Overview
Four behaviors we execute daily
What are
-Commit to Win
-Own Your Role
-Build Trust
-Get Better Every Day
Where can customers use a Private Label?
Macy's/Bloomingdale's
What is Revolving Interest?
Charges assessed if the customer revolves a balance month-to-month.
What are the 5 North Star points?
- From Familiar to Favorite
- It Must Be Macy's
- Every experience Matters
- Funding our Future
- What's New What's Next
What is our purpose as Collections?
Our purpose is to reduce overall credit losses for Macy's, Inc.
Both Macy's and Bloomingdale's offer two different cards to its customers
What are Private Label and Single Line?
Where can customers use a Single Line?
Macy's/Bloomingdale's, Everywhere American Express is accepted
What is Residual Interest?
Charge assessed when a balance is paid in full after being carried month-to-month
Signature Service consists of...
- Acknowledge
- Listen & Engage
- Own and Resolve
What are the two types of calls we perform at West?
- Outbound
- Inbound
What are customer benefits of the credit program?
- Able to purchase without cash
- Able to buy big ticket items and pay them off over time
- Able to buy special event purchases with deferred interest
Which card has two statements and two due dates?
Classic Macy's/Bloomingdale's
What is Deferred Interest?
Interest charges on a promotional plan accrue but is not applied if the customer pays off the entire balance before the promotional plan expiration date.
List the four points of Acknowledge*
*Give examples of each for extra points
- Paraphrasing
- Observation
- Validation
- Identification
What is our Mission?
Help our customers by helping them reduce their debt and continue to enjoy their shopping experience
This card is no longer offered, but still exists
What is the Classic?
Are all purchases on a Classic listed on the same statement?
No.
Macy's/Bloomingdale's purchases will be on the Macy's/Bloomingdale's statement and everything outside of Macy's/Bloomingdale's will be on the American Express statement.
When is Deferred Interest charged?
When the customer does not pay off the balance before the promotional plan expiration date.
List the three points of Listen and Engage*
*Give examples of each for extra points
- Active Listening
- Use of positive language
- Reframing "No"
What two systems do we use for information lookup?
Knowledge Hug and MaRK
How does it benefit Macy's/Bloomingdale's to offer our customers credit?
- Customers spend more money
- It creates loyalty with our customers
- If a customer carries a balance, the company earns more money
How many statements does a Single Line have?
One.
What is the $2 charge called and where does it come from?
This is called Minimum Interest and this is assessed when the interest accrued for a month is less than or equal to $2.
List the two points of Own and Resolve*
*Give examples of each for extra points
- Issue Resolution
- Thinking Ahead or Next Issue Avoidance
What four KPI's do we use for evaluation in Collections?
- Quality
- BETS
- APPH
- Staff %