Big Changes with WEX Fleet Cards Regarding Personal Guarantees

Wrights Express, or WEX,  is a universal fleet fuel card provider associated with a number of stations across the U.S. They offer a number of fuel card rewards programs and benefits designed to cater to a business’s specific needs and gas station preference. 

Historically, they have also been one of the only credit issuers that a company could get a business credit card from without a personal guarantee. Unfortunately, this is no longer the case.

WEX Now Requires a Personal Guarantee on Business Fleet Cards 

As of Friday, May 13th, 2022, WEX now requires a personal guarantee on any business credit card they issue. This is a big change that is going to rock the fleet credit world. In fact, it may even be the biggest change with the most impact on business credit in the past 10 years.

What Does this Mean for Businesses?

It’s going to make it hard for a lot of businesses to get a credit card or account to manage company automobiles. Trucking company owners looking to add a business credit card to manage their fleet are going to be hit the hardest. They aren’t the only ones though. Any company that wants to use fleet credit is likely to struggle.

Why Will the WEX Personal Guarantee Requirement Cause Some Business Owners to Struggle?

Before the change, WEX was one of the few fuel card options for business owners that do not have good consumer credit. They could access a WEX fuel card on the merits of their business credit only. Then, they could take care of fleet related expenses using the business credit card regardless of consumer credit.

Approval Based Only On Business Credit History No Longer an Option

Now, this is no longer an option. With the added requirement of a personal guarantee, business owners with bad credit will have a harder time getting the fleet fuel cards that they need.

Why Did WEX Change Their  Personal Guarantee Requirements for Business Credit Cards?

Most business credit cards already require a personal guarantee. There are a select few that do not, and with this change, the number is even fewer

The reasoning behind the WEX decision is that it helps prevent fraud. The addition of a consumer credit check and personal guarantee requirement is thought by WEX to be a way to help prevent fraud.

They see it as a layer of protection for both themselves and the small business owners they serve with business credit cards. Of course, in the end, this policy reduces risk for WEX and increases personal risk and personal liability for business owners. This is because by definition, a personal guarantee means if the business defaults, the business owner is responsible for the debt.

How Big Of An Impact Will This Change Have on the Ability to Get a Business Credit Card for Fuel?

Honestly, it’s big. Just to give you an idea, here is a list of brands affected in addition to WEX’s own brand.

WEX Associated Fuel Card Brands

  • 7-Eleven
  • 76®  
  • Chevron and Texaco  
  • Circle K
  • CITGO
  • DK
  • ExxonMobil  
  • GetFleet
  • Gulf
  • Irving Commercial 
  • Kum & Go
  • MAPCO
  • Marathon
  • Maverik
  • Meijer
  • Murphy USA
  • Phillips 66®
  • QuikTrip
  • RaceTrac
  • Royal Farms
  • Sheetz
  • Shell  
  • Sinclair
  • Speedway  
  • Stripes
  • Sunoco
  • Tesoro
  • Thorntons
  • Valero
  • Wawa

As you can see from this list, the ripples caused by this monumental  change are far reaching. Add in the fact that often this type of credit card isn’t just for fuel purchases, and the impact is even larger. Sometimes they aren’t even limited to purchases at gas stations. In addition to fuel purchases, many fuel cards can be used to pay for fleet maintenance, car washes, and even snacks at gas stations.

What Can You Do?

The big question, if you fall into the rather large category of those needing to access business credit fleet fuel cards that do not have the best consumer credit, is what now? Well, now is the time to double down on both business credit and consumer credit.

Build Credit for Your Business

Building business credit is more important than ever. That’s because if you do have great company credit, your consumer credit may not weigh as heavily into the approval decision.

Business Credit Can Help With More Than Approval

Beyond that, it can affect the terms, limits, and rates you receive. A consumer credit score that is just okay along with a great company credit score is going to do a lot better than two just okay scores. This is true with most any credit card for businesses, not just fleet fuel cards.

Business Credit Still Matters

Whatever you do, do not let business credit go by the wayside simply because consumer credit is now going to come into play when you apply for a WEX fuel card.

The stronger it is, the more likely you are to get approval for WEX fleet fuel cards, and any other credit card for your business for that matter, even if your personal credit is lower than those who make approval decisions would like.

Still, it may be harder to get fleet fuel cards initially, before you have established business credit, if your consumer credit does not meet the WEX requirements for a personal guarantee.

