If you are considering starting a trucking business or have already started your business, you should consider applying for a business credit card or fuel card program. Utilizing a business or fuel credit card will help you continue to build business credit, allow you to reap rewards for regular business expenses, and receive membership discounts.
Fuel Credit Cards
Let’s first chat about fuel card programs. There are multiple options for fuel cards. If you seek to receive rewards and discounts with a particular fuel retailer you may consider getting a retailer or gas brand-specific card. Additionally, there are fuel card programs that offer discounts for multiple retailers and additional benefits such as fuel rebates, compliance assistance, fuel tracking, and route planning apps. You may also consider a regular business credit card that offers competitive discounts on fuel or cash back on fuel. A few top-ranked fuel cards are listed here:
Gas Brand/Retailer:
Fuel Card Programs:
RTS Fuel Card Program – save an average of 25 cents per gallon at 2,000+ stations
General Rewards Cards (with Cash Back on Fuel or Fuel Discounts):
Business Credit Cards
Fuel is not the only regular expense you will encounter as a self-employed driver. Expenses such as maintenance, truck washes, truck safety equipment, PPE and clothing, licensing, permits, etc. all qualify as expenses to put on a business credit card.
Essentially, a business credit card can capture all the other expenses of your business. The use of a business credit card is common and allows business owners more flexibility when waiting to receive payment from customers, earning cash back, receiving purchase discounts, and receiving reward options. More importantly, it helps you establish and improve your business credit score. It is another layer of separation between your personal and business finances. It’s important to only put business expenses on a business credit card and we recommend paying the balance in full to avoid interest.
A business credit card with a spend tracking feature will also help you recollect your expenses for the year for when tax season rolls around.
Depending on the card you choose, there could be additional benefits such as accruing travel miles, flight discounts, and much more!
A few top-ranked business credit cards are listed here:
The cards listed above offer a variety of benefits. Be sure to thoroughly research each to identify which will best suit your business needs.
There are two major choices when it comes to starting your professional driving career – starting your own trucking business or working as a company driver. There are multiple ways to start your trucking business with different levels of investment, risk, pay, and support. It should be clear by now that it takes a definitive plan. If you feel drawn to the idea of starting your own trucking business, and if you feel you have the inner drive to drive, Soshaul can help! Please check out our free and for-purchase resources, templates, and in-depth courses available on our website.
Are you interested in learning more about topics such as IFTA or IRP, business plans or business structures, equipment or technology, or perhaps sales and marketing in transportation? Ready to START, DRIVE, & ACCELERATE your trucking business? Check out our course here!
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Soshaul Logistics LLC and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. It is meant to serve as a guide and information only and Soshaul Logistics, LLC - Copyright 2023 - does not assume responsibility for any omissions, errors, or ambiguity contained herein. You should consult your own tax, legal and accounting advisors before engaging in any transaction or operation.
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