Difference between A Fleet Card and Gas Card

Credit card usage has become a way of life for almost everyone. Amongst the plethora of cards we carry in our wallets, a gas card takes one of the top slots - and rightfully so. If used wisely a gas card can offer a sizable saving. One type of card that is growing in popularity is a fleet card. A fleet card is widely used by business owners and managers who pass it on to their drivers to pay for fuel and maintenance work.

Gas cards are a great way to pay for fuel expenses; however, there are a few drawbacks you need to bear in mind. Interest rates on gas cards are typically higher than a regular credit card and so it is imperative that you pay off the balance on time to benefit from the potential savings offered. It is also the card holders' responsibility to keep track of rising interest rates as most credit card companies are free to make changes.

In addition to the ease of payment a gas card offers, fleet cards also provide a range of useful features for management. These include setting limits on the number of daily transactions and fuel expenses, blocking suspected fraudulent activity, tracking fuel economy and the availability of real time transaction reports. What does this mean? Business owners can control exactly where their drivers are fueling up or seeking maintenance, how much they are spending and what they are spending it on with complete confidence only pre-approved transactions will be accepted.

Since fleet cards essentially eliminate the need for cash reimbursement and unauthorized purchases, they also provide administrative relief freeing up time for managers to concentrate on other areas of their business. Lastly, unlike gas cards, fleet cards can be customized to a select network of fueling stations or maintenance workshops where their cards can be used, so regardless of business size or coverage area a fleet card can be built to suit your needs.