What is a Business Gas Credit Card?
A business gas credit card is a financial tool designed specifically for small businesses to efficiently manage fuel expenses. These cards offer benefits such as cashback or rewards on gas purchases, helping businesses save money.
Businesses can earn rewards on gas purchases made using these cards, which can then be redeemed for various benefits like statement credits or gift cards. This feature makes business gas credit cards an attractive option for companies with significant fuel expenses.
The key difference between a business credit card and a personal credit card lies in their usage. While personal credit cards are meant for individual use, business credit cards cater to a company’s financial needs. Businesses can track and manage expenses more effectively with dedicated business credit cards.
Moreover, small business credit cards often come with additional features tailored to meet the unique requirements of businesses. These features may include expense tracking tools, employee spending limits, and customizable reporting options.
How do Gas Cards for Business work?
Gas cards for business are specialized credit cards designed to help companies manage their fuel expenses efficiently. Employee cards can be issued under the main account, allowing multiple individuals to make purchases within the company’s designated credit line.
These cards are distinct from regular business credit cards as they focus primarily on gas-related expenses. While traditional business credit cards offer a wide range of spending options, gas cards are explicitly tailored for fuel purchases.
One key feature of business gas credit cards is their rewards program for gas purchases. Companies can earn cash back or points for every dollar spent on fuel, providing a valuable incentive for using these cards.
Gas cards streamline expense tracking by providing detailed statements outlining all card transactions. This simplifies monitoring fuel expenditures and ensures accurate record-keeping for financial purposes.
Business gas cards often come with additional benefits such as fraud protection, online account management, and customizable spending limits for each employee card. These features enhance security and control over company expenses.
Companies can also take advantage of discounts and special offers provided by gas stations or card issuers, further maximizing fuel cost savings. By leveraging these perks, businesses can effectively reduce their overall operating expenses.
Gas cards for business are essential for companies that rely heavily on vehicles for their operations. Whether it’s a small business with a few company cars or a large corporation with a fleet of vehicles, these cards offer convenience and cost-saving opportunities.
What should Small Business Owners look for in a Gas Card?
Small business owners consider several key factors when comparing business gas credit cards.
Rewards for Fuel Purchases
When comparing gas rewards for different business credit cards, small business owners should look for cards that offer the highest cashback or rewards on gas purchases. Some cards may also provide additional benefits, such as discounts on fuel purchases or bonus points for spending at certain gas stations. It’s important to consider the overall value of the rewards program and how it aligns with your business’s spending habits.
Other Rewards
Some business gas credit cards offer rewards for fuel purchases and provide additional benefits such as travel rewards, restaurant discounts, and rewards for everyday purchases. These credit cards allow businesses to earn points or cash back on various expenses, making them versatile tools for maximizing rewards on various business expenses beyond just fuel. By comparing the rewards offered by business gas credit cards, businesses can choose a card that best suits their spending habits and preferences.
APR & Fees
When deciding on any business credit card, comparing APRs and fees is vital to ensure you get the best deal for your company. Look for a card with a low APR to save on interest charges, and consider any annual fees or transaction fees that may apply to make an informed decision. By comparing these factors, you can choose a business gas credit card that aligns with your financial goals and needs.
Consider these fees when looking for small business credit cards:
- Annual fees.
- Foreign transaction fees.
- Late payment fees
General Gas Rewards vs Station-Specific Gas Cards
Some business gas credit cards offer rewards for purchases at most major gas stations, providing flexibility and convenience for users. On the other hand, specific gas station cards like the Shell Business Card may offer higher rewards rates but limit where the rewards can be earned. The choice between the two types depends on the user’s preference for flexibility versus maximizing rewards at a specific gas station.
Credit Limit
When selecting a business gas credit card, it is essential to ensure that the card offers a credit limit high enough to cover your business’s fuel expenses. A higher credit limit provides flexibility and peace of mind, allowing you to manage unexpected costs or fluctuations in gas prices without worrying about maxing out your card. Choosing a card with a sufficient credit limit can effectively support your business’s transportation needs and maintain smooth operations.
