A cardholder agreement is a legal document outlining the terms under which a credit card is offered to a customer. Among other provisions, the cardholder agreement states the annual percentage rate (APR) of the card, as well as how the card’s minimum payments are calculated.

Is a credit card transaction a contract?

A credit card agreement is a contract that details the fees, rates and other provisions a business is subject to when it signs up for and uses a credit card processing service.

Who is responsible for repayment of charges on a credit card?

Yes. When you have a joint account, each account holder is responsible for the full amount of the balance. The credit card company can seek to collect the amount due from either account holder. If you no longer want to be responsible for the joint account, contact your credit card company to learn your options.

When to use a corporate credit card use agreement?

This sample Corporate Credit Card Use Agreement template is written for use in a situation in which a company provides a corporate card for employee use. The agreement is styled to be favorable to the employer and holds the employee personally responsible for charges associated with misuse of the card.

Who is responsible for paying a corporate credit card?

Two Types of Cards There are generally two types of corporate cards. With the vast majority, the employee gets a card from his or her employer, the bill goes to the employer, and the employer is completely responsible for payment. In those cases, the employee is an authorized user and is not responsible to the card company for payment.

Do you have to sign a credit card agreement?

When our company gives you a credit card, you’ll need to sign and abide by a credit card agreement. This is to acknowledge that the credit card belongs to our company and that we can process and investigate charges as we see fit.

What is a corporate credit card policy template?

Here are some tips to get it right plus a fully customizable corporate credit card policy template and sample. What is a corporate credit card policy? A credit card policy is part of a company’s accounting policies. It clarifies the terms of use of a company card issued in employees’ names.