CardWorks’ risk management team will customize a strategy that supports your goals and objectives and improves the performance of your bankcard portfolio. We’ll help you minimize delinquencies, charge-offs, and fraudulent transactions—while maintaining complete compliance with federal and state regulations.
Pre- and post-charge-off collections and recovery
Our expertise and resources make your pre- and post-charge-off collections both more profitable and more efficient. First, we’ll put together a comprehensive plan for each of your portfolios, focusing on phone strategies, record selection, and sort criteria to maximize effectiveness. We’ll then set up an automated phone notification system to obtain payment from delinquent accounts. We can customize scripts and strategies down to the account level, and our collections experts constantly monitor your accounts to make sure you are getting the best possible results.
All of our collections efforts are in full compliance with federal and state regulations, and we also support a wide range of special collection needs, from Consumer Credit Counseling Services (CCCS) and bankruptcy accounts, to accounts that are affected by the Servicemembers Civil Relief Act (SCRA). These accounts are managed separately in a specialized department; a proprietary automation tool enables us to accurately segregate them and make sure that all proper pricing and follow-up actions are taken.
Dispute resolution
CardWorks’ highly skilled Dispute Department helps minimize your risks by investigating and responding to all billing error disputes. Our associates are trained in Visa, Visa International, and MasterCard regulations, and are well-versed in the Regulation Z requirement for investigating and responding to disputes. This team also performs chargebacks for our clients, whether for activity on statused accounts or for represented chargebacks that are initiated by our Fraud Department.
Fraud prevention
Fraudulent credit card use is one of the biggest threats to the profitability of any bankcard program. CardWorks’ expert fraud department helps mitigate that risk by working to prevent fraud before it strikes your organization. We use the industry’s most advanced technologies to detect fraudulent usage patterns, reduce costs, and improve profitability, and we’ll customize a strategy that minimizes loss while remaining as transparent to the cardholder as possible.
Credit underwriting
Intelligent credit underwriting is the key to successful growth. It can also be an expensive—and labor intensive—process. Our experienced underwriting team will help you streamline the application process and make more efficient business decisions. We can process applications in conjunction with your own loan criteria or work with you to develop new strategies to minimize risk and maximize profitability.