Fleet cards are payment cards that businesses use to pay for vehicle-related expenses. Many companies that use them are in the trucking and transport industries.
Business owners and employees use fleet cards for expenses such as gas and vehicle maintenance and repairs. You might hear them referred to as fuel cards since that’s one of their most common uses.
People who use fleet cards include truck drivers, rideshare drivers, and delivery people. Government agencies and private companies both use them.
Not all businesses accept fleet cards. Some businesses that usually take them are gas stations, convenience stores, vehicle repair shops, and tire centers.
Some issuers allow limits on the type of purchases fleet cardholders can make. You might only be able to purchase diesel and not regular gasoline. Or, there might be a limit on purchase amounts. Fleet cards are also usually limited to certain merchant category codes. You can use them at gas stations but not liquor stores, for example.
Visa and Mastercard issue some fleet cards. Wex and Voyager are also popular options and aren’t associated with any of the major credit card companies.
Oil and gas companies such as Chevron, ExxonMobil, and Shell also issue fuel cards. With these types of cards, users can only use the cards at the issuing brand’s location.
If you’re a truck driver, you probably use a fleet card every day. Each time you buy diesel fuel to fill your tank, you pay with a fleet card. You can also use it to pay for vehicle maintenance and repairs, like fixing a flat tire.
If you’re the owner of a business such as a gas station, there’s a good chance you accept fleet cards each day. You might notice if the card is branded with a Wex, Voyager, Chevron, or Shell logo. If it’s a Visa or Mastercard fleet card, you might or might not notice.
When a customer tries to use a fleet card for a purchase that isn’t approved, you’ll see a decline. For many cardholders, for example, there’s a purchase amount limit. This limit helps business owners control their fuel expenses.
If the transaction amount is too high, the card won’t work. You’ll need to let the customer know that the card was declined.
Wondering about the fees associated with taking fleet cards? There are a few ways merchants can reduce these costs.
Always enter any information your point of sale system prompts for. This can include fuel grade, cost per gallon, and sales tax, all of which are considered Level 2 data. Level 3 data includes details such as odometer readings and vehicle ID numbers. The more information you enter, the better your rates are likely to be.
With Visa and Mastercard fuel cards, rates are similar to the brands’ other commercial cards. For Wex and Voyager, rates typically start around 3.25% per transaction. Keep in mind that your processor may add additional fees to these amounts.« Back to Glossary Index
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