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 Information

  1. Company Name(s) - include DBAs
  2. Company Websites
  3. Business description
  4. Tax EIN
  5. Incorporation details (state/date/ownership)
  6. Primary contact

Program Information

  1. Name of card program
  2. Program type (consumer, small business, other)
  3. Program sector (subprime, prime, superprime)
  4. Conversion (existing cardholders) or de novo card program
  5. Do you have an existing issuing bank relationship? If so, do they issue credit cards?
  6. Website of card program
  7. Reason for launching card
  8. Outline cardholder experience from application through active use

Marketing

  1. What are the main characteristics of your current customer base (income, education, geo) and do you believe applicants/cardholders will have similar stats?
  2. Will you market the program yourself? How do you plan to market (channels)? How do you plan to accept applications (online-only?)?
  3. What are your estimated year 1-3 applicant and cardholder figures?
  1. Please provide support for figures, which may be heavily based on current customer figures and conversion estimates
  1. What do you estimate you’ll spend in each year to acquire those cardholders?

Credit Product Design

  1. Pricing (assuming open loop, revolving unsecured card) – what is the intended:
  1. APR – single price point or range
  2. Annual fee
  3. Cash advance fee
  4. Balance transfer fee
  5. Late fee
  6. NSF fee
  7. Overlimit fee
  8. Account origination fee
  9. International fee
  10. Any other fees
  1. Rewards (if applicable)
  1. How are rewards earned?
  2. Dollars or points currency? If points, what is the conversion to dollars?
  3. Will you offer an early spend bonus?
  4. Will you offer referral incentives?
  5. How are rewards redeemed?
  6. Is there a minimum redemption amount?
  7. Do rewards expire?
  8. Are rewards forfeited on account closure (either voluntary or not)?
  9. Any other custom rewards program features?
  1. Parameters:
  1. Will you offer virtual cards?
  2. What $X or % over limit is allowed (float)?
  3. What is your late fee timing (fee grace period)?
  4. Will you offer authorized users?
  5. Any other functionality you would require?
  1. Lending/Underwriting model:
  1. Will you underwrite in 50 states + DC?
  2. What is the applicable FICO range for possible accepts (e.g. 680+)?
  3. Minimum income?
  4. Credit limits (range) for approvals?
  5. Any other underwriting criteria?
  1. Network:
  1. Network preference (Final has existing relationships with Visa)
  2. Platform (Traditional, Traditional Rewards, Signature… depends on rewards offered and credit limits)?
  1. Add-ons:
  1. Do you intend to offer any ‘complementary’ cross-sell products (e.g. insurance) to cardholders as part of this program?

Underwriting and Account Creation

  1. How does an applicant submit a completed application?
  2. Will Final perform KYC/CIP and OFAC checks on applicants?
  3. Will Final pull credit for the applicant? Do you prefer a specific bureau?
  4. Will Final adverse action declined applicants?
  5. Do you intend that we report to all 3 bureaus?
  6. Who is funding receivables (credit lines)?

Card Production

  1. Will you design card art?
  2. Physical card requirements (EMV, metal card, contactless, others)?
  3. Will you design card carrier (what the physical card ships on/in)?
  4. Would you like a sticker on the card for activation/messaging?
  5. Any other card considerations?

Software

  1. Do you intend to adopt an electronic communications agreement so that no paper forms are required?
  2. Do you intend to offer cardholder mobile applications (iOS, Android) in addition to website?
  3. Do you intend to allow cardholders to use Apple Pay, Android Pay and/or Samsung Pay?
  4. Do you intend to offer 2 Factor Authentication (2FA) for login?
  5. Any other software integrations you require for support?

Customer Support

  1. Will Final run customer support on your behalf?
  2. What is the program’s customer support phone number?
  3. What is the program’s customer support email address
  4. Other channels?
  5. Hours of operation?
  6. Any cardholder interactions you want to handle in-house?
  7. Payments only via electronic means (ACH)?
  8. Any other servicing requirements?

Other

  1. How do you define delinquency (Final has D1 as delinquency, to cut bad behavior early)?
  2. What is your charge-off criteria?
  3. Will Final be handling collections efforts?
  4. Are there HIPAA compliance or other non-PCI requirements?
  5. Program/marketing reporting requirements?
  6. Financial reporting requirements?

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