Fuel cards have the benefit of being an easy way to purchase gas without relying on cash or credit. They can also be safer than doling out cash to drivers and are more fraud-resistant than credit cards. But is a prepaid fuel or gas card
the right choice for your business?
Many fuel cards are credit-based, so opening an account requires a good enough credit score to open a line of credit your business can use. Because of the impact the credit bubble has had on businesses, this may not be an option for you.
If you are changing from cash or reimbursement checks to a card, it may take some adjustment. However, for most businesses, even small ones, the initial changeover can lead to worthwhile advantages. Fuel cards offer business owners more control over your cash flow. Instead of giving out large amounts of money before a trip or dealing with a mountain of receipts afterward, the card allows cash to be accessed as it is needed. And it can be an easy way to provide additional funds in case of unexpected emergencies or delays.
For companies that need employees to purchase more than fuel, consider a corporate prepaid card like the PEX Prepaid Visa card service. These prepaid fuel gas cards
require no credit to open as you use your company funds to fill a primary account and later allocate to cards issued to employees. Money can be added easily and new accounts can be set up in minutes
And for the drivers the card works just like a Visa card, so it is easy to use. PEX Card lets you manage your money as you see fit and that can be the most efficient fuel card option of all.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.