5 Things You Need to Know Before Applying for a Fuel Card
Fuel cards are an essential business utility. Before you apply there are a few things you need to consider.
1. Credit History
Before an agreement is signed, the business/applicants credit history is thoroughly checked. Multiple checks across different agencies are undertaken which determines any decision on the applicant’s creditworthiness.
2. Home Ownership
If the applicant’s credit history has any issues, they may be required to sign a Director’s Guarantee. This ensures us that if any financial obligations are not met, the directors own assets (their home) may be at risk. So it’s a standard way for B2B service providers to protect themselves financially.
3. Your Job Title
Only a company director can authorize the purchase of fuel cards. Any member of an administrative team can fill in the forms but it’s only valid if a director has signed them. In addition, any further verification of the identity of the application signatory must be that same company director. A director’s signature is also a legal requirement from the banks to authorize the direct debit agreement.
4. Networks
Before ordering your cards, research the network you need that covers stations in your locality, in the kinds of areas your business operates and the routes they take. Certain cards are more useful in urban areas and others are better for motorway travel. There are no restrictions on having a range of cards from the same provider. Another important consideration is the extra benefits for drivers associated with fuel card usage, these include loyalty reward point schemes; facilities at service stations; and additional purchase options.
5. Additional Costs
One of the most important things to be mindful of is pricing. Many fuel card providers offer fishing prices that may appear cheaper than others only to supplement the relatively low price per litre with additional fees. These can come in the form of transaction costs, network costs, set-up fees. There is usually a general trade-off in price with network size.
T&C’s
It’s very important to check the terms and conditions before you sign the contract. Some fuel card providers might impose conditional terms, for example, higher fuel prices if your credit rating gets worse. There also be minimum spend limits, non-usage fees and penalties for exceeding credit limits. Some are standard industry practices and some are not.
Why Choose Cambrian?
At Cambrian Fuel Card Services, we provide a transparent, customer-centric service. We aim to give our customers the best service and enable them to get the best out of their cards with the latest technology. Our comprehensive range of cards offers refuelling options to fleets of all sizes and types. We cater for both conventionally fueled vehicles and BEVs.
As an independent fuel card supplier, we can react to the changing needs of our customers by offering them the best cards for their business. If your business changes for any reason, we will change you to another network for free.
As a Cambrian customer, you will have access to our free online account portal which is accessible 24/7 and allows you to view and download all your transactional data as well as make card administration requests. We’ve also invested substantially in our Fuel Station Locator Mobile App. It’s free to download for both iOS and Android and works by using your phone’s location to find the nearest station in your fuel card network.
With Cambrian, all you pay for is the fuel. We don’t add card charges, transaction fees or set-up costs and there is no minimum spend limit. The only cost we pass on is a non-usage fee which is 75p plus VAT if a card isn’t used in a calendar month.
Useful Links
Click here to learn more about our company – https://www.cambriancards.com/about-cambrian/
Click here to see our range of fuel cards – https://www.cambriancards.com/fuel-cards/
Download our free Fuel Station Locator App – https://www.cambriancards.com/fuel-station-locator-mobile-app/
5 Things You Need to Know Before Applying for a Fuel Card