WEX is Still Useful for Building Credit For Your Business

It’s important to note that WEX is still one of the few credit card providers for businesses that report to the business credit bureaus.

That means their fleet fuel cards are still useful not just for managing cash flow and expenses, but also for building business credit.

You just have to be more aware of your personal credit and ensure your company credit is as strong as possible before you apply for a fuel card from them.

Can You Still Access Business Gas Cards?

Yes! There are still options for Business Fuel Credit Cards without a personal guarantee, it may just require a little additional work to get there. You need to build business credit in the fastest, most effective way possible. That’s where Credit Suite can help.

Not only can we help you build your credit for your business, but we can also help you find the best business credit cards and accounts for your specific needs.

The post Big Changes with WEX Fleet Cards Regarding Personal Guarantees appeared first on Credit Suite.

Google’s Advice for Surviving Algorithm Changes

In case you missed it, Google just published advice for SEOs on how to continually do well throughout their algorithm changes.

Now, what most people don’t know is Google doesn’t just push out a handful of algorithm changes per year.

They publish substantially more.

Just to give you an idea of how often Google changes, they had 3,200 algorithm changes in just 1 year.

You heard me right, 3,200 changes.

That’s a lot!

So instead of focusing on one algorithm update that you may read about, you need to focus on making your site compatible with Google’s core goal.

First I’ll go over the advice they are telling us all to follow… and then I’ll break down what it really means.

Google’s advice to SEOs

Just like most of their announcements, Google tends to be vague. But of course, they did mention that you should focus on content.

What’s interesting, though, is they did give a list of questions that you should ask yourself with your existing and new content.

But as I mentioned they are vague… so I decided to do something a bit unique. Next to each question that Google provides (in the color black), you’ll find my thoughts on what I think Google is trying to tell you (in the color orange).

Here goes:

Content and quality questions

  • Does the content provide original information, reporting, research, or analysis? – Although Google doesn’t penalize for duplicate content, they are looking for new, fresh content. With over a billion blogs on the Internet, there is a lot of regurgitated content out there these days.
  • Does the content provide a substantial, complete, or comprehensive description of the topic? – When a user performs a search, Google wants to give them what they are looking for with the least amount of work. They don’t want to have the user go to multiple sites to get their answer. Pages that are thorough and answer all parts of the user’s search query are more likely to rank. In other words, if you write thin content, it probably isn’t satisfactory for the searcher, which means you may not rank as high as you want.
  • Does the content provide insightful analysis or interesting information that is beyond obvious? – Does your content have more to offer than what your competition is producing? Go above and beyond by providing additional analysis or drawing your own conclusions using additional data that may be helpful to the reader.
  • If the content draws on other sources, does it avoid simply copying or rewriting those sources and instead provide substantial additional value and originality? – Don’t just copy and paste someone else’s content then link to them and provide a few lines of commentary. If you are going to reference someone else’s content, make sure you draw your own conclusions and the majority of the text on that page is unique and useful.
  • Does the headline and/or page title provide a descriptive, helpful summary of the content? – 8 out of 10 people read a headline and only 2 out of 10 people click through to read the rest. Your headlines not only need to be appealing, but they need to summarize the content. Don’t just focus on keywords or clickbait, focus on user experience with your headlines.
  • Does the headline and/or page title avoid being exaggerating or shocking in nature? – Google can tell if you are using clickbait as that typically causes a high bounce rate. If they see that people are going back to the SERP listing, it means that your content wasn’t up to par and you just used clickbait to trick searchers.
  • Is this the sort of page you’d want to bookmark, share with a friend, or recommend? – As Eric Schmidt, the ex-CEO of Google, once said, brands are the solution. Google prefers ranking brands, so don’t prioritize SEO. Focus first on your user. Make them love your content, your product, and your service.
  • Would you expect to see this content in or referenced by a printed magazine, encyclopedia, or book? – If you think your content is so great you are willing to print it out and hang it up on your wall, you have done a great job. If you are just creating content for the sake of it, people will be able to tell.

