I helped this member last month and found out he had credit cards that weren’t giving him any rewards. I let him know about our Visa Rewards credit card, which would give him 1.5 points for each dollar spent on purchases and no annual fee. He seemed interested, but left without applying, so I sent him a follow up card not too long after he was in the branch. He came in again, and showed my card to Kelsey. He couldn’t exactly read all my handwriting, but saw the 1.5 points part and wanted to apply right then and there. While submitting his application for the Visa Rewards card, I noticed he also had two Personal Loans at other finance companies. I asked if he knew how much interest he was paying on those loans, but he didn’t know so I did some calculations and found out it was about 24.86% on each—way more than he should be paying! I asked him if I could submit another application to consolidate both loans into one payment at a much lower interest rate. He agreed, so I submitted his applications and he was approved for both!
After a super fun call with the other finance companies (they really wanted him to keep the loan with them), we were able to get all the payoff information to consolidate his loans. He left the branch with a new $1000 limit at 16.99% APR Visa Rewards card and a Personal Loan at a much lower interest rate of 14.99% and saving him $260.83 a month!