Fuel cards have many benefits including, saving your business money, reducing fuel related administration time, improving visibility of fuel spend and providing reporting. Find more information on the benefits of a fuel card.
In this article we take a look at who can and who can’t apply for a fuel card.
Can individuals apply for a fuel card
No, currently at fuelGenie we only offer our fuel cards for business use.
Can sole traders apply for a fuel card?
Yes, businesses of all sizes, small and large can apply for a fuel card with fuelGenie. Our fuel cards can help the smallest of companies manage their fuel expenditure and save money. Sole traders can apply for a fuelGenie fuel card easily online. We use information provided about you as an individual and your company to gain a full picture for your credit approval.
Can I apply for a fuel card with poor credit?
Credit checks are part of the application process, if you have a poor credit rating your fuel card application may be declined by fuelGenie. However, we do offer the ability to pre-pay a deposit in order to secure a fuel card if you have poor credit. You will pay a deposit upfront which will be used to draw down upon if invoices are not paid on time. After a few months, if you have successfully been paying invoices on time we can move your business onto a credit-based fuel card. To enquire about this option please use our contact form to get in touch with one of our friendly advisors.
Can start-ups apply for a fuel card?
If you are a start-up you can apply for a fuel card, but you may have issues passing the credit checks. As mentioned in the above answer you can apply for the option of a fuel card with a deposit. This will provide you with the same functions as the regular credit-based fuel card but with a buffer deposit in place to cover your business if you are unable to pay your invoice. If you are concerned about applying as a start-up business, we suggest getting in contact using our contact form.
Can a business have more than one fuel card provider?
Yes, some businesses find it beneficial to have 2 or more fuel card providers and to take advantage of the different benefits each offer. For example, fuelGenie provides good cover and great benefits for cost effective supermarket fuel. If you also needed a fuel card to cover HGV vehicles you could get a second fuel card and still benefit from the cost savings associated with fuelGenie.
There are however some things to consider when deciding on one or multiple fuel cards.
- Fuel card fees – unlike fuelGenie which is completely free, some fuel cards charge a fee. Consider the multiplied cost of having more than one fuel card and the potential impact on your business finances
- Two invoices – you will receive two separate invoices which means more administration time to manage your fuel cards
- HMRC VAT reclaim - at fuelGenie we provide a single invoice which allows for easy VAT reclaim, when split between two fuel cards this will take more time to manage
- Two online management tools – fuelGenie puts all of your fuel card spend and information in one easy online management platform. Splitting your fuel card spend over two cards may make it more difficult to analyse the data
Can non-UK companies apply?
Yes, but the application procedure is slightly different. If you are a business that is not registered in the UK, you will need to call our team to apply. Our Customer Service Team can be contacted using this number: 0345 371 2490.
They are available Monday to Thursday 09.00 to 17.30, Friday 09.00 to 17.00
What information do I need to apply for a fuel card?
When applying for a fuel card from fuelGenie it is useful to have several bits of information on hand in order to speed up the application process. The information needed will vary depending on your business type.
Here are the key pieces of information most businesses need:
- Company and individual’s name
- Company and correspondence address
- Directors or partners details
- Bank name
- Account number
- Sort code
If you don’t have this information to hand you can wait or start your application. Our application process allows you to exit and resume your application at any point without losing your progress.
