Skip to navigation

Skip to main content

Buying Guides

Incisive Business Guide to Fuel Cards

Fuel Card Guide Summary

This guide from Incisive Business outlines the features and benefits for your business from using fuel cards.

Fuel cards are similar to business credit cards and work in the same way. The best fuel card for you will be the one that has the right combination of network coverage and fuel price.

There are numerous fuel card companies so take time to consider which one is right for your business. You should think about your fleet, how it operates and what you need from a fuel card company before you are in a position to find your ideal fuel card solution.

What you pay for the fuel is important but it won't be the only consideration in making your decision. The fuel card you decide on should be easy to use, provide a convenient way of controlling and monitoring all your company fuel costs as well as giving your drivers the most convenient way of getting the fuel they need.

What are the benefits to your business from using fuel cards?

  • Improved cash flow - you pay for fuel purchases at the end of the month
  • Your employees don't have to carry large amounts of cash
  • You can set limits and permissions for fuel card usage
  • You can easily monitor who's buying fuel, where and when
  • Reduced administration time as all your purchases will be on one statement not as scruffy receipts

What are fuel cards?

Fuel cards are similar to business credit cards and work in the same way. You and your employees can use the fuel card to purchase petrol, diesel and other items from any petrol station displaying your chosen fuel card logo. Meaning your employees don't have to carry large amounts of cash to pay for fuel and in turn you pay for purchases at the end of the month thereby helping your cash flow.

You can decide what the fuel card can be used to buy and the fuel card can then only be used to purchase these items; for example petrol, diesel, lubricants, antifreeze etc .The cards can be either given to an employee or used with a specific vehicle.

You receive a detailed statement showing the amount of fuel purchased, where and when the fuel was bought and this allows you to keep a close watch on your company fuel consumption. The detailed payment invoices are provided in a format that has been approved by the VAT office and will save you considerable administration time as you no longer have to go through each individual receipt.

How do I know which fuel card company to use?

There are numerous fuel card companies on the market and the facilities they offer vary from card to card.

The best fuel card for you will be the one that has the right combination of network coverage and fuel price. Don't save 1p a litre only to find no petrol station near you accept the card!

The first thing you need to consider is what you actually need from a card. Look at the way your vehicle fleet operates; do you have one or more depots? Does your fleet work locally, nationally or internationally? Do you simply have petrol or diesel vehicles, or do you have a mixture? You might have a preferred local petrol station or stations that you use regularly so what brand are they? What service station facilities do you require, e.g. high canopies for HGV.

When you have gathered this information you will be much better placed to make an informed decision about the type of fuel cards you need.

One of the key questions a fuel card company will ask is what is the amount of fuel you use every month? So it is worth monitoring an average week to get a good idea of the quantity.

here

Download full guide as a PDF

main image 2

Follow us now

You can follow us on the following sites

How it works

  • Choose a category
    Choose the product or service from the list that you'd like quotes for
  • Fill out a quick easy form
    Enter your requirements to gain access to your quotes
  • Receive your FREE quotes
    We'll put you in touch with up to 5 companies matching your requirements

Buyers guides

We provide a selection of guides to relevant business products and services; together with tips to help you get relevant quotes and to make an informed decision.

Login

Enter Your Login Details