RANDOM
A transaction that increases the outstanding balance.
Debit
A customer calls in asking when will we inform the bureaus that she has already paid off her balance. What will you say to the customer?
We report to the bureaus 2-3 days after the billing cycle closed.
The only way a Walmart Rewards card can request for cash.
Quick Cash
A negative account balance created by payments or credits greater than the outstanding balance.
Credit Balance
Expediting the release of the available funds based on customer request and eligibility is called:
Release Pending Payment
An automatic increase to a customer's credit line that they didn't request
Proactive Credit Limit Increase Process (PCLIP)
Transferring debt from one credit card to another is called?
Balance Transfer
Ways a customer can still save money with their current interest rate.
What transactions are considered as cash advances or cash equivalents?
Wire transfers, travelers' checks, money orders, foreign currency, lottery tickets, gaming chips and wagers.
This is the 1st required information to process a Third party pay by phone.
Full credit card account number.
The average amount that exists in an account over a period of time. It is used to compute the interest charges for each segment.
The period of time customers have to pay their bill without being charged interest on transactions.
Grace Period
What causes a payment to be placed on hold?
1. Higher than usual payment amount.
2. Different bank acc was used.
3. Returned payments.
4. Payments greater than the credit limit.
Time frame to provide if the customer is expecting a refund that hasn't posted to the account.
3-10 business days
What are the possible reasons why a customer's minimum payment would increase?
1. They had an increase in the amount of transactions they made.
2. They were assessed with a late fee.
Information that the customer will be asked if they request for a credit limit increase
A card that is NOT eligible for a credit line increase request.
Secured Mastercard
The interest rate most U.S. commercial banks charge to their best customers.
Prime Rate
3 ways a customer with a Branded book/Walmart account can request for a Credit Limit Increase
1. IVR
2. Website
3. Mobile App
How do we calculate for the Periodic Rate?
APR/365
_________ is an account on which the payment required is any amount LESS THAN the total balance and the remaining balance carried forward is subject to applicable interest charges.
Revolving Credit/Account
What do we need to inform the customer if they want to dispute a pending transaction?
• Advise that the transaction is not yet final.
• It will either post or fall off within 5 days of the authorization.
• They may contact the merchant if they need the funds right away (if they haven't done so already).
• Contact us if the transaction still posts for us to report it.
Name three ways to avoid a late fee.
1. Set up autopay
2. Set up alerts
3. Change the due date
Name 3 ways on how to redeem rewards.
When can a customer expect the result of his credit line increase request?