What are the Best Business Gas Credit Cards?
Here’s our list of the best business credit cards with gas rewards for small businesses.
Blue Cash Preferred® Card from American Express
- Introductory APR: 0% for the first 12 months.
- Purchase APR: 19.24% – 29.99% (variable).
- Annual Fee: $0 for the first year, then $95.
- Foreign Transaction Fee: 2.7%.
- Gas Rewards: 3% cash back at US gas stations.
The Blue Cash Preferred® Card from American Express offers a generous rewards program, including 6% cash back at US supermarkets (up to $6,000 per year in purchases, then 1%) and select US streaming subscriptions, 3% cash back at US gas stations and on transit, and 1% cash back on other purchases. Cardholders can also earn a $300 statement credit after spending $3,000 in the first six months.
Chase Ink Business Cash Credit Card
- Introductory APR: 0% for the first 12 months.
- Purchase APR: 18.49% – 24.49%.
- Annual Fee: $0.
- Foreign Transaction Fee: 3%.
- Gas Rewards: 2% cash back.
The Chase Ink Business Cash Credit Card offers various rewards for business owners, including 5% cash back on office supply stores and internet, cable, and phone services. Additionally, cardholders can earn 2% cash back on gas stations and restaurants, making it a valuable option for everyday business expenses.
Marriott Bonvoy Business® American Express® Card
- Introductory APR: N/A.
- Purchase APR: 20.99% – 29.99%.
- Annual Fee: $125.
- Foreign Transaction Fee: None.
- Gas Rewards: 4x points for fuel purchases at US gas stations.
The Marriott Bonvoy Business® American Express® Card offers rewards tailored for business travelers, including points for stays at Marriott hotels, complimentary Silver Elite status, and an annual free night award. In addition to these benefits, cardholders also earn 4x points at US gas stations, making it an excellent option for those who frequently travel by car for work.
Bank of America® Business Advantage Unlimited Cash Rewards Mastercard®
- Introductory APR: 0% for the first nine billing cycles (purchases only).
- Purchase APR: 18.49% – 28.49% (variable).
- Annual Fee: $0.
- Foreign Transaction Fee: 3%.
- Gas Rewards: 1.5% cash back.
The Bank of America® Business Advantage Unlimited Cash Rewards Mastercard® offers unlimited 1.5% cash back on all purchases, making it an excellent option for businesses looking to earn rewards on their everyday spending. There are no annual fees associated with this card, and cardholders can also benefit from a $300 statement credit after making at least $3,000 in net purchases within the first 90 days of account opening. This card provides a straightforward rewards program to help businesses save money on expenses.
US Bank Business Triple Cash Rewards World Elite Mastercard
- Introductory APR: 0% for the first 15 billing cycles (purchases only).
- Purchase APR: 19.24% – 28.24% (variable).
- Annual Fee: $0.
- Foreign Transaction Fee: 3%.
- Gas Rewards: 3% cash back.
The US Bank Business Triple Cash Rewards World Elite Mastercard offers a competitive rewards program, including cash back on gas purchases. Cardholders can earn triple cash rewards on eligible gas purchases, making it an attractive option for businesses that frequently spend on fuel. This card allows businesses to maximize their savings and earn rewards on essential expenses like gas.
American Express® Business Gold Card
- Introductory APR: N/A.
- Purchase APR: 19.49% – 28.49% (variable).
- Annual Fee: $375.
- Foreign Transaction Fee: None.
- Gas Rewards: 4x Membership Rewards® for the 2 categories your business spends the most on each billing cycle.
The American Express® Business Gold Card offers a robust rewards program, including points for every dollar spent on eligible purchases. Specifically, cardholders can earn extra points on purchases at gas stations, making it an excellent option for businesses that frequently need to fuel up their vehicles. With the gas rewards and other benefits, this card can help businesses save money and earn valuable rewards on their everyday expenses.
Costco Anywhere Visa® Business Card by Citi
- Introductory APR: N/A.
- Purchase APR: 20.49% (variable).
- Annual Fee: $0.
