Company Archives - Vermont Republic https://vermontrepublic.org/tag/company/ Second Vermont Republic Thu, 23 Jun 2022 13:12:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://vermontrepublic.org/wp-content/uploads/2019/01/cropped-LogoSample_ByTailorBrands-1-32x32.jpg Company Archives - Vermont Republic https://vermontrepublic.org/tag/company/ 32 32 8 Mistakes To Avoid When Switching Car Insurance – 2023 Guide https://vermontrepublic.org/mistakes-to-avoid-when-switching-car-insurance/ Mon, 08 Feb 2021 08:59:34 +0000 https://vermontrepublic.org/?p=3541 Different companies offer different quotes and insurance packs and it’s normal to decide to change your current one, especially if some other policy covers more features and you need to pay less for that service. But, what to do when your old policy is still active? If you want to stop the contract, you may …

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Different companies offer different quotes and insurance packs and it’s normal to decide to change your current one, especially if some other policy covers more features and you need to pay less for that service. But, what to do when your old policy is still active? If you want to stop the contract, you may need to pay some fees for it, and you should carefully think about every aspect before taking any action.

There is always a better rate, but you need to be very careful and check every aspect before you decide to switch the car insurance company. Many people miss important information that often it’s not mentioned in the coverage list and they think they’re getting a better deal for a lower price. Everyone wants to save money but think twice before you decide to save on car insurance. Compare the rates every few weeks because the companies always change the conditions so they can stay competitive in this market. When it comes to home and auto insurance, you will always want to identify your needs. As a possible insured, you must realize this is a game of perfect balance and know how to read what is placed beyond words. For instance, Morison Insurance Brokers Inc. strives to give you the best insurance services to put every piece in its right position.

If you are sure that you want and need to switch the insurance program, you need to avoid these common mistakes:

1. Not asking for a refund

img source: payumoney.com

Many companies will try to charge you fees for the amount of time left for your policy. A lot of customers will pay, so they won’t lose time and move quickly to another company. But, many of us still don’t know that we have a right for some refund, especially if we have paid the whole price upfront. You may not get back the whole amount of money for the unused months but should have a clear refund policy that allows the customers not to lose the money.

2. Double coverage is not double protection

Many people decide to sign a contract with another insurance company while their previous contract is still active. They think they will have double protection and can get more money for the same incident. But, be careful with this belief. Double coverage is not as same as double protection. If you have an accident, you can use the policy that has a better cover for the same damage. Every attempt to get paid from both insurance companies is referred to as a fraud and criminal and you can be prosecuted in court. Also, this double coverage may last 3-4 months, and then you need to decide if you keep the new one or make a new contract with the previous company.

3. Not canceling your current policy

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You need to cancel your current policy, but you should do that formally, with a written announcement. You may think that when you stop paying they will cancel the contract by default, but you need to do that personally or by a phone call. If you don’t put your signature on a cancelation contract, they will assume you’re still their customer and automatically renew it.

4. Keeping the old insurance policy in your car

After you cancel the contract, you need to move the old documents out of your car. If a police officer stops you and asks for the documents, you can easily mix them, until you find the right policy to show them. Police officers don’t want to lose time waiting for you to find the documents, so you should always keep only the regular policies in your car.

5. Not getting a new coverage after canceling the previous one

img source: carinsurancedoctor.info

After you cancel your previous policy, you need to immediately activate the new one. Don’t allow to have a huge coverage gap because accidents can happen every day. The best time to sign a new contract is immediately after you cancel the old one. That will help you avoid unpleasant situations that will result in great money loss.

6. Check all the aspects that may get you a discount

If you plan a wedding or you expect a child, it’s always better to switch the plan so you can get a good deal for your insurance policy. Everything in your life may affect the final price, including the shared ownership over the car or a full package of insurance for every family member and your home and car. Also, if you just had an accident and your car is on service, you should wait until it’s fixed and the case is solved and closed, because it may cost you a lot, especially if the case is still active.

