Partner Program - Credit Card Questionnaire
This questionnaire is intended to kickoff discussions on program configuration. It will allow you, the partner, and Final (in tandem w/our issuing bank and network) to better understand the parameters that will govern setup and cardholder-facing documents.
Please complete the below and return at your earliest convenience.
- Company Name(s) - include DBAs
- Company Websites
- Business description
- Tax EIN
- Incorporation details (state/date/ownership)
- Primary contact
- Full name
- Experience w/credit card issuing programs? Prepaid/gift card/other programs?
- Name of card program
- Program type (consumer, small business, other)
- Program sector (subprime, prime, superprime)
- Conversion (existing cardholders) or de novo card program
- Do you have an existing issuing bank relationship? If so, do they issue credit cards?
- Website of card program
- Reason for launching card
- Outline cardholder experience from application through active use
- What are the main characteristics of your current customer base (income, education, geo) and do you believe applicants/cardholders will have similar stats?
- Will you market the program yourself? How do you plan to market (channels)? How do you plan to accept applications (online-only?)?
- What are your estimated year 1-3 applicant and cardholder figures?
- Please provide support for figures, which may be heavily based on current customer figures and conversion estimates
- What do you estimate you’ll spend in each year to acquire those cardholders?
Credit Product Design
- Pricing (assuming open loop, revolving unsecured card) – what is the intended:
- APR – single price point or range
- Annual fee
- Cash advance fee
- Balance transfer fee
- Late fee
- NSF fee
- Overlimit fee
- Account origination fee
- International fee
- Any other fees
- Rewards (if applicable)
- How are rewards earned?
- Dollars or points currency? If points, what is the conversion to dollars?
- Will you offer an early spend bonus?
- Will you offer referral incentives?
- How are rewards redeemed?
- Is there a minimum redemption amount?
- Do rewards expire?
- Are rewards forfeited on account closure (either voluntary or not)?
- Any other custom rewards program features?
- Will you offer virtual cards?
- What $X or % over limit is allowed (float)?
- What is your late fee timing (fee grace period)?
- Will you offer authorized users?
- Any other functionality you would require?
- Lending/Underwriting model:
- Will you underwrite in 50 states + DC?
- What is the applicable FICO range for possible accepts (e.g. 680+)?
- Minimum income?
- Credit limits (range) for approvals?
- Any other underwriting criteria?
- Network preference (Final has existing relationships with Visa)
- Platform (Traditional, Traditional Rewards, Signature… depends on rewards offered and credit limits)?
- Do you intend to offer any ‘complementary’ cross-sell products (e.g. insurance) to cardholders as part of this program?
Underwriting and Account Creation
- How does an applicant submit a completed application?
- Will Final perform KYC/CIP and OFAC checks on applicants?
- Will Final pull credit for the applicant? Do you prefer a specific bureau?
- Will Final adverse action declined applicants?
- Do you intend that we report to all 3 bureaus?
- Who is funding receivables (credit lines)?
- Will you design card art?
- Physical card requirements (EMV, metal card, contactless, others)?
- Will you design card carrier (what the physical card ships on/in)?
- Would you like a sticker on the card for activation/messaging?
- Any other card considerations?
- Do you intend to adopt an electronic communications agreement so that no paper forms are required?
- Do you intend to offer cardholder mobile applications (iOS, Android) in addition to website?
- Do you intend to allow cardholders to use Apple Pay, Android Pay and/or Samsung Pay?
- Do you intend to offer 2 Factor Authentication (2FA) for login?
- Any other software integrations you require for support?
- Will Final run customer support on your behalf?
- What is the program’s customer support phone number?
- What is the program’s customer support email address
- Other channels?
- Hours of operation?
- Any cardholder interactions you want to handle in-house?
- Payments only via electronic means (ACH)?
- Any other servicing requirements?
- How do you define delinquency (Final has D1 as delinquency, to cut bad behavior early)?
- What is your charge-off criteria?
- Will Final be handling collections efforts?
- Are there HIPAA compliance or other non-PCI requirements?
- Program/marketing reporting requirements?
- Financial reporting requirements?