Introduction
There is no doubt that fuel cards can be of great help to the efficiency of a fleet. However, business owners who are hearing about a fuel card for the first time might not know how to get a fuel card. If anything, they may not even know that they are eligible .thankfully that is the subject of discussion of this post. In this article, we go gung-ho about fuel cards UK businesses may want and take you through the application process in a detailed manner. Read on to learn more.
Who is eligible to apply for a fuel card?
When it comes to eligibility for a fuel card, a lot of misconceptions have rented the air for quite some time. However, the straightforward answer is that virtually anybody is eligible to apply and get a fuel card. Whether your business has only one van or it is a grounded venture with hundreds of vehicles, there are lots of benefits that lie in wait for signing up to a good fuel card provider.
Fuel card companies are ever willing to provide any business with a fuel card. This even includes sole traders and the self-employed. However, most providers require that you be spending at least £500 per month to qualify for an application for a fuel card.
Because businesses vary a lot in terms of sizes and types, fuel card companies have to deliver a variety of card options to meet diverse needs. When choosing a fuel card, some of the things you need to take into account include the geographical locations of routes your vehicles cover, miles that the driver covers, an existing network of fuel stations.
But you cannot use fuel cards for private use, the reason being that one of the conditions you have to meet before registering for a fuel card is to have a company.
Application process
A vital point when you want to apply for a fuel card is to understand the process of application and the steps you need to follow. Below is a quick rundown of the application process for a fuel card for businesses.
Start by doing research to determine the fuel cards that benefit your business the most. You can do this by calling a fuel card provider or even using a comparison tool that can be found online for free.
Next up, apply for any of the top fuel cards UK over the phone or online. This depends on the provider of the fuel card.
The process of application involves a standard and basic credit checking process.
After the checks have been completed, you will be sent your fuel cards. The time frame varies from one provider to the other, but should not take more than a few weeks.
How do fuel cards work?
If you have employees driving the company cars out in the field, a fuel card plays a vital role in streamlining your work. You could be a plumber or an electrician driving a company vehicle. A fuel card ensures that you don’t pay for the fuel of your vehicle and later make a claim for your money, which can take a long time.
If your business is represented out there by technicians, drivers, or other workers, you need a system that enables you to track their operations remotely. With fuel cards UK businesses can simplify their operations and streamline their work to indescribable proportions. In short, a fuel card allows you to accomplish the following:
- Keep tabs on fuel costs automatically
- Control employee spending on fuel
- Track your fuel purchases automatically online
- Get access to comprehensive reports
- Identify and stop misuse or fraud
- Driver a stronger and better bottom line for your company
Steps for getting a fuel card
1. Know the Fuel Card Type you are Eligible for by Checking Your Credit Rating
Based on your credit score, you will be shown the fuel card types that your business qualifies for. You can get this information for free from the internet using sites like Credit Sesame and Credit Karma. If your credit score is great, there is nothing stopping you from getting the best fuel cards UK on offer.
- Consider the size of your business when choosing a fuel card
One of the most important factors that determine the best card for your business is its size. For example, if your company has a few trucks, you need to choose a fuel card that makes the best sense. On the other hand, if you have thousands of vehicles, you want to use one fuel card type, as opposed to a smaller business with only a couple of trucks.
- Research the types of fleet cards on offer
Researching the types of cards on offer enables you to determine the ones that have a wider acceptance. It will also help you pinpoint cards with the best rebates and that which enables you to be as efficient as possible. After narrowing down your list, the next thing is to compare the fees and rewards of the different cards to identify the one that gives you the best deal.
Granted, some fuel cards will only be accepted at specific stations. On the other hand, some cards can be accepted at just about any petrol station nationwide. Narrow the field appropriately, depending on the option that makes the greatest sense for your business.
- Does the fuel card offer more than gas purchases?
Provided you know what you are looking for, fuel cards can come with several whistles and bells. The best fuel cards enable you to enjoy tracking tools, management tools, and also the ability to integrate telematics into your account. Fuel cards entail a lot more than simply paying for fuel. That is why you need to take time and investigate which providers have a full package deal and the ones just giving you a way of buying fuel.
- Apply for a fuel card that suits your business
After you find the right card that meets the needs of your business, apply for it. The application can be done over the phone, online, or through sending through the mail.
Conclusion
The process of getting a fuel card is pretty straightforward. After doing a credit check and determining the card that you are qualified for, you can apply for one online, via mail, or even over the phone. Before you do that, however, take into consideration factors like your business size and the cards that are on offer. It is really that simple.
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