7. Not reading the conditions

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Before you sign your policy, you should read the terms and conditions and ask for an explanation if something sounds weird and unclear. Don’t ever sign anything before you are sure everything is all right, because it may cost a lot of money in the future, especially if the text contains very unclear sentences that may have two or more meanings.

8. Not comparing the offers and quotes

If you found a better quote, the chance that there is even better in other companies is pretty big. Always find a few policy offers, compare the prices and the conditions, and then decide what is best for you. A lot of factors can affect the price and you need to be informed about that. Also, if you contact your current company and tell them you want to switch, they may offer an even better deal to keep you as a loyal customer.

It’s a good idea to change the insurance company?

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It’s quite normal to require better coverage for your money. But, you don’t need to fall to “great offers and deals” especially when the company is unknown to you and they have poor user experience and no evidence for previous work. Also, you can always choose an insurance service and check online how much you will save, by entering your general data at websites like www.general.com and choose the plan that fits your needs.

So, if you have a good reason to switch your auto insurance, you need to do that, but get ready to be asked to pay some fees, especially if you cut the contract earlier than the final date. There are a lot of reasons you may need to change the policy, like moving to another state or when you are not satisfied with your current company. Just don’t do anything before you think about it and see the possible advantages and disadvantages of your case.

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How To Cut Expenses For Your Business in 2023 https://vermontrepublic.org/how-to-cut-expenses-for-your-business/ Fri, 05 Feb 2021 05:33:47 +0000 https://vermontrepublic.org/?p=2826 The best way to increase your company’s profit margin is to increase revenue. The second best is to reduce expenses. People often neglect the second way, focusing solely on the revenue side of their books. That is a good way to run your company into the ground. Expenses must be kept under control, else you …

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The best way to increase your company’s profit margin is to increase revenue. The second best is to reduce expenses. People often neglect the second way, focusing solely on the revenue side of their books. That is a good way to run your company into the ground. Expenses must be kept under control, else you risk cutting into your profit margin. Once that happens, it is very hard to get things back on track. That is why it is smart to start cutting costs as soon as you start your business. There are plenty of ways how to cut expenses for your business. Below, we have listed some of the most important ones.

Reduce Production Costs

img source: caminofinancial.com

There is almost always a way to reduce your production cost. Often a simple streamline will yield incredible results by cutting waste. Speaking of waste, you can try selling it instead of sending it to recycling or a landfill. Maybe you can shift some aspects of your operation and create some space that can be leased out. The electricity bill is also worth looking into as a source of savings. Perhaps there are machines that run for 8 hours a day and you can get that to six hours by optimizing some procedures. Finally, you can always try to increase the productivity of your workers by offering incentives for reaching certain goals.

Cut Your Financial Costs

Financial costs represent a sizeable chunk of your total expenditure. If you can reduce it by even just a few percentages, you can end up saving a lot of money. Regardless of how long you are with your lender or insurance provider, always ask around for prices. This serves two goals. You will know how honest they are with you and if they are giving you the best deal possible. Secondly, even if you are fully satisfied with their services and don’t plan on changing them, you can use the eventual lower offer as a negotiating tool and ask them to match it. Always try to consolidate all your insurance policies with one carrier. It will greatly affect the total cost. The same goes for banking accounts. Be careful when taking out a loan. Sometimes it can’t be avoided and it is often the only way forward for many companies. But sometimes it simply isn’t needed and you can achieve the same goal with a little patience. Loan payments are a significant factor that can hugely affect your cash flow and hinder you for years.

Maximize Your Employees’ Skills

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Make sure you are familiar with your employees’ strong and weak sides and how to use them most efficiently. You may have an experienced sales person manning the front desk and answering phones. That is a clear waste of their skill and talent on a job almost anyone can do. Get them to sales as soon as you can. Perhaps you have a skilled mechanic doing some trivial job on a production line. By transferring them to maintenance staff, you can save thousands in repairs and spare parts. Your employees are often the most important part of your company and you need to learn how to get the most of them.

