Gas is a significant expense for many businesses, especially those with employees who frequently travel or have a fleet of vehicles. Fortunately, there are credit cards specifically designed to help companies earn rewards on gas purchases, which can help offset some of these costs. In this comprehensive guide, we’ll explore the best business gas cards available in 2024, their features, and how to choose the right one for your company.
Introduction
Running a business can be costly, and every penny saved counts. One way to reduce expenses is by using a credit card that rewards you for your gas purchases. Business gas cards offer various benefits, including cashback, points, or miles that can be redeemed for travel, merchandise, or statement credits.
With so many options available, it can be overwhelming to choose the right business gas card. This guide aims to simplify the process by providing an in-depth analysis of the best business gas cards, their rewards programs, and additional perks that can benefit your company.
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Top Business Gas Cards in 2024
Wyndham Rewards Earner® Business Card
The Wyndham Rewards Earner® Business Card is an excellent choice for businesses that frequently stay at Wyndham hotels or need a card that rewards gas purchases generously. With this card, you’ll earn:
- 8 points per $1 spent on Hotels By Wyndham and gas purchases
- 5 points per $1 spent on marketing, advertising, and utilities
- 1 point per $1 spent on all other purchases
Additionally, cardholders receive automatic Wyndham Diamond status, a 10% award redemption discount, and 15,000 bonus points on their card anniversary. The annual fee is $95, and the welcome offer allows you to earn up to 100,000 bonus points after meeting specific spending requirements.
American Express® Business Gold Card
The American Express® Business Gold Card is a flexible rewards card that could be beneficial for businesses with significant gas expenses. It earns 4 Membership Rewards® points per dollar on the two categories where your business spends the most each month, up to $150,000 in combined purchases per calendar year. If gas is one of those top categories, you’ll earn bonus points on those purchases.
Other benefits include:
- 3 points per $1 spent on flights and prepaid hotels booked on amextravel.com
- Potential annual savings of up to $240 on eligible purchases at FedEx, Grubhub, and Office Supply Stores
- Up to a $12.95 monthly statement credit for a Walmart+ membership
The card has a $375 annual fee and a welcome offer of 70,000 Membership Rewards® points after spending $10,000 in the first 3 months.
IHG One Rewards Premier Business Credit Card
For businesses that frequently stay at IHG hotels and need a card that rewards gas purchases, the IHG One Rewards Premier Business Credit Card is an excellent choice. With this card, you’ll earn:
- Up to 26 total points per $1 spent when you stay at an IHG hotel
- 5 points per $1 spent on travel, dining, select business, and at gas stations
- 3 points per $1 spent on all other purchases
Additionally, cardholders receive an anniversary free night certificate, the fourth night free on award bookings, and complimentary IHG One Platinum elite status. The annual fee is $99, and the welcome offer allows you to earn up to 175,000 bonus points after meeting specific spending requirements.
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Capital One Spark Miles for Business
The Capital One Spark Miles for Business is an excellent choice for businesses looking for a straightforward rewards program. With this card, you’ll earn:
- 2 miles per $1 spent on every purchase
- 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel
Other benefits include no foreign transaction fees, free employee cards, and a $100 credit for Global Entry or TSA PreCheck® every 4 years. The annual fee is $0 for the first year, then $95 after that, and the welcome offer is 50,000 bonus miles after spending $4,500 in the first 3 months.
The Blue Business® Plus Credit Card from American Express
The Blue Business® Plus Credit Card from American Express is a no-annual-fee card that offers a flat-rate rewards structure, making it a great option for businesses that don’t want to worry about bonus categories. With this card, you’ll earn:
- 2 Membership Rewards® points per $1 spent on all purchases, up to $50,000 per year
- 1 point per $1 spent after reaching the $50,000 spending cap
Other benefits include no annual fee, a 0% intro APR on purchases for 12 months, and a welcome offer of 15,000 Membership Rewards® points after spending $3,000 in the first 3 months.
Capital One Spark Miles Select for Business
The Capital One Spark Miles Select for Business is a no-annual-fee card that offers a simple rewards program. With this card, you’ll earn:
- 1.5 miles per $1 spent on every purchase
- 5 miles per $1 spent on hotels and rental cars booked through Capital One Travel
Other benefits include no foreign transaction fees, free employee cards, and a welcome offer of 50,000 bonus miles after spending $4,500 in the first 3 months.
Venture X Business
The Venture X Business is a premium business card that offers a generous rewards program and a suite of travel benefits. With this card, you’ll earn:
- 2 miles per $1 spent on every purchase
- 5 miles per $1 spent on flights and 10 miles per $1 spent on hotels and rental cars booked through Capital One Travel
Other benefits include a $300 annual travel credit, access to over 1,300 airport lounges worldwide, and an application fee credit for TSA PreCheck or Global Entry. The annual fee is $395, and the welcome offer is 150,000 bonus miles after spending $30,000 in the first 3 months.
