Fuel cards are usually credit cards like but they are used only to pay for gas and other car expenses Fuels cards are widely used around in the world. These fuel cards are used in the payment of gasoline, diesel and other fuels at the gas stations. A fuel card is convenient for the owner as they show a comprehensive detail or report which accompanies their use. This fuel card helps its owners to receive real-time reports and set purchasing control.
Speedway fuel cards offer the consumer the best services. They offer the consumer a credit card without the security issues.
Origins of the fuel cards
The origin of these fuel cards can be traced to the United Kingdom. In the beginning, these fuel cards were usually printed with the vehicle registration, company name and a signature strip on the rear of this card. The fueling station would usually check the registration number the company name and the signature at the back to be sure that it is genuine and only when all these three meets the requirement then would the site approve access to the fuel. In the initial stages, these cards were used only for trucks roads and main haulage routes. In 1989 there were about only seven key fuel stations. In the initial stages, these fuel cards targeted only delivery companies
In the mid-80s the magnetic strip was introduced, and this led to the use of pin which is encoded in the cards. This new security system was far better and safer, and they would decrease the chances of misuse of the fuel card
Do fuel cards save money?
The answer to this question is yes fuel card does save money. When used these fuel cards effectively help save the businesses a lot of money. There is also the popular fleet fuel card which helps drivers buy fuel for company cars.
Benefits of fuels cards
Discounts on the fuel
Fuel prices are always on the rise be it weekly, monthly or annually fuel prices are not stable; therefore, getting a fuel card is advisable, a fuel card would help you get discounts on the fuel. If you get an offer for a fixed weekly price, this will not affect the card user if there is a rise in price on the particular week and if there is a discount in prices there would automatically be a refund of the money on the card. So, you’re saving a lot of money especially if your fleet is large.
Less administrative burden
There’s more than just fuel discount with your fuel cards you get to trace what your staff has been spending on fuels. All fuel costs for seven days are collected into a single invoice.
Tracking mileage and fuel usage
Another way the fuel cards are useful because they help track the fleet, the fuel cards will trace the places they’ve driven to which stop they stopped at and how much mileage they’ve used.
Getting a fuel card is useful because it helps the owner in a lot of ways these cards are easily available and the individual can apply by visiting the nearest branch of the bank from where they can avail the fuel cards or they can also avail it online.