Money Analysed

Maximizing Small Business Savings: Using Credit Cards for Gas Purchases

Using Business Credit Cards for Gas Purchases: Rewards and Benefits

As a small business owner, you already know that rising costs can be a major challenge, especially when it comes to fuel expenses. With many businesses relying on transportation, such as delivery vehicles and company cars, gas expenses can add up quickly.

Luckily, there is a solution that can help alleviate some of these expenses: using business credit cards for gas purchases. In this article, we will dive into the best business credit cards for gas, their rewards and benefits, and how to choose the card that is right for your business.

Best Business Credit Cards for Gas

American Express Business Gold Card:

If your business requires flexible travel rewards, this card could be the right choice. The American Express Business Gold Card offers 4x Membership Rewards points on two select categories of your choice, which includes gas stations.

It also offers 3x Membership Rewards points on eligible airfare and hotels. Bank of America Business Advantage Customized Cash Rewards Mastercard:

If you’re a preferred customer with Bank of America, the Business Advantage card offers cash back rewards on gas purchases for Preferred Rewards members, up to 3% in cash back.

Plus, the intro APR period for purchases and balance transfers is 0% for the first nine billing cycles. Capital One Spark Cash Plus:

For small businesses that prefer a simple cashback rewards program, this card offers 2% unlimited cash back on all purchases, including gas.

New cardholders can earn up to $1,000 bonus cash back by spending $10,000 in the first three months. Ink Business Cash Credit Card:

For businesses with limited expenses, the Ink Business Cash Credit Card offers a flexible cash back rewards program that includes 2% cash back on gas purchases up to $25,000 annually.

The card also offers bonus categories such as office supply stores and internet, cable, and phone services, which allow businesses to earn more cash back rewards. CitiBusiness / AAdvantage Platinum Select Mastercard:

For businesses that frequently travel with American Airlines, this card offers double AAdvantage miles on gas purchases.

Cardholders also receive perks such as a free checked bag, preferred boarding, and in-flight savings on food and beverages. Plus, the annual fee is waived for the first year.

Costco Anywhere Visa Business Card by Citi:

This card is a great option for Costco members, offering 4% cash back on gas purchases up to $7,000 per year, as well as 2% cash back on all other purchases at Costco, including online purchases. Marriott Bonvoy Business American Express Card:

For businesses that require travel, this card offers a complimentary Marriott Bonvoy Silver Elite status, which includes a 10% bonus on points earned from Marriott stays, priority late checkout, and free Wi-Fi. The card also offers 6x Marriott Bonvoy points on eligible purchases at participating Marriott Bonvoy hotels and 4x points on eligible purchases at US restaurants, gas stations, and on wireless telephone services.

United Business Card:

For businesses that frequently travel with United Airlines, this card offers double miles on United purchases and gas station purchases. Cardholders also receive a free checked bag and two United Club one-time passes each year.

U.S. Bank Business Triple Cash Rewards World Elite Mastercard:

This card offers unlimited 3% cash back rewards on gas purchases, 1% cash back on all other purchases, and prepaid hotels and car rentals. There are no spending limits, which can be a great advantage for businesses with higher expenses.

Wyndham Rewards Earner Business Card:

Businesses that frequently travel and stay at Wyndham hotels can benefit from this card, which offers automatic Diamond status in Wyndham’s rewards program, bonus points on gas purchases, and priority check-in and late checkout at participating hotels.

Benefits of Business Credit Cards for Gas Purchases

Using a business credit card for gas expenses benefits small business owners in many ways. For starters, using a credit card for gas purchases separates business and personal expenses, simplifying bookkeeping processes.

Business owners can also utilize the rewards offered by credit card companies to gain cash back, points, and miles on gas and other expenses. Additionally, by paying with a credit card, business owners can track fuel expenses more easily and take advantage of any available tax deductions.

Choosing the Right Card

When deciding which business credit card to choose, it’s important to consider what type of rewards will benefit your business the most. Think about what expenses your business has and which rewards categories best align with those expenses.

Additionally, consider the annual fee and any other costs associated with the card. While some cards may have higher annual fees, they may offer more extensive rewards programs that could be worth the added cost.

Bottom Line

Using a business credit card for gas purchases is a smart way to earn rewards while keeping your expenses organized. By utilizing a credit card’s rewards program and keeping track of expenses, small business owners can maximize their savings potential.

When choosing a card, consider what type of rewards your business needs and weigh the annual fees against the potential rewards. In conclusion, using business credit cards for gas purchases offers many rewards and benefits.

By separating business and personal expenses, tracking fuel expenses more easily, and taking advantage of available tax deductions, small business owners can maximize savings potential. Consider the type of rewards that would benefit your business most, weigh the annual fees against potential rewards, and choose the card that is best suited for your business.

Using this strategy, businesses can alleviate rising costs and take advantage of rewards programs to save money in the long run.

Popular Posts