- Foreign Transaction Fee: None
- Gas Rewards: 4% for the first $7,000 in fuel purchases per year, then 1%.
The Costco Anywhere Visa® Business Card by Citi offers a lucrative rewards program, including cash back on eligible gas purchases. This is especially beneficial for small business owners who can take advantage of Costco’s competitive fuel prices and earn additional savings through the card’s gas rewards. This card allows small business owners to maximize their savings on everyday expenses.
What are the benefits of Business Gas Credit Cards?
Business gas credit cards offer unique advantages tailored to businesses. They allow companies to earn cash rewards on gas purchases, providing significant savings for those with high gas expenses.
These cards often offer unlimited cash rewards, maximizing savings potential. Additionally, business gas cards provide rewards on other purchases, enhancing their overall value proposition.
Many cards have extra features like travel rewards or points systems, further benefiting businesses. The rewards rate on gas purchases is typically higher than regular credit cards, allowing companies to earn more rewards per dollar spent.
New cardholders can also often enjoy an introductory bonus, incentivizing spending within the first few months. Business gas credit cards offer practical ways for companies to save money and improve their financial health through cash rewards that can be reinvested into the business.
What are the drawbacks of Business Gas Credit Cards?
Business gas credit cards can have several drawbacks that businesses should be aware of before using them. These include high interest rates, annual fees, and potential overspending.
The high interest rates associated with business gas credit cards can quickly accumulate if the balance is not paid off in full each month. Additionally, many of these cards come with annual fees, which can add to the card’s overall cost.
Another drawback is the temptation to overspend, especially when using the card for everyday expenses and gas purchases. This can lead to increased debt and financial strain on the business. Overall, while business gas credit cards can offer convenience and rewards, it is crucial for businesses to carefully consider these drawbacks before deciding to use them.
Business Gas Credit Card Pros & Cons
Pros:
- Convenient for tracking business gas expenses.
- Can earn rewards or cash back on gas purchases.
- Some cards offer discounts on gas purchases.
- Helps build business credit history.
Cons:
- May come with high interest rates if not paid in full each month.
- Annual fees may apply.
- Limited rewards or benefits compared to general business credit cards.
- Not all gas stations may accept the specific credit card.
How do I apply for a Business Gas Credit Card?
Follow these steps to apply for a business gas credit card:
Step 1 – Research and compare business gas credit card options: Start by researching different business gas credit card options available in the market. Look for cards that offer rewards, discounts, or cashback on gas purchases. Compare interest rates, annual fees, and other terms and conditions to find the card that best suits your business needs.
Step 2 – Gather necessary documents: Before applying for a business gas credit card, make sure you have all the necessary documents ready. This may include your business tax ID, proof of income, business bank statements, and other relevant financial documents.
Step 3 – Fill out the application form: Once you have chosen a business gas credit card and gathered all the required documents, it’s time to complete the application form. Provide accurate information about your business, including address, contact information, and financial details.
Step 4 – Submit the application: After completing the application form, review it carefully to ensure all information is accurate. Then, submit the application online or by mail, depending on the card issuer’s preferred method.
Step 5 – Wait for approval: Once you have submitted your application, the card issuer will review your information and make a decision on whether to approve your business gas credit card application. Depending on the issuer, this process may take a few days to a few weeks.
Step 6 – Receive and activate your card: If your application is approved, you will receive your business gas credit card in the mail. Follow the instructions provided to activate the card before using it for gas purchases.
Step 7 – Start using your card: Once your business gas credit card is activated, you can start using it to make gas purchases for your business. Remember to make timely payments to avoid interest charges and maintain a good credit score.
Frequently Asked Questions
Here are the most common questions about business gas credit cards.
What types of businesses benefit the most from Gas Cards?
Gas credit cards can be advantageous for various types of businesses, especially those heavily reliant on transportation. Let’s explore some types of businesses that can benefit significantly from gas rewards cards.
Gas Stations
Businesses such as gas stations themselves can benefit significantly from these cards. Using gas credit cards, gas stations can effectively manage fuel expenses and track spending.
