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Just started up a trucking business, what is the best gas card?

Just started up a trucking business, what is the best gas card?

Old Jul 25, 14, 12:20 am
  #1  
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Join Date: Mar 2014
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Just started up a trucking business, what is the best gas card?

Let me start off by saying I'm a Trucker. I spend around 2-3K a week on fuel. The station for fill-ups will vary so a specific station card aka Shell or BP wouldn't probably work. Mostly use Truckstop gas stations such as Loves,Pilot,Flying J etc. What is the best credit card to get rewards, discounts or cash back on diesel fuel?

Im currently using Chase Sapphire preferred, I am finally now deciding to move to a More Diesel/gas friendly rewards cash back program. Please assist me in the best way to obtain rewards/cash back.

Thank you Blessed day
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Old Jul 25, 14, 1:43 am
  #2  
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I would not change a thing. CSP gives you 2.14 UR pts/$1 spent on gas and that is where I'd be putting that amount of spend on gas
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Old Jul 25, 14, 4:44 am
  #3  
 
Join Date: May 2014
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With the volume of fuel purchases you're making, the Chase Ink Plus and Ink Bold would definitely be better for you over CSP. Contrary to the above post, CSP only gets 1.07 point per $ on fuel (the .07 running through 2015 only), while the Inks get 2 pts/$ up to $50k in purchases. Since you'd hit that cap about 1/3 or halfway into the year you'd need to apply for the other product after a few months or if you have a spouse, get them to apply and add you as an authorized user.

I assume you're running under an LLC or S-Corp so getting these business cards should be a piece of cake. Your earnings under the Ink and your current CSP can be combined anytime for redeeming rewards.
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Old Jul 25, 14, 6:32 am
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Just started up a trucking business, what is the best gas card?

PenFed cash rewards gives 5% back on gas.
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Old Jul 25, 14, 6:49 am
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I'm pretty sure CSP does not earn 2x UR for gas. The Ink Bold line does.
For my money if I wanted URs I'd go with a Bold, if MRs then the Everyday Preferred card, if I wanted cash back then the Old Amex Blue with 5% CB (after spending $6,500 on anything) but only for the first $400 per visit IIRC.
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Old Jul 25, 14, 7:29 am
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Originally Posted by vodkashine View Post
I'm pretty sure CSP does not earn 2x UR for gas. The Ink Bold line does.
For my money if I wanted URs I'd go with a Bold, if MRs then the Everyday Preferred card, if I wanted cash back then the Old Amex Blue with 5% CB (after spending $6,500 on anything) but only for the first $400 per visit IIRC.
^ this
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Old Jul 25, 14, 8:40 am
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Join Date: Nov 2013
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You need basically every gas discount card you've ever heard of
Start out with chase ink bold/plus and buy Shell and BP gift cards at Office supply stores for 5UR/$. When you don't have anything else you can use it for 2Ur/$ directly.
Get Discover and Chase Freedom for both you and your spouse if you have one, and use them up till the gas limit for 5% back during the quarters where that applies. Get the Pennfed cash rewards for 5% and Costco Truearnings business for 4% up to their limits.
Finish up with something like Barclay's arrival or Fidelity Amex at 2.2%/2% to cover when you've capped out all other cards (which you will at 120k/yr on fuel if no spouse).
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Old Jul 25, 14, 10:00 am
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Originally Posted by jacobsta811 View Post
You need basically every gas discount card you've ever heard of. Start out with chase ink bold/plus and buy Shell and BP gift cards at Office supply stores for 5UR/$.
Great idea if the OP was operating a business where he has a company car, however how many tractor trailers or other large commercial vehicles do you see at BP and Shell?

