Plan B
Believe it or not
The Back Up to the Back Up
Snap into
Affirm
Affirm
Finance 101
100
What is the finance charge for Fortiva?
7.99%
100
The guest pays us their initial down payment for Acima
False
100
Can we take down payments on Koalafi sales?
No
explain why
100
What is the finance charge for Affirm?
2.99%
100
What does deferred interest mean?
Interest charges are delayed for the promotional period as long as paid in full by end of the promotion.
200
What are the amount of months that are assigned to a guest with all secondary companies?
6
12
Full APR 34.99%
200
The customer pays off a 12-month promo in 13 months, they will pay the full amount of the purchase in interest from the beginning of the promo.
True
200
Which of the tertiary companies do we include tax on?
SNAP
200
Can you take accessories home the day of the sale if a guest purchased with Affirm?
Yes, because we are paid right away.
200
The maximum amount a customer is approved to spend using their financing account.
Credit Limit
300
When does a Fortiva authorization expire?
1 year
300
The fixed APR with Synchrony can be used on all sale amounts.
True
300
On top of the automatic 10% credit limit increase available, can you request a larger increase with Progressive?
yes, you can call and request an extra $200
300
DAILY DOUBLE
Upon approval, a guest can be approved for up to how many months with Affirm?
Are all terms interest-free?
6-24 months
upon approval, only the 3 and 6 month options are 0%
300
Being under contract with Synchrony, are we allowed to advertise any other Primary company?
NO
WHY?
400
DAILY DOUBLE
Can you request an increase with any of our Secondary companies?
No
400
If a guest has an existing Synchrony account and they do an authorization to buy new furniture, it will be visable on your credit report.
What is false
***if a customer only has an authorization on their account at the time of closing, it will not report. I also had an initial concern regarding the available balance; however, credit utilization will not be reported until the customer’s purchase has posted and funded.
400
Can you have multiple leases at once with Koalafi?
Yes
They must have been delivered first. Their line of credit that they were approved for is revolving.
400
Can you have multiple leases with SNAP?
Yes, they have 30 days to use their entire open to buy.
400
What do we tell a new Sychrony guest at time of checkout?
You will receive a welcome package in the mail in about 2 weeks. That will contain a welcome letter and your card. Please call to activate your card for easier use with future purchases. You will receive your first bill 3-4 weeks after your first delivery.
500
If a guest is approved through Concora for $2000 and they only use $1500, can they come back after their purchase and use the other $500?
Yes, because it's a revolving credit
500
Lendmark is open and can you get a guest approved on the weekend?
The local branch is not open, but you can send the application to the corporate office.
this is not a quick process, BUT it can be done
500
When does a guest make their first payment on tertiary companies?
When a guest applies, tell the tertiary company how often they get paid, and when their last paycheck was. Once they are delivered, they will be auto drafted on their next payday.
500
What is the longest term a guest could get with SNAP?
18 months
500
Do we accept this Synchrony card?
Yes, but it is run as a regular credit card which is interest-bearing.