Reduce Operating Costs

We already mentioned the electricity bill, but there are other ways to reduce your operating costs. How many printer tonners are you using a month? How much paper? What about the new office equipment? Is that printer really dead and has to be replaced by a new one, or can it be repaired? Always ask these and similar questions and demand that your office manager knows the answers. You may come across as a penny pincher, but those are your pennies and you have every right to pinch them as much as you want.

Keep an Eye on Vehicle Expenses

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Even if you don’t have a massive fleet of vehicles in your company, there are many ways you can save on it. Fuel alone can be a huge saving if you take your time to plan the routes your vehicles take carefully. Regular maintenance, although fairly expensive, can still save you a lot of cash in the long run. Not only will your vehicles be more efficient, but you will also avoid breakdowns that can leave a vehicle stranded in a shop for weeks, incurring nothing but losses. Vehicle logs must be kept religiously, and you can find electronic logging device guide on bestelddevices.com. Finally, every mile you squeeze out of them is one mile that postpones the purchase of its replacement. Speaking of replacements, you can also save by being careful when purchasing new vehicles for your business. Keep an eye on your local ads. Every once and a while, a real bargain will show up. You may find a van with low mileage, or even several of them, that will suit you just fine, and for a fraction of the cost of a new vehicle. This alone can save you thousands.

Rethink Your Marketing Strategy

In this day and age, marketing doesn’t have to break the bank to be effective. By employing some clever strategies, you can severely cut the cost of your advertising. It is amazing what you can achieve with a simple website and a strong presence on social media. If you are not familiar with this approach, hire a social media manager that will keep tabs on all your accounts.

Keep Your Taxes Low

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It is often said that a good accountant is worth their weight in gold. This is one employee that you can’t afford to underpay. Besides, they probably know better than you how much money you have at any given time. A good accountant will pay themselves off just by finding every possible deductible for your tax return. Of course, they will need your help doing it. You should get into the habit of keeping every receipt that comes your way and recording the mileage of your personal car every time you use it for business purposes. It may be tedious at first, but you will soon fall into the groove. Besides, you will be very happy you were doing all those things once tax season comes.

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Customer Service Improvement Strategies – 2023 Guide https://vermontrepublic.org/customer-service-improvement-strategies/ Fri, 05 Feb 2021 04:32:36 +0000 https://vermontrepublic.org/?p=3112 Improving customer service is the most important way for any company to ameliorate relationships with buyers/users. However, it is often overlooked. Your company might have the best product or service in the market. You might have the most talented staff but users don’t care about these things. They only remember their direct interaction with your …

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Improving customer service is the most important way for any company to ameliorate relationships with buyers/users. However, it is often overlooked. Your company might have the best product or service in the market. You might have the most talented staff but users don’t care about these things. They only remember their direct interaction with your company that is via your customer service agent.

The bottom line is that your customer service team is the true reflection of your company. It shapes customers’ experiences and everything depends on the quality of support they get. A strong company will have a great relationship with its clients.

This is true for all internet providers as well. Companies like Spectrum face thousands of queries in a day and have to act accordingly.  Their customer service is quite efficient in solving the matters of users. If you need more information about them, you can get it from this website.

Since most of the companies don’t focus on improving their services, we came up with a comprehensive guide on all the strategies to improve customer service.

Get Customer Feedback

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To improve your customer service, you need to understand their experiences and pain points. The only way of knowing all of this is through user feedback. For this, make sure you provide multiple ways to share feedback. Telephone or feedback form surveys are quite popular these days. Once the feedback platform is established, you can create a complaint system for customers to raise their issues.

This will help you understand all their pleasant and ugly experiences interacting with your company. Gaining a real insight into how your company is doing and focusing on areas that require improvement will help you grow.

Strengthening and training your customer service team

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There are many ways to strengthen your customer service team. The first thing you can do is hiring a professional to train your staff. After all, no AI element or Tool can compensate for the unavailability of a skilled workforce. The process starts with hiring the right people that can be molded in the future for outstanding customer service.

