Travel Card Definitions

Terminology

Billing Cycle: The monthly billing period. This is the time frame your monthly credit limit is tied to. This cycle automatically resets on the 16th of every month. 

Cardholder: The employee whose name appears on the travel credit card. The employee authorized to make travel-related purchases on behalf of the university. 

Cardholder Agreement: The agreement signed by the person whose name appears on the travel card. This outlines the policies regarding the use of the travel card and must be signed by all persons receiving a travel card. 

MCC: Merchant Category Code (MCC) assigned to a merchant by Bank of America. This code identifies the primary goods or services provided by the merchant.  

MCCG: A grouping of merchants by Merchant Category Code (MCC).

Monthly Spending Limit: The maximum amount of available money a cardholder can spend within one billing cycle. The standard limit is $5,000. Different amounts may be requested by the department. 

Travel Card: A MasterCard sponsored credit card from Bank of America issued to an employee who travels or arranges travel for the University of Arkansas. 

Travel Card Administrator: The Business Services employee responsible for administering the travel card program for the University of Arkansas and acting as the main contact between the University and Bank of America. This employee is Keifran Melvin. He can be reached via email, keifranm@uark.edu  or phone, 479-718-1385.

Receipt/Documentation: A merchant-produced or non-university document that records the relevant details for each item purchased. Documentation should include and itemized dollar amount, description of what is purcahsed, the total charge amount, and the merchant's name and address.

Single Transaction Limit (STL): The maximum amount of money a cardholer can spend in one transaction/charge. The STL for most university travel cards is $2,000. A different amount may be requested by the department.

Transaction: A charge or credit associated with a travel card account.

Verification/Reconciliation Due Date: The last day in which travel card charges can be approved by the department and costs redistributed prior to payment being made to Bank of America. This is the deadline cardholders should have transactions verified on a submitted Expense Report in Workday.