Best fuel and expense options, card? check?

[galetruckingllc]

Have been an owner operator of several bull racks running mainly local area stuff.. One of my trucks,, myself, is goin to run much more abroad and was wondering what the best card would be,, lookin for some percent cash back as i have read that it seems to be the best,, dotn wnat to mess with comdata or any of those thigns,, rather use just a credit card and pay the full bill each biling cycle. Is it best to use company cards, such as shell card of BP card and what not,, or use a major card,, visa, american express discover,, ect... wondering what card most fuel stations would accept,, like i said id like to get most back as possile to offset the charge they pass along,,, any hlep is appreciated,, thanks in advance,, drive safe

[merrick4]

Well as I just posted earlier today, I used a 5% cash back at the T/A (amex) and T/A coded it as a restuarant purchase. So there goes the 5% for that purchase.

Read the fine print on these cards. A lot of them limit how much you can get back per month or per year. Personally I think Amex blue cash back would be the best but you don't get 5% until you have spent $6500.

Good luck.

[allan5oh]

I agree, it's better getting a discount up front rather then taking chances fulfilling every little detail with a credit card.

Also, you can save a LOT of money if you understand how IFTA works, and that the price at the pump isn't really what you pay.

I'll give you a perfect example, most people heading into florida will fuel up in georgia. Trouble is, florida is actually cheaper!

It's about the base price, excluding fuel tax, rather then the posted price.

[GMAN]

Most fuel stops accept Visa, Mastercard, Amex and Discover. If you want to use a regular credit card, you will probably want to use one of these since you can use them anywhere. The exception is Flying J. They no longer accept Visa. Most of the chains charge an additional $0.06/gallon for using a credit card, so you need to find one which gives a cash discount to make it profitable to use. Discover and Amex offer a 5% cash rebate on some cards. There are also some Visa and Mastercards which offer cash back.

[merrick4]

I agree, it's better getting a discount up front rather then taking chances fulfilling every little detail with a credit card.

Also, you can save a LOT of money if you understand how IFTA works, and that the price at the pump isn't really what you pay.

I'll give you a perfect example, most people heading into florida will fuel up in georgia. Trouble is, florida is actually cheaper!

It's about the base price, excluding fuel tax, rather then the posted price.

Ok for those of us that don't understand how IFTA works, could you please explain that? thanks.

[GMAN]

IFTA stands for International Fuel Tax Agreement. Most Canadian provinces and most of the U.S. states participate in the program. It is a way for each state or province to receive the amount of taxes they are due based upon the number of miles trucks run in their state. Before IFTA we had to stop in each state. We had something which was called Bingo Cards. I won't get into that right now. Each state has a fixed amount of fuel tax they charge on each gallon of fuel. For instance, Tennessee charges $0.17/gallon, Texas $0.18, Georgia $0.11, etc., I believe these are correct, but am not looking at the chart right now. Some states such as Pennsylvania and New York have taxes over $0.30/gallon. When you purchase fuel in a state, you are given a credit. For instance, if you purchase 100 gallons of fuel in Tennessee you will be given a credit based upon the number of gallons purchased and miles driven in that state. Let's say you drive 100 miles in Tennessee and you get 5 mpg. You will have used 20 gallons to travel those miles. That will give you a credit for 80 gallons of fuel at $0.18/gallon. You travel 100 miles in Georgia but don't buy any fuel. Again you use 20 gallons of fuel. Since you didn't purchase any fuel in Georgia you have a deficit. However, you can take part of the credit from Tennessee to avoid paying any additional taxes to Georgia. If you run in Florida and don't purchase fuel, then you may need to pay extra at the end of the quarter. You get credit for the amount of tax you paid at the pump. For instance, if you buy fuel in Tennessee you get credit for $0.17/gallon. If you buy fuel in Georgia you receive a credit for $0.11/gallon. You receive a credit or debit on the amount of tax that is paid or should be paid for each state. Under IFTA, you pay your taxes in your home state. IFTA taxes must be filed each quarter. If you travel the higher tax states and buy fuel only in the lower tax states, you may need to pay additional taxes at the end of the quarter. If you buy most of your fuel in the higher tax states and mostly run in the cheaper tax states, you may wind up with a credit. You can find out the actual cost of your fuel by taking the fuel taxes off of the pump price and see what the fuel is actually costing you. Sometimes you will pay less buying in the higher tax states, other times you may pay less in the lower tax states. It takes a little calculating. I rarely pay more than $75/quarter. It sounds complicated, but makes sense once you do it a few times. As a carrier, you are required to keep track of all miles run in each state and gallons purchased by state. That is what you put on the tax forms. You either have a credit or deficit. Hopefully, I haven't totally confused you.

[allan5oh]

http://www.classadrivers.com/phpBB2/...=294075#294075