2. Visa Cards Features
• Low Rate Card • Rewards Visa
– Rate is “AS LOW AS” – Rate is “AS LOW AS”
8.95% APR 10.95% APR
– Fixed Rate – Fixed Rate
– Rate is based on – Rate is based on
members credit history members credit history
– Rewards point system to
purchase from virtual
store
(ScoreCardRewards.com)
3. How Do We Compare
All cards are Variable Rate
BANK TYPE of CARD RATES
Chase Freedom Cash Back ..Up to 5% 12.99%-22.99%
Capital One Venture Rewards Card 13.90%, 16.90,% 20.90%
Citi Bank Thank You Rewards Card 12.99-22.99%
Preferred
Capital One Prestige LOW Rate 10.90-18.90%
Citi Bank Simplicity LOW Rate Card 12.99-21.99%
4. VISA Benefits
• No Frills, no No-nonsense, no gimmicks-No
hidden fees
• NO Annual Fee
• Maximum limit is $7,500
• All can be paid in person at OUR CU branches
or online through Online Banking.
• Card intended for purchases not cash
advances ( rate 18.95% APR)
6. Reward Card Incentive for Members
Welcome bonus upon activation of new card
1000 bonus points
First time purchase in 2011:
500 bonus points
7. Goals – Expectations-Incentives
Scheduled to run May-July
Goals per person (Tellers/FSRs):
Required Monthly: 3 apps turned in and approved
4-15 approved apps turned in and approved receive $2.00 per app
16 or more approved apps turned in and approved receive $5.00 per app
Bonus: Each app that has balance transfer at time of approval receives extra $1.00 per app
Top seller each month:
May -2 tiger tickets and day off to go to game
June - TBD
July -TBD
TOP Branch at the end of July:
The office that brings in the most approved applications, per capita will receive:
Hot dog lunch cooked by Deb and Tom in August
Employee cars washed by Tina, Judy and Jeff in August
8. Paper Flow-Tracking
• Must teller stamp every • Application Processing
application that you give Procedure handout (FSRs)
out. (on the back) – Get all info on the “edit
liabilities” screen
• Tellers are to forward
– Quality Control - complete
completed apps to ??? picture
• Members may complete – Decision Making: Adhere
application on site and to the New Managed
turn it in or take it home Credit Policy
and return it later. – All apps approved or
denied go to Support
Services Supervisor
9. How To Take A Payment
• Where can payments be • Tellers Process payments:
made – CP- Amt.
– At any of OUR branches – Cash or CK- Amt.
– Online banking
– eZcardinfo.com • No Visa payment coupon
– Don’t need to use the blank
payment coupon.
– Write the last 4 digits of the
Visa number and the pmt.
amount on the deposit ticket
in the “Deposit/Payment”
section under “other”.
– If you are using a counter
voucher just write it on there
as you would a loan pmt.
Editor's Notes
Reference that we must quote it with “AS LOW AS”FIXED vs. VARIABLE Rate Card: A variable rate card is directly tied to an index, typically the Prime Rate. When the Prime Rate is raised the interest rate of a variable rate card rises within 30 days. A fixed rate card, however, is not tied directly to the Prime Rate. When the Prime Rate rises or falls, the interest rate of a fixed rate card usually stays the same. Though fixed rate cards do not fluctuate as often as variable rate cards, they do fluctuate on occasion and the financial institution is required in writing to notify consumer.
Rates from the individual banks sites as of 4/19/12All these cards are based on excellent credit and have no annual fees, except the Venture card will kick in a $59 annual fee the second year. Those with good credit the rates went up as high as 24.99% and kick in a $35-50 annual fee immediately.SIDE NOTE: Chase Freedom card that is doing the bonus miles is only up till they give out 1 billion, already gone according to their site..plus they were pushing them to make major purchases within the first 90 days of the card being issued.
Like all our products we aren’t hiding any details.
Lets insert artwork and logo’s into this pageRight Choice….Marketing Campaign – May 1st –May 12thDress Down on May1st Come On Down – May 14-June 1st
No bonus for Transfer Balances.
NOTE: Encourage staff supervisorsuse their staff rewards/stipend to set up your own contest/incentives.
We are not hunting down or matching staff up with members. If it’s not teller stamped no one gets credit.Quality control – all fields complete and properlyGet all data from member so we can a full picture of the members financial status situation.
