To Apply:

Customer needs to be present in the store

A valid copy of their identification

Credit/Debit Card as secondary form of ID

Approximately a 670-credit store

Be at least 18 years old

Open Accounts:

A valid copy of their identification

A copy of the card if they have it, if not, a copy of a debit/credit card is needed

How it Works:

Customers are given a credit limit based off of their credit score

For every $1000 spent they receive 12 months without interest

Months are determined based off the amount financed not the total amount of the invoice.

The customer will not be billed for their items until after they take possession of their merchandise.

The bill is received 30-45 days from delivery

If the customer takes possession of their merchandise on separate dates, it will be billed separately.

Two different payment plans

0% APR if Paid in Full: Customer will receive a minimum payment based off their total and they have the allotted months to pay off without interest

Equal Payments: The total financed is divided by the total amount of months they have to pay off.

Customers are required to put 10% down unless approved by a manager.

APPLICATION PROCESS:

Processing an Application:

The customer must fill out the application in its entirety

Verify information and process

Approved Application:

Contracts can be written for up to the customer’s credit limit. Increases are available if the approved amount is not enough for the customer.

Processing Applications: Call Synchrony to process the application, more than likely they will have to speak with the customer.

Denied Applications: Customer will receive a letter in 7-10 days explaining the reason for the credit decision

After the Application is Processed:

Regardless of the credit application decision we need to attach the application and ID/credit card to the credit decision and place it in the appropriate folder.

Fill out the merchant information on the application

Give Synchrony application packet to the customer

PROCESSING TRANSACTIONS: 

Need the customer’s account information and ID and credit card for EVERY transaction

The number of financed months on the contract needs to match the information put into STORIS

The term is determined off the balance of the financing after the 10% is taken.

Customer needs to sign the authorization paperwork

Financing Packet FOR ALL CUSTOMERS:

Signed Authorization

Invoice

Delivery Expectations/Policy

Customers account number

Customers Application

ID and credit card information

RETURNS AND EXCHANGES: 

Returns and exchanges are allowed

Customer can finance redelivery and restock fees

Refunds are processed after the transaction is complete. It takes at least one billing cycle for the transaction to fall off, depending on when it was processed.

Exchanges with a balance get a separate set of months than the previous transaction.

CANCELLATIONS: 

If a customer cancels their merchandise, please call Synchrony to cancel the authorization.

If the customer cancels a portion of their merchandise, call into Merchant Services and they will reduce the amount of the transaction.

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