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FAQ

  1. What are the advantages of using the credit card?
  2. Is there an annual fee?
  3. What type of credit card is it?
  4. What is my personal liability? Can it affect my personal credit rating?
  5. What is the limit per purchase?
  6. Is there a monthly dollar limit?
  7. How do I make purchases?
  8. Can I purchase anything I want?
  9. It sounds good, but is there paperwork involved?
  10. Who monitors what I buy?
  11. Can I cancel my card at any time?
  12. If I change departments, can I keep my credit card?
  13. How can I become a cardholder?
  14. How long does it take to receive the card?
  15. Is training available?

1. What are the advantages of using the credit card?

The ease of making purchases with the Procurement Visa card gives the cardholder increased flexibility. Utilizing the card reduces the reliance on the procurement process, while increasing the cardholder's ability to take advantage of "sale" items. Vendor participation increases because vendors prefer a credit card in lieu of a purchase order (especially small businesses).

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2. Is there an annual fee?

No, U.S. Bank (the contract carrier) issues the Visa card free of charge."

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3. What type of credit card is it?

It is a corporate Visa card issued from U.S. Bank.

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4. What is my personal liability? Can it affect my personal credit rating?

The Visa is a corporate card with no individual liability. The cardholder is not required to furnish any personal data.

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5. What is the limit per purchase?

Typically up to $1,000 per transaction including tax, shipping and handling.

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6. Is there a monthly dollar limit?

Yes, the monthly limit is set by the Dean or Director, based on individual and budgetary needs.

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7. How do I make purchases?
You can make walk-in purchases, place telephone calls, catalog or fax orders.

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8. Can I purchase anything I want?

No, just like purchase orders, there are prohibited items.

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9. It sounds good, but is there paperwork involved?
Yes, cardholders must maintain a Monthly Purchasing Summary (PDF) and retain adequate receipts for all purchases. The cardholder is also responsible for recording the Monthly Purchasing Summary at the end of each monthly billing cycle.

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10. Who monitors what I buy?

It is the responsibility of each cardholder to make the appropriate purchases in accordance with program guidelines. It is the responsbility of each approving official to review and approve the cardholder's monthly purchases. In addition, periodic post audits are conducted and card privileges may be revoked for non-compliance.

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11. Can I cancel my card at any time?

Yes. To cancel your credit card, the approving official, Dean or Director, should notify the Program Administrator in writing.

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12. If I change departments, can I keep my credit card?

Upon departmental transfer, notification should be submitted by cardholder’s approving official to program administrator, and determination made to cancel the card or change departmental reporting, chartfield, hierarchy.

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13. How can I become a cardholder?

A "Participation Application" (PDF) is the only paperwork required by the prospective cardholder. It should be completed and forwarded to the Program Administrator in Procurement and Support Services to initiate the process. The Dean or Director's approval is required.

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14. How long does it take to receive the card?

10 to 15 working days.

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15. Is training available?

Yes, Procurement provides a mandatory training session for all new cardholders.

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