Most importantly, you need to incorporate the following skills:

Patience: A customer service agent has to deal with different types of clients. Some of them are super-friendly and most are annoyed or confused. They may ask the representative a lot of questions. Therefore, the agent should be patient in answering all those concerns and must do everything to win the users.

Product Knowledge: This is not a skill but a requirement. All the customer service agents should have complete knowledge of your product and services. In case they aren’t sure, they must take the time to find the right answer and set the right expectations.

Empathy: They should learn to treat buyers/users like humans and not just stats to add on a spreadsheet.

Enhance your customer service strategy

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Like it or not, you have to take some drastic steps to enhance your existing customer service strategy. Here is how you can achieve that:

Build communities: Customers need to be valued and they get a sense of entitlement once you start treating them as important members of the community. You can involve them in your business by arranging webinars, conventions and trade shows. They have to learn from you and in turn, they’ll provide you valuable feedback to make all things better.

Be available: Customers should feel free to reach out to you. If you run an online business, try to meet with them in person occasionally. Simple things like providing your physical address will build trust.

Engage your Reps

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Give the best training in the world to your representatives, teach them all the skills but if they aren’t satisfied with your company, it won’t matter at all. As a company, it is your utmost responsibility to make sure that the employees have better working conditions, receive compensation for their efforts, and get opportunities to excel in the company. If the agents are happy, it would reflect in your customer service as well.

Implementing these simple yet effective strategies will help your company in the longer run.

Understand how consumers making a decision

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It is quite crucial these days to empathize with the customer. They need to understand the process that goes into the purchase and the effort a customer has to put to be heard. Here is what representatives need to understand the consumer decision-making process:

  1. Recognizing the Problem: Why do consumers buy a product? The decision to buy something always begins with the realization of a need for that particular product. There is no time frame for this, it can occur in a short time window or with the aid of internal or external stimuli. However, one thing is for sure, it results in a responsive desire from the client to attain a new product or service to solve that newly discovered problem.
  2. Search for Information: After recognizing the problem, the consumer looks up the information about the product they need. The source of information is not just limited to past influences but future influences as well. This is the moment all the businesses plan for since their inception. They have to make sure that the customer gets all the information to address his specific needs. Ideally, it should be converted into a purchase.
  3. Evaluation of Alternatives: The times have changed. In this digital age, your more than perfect sales pitches are not enough to influence someone to make a purchase. Today, consumers are well informed. They make their decisions after thorough research, weigh their options, and try to get the best deal possible. The information is not just limited to price but they look for quality and efficacy too. Even at this stage, there is a dire need for an honest review, feedback, and efficient response from the customer service.
  4. Purchase: When the customer has weighed in all the options, he makes up his mind and does the purchase.
  5. Post-Purchase Evaluation: One the product has been sold, it is the duty and effective strategy for any customer service department to identify the level of satisfaction. For any business, their satisfaction is very important and frequent evaluation can gain you a deeper insight into what things you need to change.

When a buyer is in a decision making process to purchase a product from your website they have multiple queries to make sure they are getting the right product for themselves and making a good decision. This decision can be influenced by product images, product description, website interaction and more. It is recommended to get professional services for post production such as image clipping path services from companies like UK Clipping Path for their excellent work, and learn more about their services. Experts recommend taking a good look on whether you have the perfect interaction with the customer via the website or other possible ways.

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Don’t Reinvent the Wheel. Buy a Franchise https://vermontrepublic.org/buy-a-franchise/ Wed, 27 May 2020 10:27:59 +0000 https://vermontrepublic.org/?p=3597 Have you ever wanted to start your own company but hesitated at making the big move? If so, you’re not alone because millions of prospective entrepreneurs stop short just before opting for the startup route. They cite all sorts of valid reasons, like not having enough capital, now knowing the market well enough, the fact that …

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Have you ever wanted to start your own company but hesitated at making the big move? If so, you’re not alone because millions of prospective entrepreneurs stop short just before opting for the startup route. They cite all sorts of valid reasons, like not having enough capital, now knowing the market well enough, the fact that competition is too stiff, and many other credible excuses. But what if you’re not happy with the corporate world either? Perhaps you loathe the idea of working a 9-to-5 job for a major company where your ideas and proposals count for little. If that’s the case, consider a middle ground where you can be your own boss but still have solid support from a larger organization. Think about buying a franchise.

