How does the fuel card work and what are the benefits?
We’ve partnered with TCS to offer the Convoy fuel card, which enables carriers to save an industry-leading average of $0.63 (based on actual carrier savings from Q2 of 2020) per gallon at the pump. The Convoy fuel card is accepted at more than 1,000 stations across the country, including TA-Petro, Ambest, Roady’s and Sapp Bros, and includes no transaction fees at in-network truck stops. Our new in-app integration also includes an interactive map of stations and fuel prices, allowing drivers to quickly locate the lowest fuel prices on their route and eliminate paying too much at the pump.
Is the Convoy fuel card available to every carrier?
Yes, the Convoy fuel card is available to all carriers in Convoy’s network.
How can I sign up for the Convoy Fuel Card?
Do carriers have to sign up for Convoy Factoring in order to sign up for the Convoy fuel card?
No, however carriers who sign up for Convoy Factoring may receive an automatic line of credit for their fuel card through Apex Capital. Carriers not signed up for Convoy Factoring will need to set up a line of credit (see the question below for additional information)
What credit line will carriers need for their fuel card?
Carriers who choose not to factor with Convoy will be responsible for securing their own credit line (no minimum required).
How does a carrier who is not using Convoy Factoring secure a credit line for the fuel card?
All TCS Fuel Card accounts are 100% financially secured either by a cash security deposit or a third-party credit line for qualified carriers. Third-party credit lines include Credit Insurance Policies, Letters of Guaranty, and Letters of Credit. The value of the third-party credit lines will be determined solely by the third party, based on your credit needs and the third party’s underwriting practices