Fleet Cards: What They Are, Best Options for Small Businesses

Fleet cards (also called fuel cards) can earn businesses 2 to 12 cents back on every gallon of gas. These cards are best for companies with several vehicles and lots of people who fill up fuel tanks.

Traditional fuel cards, like WEX, Fuelman and Shell, offer volume-based discounts. The more gallons you buy each month, the more you save. Others, like Coast and AtoB, may pair flat-rate fuel discounts with a set rebate based on where you fill up.

Fleet cards also have tools to keep fraud and misuse in check. Most let you track employee spending, manage receipts and control purchases down to when, where and on what each individual card is used for.

Fleet cards are a type of business credit card designed for fuel and other vehicle expenses. Business owners can issue these credit cards to their employees, who use them to fill up their gas tanks. Owners can track and manage spending across the fleet using cards’ built-in expense management platforms.

Fleet cards are also called fuel cards. Most are business charge cards that you have to pay in full each billing cycle. But some, like the WEX Fleet FlexCard and the Shell Small Business Card, let you carry a balance.

You can apply for most fleet cards using just your EIN. They typically don’t require a credit check or personal guarantee.

Fleet cards generally work like business charge cards:

• Your team can use the card to fill up at the gas pump. 

• The card issuer sends you a statement with all outstanding charges. 

• You pay down that entire balance by its due date. 

Business owners and fleet managers can track and manage this spending. Most programs allow administrators to set limits by individual card and generate accounting and expense reports. Some fleet fuel cards also offer telemetrics tools that let you see the location, and even the fuel level, of each vehicle in your fleet in real time.

Some fuel cards can only be used on gas or diesel at specific chains of gas stations. Others support related expenses, like maintenance, car washes, tolls and tires.

Fleet cards also offer per-gallon rebates on fuel purchases. The discount generally ranges from 2 to 8 cents off per gallon, depending on the card.

Fleet card usage depends on the card’s issuer and partner network. Here are some examples:

In general, you’ll need to operate a registered business with several vehicles to qualify for a fleet card. Expect to provide your EIN and information about business revenue, including several months of bank statements.

Beyond that, eligibility requirements vary. For instance, AtoB does not do a personal credit check. Other card providers may.

• Your business operates five or more vehicles. A fleet card can be a great tool to save money and manage expenses across your company.

• Employees are often on the road. If your team members usually fill up their own vehicles, a fleet card can save you the trouble of dealing with reimbursements.

If either of those doesn’t describe your company, there may be better options for you.

If you operate a smaller business or mostly fill up your own tank, consider a cash-back business credit card with rewards on gas instead of a fleet card.

In general, credit cards can offer a higher reward rate — up to 3% back on gas depending on which card you have. You can issue these cards to your employees. But the reporting and spending control features typically aren’t as robust.

Also, most business credit cards let you carry a balance from month to month and are available to sole proprietors and unincorporated businesses. But they do require a credit check and personal guarantee.

Like fuel cards, corporate cards let you monitor and control employee spending from a central dashboard. You’ll generally have to pay down your balance in full by the statement due date, which may be as often as daily.

The primary difference: You can use corporate cards for virtually any expense, from travel to restaurants to office supplies.

Some corporate cards can be used essentially as fleet cards. Ramp, for instance, markets its corporate card as a fleet card option. That card offers at least 1% cash back on all spending, plus sophisticated built-in spend management tools.

These are our top picks for fuel and fleet card programs.

Fees: For AtoB Flex, $15 per month for up to 5 cards plus $3 for each additional card. For AtoB Unlimited, $3 per active card for month.

Rewards: Up to 12 cents per gallon at gas stations.

Gas station network: Anywhere that Mastercard is accepted.

Fees: $4 per user per month.

Rewards: Up to 9 cents per gallon at gas stations and up to 29 cents per gallon on diesel. 1% cash back on all other spending.

Gas station network: Anywhere Visa is accepted.

Fees: $2 per card per month for the WEX Fleet FlexCard.

Rewards: 3 to 15 cents per gallon.

Gas station network: WEX has its own network, which includes 45,000 stations nationwide.

Fees: $39 per month for the Basic package..

Rewards: 8 cents per gallon, plus one point per gallon that you can redeem for other rewards.

Gas station network: Fuelman has its own network, which includes 40,000 stations nationwide.

Rewards: Up to 6 cents per gallon.

Gas station network: Shell.