The Upside

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What is the upside? Franchisees typically point out that they get to make their own day to day management decisions but still get help from the franchisor, the company that owns the name and concept of the business. Most fast food, auto service, and restaurant businesses operate under this model. The standard variation allows for you to buy in and run one or more business units, for example, a fast-food location. The person who created the company and the concept behind it sells you a license to run one of their stores as an owner/manager. Each franchisor has a different arrangement about how much control they give to their franchisees. In some cases, you have full rein and make 99 percent of all the decisions about the business, even where to locate it. Other owners are strict and give up minimal control. If you buy into their business, you end up primarily as a manager of a single store, located in a pre-set spot, and are obligated to purchase all your inventory from them.

Prepare Yourself Academically

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If franchising is a long-term goal for you, consider getting a college degree in business or marketing. Many of today’s top companies won’t consider your application unless you hold at least a bachelor’s degree and have a couple of years of work experience. Getting a student loan to finance your studies is a smart, convenient way to earn a diploma relatively quickly. You can opt for online study and work at your own pace on weekends and nights while getting work experience. Plus, education loans from Earnest offer reasonable interest rates, competitive terms, and longer repayment periods. 

Because there is such a wide range of arrangements, you need to spend time doing research on which companies are a good fit for you. Carefully consider what it is you want to do and have the ability to do. Check out lists of available franchises at online databases. There are numerous websites and government resources that offer lists that include thousands of available opportunities. When you’re in this exploration phase, try to focus on just one or two major industries, like automotive services and restaurants, for example. Pick major categories that appeal to you and interest you.

Select Industries

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There’s a sweet spot for most people at the point where your skills and likes intersect. If you enjoy playing the stock market and have solid numerical skills, then an online brokerage business might be for you. Avoid industries that you either dislike or know nothing about. For example, even if you have great managerial skills but happen to abhor the idea of operating a restaurant, stay away from fast food outlets. A good way to begin the selection process is to make a list of several industries that interest you. Put them in a column on a sheet of paper. In the second column, write down four or five skills you have, based on relevant jobs you’ve held in the past and on proven experience. Then, with both columns in mind, search through the industry lists of opportunities. You’ll be able to hone in on a few key opportunities in just a few minutes if you take the time to make a detailed list.

Search for Quality and Market Demand

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Once you’ve decided on a couple of industries, try to locate companies that have been around for a few years and have demonstrated the ability to put out a high-quality product or service to a market that has more than average demand. Don’t hesitate to do your own research and to contact franchisors to ask them questions. This is an ideal way to hear what they have to say and see how they are able to explain current levels of demand and future growth trends, but don’t take their word for it. Read online consumer and employee reviews to get a feel for what the company is doing right and possibly doing wrong. Check the employment review sites to read what past and current employees have to say. This can sometimes give you a solid feel for whether the franchise would be a good fit for you. The same goes for consumer review sites. Many offer an inside look at the overall reputation a company has. If you see too many red flags, stay away.

Research Your Potential Competition

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Do research on your local market and consider the potential challenges you will face. Try to see how many other franchise owners in your area offer a similar or identical service or product. If you begin to notice that the local market appears to be inundated with that particular product/service, it’s probably a good idea to move on and examine another opportunity. Discuss the proposed training and corporate backing you would get if you signed on with a particular organization. Dig in and find out what their marketing plan is for new franchisees and what the standard business plan is for new stores. Find out about ongoing support and training. Read through a copy of a typical contract to discover all the legal obligations you and the franchisor will have if you sign an agreement. Based on all your research, interviewing, and hard work, decide whether to move forward and formally apply for a license to operate for a particular company. Expect to wait at least a month before you get a decision from management.