Startups
Startups are another type of business that can benefit from gas credit cards. Startups often have limited cash flow and resources, making it essential to save money wherever possible. Gas credit cards offer rewards and discounts on fuel purchases, helping startups save on operational costs.
Employees Who Travel for Business
Gas credit cards can be a valuable asset for employees who frequently travel for work purposes. These cards provide convenience and savings on fuel expenses, making them ideal for employees who need to travel long distances as part of their job responsibilities.
Businesses That Rely on Travel
Moreover, businesses that rely on travel as a core component of their operations can maximize the benefits of gas credit cards. Whether for client meetings, site visits, or deliveries, these businesses can enjoy savings on fuel costs through rewards and cashback offers provided by gas credit cards.
Vehicle Advertising & Delivery
Companies that use vehicles for advertising purposes, such as delivery services or mobile marketing units, can leverage gas credit cards to save on fuel expenses. The rewards and discounts offered by these cards can contribute to cost-effective advertising strategies.
Limited Travel Access
Furthermore, businesses in areas with limited access to public transportation or rural stations can find gas credit cards particularly beneficial. These businesses rely heavily on vehicles for daily operations, making fuel expenses a significant portion of their budget.
What’s the difference between a Business Gas Card and a Fleet Card?
Fleet cards are designed for businesses with multiple vehicles and offer benefits like fuel cost management. They provide detailed fuel expense reports and often come with discounts at specific gas stations.
A business gas credit card, on the other hand, is more suitable for small businesses with fewer vehicles. It offers rewards and cashback on gas purchases, making it ideal for those looking to save on fuel costs.
Differences between a business fleet credit card and a business gas credit card:
- Fleet cards are meant to manage fuel expenses across a fleet of vehicles, while business gas credit cards cater to individual vehicle needs.
- Fleet cards usually offer customizable spending limits for each driver, enhancing control over fuel expenditures.
- Business gas credit cards focus on providing rewards and discounts to help businesses save money on fuel purchases.
- Fleet cards often have advanced reporting features, allowing businesses to track fuel spending more efficiently.
- Business gas credit cards may partner with specific gas stations, offering discounts or cashback rewards at those locations.
Can a Business Fuel Card help build Business Credit?
One advantage of using business fuel cards is the potential to build business credit. Timely payments on these cards can positively impact a company’s credit score, which can be beneficial when applying for loans or other forms of credit in the future.
Some essential considerations when building business credit with a fuel card include:
- Ensure the credit card issuer reports credit activity to the major business credit bureaus.
- Make all payments on time.
- Avoid late payments, as these can damage your credit.
- Keep revolving balances low to maintain a low credit utilization ratio.
- Maintain good personal credit, which often also plays a role in business financing.
Can I get a Business Fuel Card with Bad Credit?
Business owners with fair credit may still qualify for a business gas credit card but might face limitations. Some issuers offer cards specifically designed for those with less-than-perfect credit scores. These cards typically come with higher fees and lower credit limits than standard business fuel cards.
You might consider applying for a secured business gas credit card if you have bad credit. With a secured card, you’ll need to provide a security deposit upfront, which acts as collateral in case you default on payments. This deposit reduces the risk for the issuer, making it easier for individuals with bad credit to get approved.
When exploring options for a business fuel card with bad credit, compare the fees associated with each card. Some cards may have higher annual fees or additional charges, so it’s essential to understand the total cost before applying. Look for cards that report your payment history to the major credit bureaus. Timely payments can help improve your credit score over time.
Best Business Gas Credit Cards – Final Thoughts
Choosing the best business gas credit card is crucial for maximizing savings and rewards. Businesses can find a card that suits their needs by comparing features like cashback rates, introductory offers, and annual fees.
It’s essential to consider factors such as fuel spending habits and payment terms to make an informed decision. With the right card, businesses can benefit from discounts on gas purchases and other perks that can help boost their bottom line.
Contact us if you have more questions about business credit cards or want to apply for a small business loan. Our alternative funding experts can help you find the best business financing options for your needs.
