In small business, maintaining company cars is a struggle. Managing a fleet of business cars produces an undue administrative burden that most small business owners simply do not have the time to take care of on their own. Thankfully, you can make it easier to track company car use and manage employee reimbursements for gas with credit cards for gas. Gas only credit cards are one of the best finance tools you can use to simplify the financial aspects of using company cars. Learn how to find business credit cards for gas only in the post below.
First, you need to be practical in your search for the best gas station credit cards, just as you would for any other credit or debit cards. Consider what gas stations are present in the areas surrounding your business location. If your employees travel farther for business trips, research gas stations in those locations as well. Find out which gas stations have more locations in the areas your employees frequent. If your business credit card is only usable at a gas station that has just one location, it will make it more difficult for employees to get gas on company trips. That will serve to hurt business productivity. It will also negate the financial and operational advantages of using a gas credit card for company cars. Research gas station locations to make the best decision for your business.
Look For Discounts
Many gas station credit cards offer great discounts for cardholders. Obviously, this is something your business’s bottom line could greatly profit from. When you have several business cars, the cost of gas for business quickly adds up. The same can be said of the savings you get from credit cards for gas stations. Try to find those gas credit cards that offer the highest discounts on prices at the pump. These gas station discount credit cards will save your business a ton of money over time.
Think About Gas Prices
Business owners would also be wise to consider the price of gas at different gas stations before choosing which credit card to apply for. There are some gas stations that offer prices far lower than other top name gas stations. Costco gas, for example, is one such gas station known for their cheap gas prices. It may prove financially beneficial to apply for commercial gas credit cards at stations with low prices to start. That way, employees are sort of locked into heading to the nearest gas station with the lowest prices. If you want to save your business money and reduce company car gas expenses, apply for a gas only credit card at gas stations with low gas prices.
In order to find the best commercial credit card for gas, business owners should also consider what types of additional perks each card offers. Some gas station credit cards offer additional discounts to automotive stores. This will greatly reduce business fleet management costs. This is especially true if your company cars are on the older side and tend to require a lot of maintenance. Other commercial credit cards offer rewards programs for all different types of retail stores and services. Smart business owners can leverage these discounts to save a ton of money on business gas expenses and so much more. Be sure to look for these gas credit cards with rewards programs or additional discounts to get more bang for your buck when you reassess financial affairs for your company.
Business owners must also consider the obvious. Are there annual account fees associated with being a cardholder? Or, is the gas credit card APR too high to make the savings worth it? Look into the overall costs of each business credit card you are thinking of applying for, just as you would for any other international credit cards. You would be wise to steer clear of gas cards that charge annual fees. There are many gas station credit cards with no annual fees to choose from. From those no fee credit cards, then look to find the gas credit cards with the lowest APR. Doing so will save your business the most money on fleet maintenance costs. That is how you will know you found the best gas credit card for business.
Businesses spend a ton of money on maintaining company cars for employee use. Therefore, it only makes sense to get a gas credit card for business. It will help you save money, if you find the right card. Use the tips above to find the best credit cards for gas. Consider the gas stations local to your business, and find out which gas stations with credit cards have the lowest prices at the pump. Then, look for gas only credit cards with additional perks and benefits, like those that offer gas discounts or rewards programs, and low APR. Using these search strategies, you are sure to save your business a ton of money by applying for a company credit card for gas.