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Actionable Tips to Increase Workforce Productivity https://vermontrepublic.org/actionable-tips-to-increase-workforce-productivity/ Mon, 23 Sep 2019 07:18:50 +0000 https://vermontrepublic.org/?p=1742 When there’s a lot of work to complete, business leaders often assume that it’s necessary to hire more people. However, it’s often possible for managers to get more work out of existing staff by helping them become more efficient. As Salesforce.com observed, “improving sales productivity is an organizational goal that is truly never done.” Here’s …

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When there’s a lot of work to complete, business leaders often assume that it’s necessary to hire more people. However, it’s often possible for managers to get more work out of existing staff by helping them become more efficient. As Salesforce.com observed, “improving sales productivity is an organizational goal that is truly never done.” Here’s how.

Help Employees Structure Their Day Better

Learning to prioritize and delegate is important, but these skills won’t come without effective time management skills in the first place. Managers should consider sitting down with each of their direct reports and asking them how they normally structure their day. It might surprise them to learn that some use an Outlook calendar or simple pen and paper to plan their day while others seem to wing it.

Requiring employees to create and prioritize a daily task list can go a long way towards improving overall productivity. Managers can make it easier for employees new to the process by having them run their daily schedule by them every day for a week and provide feedback on how to improve it.

Implement the Two-Minute Rule

source: latestlaws.com

Answering emails, responding to meeting requests, and other common tasks can quickly stockpile when employees don’t stay on top of them. One especially helpful technique to teach employees is to complete any task that would require less than two minutes of their time right away. Employees might feel shocked at what a difference this can make.

Take Breaks to Maintain Productivity

Some managers have the mistaken idea that increasing productivity means employees should stay at their desk all day, taking little time to eat lunch or even use the bathroom. This is a sure recipe for burnout and decreased rather than increased productivity. A short break away from the desk can help people feel more focused and energized when they do return to work. Implementing a break schedule and insisting that employees follow it can work wonders.

Skip as Many Meetings as Possible

source: getweeklyupdate.com

Some employees spend more time in meetings each day than they do complete actual tasks. Managers should consider whether an employee truly needs to attend a meeting or if he or she could pick up the information just as easily via email or a quick coaching session. People who schedule meetings often should also ask themselves how necessary they really are to achieve the desired business outcome.

Eliminate Distractions

Social media, smartphones, unnecessary meetings and phone calls, and noise from adjoining areas can all make it difficult for people to concentrate on their job. Blocking social media on company computers and requiring employees to reserve smartphone use for break times can help. It’s also incumbent upon managers to eliminate other distractions to the best of their ability.

Reduce Paperwork Requirements

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Filling out and delivering paperwork to the right party can consume a lot of time in any job. This is especially true of sales. Managers should find out how much time their direct reports spend on paperwork each day and then help them reduce it. Some possibilities include delegating paperwork to clerical staff, teaching staff several shortcuts for completing it and eliminating all unnecessary paperwork entirely.

Increasing productivity is not as hard as many people assume. It often comes down to a willingness to think outside the box to find more efficient ways of doing things.

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What makes Credit Card Company interested in getting more customers? https://vermontrepublic.org/what-makes-credit-card-company-interested-in-getting-more-customers/ Fri, 02 Aug 2019 07:11:11 +0000 https://vermontrepublic.org/?p=1441 Credit cards are very enticing; at the same time, they could be misleading too if you do not handle with care. They lure you with their many offers, thus sometimes making you go bankrupt. You get to hear from people complaining that smart card companies take advantage and make quite a lot of money from …

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Credit cards are very enticing; at the same time, they could be misleading too if you do not handle with care. They lure you with their many offers, thus sometimes making you go bankrupt. You get to hear from people complaining that smart card companies take advantage and make quite a lot of money from you.

But this is not true, unless and until you are aware of how the credit union functions. Also, if you are irregular in your monthly payments, late payment fees, cash withdrawal fees, and many more options allow the credit unions to make a profit. So, you should choose, plan, and act wisely to keep a balancing account.

