VCOM Institutional Policy and Procedure Manual

VCOM Policy and Procedure

Policy U0 20

issuer will terminate the card s if two charges occur in different l ocations that are not reasonably close in distance or proximity.

5.2

Safeguarding Charge Card s

Cardholders are responsible for safeguarding their charge cards to prevent unauthorized use. Please keep your card in a safe, secure location or place that is not readily accessible by anyone else. If c ardholder s think their card number s have been compromised or shared in an unauthorized manner, the c ardholder s shall contact the card iss uer and cancel the card s and notify the CFO immediately . The c ardholder s can ask for replacement card s when cancelling their compromised card s .

5.3

Lost or Stolen Charge Card s

Immediately upon noticing the charge c ards have been lost or stolen, c ardholders shall contact the card issuer and ask that their card s be cancelled. The c ardholder s can ask for replacement card s during t he same telephone conversation and notify the CFO of the theft.

5.4

Resolving Problems with Charge Card s

Cardholders shall call the card issuer to report and resolve an y and all issues with the VCOM c ard s or Dcard s . Frequently, the card issuer will ask ques tions to resolve charge card problem s that only c ardholder s can answer. The card issuer provides a telephone number on the charge cards that can be called to report an d resolve issues with the VCOM c ard s or Dcard s .

5.5

Increasing the Monthly Limit s on Charge Card s

M onthly limit s on the VCOM c ard s or Dcard s may be increased temporarily with the approval of the appropriate divisional officers to whom the Cardholder reports. The divisional officers also shall issue e - mail s to the President, the Chief Financial Officer, and the Card Administrator informing them of the temporarily limit increase , and the reasons or need s for the limit increase s . Ca rd limits will be reset to the prior limits at the end of the monthly billing cycle in which the limits were increased . Often the cap limits may not be altered by the credit card company so card holders should be careful to stay within their limits.

5.6

Unacceptable Usage s of Charge Card s

VCOM c ards or Dcards are to be utilized to purchase necessary, business - related goods and services. Travelers can and do incur personal, nonbusiness - related expenses while on business trips. However, t he VCOM c ard s or Dcard s shall not be used to pay personal , non - business relat ed expenses incurred while on business trips. Some examples of inappropriate uses of the VCOM charge cards are listed below.

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