Many people think fleet fuel cards and credit cards are the same thing. While they both give fleet managers a way to organize their budget and make filling up easier for their drivers, there are some differences:
Balances and Interest Rates
Credit cards give you the option to pay off your balance over time (otherwise known as a “rolling balance”). With many fleet fuel cards, however, you must pay the full balance at the end of each week or month. Credit cards also charge you an interest rate for each of your purchases, whereas with a fleet fuel card, you don’t need to worry about an interest rate. The amount that is charged to the card is the amount you’ll have to pay.
When you’re trying to keep your budget in order, fuel cards let you set purchasing restrictions and spending limits so that your drivers only buy the things you approve of and can never go over their spending limit. Many credit cards, however, don’t allow you to limit what you can buy.
If you want to know the details of each purchase your drivers make, a fleet fuel card is a good idea. With fuel cards from Fuel Express, you can track the time, date, and location of every purchase through an online account. Click here to learn more.