Purchasing JPMorgan Mastercard Skip Navigation

Colgate University Corporate Card Procedures

The JPMorgan Chase MasterCard program (JPM) is a method for employees to charge university-related expenses on a credit card, eliminating the need to carry cash.

Who Is Eligible?

Any employee receiving University benefits is eligible to apply for a card.

Contact

If you have questions or concerns, please contact:

To Obtain a Card

Employees interested in obtaining a card, please follow these steps:
  1. Complete the JPMorgan credit card application and card agreement found under Accounting Policies and Forms, sign the form and forward to your supervisor for their approval.  Please note that on the application, you should provide the last 4 Digits Only of "Social Security Number" and the last 4 Letters Only of "Mother's Maiden Name." This is for identification purposes only. You will not receive any solicitations from JPMorgan by providing your contact information.

  2. Please then submit the approved application and card agreement to the Office of Accounting and Control.
    Typically, the credit card is received within two weeks in the Office of Accounting and Control; it is then forwarded to you for authorization and signature. You will need to contact JPMorgan to activate your card. If you do not receive your card within the above referenced time-frame, please contact the Accounting Office directly.

Using Your Card

  • The card can be used for travel and miscellaneous small-dollar purchases as you would use any other credit card. Please note that the university's travel policies and purchasing procedures must be followed. Your JPMorgan card cannot be used to purchase any single supply item costing over $500.00 without prior approval from the Purchasing Department.

  • Credit card transactions will be posted in Concur daily. You will need to submit expense reports along with supporting documentation through Concur within 20 days after the transaction date posted. Items in dispute must be so indicated, detailing the specific reason the charge is being contested.

  • Your university budget code(s) will be charged based on the fund/org you select and routed to the respective financial manager for their review and approval.

Business Use Only

The JPMorgan corporate card is the property of the university and is intended strictly for business use. For purposes of this policy, "Business Use" refers to expenses charged against an existing university budget code.

Expenses reimbursed by a third party (e.g., government agency or other entity) may be classified as "Business Use." Ongoing use of the card for expenses reimbursed by a third party must be initially approved by the Controller's Office. Such approval will be granted following one-time verification of the third party arrangement. (Please obtain "Third Party Verification" form from Accounting Office.) It is solely the responsibility of the employee to ensure the university is reimbursed by the reporting deadline.

Any expenses that are not charged against a university budget code or reimbursed by pre-approved third party, and borne by an employee are not considered business use, regardless of their purpose, and therefore is an unallowable use of the JPMorgan Chase card.

Policy

The granting of a university credit card is a privilege intended to assist employees in carrying out their university responsibilities. Willful misuse of the card will result in disciplinary measures, which could include termination of employment. Please keep in mind our longstanding policies, which include:
20-day reporting deadline
All reporting must be submitted to the Accounting Office within 20 days from the date of the monthly activity statement. Failure to do so will result in the card being suspended until receipts are submitted and/or restitution is made.
No "personal use" or non-business charges
Use of the JPMorgan Chase card to pay for any expenses not charged to a university budget code or reimbursed by a pre-approved third party are deemed "Personal use," regardless of the purpose(s) for which the expenses are incurred. Personal use of the university's credit card is prohibited.
Inadvertent "personal use" charges
In the event that you inadvertently use your JPMorgan Chase card for a personal charge, you are responsible for making restitution to the university immediately once the error is discovered.
Charges over university guidelines
In situations when a charge exceeds university guidelines (e.g., meals) the cardholder will reimburse the university for the overage at the time of submission of receipts to the supervisor, attaching a brief explanation to the expense summary. Those occurrences should be avoided and infrequent.
VIEW COMLPETE DESCRIPTION AND GUIDELINES
We appreciate your cooperation in implementing these new procedures. Please direct any questions to Tom O’Neill or Trish St Leger.