Policy
Corporate Card Policy (FIN-2026-03-19) Issued: March 19, 2026 | Updated: March 19, 2026
Overview of the Corporate Card Program
1.1 Purpose
The University Corporate Card program is a modern approach to purchasing that empowers Fordham employees to streamline processes while acting as responsible stewards of University resources. By providing Fordham employees with secure, University-issued credit cards, Fordham will:
- Accelerate Purchasing: Quickly acquire goods and services.
- Centralize Spending: Gain visibility into your department’s spending habits through a centralized platform.
- Negotiate Better Deals: Leverage collective purchase power to secure discounts from suppliers.
- Enhance Security: Implement security measures to protect against fraud and misuse.
- Simplify Reconciliation: Automate expense reporting and reconciliation, saving time and effort.
- Promote responsible spending: Rely on cardholders to make prudent purchasing decisions, eliminating unnecessary or frivolous expenditures while supporting the University’s core mission.
A Corporate Card is a credit card issued by the Office of Strategic Sourcing to a department to make direct purchases from vendors and for travel related purposes. The card is issued in an employee’s name and may be used for certain low-dollar, business-related purchases. There are per transaction and monthly dollar limits on the cards, as well as certain goods and services that are prohibited from payment by Corporate Card (see section 4 below). Since the Corporate Card is a University liability, the bill is paid centrally by Fordham for all balances; no purchase order or reimbursement process is necessary.
This document outlines the roles and responsibilities of Cardholders and Corporate Card Approvers, including instructions for the issuance and use of the Corporate Card, procedures for transaction reconciliation and review, and allowable and restricted purchases.
To ensure the integrity of the University Corporate Card program and safeguard Fordham’s resources, it is crucial to use Corporate Cards responsibly. Misuse of these cards, such as unauthorized purchases or fraudulent activity, is prohibited and has consequences as described below.
By adhering to these guidelines, Fordham can maintain financial accountability, prevent unnecessary expenses, and uphold the highest standards of ethical conduct.
1.2 Benefits
Use of the Corporate Card will:
- Speed up the procure to pay cycle
- Reduce the number of purchase orders and requisitions for low-cost, low-risk purchases
- Allow Fordham to meet its contractual obligations
- Eliminate the processing of after-sale invoicing