Auto Loans
What is our maximum loan amount for vehicle loans?
$200,000
What 2 credit card types do we currently offer?
Platinum Cash Back and Share Secured
How is the maximum PALOC limit determined?
Direct Deposit of the total of one month’s direct deposits to their Suncoast account from their employer or a benefit
25% of their verifiable gross monthly income using pay stubs or benefit statements.
Why does Suncoast offer ancillary products to our members?
Peace of mind and protection during a covered loss. Ancillary products can help members avoid financial hardships and keep their credit in good standing by protecting their loans.
How do we cancel a loan maintenance request if member changes their mind?
If the request requires a signature and the member has not signed the document then you can tell the member to ignore the DocuSign Document. After 10 days, the request will be removed from system.
If the request does not require a signature, then you will need to create a Loan Correction request ticket to modify the change.
Are private party purchase vehicles eligible for the Eco discount?
If all requirements are met, yes.
Hybrid, Plug-In Hybrid, or Electric vehicle
Must be a current or three previous model years
What is the minimum and maximum credit limits on platinum cash back cards?
$500 - $20,000
Can members have PALOC and Payday Payoff loan at the same time?
No
What is the working hours requirement for Credit Disability?
Must be working minimum of 25 hours per week
How often can a rate roll down be requested?
Once every 12mos
Explain our partnership with Caribou Financial Services
Caribou Financial is an online lending marketplace that specializes in auto refinances. Consumers can be pre-qualified for offers from a network of lenders, including Suncoast.
What members could benefit from a share secured card?
Members without an established credit history or with past credit challenges
When does member have to wait 6mo to reapply for a new PALOC?
If the PALOC becomes 20 days past due, once it is paid in full, member will need to wait 6mos to reapply
What happens to joint credit life if one member passes away?
The coverage ends and the claim is paid. There is only one death benefit per loan.
Are FI connect loan eligible for rate roll down?
No
What is the New Vehicle rate for Super Prime Elite tier and 84mo term?
4.75 + .75 = 5.5%
When members apply for an increase on a fixed platinum card, what disclosure and note is required in the application to move it forward to processing?
Member was advised on fixed to variable rate, and accepts.
What is the interest rate on Payday Payoff Loan?
16.50%
Match the product GAP or MRC: which goes with the vehicle and which goes with the loan?
MRC goes with the vehicle, so coverage can remain in force after loan is paid in full, or can add coverage to vehicle not financed with SCU.
GAP goes with the loan, so coverage ends when loan is paid in full, or refinanced.
If a member requests a term change to reduce their term, how does that affect the loan?
Reducing the term will increase the monthly payment, and more going towards principle which results in less interest paid over the life of the loan.
How do we determine LTV on vehicle loans?
LTV is determined by zest score and age of vehicle (sig plus collateral)
How do we submit a credit card dispute?
Member can dispute directly online, or we can assist via M3 through CASAP system
What are the benefits to the Payday Payoff Loan?
Direct pay to existing payday lenders
Lower interest rates
Flexible repayment options up to 24mo term
Name 2 ways to overcome objections to ancillary products
What months are covered by Summer Skips?
July and August