How to help your customers get credit approved – the right way.

We have compiled some helpful tips to getting your customers through the credit checking process whilst still doing right by them. Let’s get stuck in!

  1. Ensure your customer accurately enters the correct time they have lived at their current and previous addresses. This should be based on electoral role and official change of address information provided to the government. When this is incorrectly entered, the order may be flagged as potentially fraudulent and may be referred or declined as a result.
  2. When validating ID, make sure your customer selects the correct occupation from the list. A customer’s credit profile indicates which profession they are in, as well as their current employment status. So if your customer’s credit file doesn’t match, it can result in a referred or declined application.
  3. Avoid signing up all your customers from your home Wi-Fi or from the same tablet/laptop. Where Vodafone’s systems see a high number of applications from the same IP address or device, orders can be flagged as suspicious and investigated, resulting in delayed or declined applications.
  4. Don’t submit multiple applications. Did you know that you could be doing more harm than good by submitting multiple credit applications? Credit checking systems look for these multiple applications and they keep a record of declined applications. The more declines your customer has, the more declines they’re likely to receive. So do your customers a favour and make sure they don’t submit multiple applications.
  5. Enter full details correctly. ACN and our partners often receive submitted orders with details that don’t match the Government ID details. E.g. the name on their driver’s licence doesn’t match the name on the application – Matt Smith vs. Matthew Smith. This often causes the application to be referred or declined.
  6. Don’t put all family members’ accounts in the one name. For improved credit pass rates, avoid signing up all the services in one name. For example if you’re signing up mobile phone plans for the whole family you may want to look at putting some plans in mum’s name and some in dad’s name (with their permission of course).
  7. Encourage your customers to set up a direct debit. By setting up a direct debit, your customers won’t run the risk of running late on a payment. Regular late payments hurt their chances of being credit approved in the future. By setting up a direct debit and paying on time it may improve their credit rating which would be a big help if they want to upgrade to one of the latest and greatest handsets in future.
July 13th, 2017|