Credit Card Basics Card Policy Violations Session Goals

Credit Card Basics & Card Policy Violations

Session Goals • Greater understanding of the different types of functionality • Top card policy violations seen in Procurement

Types of Credit Cards • Procurement • Travel • Procurement & Travel • Declining Balance

Procurement Card • Everyday purchases allowed • Office, lab and classroom supplies • Memberships – Dues • No single purchase over $5, 000 allowed (These purchases go through Procurement Services)

Travel Card • Travel purchases allowed (no other type of purchase) • Baggage Fees • Seat selection • Gas for Rental Car

Procurement & Travel Card • Allows every day purchasing (Office, Lab, Classroom Supplies Etc. ) • Travel purchases allowed • Default limits • No split charges

Declining Balance Card • Set dollar amount • Cash withdrawal allowed • Expiration date of funds

Universal Truths All Cards Have Limits All Purchases Over $5, 000 Go Through Procurement Services Only Declining Balance Cards Are Allowed Cash Advances All UD Credit Cards Have A PIN

UD Credit Card Policy 5 -22 includes • Appropriate Card Usage • Responsibilities and Roles Pertaining to Approval and Allocation • How to Handle Fraud/Disputes

Appropriate Card Usage • Must not be used for personal or non-university purposes • Only cardholder whose name is embossed on the credit card is authorized to use the card. • Cannot split the charges to fit the card limit • Must obtain support documentation from vendor for all transactions $25. 00 and over.

Responsibilities and Roles Pertaining to Approval and Allocation • Cardholder is responsible for verifying all transactions against support documentation • Verify transactions in online system personally or through proxy (30 Days - Sign off) • After transactions are checked and cardholder sign off is complete. All receipts and support documentation should be forwarded to the department’s card administrator.

Fraud/Disputes • Fraud Charges should be reported to the bank at 1 -866 -500 -8262 and current card closed • Disputed charge should be resolved with merchant (30 Days) • Unresolved charges 30 Days or over dispute with bank (60 Days) • Nature of dispute and final resolution should be noted and retained as supporting documentation for charge

Important Definitions • Supporting Documentation – Merchant produced document that shows quantities, amounts, dates, participants and description of what was purchased. • Proxy – Individual designated by the cardholder or department who preforms all of the cardholder’s administrative functions. • Transaction/Charge Limit (Single Purchase Limit) – The total dollar amount allowed for any single transaction made by the cardholder. • Monthly Spending Limit (Cycle Limit) – The total dollar amount assigned to the cardholder for all charges made during each monthly billing cycle.

Which of the following would Constitute a Card Policy Violation? A. Splitting a transaction B. Buying lab supplies at the end of the month C. Using a detailed packing slip for supporting documentation

What type of card allows you to withdraw cash? A. Purchasing B. Travel C. Purchasing & Travel D. Declining Balance Card

What is the transaction/charge limit? A. The total amount you can spend in a billing period. B. The amount you can spent on one purchase. C. The amount you can spend in a single day.

Questions? Kathy Roeder katroe@udel. edu 831 -2159 Margot Martin margotm@udel. edu 831 -2162