any yearly card fees.
RTS Fuel Card
At a glance
- Save an average of 25 cents per gallon
- Accepted by more than 2000 fueling stations
- No annual fees or contracts
- Integrated RTS Pro mobile app
Do you want to save more than thousands of dollars per year? If yes, then here is a perfect fuel card for you- an RTS fuel card. It claims to help you save 25 cents per gallon at over 2,000 fuel stations.
You can also maintain cash flow and keep your business moving with the help of factoring solutions along with RTS financial help. You can enjoy back-office support, different financial tools, and fuel bundles.
Fuel cards are a smart way to optimize and control your fuel expenses. When fuel prices are constantly rising, take a wise decision by choosing the best fuel card vendor for your fleet.