If you are a smart card holder and worried about your records, don’t worry, there are laws at your side too as a consumer. If you ever feel like you are being bankrupt or being cheated, then you can have a look at the laws of its unions.

Laws for credit unions and financial institutions

source: voria.gr

In the United States of America, a law was enacted in 1968 for the consumers the Consumer Credit Protection Act (CCPA). It ensures that when you, as a consumer, will receive honest and fair credit practices. The two utmost law, i.e. FCRA (Fair Credit Reporting Act) and the Tila(Truth in Lending Act) includes within the CCPA. These laws will protect you from unfair practices. Let us in detail what the two laws say about

How the Fair Credit Reporting Act (FCRA) functions for a consumer?

source: consumerprotectionbc.ca

It is a federal law which collects and uses your personal credit information. This act entails you for a free credit report yearly three-bureau agencies in the US most widely known as TransUnion, Equifax, and Experian. You will have the right to review and ensure your record is accurate. Your history, which will be reported by various agencies is one of the foremost concerned of the FCRA.

Our record is tracked and recorded by America’s three major bureau agencies, namely Experian, Equifax, and TransUnion. Note that all report of the three agencies might map or slightly differ. If they use their algorithms, you might get a slight difference in records from all three agencies. 

These recording data are collected even by banks, money lenders, and all unions. The credit reporting agencies or (CRA) sell your information and based on that; an organization may grant in sanctioning loan or credit.

The information includes your monthly expenditures, bill payment history, past loans, current debts. Your employment history, your background records if you ever were bankrupt.

FCRA has its limitations like it will only select a particular individual or a group to check your report and also under certain circumstances. Some of them are listed below.

– An insurance company may check your record if you apply for an insurance policy

– It may be viewed by money lenders when requested. You may borrow from lenders when you apply for a mortgage, a car loan.

– Sometimes the court order or federal jury subpoena might request to the government to view your report if a court order or even if you plan to apply for specific government licenses.

Once you submit your details and you need to update more information you can do within 30 days of your dispute or up to 45 days. 

You can request as you have the right to know your record. For obtaining the file, you will need to provide your social security number. You are entitled to get a free file disclosure if

– Someone has taken action against you after seeing your report

– You are a victim of theft and fraud

– Your information is inaccurate

Truth in Lending Act

This is a federal law which was passed in 1968. This law also ensures that you, as a consumer, are treated relatively by businesses and are also informed you about the right cost of. As the name suggests, it is the law states that lenders must provide the truth in a lending amount to you. The annual percentage rate additional financial changes like application fees, late charges, repayment penalties, payment schedule, and total repayment amount over a lifetime’s loan.

However, the law does not restrict how much interest rate needs to be charged or whether you will be granted or denied for the loan. Another name for truth in the lending act is regulation Z; the two names are used interchangeably.

The card Act and Truth in lending act

source: lawpreview.barbri.com

Financial institutions like banks, unions, and businesses require certain card act. Before issuing a new smart card, the banks and business must disclose all vital information. This may include interest rates, grace periods, and annual fees. You must be given a reminder if there is an upcoming annual fee by the card issuer X`.

Some other acts include

– Without the knowledge of you as consumer card issuer are prohibited from opening a new account 

– Increase in credit limit income if you are an existing member without your consideration is also prohibited.

– You will be given a 45-days notice period before increasing higher interest rates an issuer, which is mandatory.

– A card issuer is required to give 21 days grace period to you between the due date of payment and before receiving a monthly statement. 

– If you make only minimum payments, then you will have to pay a higher interest rate and take a longer duration for the payments. This will be disclosed in the statement issued by the smart card company

Offers like a gift card, T-shirts, etc. are prohibited from the card companies.

One of the advantages to you as a consumer is that you have the right to rescission. This means you will be given three days to reconsider your decision of backing out from the loan process without losing money. In addition to that, if you want to know your smart card record, you can get your free annual credit report here by referring to some websites that offer this to customers. 

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