Acima Policies & Facts
Which company did Acima recently merge with?
Rent-A-Center
DOUBLE JEOPARDY
Which state is it required to charge tax on the purchase and rent?
Hawaii
What is ADP?
ADP is the system we use to clock in, view our schedule, enroll in benefits, track payroll, etc.
What is the main soft skill we need to remember when it comes to customer service?
Empathy
Does LDW or Acima Benefits Plus have anything to do with insurance?
No!
What is Acima's Cell Phone policy?
NO CELL PHONES OUT ON THE FLOOR, this includes training
Explain Acima's Second Early Purchase option.
The discount ranges from 35%-55% depending on the state.
DOUBLE JEOPARDY
What is Doc360?
Doc360 is Acima's department reference guide website. This is where you should reference whenever you have questions on how to proceed with all aspects of your job.
What are the two main ways a customer can apply?
In-Store or Online
Can a customer cancel LDW or Benefit's Plus after funding?
Yes!
At what point do you start to qualify for PTO, Benefits, etc?
The first day of the month following 60 days of employment
How do you calculate the Total of Payments?
Acima Cash Price + Cost of Rental = Total Payments
What is InContact?
InContact is Acima's phone system. It is used for all inbound and outbound calls as well as emails and chats.
At What are the four basic Approval Requirements we ask from our customers?
1. 3-month history with current employer
2. At least $1,000 of monthly income
3. A traditional checking account
4. Checking account free of NSFs, overdrafts, and negative balances
DOUBLE JEOPARDY
In most states, how much does LDW cost?
10% of the customer's rental payment.
Name four categories of products that we lease
Electronics , Car/Boat/Motorcycle Audio , Recreational , Instruments , Storage Sheds & Outdoor Goods , Computers & Mobile , Furniture , Eyewear , Mattresses , Appliances , Jewelry , Tires/Wheels/Auto
What is Acima's First Early Purchase option and how is it calculated?
Acima Cash Price + Purchase Fee = First Early Purchase Option
A customer can purchase the lease early by paying the merchant invoice total, the markup, and the purchase fee.
It is either going to be a 90 day, 3 month, or 120 day term.
What is Portal?
Portal is Acima's lease tracking system used to track leases from Application to Funded. We use it to complete conditions, process the initial payment, and confirm delivery. Once the lease has completed all the steps in Portal, the lease begins and it is transitioned to LMS
With which eComm retailer do they have to apply 100% through the merchant's waterfall approval system?
Wayfair!
Explain what benefits are included in Acima Benefit's plus.
Discounts and deals for ID theft monitoring and dining/food
Payment Waivers toward their renewal payments if they lose their job
24/7 Health and Wellness Benefits
Name the four states we don't do business in.
New Jersey, Wisconsin, Minnesota, Wyoming
Explain what the markup and the initial payment are. What is the difference between them?
The markup is the cost we add to the merchant invoice total to make up the Acima Cash price. It is the cost of using our services. This is usually $50 but can be up to $80.
The initial payment is the payment the customer makes to initiate the lease agreement. It can range from $0 to $80.
The initial payment usually covers the markup, but not always. The markup is, however, always applied to the lease.
What is LMS? For Processing, what is LMS used for?
LMS is Acima's lease management system to manage payments, pay frequencies, etc on leases that have been Funded.
LMS is used for reference regarding a FUNDED lease or when looking into their previous lease history.
We only use it to gather information and we DO NOT adjust anything in the lease.
Briefly explain OTL and how they qualify.
Open to Lease allows a customer with an active lease, to get up to 4 additional leases in order to use their full approval amount.
In order to qualify for Open to Lease the following must be true: The first lease must be Current, The first lease must be active (if it’s closed it’s not Open to Lease), & The unused approval amount must be >= $100
What does LDW cover and not cover?
If the customer buys LDW, they will not have to pay Acima anything if the property is damaged by a natural disaster, fire or smoke, or theft.
LDW does not apply to the loss or damage of property that is caused by unexplained disappearance, abandonment, intentional acts caused by the customer, or as a result of willful or wanton misconduct.