This sample policy is designed to help companies establish the appropriate business use, responsibilities and authorization for company credit cards. The policy should apply to all employees who are authorized to use a company credit card, including their supervisors, across all company locations and departments. It specifies the roles and responsibilities of different personnel, from the CEO to the accounting staff, in managing and overseeing credit card usage.  

The document also details the expense authorization and reimbursement process and sets out the consequences for misuse of company credit cards. In addition, it provides guidance on using specific software tools for monitoring and managing credit card expenses. Overall, this policy is designed to ensure financial accountability, transparency and effective internal controls within the company.

Best-practice credit card procedures include:  

• Authorization for the issuance of a credit card can be obtained by initiating a credit card request form.  
• An executive-level manager and the CEO, president or CFO must approve the form.  
• Credit card request forms are located on the company’s HR network.  
• Company employee credit card charges are billed to and paid for by the company and accounting personnel reconcile all charges to the employee’s T&E report(s).