Five myths about using fuel cards

In today’s competitive business landscape, every dollar counts. If you’re contemplating the use of a fuel card for your business, you might have come across several fuel card myths that could be holding you back. Fuel cards are an excellent tool for managing your fleet’s fuel expenses, yet these myths might be preventing businesses from reaping the full benefits.

In this article, we debunk five myths about using a fuel card, providing you with the accurate information you need to make an informed decision.

Myth #1: Fuel Cards Are More Expensive

A common fuel card myth is that using a fuel card is more costly compared to traditional payment methods like cash or credit cards.

Fuel cards, such as those offered by CardSmart, often provide significant cost savings. CardSmart offers the ability to access discounted fuel prices at participating stations across New Zealand, which can help with long-term savings on fuel expenses.

By carefully reviewing terms and conditions, businesses can avoid unexpected fees and select a fuel card provider that offers fair and transparent pricing. Transparency is important to CardSmart, and we ensure we keep our Fee Schedule up to date so that customers know about associated costs.

Moreover, fuel cards provide detailed reporting and analytics, allowing businesses to monitor fuel usage effectively, identify inefficiencies, and implement strategies to optimise fuel consumption, further reducing expenses.

Myth #2: Some Fuel Cards Restrict Access to Specific Fuel Providers

Another prevalent fuel card myth is that fuel cards limit you to specific fuel brands. However, this is not the case with CardSmart.

With CardSmart, you enjoy the flexibility to choose from various fuel brands that suit your needs. Our partnerships with 90% of fuel sites across New Zealand gives you access to a vast network of fuel stations, ensuring you can refuel at your convenience.

Our extensive network includes major fuel retailers and independent stations, so whether you’re in a bustling city or a remote area, CardSmart has you covered. Locating participating stations is simple with our online tools. Our website makes it easy to find the nearest fuel stations within our network using your location or GPS.

So, don’t let the myth of restrictive fuel cards deter you. CardSmart provides the flexibility and convenience to refuel at your preferred stations across New Zealand.

Myth #3: Fuel Cards Are Only for Large Fleets

Some believe that fuel cards are only beneficial for large fleets. Fuel cards offer numerous advantages for small businesses and solo operators as well.

For small businesses, managing fuel expenses can be challenging. Fuel cards provide a convenient and efficient way to track and control these costs. Small business owners can monitor fuel consumption, set spending limits, and generate detailed reports for better expense management.

Additionally, fuel card providers offer customisation options to meet diverse business needs. Whether you require features like vehicle maintenance tracking, driver management, or integration with accounting systems, providers can tailor solutions to fit your requirements.

Don’t let the misconception that fuel cards are only for large fleets discourage you. Fuel cards provide cost control, scalability, and customisation options, enabling effective fuel expense management for businesses of all sizes.

Myth #4: Fuel Cards Create More Administrative Work

Many believe that using a fuel card increases administrative work. Fuel cards simplify the management of fuel expenses through automated tracking and reporting features.

These features can help you reduce the need for manual record-keeping. Every fuel transaction is automatically recorded and categorised, providing real-time insights into fuel usage. This not only saves time but also helps identify anomalies or discrepancies in fuel expenses.

Fuel cards also help towards simplifying tax reporting and compliance. By consolidating all fuel expenses in one place, they provide detailed reports that could help with tax administration. These reports break down spending by vehicle or driver, making it easier to claim fuel tax credits and ensure compliance with tax regulations.

Contrary to popular belief, using a fuel card can help reduces administrative work. With automated tracking and reporting, integration with accounting software, and simplified tax reporting, fuel cards streamline fuel management processes, saving valuable time and effort.

Myth #5: You Can’t Use Fuel Cards for EVs

A common misconception is that fuel cards cannot be used for electric vehicles (EVs). However, CardSmart offers CardSmart +Electric which is a solution compatible with both traditional fuel vehicles and EVs, allowing businesses to manage their entire range fleet with better effectiveness.

As EV popularity grows, businesses need to adapt their fuel card programs. Using CardSmart +Electric businesses can conveniently track and manage expenses for their EVs. The card can be used at a network of charging stations and EV-friendly charging fuel stations across New Zealand, eliminating the need for multiple payment methods and simplifying billing.

CardSmart also provides detailed EV usage reporting and analytics, allowing businesses to monitor and optimise EV fuel usage. This helps identify cost-saving opportunities, track energy consumption, and make informed decisions about fleet efficiency.

Moreover, CardSmart’s solutions ensure security and control. Businesses can set spending limits, restrict card usage to specific fuel types, and monitor transactions in real-time, preventing unauthorised usage and reducing fraud risk.

If you think fuel cards are not for EVs, think again. CardSmart +Electric offers a comprehensive solution that caters to both traditional and electric vehicles, streamlining fuel management processes and providing numerous benefits.