Credit Card Basics & Card Policy Violations - PowerPoint Presentation

Slide1

Credit Card Basics & Card Policy Violations

Session Goals

Greater understanding of the different types of functionalityTop card policy violations seen in Procurement

Types of Credit Cards

ProcurementTravelProcurement & TravelDeclining Balance

Procurement Card

Everyday purchases allowed

Office, lab and classroom suppliesMemberships – Dues

No single

p

urchase

o

ver $5,000 allowed (These purchases go through Procurement Services)

Travel Card

Travel

p

urchases 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

c

harges

Declining Balance Card

Set dollar

a

mount

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

A

llowed Cash Advances

All UD Credit Cards Have A PIN

UD Credit Card Policy 5-22

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

d

ocumentation 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

L

imit) – 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?

Splitting a transactionBuying lab supplies at the end of the monthUsing a detailed packing slip for supporting documentation

What type of card allows you to withdraw cash?

Purchasing

TravelPurchasing & TravelDeclining Balance Card

What is the transaction/charge limit?

The total amount you can spend in a billing period.

The amount you can spent on one purchase.The amount you can spend in a single day.

Questions?

Kathy Roeder

katroe@udel.edu

831-2159

Margot Martin

margotm@udel.edu

831-2162