Timely submission of expense reports to the RTS Office reduces the chance of encountering past due balances and the need for personal cash outlays for travel expenses. On or around the 15 th of each month, the card issuer will send cardholders a statement for all charges and payments posted prior to the monthly billing date of the 12 th . The balance indicated on the monthly statement is due upon receipt. Fees - There is no annual membership fee for the Corporate Card. These fees will be billed directly to the RTS Office and billed to an institutional account.
Late fees are the responsibility of the individual cardholder.
These fees vary from bank to bank and are charged to the corporate card as an addition to the amount of withdrawal. Once payment in full has posted to your corporate card account the bank's system will recognize the current status and the suspension will automatically be lifted. Once past due balances are paid in full, your card account will automatically be reopened. The card provider's Internal Collections Department will then send out written notification to the cardholder as a reminder that the account needs to be paid in full immediately. As our corporate card has joint liability between the card holder and WHOI, the card holders personal credit history is not affected by card suspension or revocation, unless the Institution request it.