Complete Story
02/08/2024
Close to a Third of Employees Use Company Credit Cards for Personal Expenses
Some says that's not necessarily a problem
A company credit card can remove a lot of administrative hassle when reimbursing employees for company purchases and travel. But just what are your employees doing with their company cards?
Upgraded Points, a travel site that focuses on strategies for maximizing rewards and travel perks, recently looked at how employees use company credit cards. Here's their breakdown of how many respondents use their cards for various types of expenditures:
- Business Travel Expenses (64.8 percent)
- Meals/Entertaining clients (55.8 percent)
- Office Equipment/Technology (55 percent)
- Everyday Tools (54 percent)
- Employee Gifts/Rewards (36.4 percent)
- Professional Development or Training (35.8 percent)
- Personal Expenses (26.8 percent)
While it may seem a little shocking that so many people had personal expenses on their company credit cards, the report also pointed out that 23 percent of businesses explicitly allow employees to use company credit cards for personal use.
Please select this link to read the complete article from Inc.
