VCOM Institutional Policy and Procedure Manual

VCOM Policy and Procedure

Policy U020

issuer will terminate the cards if two charges occur in different locations that are not reasonably close in distance or proximity.

5.2

Safeguarding Charge Cards

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 cardholders think their card numbers have been compromised or shared in an unauthorized manner, the cardholders shall contact the card issuer and cancel the cards and notify the CFO immediately. The cardholders can ask for replacement cards when cancelling their compromised cards.

5.3

Lost or Stolen Charge Cards

Immediately upon noticing the charge cards have been lost or stolen, cardholders shall contact the card issuer and ask that their cards be cancelled. The cardholders can ask for replacement cards during the same telephone conversation and notify the CFO of the theft.

5.4

Resolving Problems with Charge Cards

Cardholders shall call the card issuer to report and resolve any and all issues with the VCOM cards or Dcards. Frequently, the card issuer will ask questions to resolve charge card problems that only cardholders can answer. The card issuer provides a telephone number on the charge cards that can be called to report and resolve issues with the VCOM cards or Dcards.

5.5

Increasing the Monthly Limits on Charge Cards

Monthly limits on the VCOM cards or Dcards may be increased temporarily with the approval of the appropriate divisional officers to whom the Cardholder reports. The divisional officers also shall issue e-mails to the President, the Chief Financial Officer, and the Card Administrator informing them of the temporarily limit increase, and the reasons or needs for the limit increases. Card 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 Usages of Charge Cards

VCOM cards 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, the VCOM cards or Dcards shall not be used to pay personal, non-business related expenses incurred while on business trips. Some examples of inappropriate uses of the VCOM charge cards are listed below.

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