Expertise questions

  • Does the content present information in a way that makes you want to trust it, such as clear sourcing, evidence of the expertise involved, background about the author or the site that publishes it, such as through links to an author page or a site’s About page? – The best way to position yourself as an expert is to use data and cite your sources. In addition, if you are going to be an expert, make sure you have your name on the page and even link to your bio.
  • If you researched the site producing the content, would you come away with an impression that it is well-trusted or widely-recognized as an authority on its topic? – Compared to your competition how are you seen? If you are more respected and more popular, it shows that you are potentially an expert. You should work on your brand queries as it will help get you more visibility.
  • Is this content written by an expert or enthusiast who demonstrably knows the topic well? – Are you faking it or are you clearly an expert on this topic? Sure, I can research the law and write content about the law, but I am not a lawyer and it would be obvious. Write about what you know, and if you don’t know it, go learn it really well first before writing about it.
  • Is the content free from easily-verified factual errors? – Creating fake news will hurt you. Don’t contribute false information to the web. If you write a few pieces with false information and Google catches on, it could potentially damage your whole site.
  • Would you feel comfortable trusting this content for issues relating to your money or your life? – If someone does a search on Google and lands on your site, what will happen if they read your content? If they continue on to another site and continually researches, it means that they don’t trust you enough yet. Not only is it important for you to create amazing content, but you need to show the reader why you are a credible source and why they should pay attention to you instead of someone else in the space.

Presentation and production questions

  • Is the content free from spelling or stylistic issues? – Check your content for grammar and spelling errors. Once you do that, make sure your content is easy to read. For example, having a neon font color on a white background is hard to read.
  • Was the content produced well, or does it appear sloppy or hastily produced? – Spend time making sure the content you put out on the web is polished. From custom graphics and videos to images and podcasts, make sure the overall experience is great. Write good content isn’t enough as everyone is doing that these days.
  • Is the content mass-produced by or outsourced to a large number of creators, or spread across a large network of sites, so that individual pages or sites don’t get as much attention or care? – Google wants individual pages to fully answer searchers questions. If someone is looking for an answer and you link out to a lot of other sites to explain your answer, then you aren’t creating the best experience. Focus on creating an amazing experience not only from a site level but from an individual page level too.
  • Does the content have an excessive amount of ads that distract from or interfere with the main content? – Your website needs to load fast. Ads slow down a site and can ruin the user experience. Monetizing shouldn’t be the core focus of your site, instead, it should be to educate and help visitors.
  • Does content display well for mobile devices when viewed on them? – Roughly 60% of searches on Google happen on mobile devices. Your content needs to be mobile and tablet friendly.

Comparative questions

  • Does the content provide substantial value when compared to other pages in search results? – If you are trying to rank for a keyword, look at the top 10 pages that currently take up page 1 and make sure your content is better and more thorough than what is already ranking. If you don’t create something that is superior in quality, there is no reason for Google to place your site above the competition.
  • Does the content seem to be serving the genuine interests of visitors to the site or does it seem to exist solely by someone attempting to guess what might rank well in search engines? – Don’t write content for search engines. Write for humans first as Google’s goal is to satisfy humans. Even in the short run if this means you won’t rank as high, that’s fine. Eventually, Google will figure it out and your content will rank higher over time as long as you are focusing on the end-user.

Conclusion

There were a few other things Google mentioned, such as their quality guidelines, but there was one really important thing that they mentioned.

It’s also important to understand that search engines like Google do not understand content the way human beings do. Instead, we look for signals we can gather about content and understand how those correlate with how humans assess relevance.

Google’s wants to please you, not the version of you that is a marketer or an entrepreneur, but the version of you that uses Google on a daily basis.

When you perform a Google search, are you happy with the results?

If you aren’t, you aren’t going to tell Google with your words as there isn’t an easy way to do that. That’s why they look at signals, such as click-through-rates or how many people hit the back button so they can go back to Google and click on the next listing.

Instead of focusing on SEO, the real trick to winning is to focus on the user.

Go above and beyond and do what is best for them even if you feel it will hurt your rankings in the short run. Because in the long run, Google will figure it out and you should rank better if you are genuinely putting the user first and doing a better job than your competition.

So, what do you think of Google’s advice to SEOs?

The post Google’s Advice for Surviving Algorithm Changes appeared first on Neil Patel.

Impact Of Recent Facebook Changes On Paper.Li

June 19, 2018 In April 2018, Facebook announced a series of changes on their newsroom and developer blog which have had an effect on Paper.li and all services using their API (Application Programming Interface), the software that allows two different services to work together. Some of these policy reforms are the result of Facebook’s audit in the aftermath… Read more »

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