Plus, this is a real business he's operating so why create havoc with ten cards for he or his accountant to go through at tax time?
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Old Jul 25, 14, 10:13 am
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The everyday preferred card would be my choice, assuming OP would prefer to have a single go-to card, can hit 30 swipes per month, and places a reasonable value on MRs. Unlimited 3MR/$ seems like a pretty good deal to me.
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Old Jul 25, 14, 10:31 am
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Originally Posted by Daveyb101 View Post
The everyday preferred card would be my choice, assuming OP would prefer to have a single go-to card, can hit 30 swipes per month, and places a reasonable value on MRs. Unlimited 3MR/$ seems like a pretty good deal to me.
This would be my one card to rule them all choice.

Penfed Cash Rewards is better but they are so notoriously picky about what pumps qualify.
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Old Jul 25, 14, 10:42 am
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If the stations you usually use have cash pricing, it seems quite likely that you may be better off doing that.
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Old Jul 25, 14, 10:51 am
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Originally Posted by nandemo1 View Post
Great idea if the OP was operating a business where he has a company car, however how many tractor trailers or other large commercial vehicles do you see at BP and Shell?

Plus, this is a real business he's operating so why create havoc with ten cards for he or his accountant to go through at tax time?
For point 1), where I am, plenty - the shell across the street from my house is right off an interstate exit and has Tractor Trailer diesel pumps. A reasonable number of the truck stops in the area I am in, at least, are Shell and BP branded.

For Point 2), for the extra money. If he just wanted simplicity, get a Barclay's arrival and screw all the rest, but that is hardly the most profitable method - and this is *flyertalk* for god's sake - simplicity is hardly the way most things here work.

Edit to add, not for chump change either - at 120k/yr in fuel expenses, every extra 1% he can earn is an additional $1200 - so if he can do all his gas at 5% vs the easy 2% - extra $3600/yr.
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Old Jul 25, 14, 11:35 am
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Originally Posted by jacobsta811 View Post
Edit to add, not for chump change either - at 120k/yr in fuel expenses, every extra 1% he can earn is an additional $1200 - so if he can do all his gas at 5% vs the easy 2% - extra $3600/yr.
While I'll try not to confuse flyertalking for actual accounting advice, what's the impact of the 5% rebate versus 3 MR/$ come tax time? It would seem to me that at a minimum, a $6K rebate would be charged against the fuel expense claimed, bringing that benefit down to something more like $4,500. Would the MRs earned be treated similarly?
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Old Jul 25, 14, 12:05 pm
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Originally Posted by jacobsta811 View Post
For point 1), where I am, plenty - the shell across the street from my house is right off an interstate exit and has Tractor Trailer diesel pumps. A reasonable number of the truck stops in the area I am in, at least, are Shell and BP branded.

For Point 2), for the extra money. If he just wanted simplicity, get a Barclay's arrival and screw all the rest, but that is hardly the most profitable method - and this is *flyertalk* for god's sake - simplicity is hardly the way most things here work.

Edit to add, not for chump change either - at 120k/yr in fuel expenses, every extra 1% he can earn is an additional $1200 - so if he can do all his gas at 5% vs the easy 2% - extra $3600/yr.
I stand corrected, there are truck friendly locations with Shell and BP branded gas now that I think about it, though I am still of the belief that when it comes to the business that puts food on the table, don't make the financials unnecessarily complicated. It becomes a pain for whomever does the accounting and when an IRS audit comes around and you have to do a song and dance justifying how office supply purchases are actually fuel purchases so you can reap rewards that aren't showing in your financials, you're just opening the door for additional scrutiny.
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Old Jul 25, 14, 12:34 pm
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Originally Posted by nandemo1 View Post
It becomes a pain for whomever does the accounting and when an IRS audit comes around and you have to do a song and dance justifying how office supply purchases are actually fuel purchases so you can reap rewards that aren't showing in your financials, you're just opening the door for additional scrutiny.
This. ^

Especially if there is any sort of write-off for fuel, etc.

I'd go with the AMEX Blue Cash Preferred if you want cash, or the Chase Ink if you want points. To me, 2 UR > $0.03, but that's a personal choice.
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