Construction Company Credit Card Policy Template

To establish a clear and effective credit card policy for your construction business, you'll need a comprehensive template that outlines the rules for using company-issued credit cards. This template should define permissible expenses, documentation requirements, and consequences for misuse, all while ensuring financial accountability and preventing fraud. A well-crafted credit card policy can help you manage construction expenses efficiently, much like construction expense management for under $10/user (2026), and save your business time and money in the long run. For a complete overview, see our expense management guide.

Construction Company Credit Card Policy Overview

The goal of this credit card policy is to ensure that company-issued credit cards are used responsibly and in accordance with [Company Name]'s financial goals and objectives. This policy outlines the rules and guidelines for using company-issued credit cards, including permissible expenses, documentation requirements, and consequences for misuse.

This policy applies to all employees who are issued company credit cards for business purposes. Employees are responsible for reading and understanding this policy and adhering to its terms.

This policy will be reviewed and updated annually, or as needed, to ensure that it remains relevant and effective in supporting the company's financial goals.

It is the responsibility of the [Office Manager/Accounting Manager] to enforce this policy and ensure that all employees are in compliance.

Any questions or concerns about this policy should be directed to the [Office Manager/Accounting Manager].

This policy is intended to provide a clear and concise framework for the use of company-issued credit cards. By following these guidelines, employees can help ensure that the company's financial resources are used efficiently and effectively.

Permissible Expenses and Reimbursement Guidelines

Company-issued credit cards may be used for business-related expenses, including:

• Travel expenses within the continental U.S. (CONUS) and outside the continental U.S. (OCONUS)
• Lodging, meals, and incidental expenses

For meals and incidental expenses (M&IE), the special rates are:

For incidental expenses only, the rate is $5 per day for any CONUS or OCONUS locality of travel.

Reimbursement for travel expenses will be made based on the above rates. Please keep receipts and other documentation for all expenses, as they may be required for reimbursement.

Documentation Requirements and Record-Keeping

It's essential to maintain accurate and detailed records of all credit card transactions to ensure transparency and accountability. The following guidelines must be followed:

• Each credit card transaction must be documented with a receipt or invoice, including the date, amount, and description of the purchase.
• A copy of the receipt or invoice must be attached to the credit card statement or submitted to the accounting department.
• All credit card statements must be reviewed and approved by the cardholder before submission to the accounting department.
• The accounting department must review and reconcile all credit card statements on a regular basis to ensure accuracy and identify any discrepancies.
• Any discrepancies or errors must be reported to the cardholder and corrected promptly.

Additionally, the following records must be maintained:

• A record of all approved credit card purchases, including the receipt or invoice attached to the credit card statement.

The accounting department must ensure that all records are accurate, complete, and up-to-date, and that they are retained for at least [time period] in accordance with company policies and applicable laws and regulations.

Consequences for Misuse and Misallocation

When using company-issued credit cards, employees must adhere to this policy. Misuse or misallocation of company credit cards may result in disciplinary action, up to and including termination of employment.

Specifically, the following actions will be considered misuse:

• Failing to report or reimburse the company for unauthorized or personal expenses
• Exceeding the approved spending limit without prior approval
• Using company credit cards for personal expenses or business expenses not approved by management
• Falsifying or altering receipts or expense reports

When a misuse is detected, the following steps will be taken:

1. The employee will be notified of the alleged misuse and given an opportunity to explain the situation
2. An investigation will be conducted to verify the facts
3. Disciplinary action will be taken based on the outcome of the investigation

Repayment of any unauthorized or misallocated expenses will be required, and the employee may be responsible for any late fees or interest charges incurred as a result of the misuse.

Ready-to-Copy Credit Card Policy Template

Please review and customize it according to your company's needs.

1. Credit Card Issuance

• The [Company Name] credit card is issued for business purposes only.
• Credit cards are issued to authorized personnel only.

2. Permissible Expenses

• Business-related expenses, such as materials, equipment, and services.
• Travel expenses, including transportation, lodging, and meals.
• Office supplies and equipment.

3. Reimbursement Guidelines

• Reimbursement requests must be submitted within [timeframe] of the expense date.
• Reimbursement requests must include the credit card receipt, invoice, or other supporting documentation.

4. Documentation Requirements and Record-Keeping

• Keep all credit card statements and receipts on file for [timeframe] years.
• Keep all reimbursement requests and supporting documentation on file for [timeframe] years.

5. Consequences for Misuse and Misallocation

• Failure to provide documentation or supporting materials for reimbursement requests will result in delayed reimbursement.