Alaska Airlines Visa® Business Credit Card
The Alaska Airlines Visa® Business Credit Card is an excellent choice for businesses that frequently fly with Alaska Airlines or its partners. With this card, you’ll earn:
- 3 miles per $1 spent on Alaska Airlines purchases
- 2 miles per $1 spent on eligible gas, shipping, and local transit purchases
- 1 mile per $1 spent on all other purchases
Additional benefits include a free checked bag, priority boarding, and an annual companion fare after meeting specific spending requirements. The annual fee is $70 for the company and $25 per card.
U.S. Bank Triple Cash Rewards Visa® Business Card
The U.S. Bank Triple Cash Rewards Visa® Business Card is an excellent choice for businesses looking for a straightforward cash-back rewards program. With this card, you’ll earn:
- 5% cash back on prepaid hotels and car rentals booked directly in the Travel Rewards Center
- 3% cash back at gas and EV charging stations, office supply stores, cell phone service providers, and restaurants
- 1% cash back on all other eligible purchases
Other benefits include no annual fee, a $500 cash back welcome bonus after spending $4,500 in the first 150 days, and an annual $100 software credit. This card also offers a 0% intro APR on purchases and balance transfers for 15 billing cycles.
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Conclusion
Choosing the right business gas card can help your company save money on fuel costs while earning valuable rewards. By considering factors such as rewards rates, bonus categories, annual fees, and additional benefits, you can find a card that aligns with your business’s spending habits and needs.
Remember, the key to maximizing the value of a business gas card is to use it strategically for gas purchases and other eligible spending categories. Additionally, be sure to pay your balance in full each month to avoid interest charges that can negate the rewards earned.
With the wide range of options available, there is a business gas card that can benefit virtually any company, from small startups to large enterprises with significant travel and fuel expenses. Take the time to evaluate your business’s needs and explore the cards featured in this guide to find the best fit for your organization.
Frequently Asked Questions (FAQs)
Q: What is a business gas card?
A: A business gas card is a credit card designed specifically for businesses that offers rewards or cashback on gas purchases. These cards often provide additional benefits tailored to business needs, such as employee cards, spending tracking tools, and bonus rewards in other common business spending categories.
Q: How do business gas card rewards work?
A: Business gas cards typically offer rewards in the form of cash back, points, or miles. For example, some cards may offer 3% or 4% cash back on gas purchases, while others may provide 2 or 3 points/miles per dollar spent at gas stations. These rewards can then be redeemed for statement credits, travel, merchandise, or other perks.
Q: What are the benefits of using a business gas card?
A: The primary benefit of using a business gas card is the ability to earn rewards on gas purchases, which can help offset fuel costs. Additionally, many business gas cards offer other perks, such as:
- Employee cards for convenient expense tracking
- Spending management tools and quarterly/annual reports
- Bonus rewards in other business spending categories (e.g., office supplies, advertising)
- Travel benefits (e.g., hotel status, airport lounge access)
- Introductory 0% APR periods for purchases and balance transfers
Q: How do I choose the best business gas card for my company?
A: When choosing a business gas card, consider the following factors:
- Gas rewards rate: Look for cards that offer the highest rewards rate on gas purchases.
- Other bonus categories: If your business has significant spending in other areas (e.g., travel, dining, office supplies), choose a card that rewards those categories as well.
- Annual fee: Weigh the annual fee against the potential rewards earned to ensure the card is cost-effective for your business.
- Employee cards: If you have multiple employees who need cards, look for options that offer free employee cards.
- Rewards flexibility: Consider whether you want cash back, points/miles for travel, or a combination of both.
- Additional benefits: Evaluate perks like travel credits, lounge access, purchase protection, and more to maximize value.
Q: Can I use a personal credit card for business gas purchases?
A: While it is possible to use a personal credit card for business gas purchases, it is generally not recommended. Business credit cards offer distinct advantages, such as:
- Separating personal and business expenses for accounting purposes
- Employee card options for easier expense tracking
- Potential tax deductions for business-related purchases
- Higher credit limits and spending caps tailored to business needs
Using a dedicated business gas card can help streamline your accounting processes and provide additional benefits specifically designed for businesses.
Q: Are there any downsides to using a business gas card?
A: While business gas cards offer many advantages, there are a few potential downsides to consider:
- Annual fees: Some premium business gas cards charge annual fees, which can offset the value of rewards earned if you don’t spend enough to justify the cost.
- Complexity: Cards with bonus categories or rotating rewards can be more complex to manage, potentially causing you to miss out on maximizing rewards.
- Credit impact: Opening a new business credit card can result in a hard inquiry on your personal credit report, which may temporarily impact your credit score.
However, for businesses that spend significantly on gas and can take advantage of the rewards and additional benefits, a business gas card can be a valuable addition to their financial toolkit.
In another related article, The 5 Best Cash Back Business Credit Cards of 2024 & FAQs
