New entrepreneurs and experienced small business holders find it equally challenging to deal with mounting expenses. For many, gas takes up a significant portion of the expense sheet and can force owners to look for alternate ways to manage their finances or shut down for good.
Whether your company relies on a fleet of cars or your workers often travel to close deals, finding ways to reduce costs while optimizing the cash flow is crucial.
A practical tool to keep your gasoline under budget is business gas cards. These cards have cashback policies and allow users to collect redeemable points, helping small-business owners reduce fuel costs.
A fuel card will free your employees from the liability that comes with handling cash and keeping track of receipts. They can stop, get gas, and pay any other vehicle-related bills on the go. This way, they save time and money using the best gas credit cards instead of filling out lengthy reimbursement paperwork.
Top Business Gas Cards
Here’s a quick list of some of the best gas credit cards to help your business. Choose wisely.
Ink Business Cash Credit Card
Annual fee: 0$
Credit Score Needed: Good to Excellent
Intro APR: 0% on purchases for the first 12 months
Regular APR: 15.49% – 21.49%
This gas credit card is popular among small business owners who utilize their cards to pay for gasoline and have high fuel expenses. Chase Ink business cash credit card provides 2% cashback on petrol and 5% cashback on internet cable, office supplies, and phone services.
It also offers an opening signup bonus of $750 after spending $6000 in the first 3 months. The purchase interest rate on the card is 0% for the first 12 months; after that, it varies from 15.49% to 21.49%.
Pros:
- No annual fee
- A generous intro APR/welcome bonus
- High reward percentage for business categories
Cons:
- Foreign transaction fee
- Limited bonus categories
- High APR for people with low credit scores
Capital One Spark Cash Plus
Annual fee: $150
Credit score needed: Excellent
Intro APR: N/A
Regular APR: N/A
The Capital One Spark Cash Plus card gives you 2% cash back on everything you buy, with a spending cap and no expiration on earned rewards. There’s a welcome incentive of up to $1,000 for participating firms –$500 for $5,000 spent in the first three months of membership and the other $500 for $50,000 spent in the following six months.
Capital One’s Spark Cash Plus charge card is an alternative to standard credit cards; it offers no annual interest rate or fixed sending limit. However, businesses must pay the card’s balance in full each month. Otherwise, it could reflect poorly on their credit score.
Pros:
- Bonus Travel perks
- Unlimited cashback rewards
- Free employee card addition
- No expiration for rewards
Cons
- Annual fee of $150
- Full balance payable every month
Marriott Bonvoy Business® American Express® Card
Annual fee: $125
Credit score needed: Good to excellent
Intro APR: N/A
Regular APR: 18.74% – 27.74% (variable)
Small businesses with high fuel expenditures and frequent travelers can benefit from the Marriott Bonvoy Business American Express Card. With this card’s points-based rewards program, cardholders can earn free nights at any of Marriott’s worldwide hotels and have the flexibility to transfer redemption points toward air travel with any airline partner.
After purchasing $4,000 or more during the first three months of establishing an account, cardholders are eligible for a welcome bonus of 100,000 points.
However, unlike many comparable cards, this one has an annual fee of $125 and doesn’t provide a 0% APR promotional period.
Pros
- Generous welcome bonus points
- High reward rates
- Anniversary perks
- Automatic elite status
Cons
- High annual fee
- No cashback rewards
- Lower acceptance internationally
U.S. Bank Business Triple Cash Rewards World Elite Mastercard®
Annual fee: $0
Credit score needed: Good to excellent
Intro APR: 0% on purchases and then balance transfers for the first 15 billing cycles
Regular APR: 16.99% – 25.99% (variable)
The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® is among the top picks because cardholders may earn 3 percent cash back at all petrol stations. Get 3% cash back on dining, 2% on office supplies, 1% on mobile phone services, and 1% on anything else you buy. It’s one of the finest cashback business credit cards since your rewards aren’t capped.
It also boasts the longest introductory interest-free term (on purchases and debt transfers) of any cards here (the first 15 billing cycles). A $500 cash bonus is available after spending $4,500 in the first 150 days of card membership, and there is no annual fee.
Pros
- No annual fee
- Bonus cash back categories
- A generous intro APR/welcome bonus
Cons
- Balance transfer fees of a minimum of $5
- Foreign transaction fees
- Low rate outside bonus categories
Shell Small Business Card
Annual fee: $0
Credit score needed: Good to excellent
Intro APR: N/A
Regular APR: 23% – 26% (variable)
The Shell Small company card is an alternative for company owners searching for a gasoline or fleet business card that doesn’t need a personal guarantee. The card offers companies a gasoline refund of up to 6 cents per gallon, with no annual fees.
However, the card is only accepted at participating Shell gas stations and Jiffy Lube locations and provides limited benefits beyond the gasoline return.
Additionally, its variable interest rate is on the upper end of the spectrum, ranging from 23% to 26% APR, and the fuel savings maximum is set at $300 every billing cycle.
Pros:
- No annual fee
- Online account management tools
Cons:
- Spending cap on fuel rewards
- Purchases and rewards are limited to Shell Stations and Jiffy Lube
Conclusion
Small business owners could profit from using gas credit cards to collect points and save costs on gasoline purchases. Each card has its own benefits and drawbacks that you’ll want to weigh carefully before deciding which one to use for your company.
Make the best business after weighing the pros and cons of each card and matching it with the requirements of your business.
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