An employee fuel card is a credit card that businesses provide to their drivers and other business personnel to use primarily for fuel and other authorized purchases related to company cars. Employee fuel cards allow the issuer to bill the business directly, rather than billing the employee. Otherwise, the employee would have to file expense reports and be reimbursed later. The fuel card issuer typically sends the business a single bill, itemized with individual charges by each employee.
Employee fuel cards, also known as fleet cards, are issued by major gas-station chains through a bank such as Citibank or Synchrony Bank. They can typically be used only at affiliated gas stations and at merchants owned, operated, or franchised by the gas-station chain.
Key Things to Know About Employee Fuel Cards
They save companies money on routine purchases.
Employee fuel cards often come with fuel discounts or other rewards. For companies with large fleets, that could amount to substantial savings on routine purchases that employees would be making anyway.
They help track employee spending.
With employee fuel cards, business owners can track and manage all purchases employees make on the road. Employee fuel cards also allow you to create customized reports across multiple vehicles and drivers. These features save you the time and paperwork that come with manually tracking fuel and other purchases for several employees.
You can customize card settings for each employee.
Most employee fuel cards will allow you to set limits for individual employees. This could include the most an employee can spend, along with the types of purchases they are allowed to make. Some cards may let you set up alerts that immediately notify you of possible fraud or abuse on a specific account, too.
Not everyone can get an employee fuel card.
Employee fuel cards are for businesses only, meaning that individual consumers are not eligible to apply. They’re designed for business owners who manage fleets of company vehicles and are hardly an attractive option for a single cardholder anyway. That said, there are several top-notch gas cards with fuel discounts and rewards that are available to individual cardholders.
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