In 1985 UT won a cost-savings incentive award from the National Association of College and University Business Officers for its plan to save up to $72,000 yearly by obtaining and issuing American Express credit cards to faculty and administrators who traveled on university business. Use of the card practically eliminated the need for cash advances for faculty travel.
UT initially paid $7.50 for each card issued. The individual to whom the card was issued was responsible for all charges, but UT assisted when American Express had difficulty collecting. The management reports issued by American Express then allowed UT to bargain for special rates with hotels and car rental companies. In 2009, with use of the program’s cards having decreased to a level below an acceptable minimum, the program was discontinued.