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Fleet And Fuel Cards

Fuel Card Comparison: Voyager vs. Wex vs. Comdata vs. Corpay

Compare top fuel cards including Voyager, Wex, Comdata, Corpay, and Coast. Discover the best options for fuel management and fleet efficiency with this fuel card comparison.

Aerial View Of A Freeway Intersection. Road Junctions In A Big City

Fuel cards are an essential tool for fleet-based companies. With so many different cards on the market, though, it isn’t always easy to decide which one makes the most sense for your business.

The truth is that some cards are better suited for particular industries. Over-the-road (OTR) companies, for example, need a card that supports extensive travel across various regions and helps ensure steady and immediate cash flow. For OTRs, also known as long-haul trucking companies, the right fuel card can help them manage expenses and maintain uninterrupted operations.

With many different cards available, however — Voyager vs. Wex, Comdata vs. Corpay vs. Coast — it pays to know what to look for. In this post, we’ll discuss what long-haul trucking companies should think about when selecting a fuel card.

For other types of field service businesses using a fuel card, e.g. construction, landscaping, or passenger transport companies, Coast might be the right option for you.

What is a fuel card?

Man tapping card at gas station

Also known as fleet cards, fuel cards are specialized payment cards that allow businesses to purchase fuel and other vehicle-related expenses. Safer than cash and more convenient than getting reimbursed, they make life easier for drivers while providing businesses the ability to control and track spending.

Fuel cards often provide discounts on fuel purchases. Some also offer rewards that can be accrued and used towards future purchases or redeemed as cash.

What are the different types of fuel cards?

Some cards are tied to specific fuel brands, like Shell or BP, and are accepted only at affiliated stations. They generally offer good discounts and loyalty rewards for purchases made within the brand’s network.

Other fuel cards are specifically designed for fleet management. These cards usually come with security features, such as real-time alerts and the ability to turn off lost or stolen cards. They also have advanced features for monitoring and controlling fuel expenses. These sometimes extend to vehicle maintenance services and other purchases as well as fuel.

It’s important to be aware that most fuel cards are charge cards, not credit cards. While credit cards allow users to carry a balance, charge cards require payment in full each month.

What Should Different Types of Businesses Think About When Comparing Fuel Cards?

Fleet Management KPIs at the fuel pump

There are dozens of fuel cards on the market these days, many boasting features such as strong customer service and fraud protection that are universally important.

Some features, however, are particularly relevant to OTRs. These include payroll, factoring, and cash withdrawal, all of which cater specifically to the needs of long-haul trucking companies. Below, we share some of the most important features that OTRs should look for.

Businesses that don’t have these needs can consider a smart fuel card like Coast that offers open-loop acceptance, powerful software for reporting, card management, real-time visibility into transactions, and integrations with your other fleet tools.

Closed vs. Open Loop Cards

Some cards are closed loop, meaning they only allow purchases within a certain network of fuel retailers. This could be based on brand, geography, or association with a particular fuel card company. While some closed-loop cards offer enticing rewards, their networks may be too restrictive for OTRs, whose truckers may frequently travel outside the bounds of a given network.

Open loop cards, in contrast, can be used at any fuel station that accepts Visa, Mastercard, or other widely accepted card networks. Open loop cards are more convenient for drivers and mean fewer detours to find in-network stations. That, in turn, translates to faster travel times and less money spent on fuel.

Factoring

Thanks to a combination of high operational costs and long payment times, trucking businesses often struggle with cash flow. Factoring allows them to sell their invoices at a discount in return for immediate cash. The factoring company then takes on the responsibility of collecting the full payment from the customer. This arrangement helps trucking companies maintain a steady cash flow so they can cover essential expenses like fuel, maintenance, and payroll.

Factoring costs can vary widely depending on the volume of invoices, the creditworthiness of customers, and the length of the payment terms. OTR businesses should keep a close eye out for hidden fees and be sure they understand funding limits, invoice minimums, contract lengths, and penalties for early termination.

Cash Withdrawals

Fuel cards that facilitate cash withdrawals provide the convenience of cash while reducing the need to carry large amounts of it. Drivers can access cash as needed for on-the-road expenses such as minor repairs, tolls, and daily allowances. In emergencies, such as vehicle breakdowns, having access to cash ensures that drivers can manage situations promptly without waiting for company approvals.

Payroll

Recognizing the logistical challenges that trucking businesses face in managing both fuel expenses and payroll efficiently, some fuel card companies have expanded their services to include payroll solutions. Some companies provide payroll cards, which function like debit cards. These cards can be loaded with the employee’s earned wages each pay period. Employees can use these cards to withdraw cash, deposit money in personal accounts, make purchases, or pay bills. Payroll cards are especially useful for employees who do not have traditional bank accounts.

Top Fuel Cards

using fuel cards at a gas station

Voyager vs. Wex, Comdata vs. Corpay vs. Coast — we’ve selected five popular cards, each with its own set of features and benefits, for a closer look.

Coast Fleet Fuel Card

Coast Cards

About
Pros
  • Open loop acceptance
  • Real-time reporting
  • Robust spending controls
  • Useful integrations
Cons
  • No cash withdrawal
  • No payroll
  • Not available for companies organized in North and South Dakota, Nevada, and Canada
WEX EFS Fuel Card

WEX EFS Fuel Card

About
Pros
  • Cash advances
  • ATM cash withdrawals
  • Advanced spending controls
  • Factoring services
Cons
  • Closed loop network
  • Not part of the WEX EDGE Savings Network
Comdata Fleet Card

Comdata Fleet Card

About
Pros
  • Designed for trucking fleets
  • Payroll platform available
  • Per-gallon rebates
Cons
  • Closed loop and relatively small network
  • High late fees and setup fees compared to other fuel cards
Voyager Fleet Card

Voyager Fleet Card

About
Pros
  • No set-up, transaction, or late payment fees
  • Robust spending controls
  • Expense reports and tracking
Cons
  • Billing periods as short as 3 days
  • Closed loop network
  • No cash withdrawal or payroll functions
Corpay Fleet Card

Corpay One Fuel Mastercard

About
Pros
  • Open loop acceptance
  • Customizable controls and reporting
  • Integrations with common business software
  • Rebates
Cons
  • No payroll or cash withdrawals
  • Fees on various types of payment including ACH, check, and credit card

Research, Compare, And Save With Coast

Coast fleet card

When you compare features, Coast offers a flexible option to help field service businesses save money on gas no matter what size fleet they operate, with “open loop” Visa acceptance, real-time reporting, powerful spending controls, and integrations with tools like Intuit Quickbooks.

To learn more, visit coastpay.com.