Heloc Autopay
How does a client pay extra on their Heloc?
Are our card rates fixed or variable
Fixed, unless you have a UBT card.
What is the current Heloc Promo interest rate and how long is it for?
5.49% APR for 6 months
How many points does a Signature Card earn
1.5 points for every dollar spent
What should be included in client conversations
Asking about their current credit card
When do LRB Heloc statements cut
6th of the month
What are our 3 different card types
Classic, Platinum, Signature
How long is the waiting period before a client can qualify for the promo rate AFTER receiving a Heloc Promo
12 months from the previous Heloc
What is the min limit on a Signature Card
$5,000
Open ended, something that they can't answer Yes or No to to end the conversation. "Tell me about the interest rate on your current card"
When are LRB Heloc payments due
Due date is 28th of month
Do clients need to fill out a new app to increase their credit limit
No! Banker keys the limit increase into Decision Pro
How much new money do you need to add to an existing Heloc to receive the Promo
$25,000
How can a client pay their credit card on our website from an external account?
Bottom right corner of home page. "Make a Loan Payment"
What is the #1 thing you as a banker/lender can do to sell our cards to clients?
Understand the features and benefits of LRB Cards. If you don't understand them, you can't promote them.
What dates should you avoid when setting up autopay
1st-5th
What card product has the highest interchange
Signature, that's why we want to promote is as much as we can
What is our market trade area for lending
Loan Policy describes our trade area as Columbia, Dane, Dodge, Sauk, Jefferson, Rock, Green and Iowa.
What is our average credit line on our existing portfolio
$7000
How do you handle objections?
Don't take it personally, be respectful of their decision and be an active listener. Keep track of who you talk to and follow up with them a few months down the road. By following up, you might catch them when they are frustrated with their current card provider!
How is interest billed for Helocs
How many consumer credit cards is in LRB portfolio
7174
What is our Heloc Promo loan amount cap?
$400,000
What is our current credit card promo
What is a key feature of with LRB Credit Cards
Customizable Instant Issue cards.