CWT Traveler

December 2018

CWT

Credit card chaos: Travelers often misuse company cards for private use

A study commissioned by CWT has discovered that many business travelers use their company credit cards for private purchases. In Asia-Pacific, 38 percent of interviewees admitted doing so, while in Europe and America the figure was even higher at 46 percent. Although this practice is forbidden in most companies’ policies, it is obviously rife.

The reverse is also frequently true: Many travelers pay for business travel expenses with their personal credit card. Worldwide, almost half of employees who travel for business use their private credit card.

Both practices make it more difficult for companies to keep track of and evaluate travel data and analyze expenses. That is why it is important that travel managers address the misuse of company credit cards and find out why travelers do not follow the rules. Because it is not something they necessarily do intentionally – after all, not all employees even have a company credit card.

Around six in ten global business travelers are given a credit card by their employer – 67 percent in Asia-Pacific, 61 percent in America and 56 percent in Europe. Understandably, many companies do not want to hand out credit cards to all their employees. Virtual credit cards can be a good compromise. They mean that travelers don’t have to use their personal credit cards for business expenses, and companies know exactly how their money is being spent.

To find out more about virtual credit cards, ask your CWT contact person.

Photy by rawpixel-on-Unsplash

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