Wallet Protection
How much does Discover Wallet Protection currently cost monthly?
$3.99
What APR are purchases subject to while on benefit?
Purchases made do not accrue interest during the benefit period
TRUE/FALSE- Transaction Add-Ons (TAOs) are still available for ITP product levels.
False
TRUE/FALSE- ECS may contact DPS to confirm Power of Attorney for an ITP or WLP membership on file at Discover Card.
true
How many billing periods can we refund if a customer states they never signed up for a protection product?
A refund for up to six billing periods
The Wallet Reimbursement feature of Discover Wallet Protection offers ______ to cover the replacement cost of a customer's wallet or purse.
$100
What type of document must a customer provide to Discover when they submit a debt cancellation request for Payment Protection?
A copy of the state-issued death certificate
Identity Theft Protection customers receive daily credit report monitoring. What happens if we don't detect any changes to their credit bureau report?
a “no news is good news” alert notification is sent to the customer every 30 days (online)/ 90 days (offline)
What do you select in PEARL when a customer no longer wants their protection product?
The proper cancellation reason
Which products are not available for re-purchase?
DPP, WLP, and ITP Migrated Product levels only
TRUE/FALSE- A customer can only cancel the wallet protection by calling in
False- Customers have the ability to cancel their Wallet Protection membership online. Once the customer logs in to their Wallet Protection via the Account Center, they will see Cancel Your Membership under the Your Membership and Fees section.
Which three places in ORION indicate when a cardmember is on an active Payment Protection Benefit?
Warning and account notes
F7-products screen(pearl)
Monthly billing statement (under messages)
What happens to the ITP membership if a cm updates their address to a foreign address?
ITP members with a foreign address will be canceled out of their membership.
What happens to a customer's product if the customer moves from a death benefit-eligible state to a state that is not death benefit eligible?
Customer will be sent a communication 45 days in advance notifying them of the change in terms and price
Which scenarios can the DPS SME remove any applicable late fee/delinquency occurrences?
Which Wallet Protection feature requires activation and a disclosure recording when a customer loses their purse or wallet?
180-day credit monitoring
Payments are paused immediately. However, if the customer is past due or if a minimum payment is due within how many days where the customer is still responsible for making the current payment due and/or past due amount
5 days
When adding an additional user to the ITP 3B product, how much time does the additional user have to take action before the referral expires?
Once the referral is sent, it will expire if the Additional User member who it was sent to does not take action (generally expires within 30 days)
What happens to an account when the system automatically cancels a protection product because the customer has passed away?
It will receive a refund of all the product fees and related interest charged on or as of the date of death.
Who has the authority to cancel a protection product?
The primary or secondary customer, a poa agent or other authorized third party
Who does Wallet Protection cover?
Anyone over the age of 18 who lives at the address listed on the account and dependent children over 18 who are full-time students
Length of Benefit/Restrictions- name at least 3 qualifying events
Adoption or Birth of a child
Divorce
Graduation
Marriage
Move
New Job or promotion
Retirement
What 3 things does the additional user’s membership for ITP not receive?
cannot add children or any other individuals under own ITP membership
will not receive no news/good news correspondences
cannot opt into text alerts (they will have email alerts only)
If the Protection Product cancel reason is Already Cancelled Still Billing, what do you need to include in the memos?
The date the customer says they canceled or attempted to cancel with us
BD could not be dispositioned, e.g., customer hangs up before connected to BD agent, written benefit activation request, etc.
Pearl will send a letter requesting the customer to call within ___days or else that product is cancelled.
45 days