Step 5.5: Revolving Business Credit Lines: Gas & Fleet Management
These revolving business credit lines are gas & fleet management companies that report to the business credit reporting agencies.
Module 5: Revolving Business Credit Lines
Step 5.5: Gas & Fleet Management
Gas & Fleet Management
The Rules for Applying With Revolving Accounts Are...
- Always submit each application with your personal SSN number left blank.
- If any of the revolving accounts ask for a social security number, be sure to tell them you want to try qualifying for credit terms based exclusively on your business information.
- You may still need to provide a personal guarantor with some of the providers. Remember, providing a guarantor is fine as it only affects the guarantor's personal credit in the case of total default. A few late payments will not affect personal credit, but you should never be late on payments as it does affect your business credit reports.
The revolving business credit account providers listed below are gas & fleet management accounts. Pay careful attention to their approval criteria before you apply.
ARCO Gas Card
Description: ARCO Gasoline pre-paid cards and fleet card programs provide quality top tier gas for less.
Reports to: Experian Business
Approval Requirements: A company needs at least an 80 Paydex score and they check your D&B and Experian Business credit reports. If your company is less than 3 years old then you will need to supply a personal guarantor. To avoid the personal guarantor you should set up electronic funds transfer (EFT).
Payment Terms: Revolving
CLICK HERE to Apply
BP/Amoco Business
Description: The BP Business Solutions MasterCard may be used at more than 12,500 BP and participating ARCO locations nationwide. Your drivers can use this card for your fleet's fuel and maintenance needs anywhere MasterCard cards are accepted.
Reports to: Dun & Bradstreet (reports quarterly)
Approval Requirements: You need your EIN and D-U-N-S Number. They will possibly check all three business credit reports and scores in consideration for approval. You will need to supply a personal guarantor if your business is declined based on its business credit reports or if you have been in business for less than 3 years. You may have a better chance getting a no PG if you use EFT (Electronic Funds Transfer) to make payments. You can apply online or complete the hard copy application available in the applications download section below.
Payment Terms: Revolving
CLICK HERE to Apply
Chevron/Texaco Gas Card
Description: Chevron Business Card gives you a turn-key system to help control and monitor fuel expenses. The business card is accepted at thousands of Chevron and Texaco stations for gas, tires, batteries, and more.
Reports to: Dun & Bradstreet
Approval Requirements: You need your EIN and D&B Paydex score of 75 or higher. Also need to be in business for at least 18 months to avoid supplying a personal guarantor. You may need to supply a personal guarantor if your business is declined based on its business credit reports. You may have a better chance getting a no PG if you submit a hard copy application since the online app will not allow you to submit your app without one. The hard application is available in the downloads section below.
Payment Terms: Revolving
CLICK HERE to Apply
Revolving Business Credit Line Applications
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Task to Complete
Select the revolving business credit accounts you qualify for and want to apply with.
