Adding a second borrower to an existing Visa: Connections does not allow authorized users on Visas. If a member would like to add someone to their current Visa, we will need to qualify both members like it is a brand new Visa and have them sign the paperwork just like a brand new Visa. However, instead of booking a new Visa, the lender can simply add the new borrower as a Co-Borrower in the Member Services tab of Forza and then call anyone at the Member Support center to order a card for the new borrower.

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Here are some items to keep in mind about payments for Visas - feel free to share this information with the members!

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• Visas (like ALL Revolving Lines of Credit) require a payment to be made every month.

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• The statement cycle closes 25 days before the due date. Since the due date is always the 15th of the month, the cycle will close either on the 20th or the 21st of each month (18th of February, or 19th of February in Leap Year). If the member makes a payment any time before the statement closes, they will still owe their monthly payment for the 15th of the following month. 

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• Late fees are applied once the statement is generated, which happens once the statement closes - on either the 20th or the 21st (18th of February, or 19th of February in Leap Year).​

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• Payment amounts on Visas are 2% of the balance, UNLESS they are over their limit.​​

  • ​If they are over their limit the payment will be 2% + the amount they are over the limit. ​

    • ​Ex: ​Visa limit of $2,000, but their balance is $2,100 = payment of $142 instead of $42

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• If there is an error on the CU's part and we need to refund a fee, that has to be done BEFORE the payment is made, if possible. (Any adjustments to Visas need to be keyed by one of the following: Melissa B, Dee, GinGar or any one in the Member Support Center.)

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• If a member has a credit balance on their visa, contact Melissa B, Dee, GinGar or any one in the Member Support Center to move it. It has to be corrected in account adjustments to avoid the member being charged interest. We cannot just do a normal teller operations transfer!

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Lenders should educate members about how much credit card usage can affect their overall score. Credit Bureaus like to see consumers have a lot of credit available, but they don't like to see them use a lot of it. When opening a credit card, make sure the member knows that the lower they keep their balance in relation to their limit, the better their score will be.