Business Documentation
One of the primary requirements for obtaining a business gas card is proper business documentation. You will typically need to provide documents such as your business license, tax identification number (TIN), and articles of incorporation. These documents serve as proof that you are a legitimate business entity. Some card issuers may also require additional documents such as financial statements or bank statements to assess your creditworthiness.
Minimum Credit Score
Most card issuers have a minimum credit score requirement for business gas card applicants. This requirement ensures that the cardholder has a good credit history and is less likely to default on payments. The specific credit score requirement may vary from one card issuer to another. Typically, a credit score of 650 or higher is considered desirable for business gas card approval.
Business Size
Some business gas card issuers may have requirements regarding the size of your business. They may specify a minimum annual revenue or a minimum number of employees. These requirements ensure that the card is suitable for businesses of a certain scale. If your business is a startup or a small operation, you may need to explore alternative options.
Usage Restrictions
Business gas cards often come with usage restrictions. For example, some cards are limited to specific fuel stations or networks. Make sure to review the card's usage restrictions and determine if they align with your business needs. If your vehicles primarily operate in a specific area, look for cards that offer a wide network of fuel stations in that location.