University of Newcastle staff rack up $19m credit card bill

A recent audit at the University of Newcastle revealed that the 1,001 employees that had corporate credit cards managed to spend $19 million last year.

According to the educational establishment, many of those issued to workers were for travel or repeat supplies.

The processes surrounding use of the university's plastic were questioned by New South Wales auditor Peter Achterstraat, who recommended that a complete review be conducted.

Nearly 15 per cent of employees used their credit cards for personal expenditure, although all but $2,625 had been recovered by the end of the year.

A spokesperson for the establishment said: "The university agrees the number of credit cards needs to be reduced and a reduction program is already being implemented."

With 293 cards suspended and 46 cancelled last year, some staff may be going online to compare credit cards to get their own plastic.

This comes after a study by RMIT University found that men are more likely to make impulse purchases than women, reported the Herald Sun.

Have a question about credit cards? Ask the money gurus at Mozo AnswersADNFCR-1761-ID-800558335-ADNFCR