Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Julies Study Deck > MOMNT - Loan Products Deep Dive > Flashcards

MOMNT - Loan Products Deep Dive Flashcards

1
Q

What does the Loan Term consist of?

A

Promotional Period + Amortization Period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

0% Introductory APR

What does the product ID look like?

A

PZ-(6,9,12)-04

Promotional period:
6,9, or 12 months
No interest accruing 
No interest will build on any transactions taken place during this time
No monthly due payments

Amortization period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
If spend on loan is paid during promotional period, no interest will occur
If not paid off during promotional period, installment payments begin of principal plus risk based interest
These customers really want to pay off loan during promotional period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

0% Introductory APR

What does the promotional period look like? (length and terms)

A

PZ-(6,9,12)-04

Promotional period:
6,9, or 12 months
No interest accruing
No interest will build on any transactions taken place during this time
No monthly due payments

Amortization period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
If spend on loan is paid during promotional period, no interest will occur
If not paid off during promotional period, installment payments begin of principal plus risk based interest
These customers really want to pay off loan during promotional period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

0% Introductory APR

What does the amortization period look like? (length and terms)

A

PZ-(6,9,12)-04

Promotional period:
6,9, or 12 months
No interest accruing
No interest will build on any transactions taken place during this time
No monthly due payments

Amortization period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
If spend on loan is paid during promotional period, no interest will occur
If not paid off during promotional period, installment payments begin of principal plus risk based interest
These customers really want to pay off loan during promotional period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Same-As-Cash, No Payment

What does the code look like?

A

PD-NN-(6,12,18,24)-04

Promotional Period:
6, 12, 18 or 24 months
No monthly due payments! (principal or interest)
BUT Deferred Interest
AKA the interest will accrue
So for any transaction taken place during this period, interest will be placed on it and build until its paid
Will see that on the statement adding up
But will be reversed if loan is paid off during promotional period

Amortization Period:
48 months
Fixed, risk based interest that was accrued(accumulated) during the promotional period will apply here
Plus principal

Key Points:
If spend on the loan is paid during promotional period, then all interest reversed
If loan is not paid off during promotional period, installment payments begin on risk, based interest for rest of loan life

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Same-As-Cash, No Payment

What does the promotional period look like? (length and terms)

A

PD-NN-(6,12,18,24)-04

Promotional Period:
6, 12, 18 or 24 months
No monthly due payments! (principal or interest)
BUT Deferred Interest
AKA the interest will accrue
So for any transaction taken place during this period,
interest will be placed on it and build until its paid
Will see that on the statement adding up
But will be reversed if loan is paid off during promotional period

Amortization Period:
48 months
Fixed, risk based interest that was accrued(accumulated) during the promotional period will apply here
Plus principal

Key Points:
If spend on the loan is paid during promotional period, then all interest reversed
If loan is not paid off during promotional period, installment payments begin on risk, based interest for rest of loan life

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Same-As-Cash, No Payment

What does the amortization period look like? (length and terms)

A

PD-NN-(6,12,18,24)-04

Promotional Period:
6, 12, 18 or 24 months
No monthly due payments! (principal or interest)
But Deferred Interest
AKA the interest will accrue
So for any transaction taken place during this period, interest will be placed on it and build until its paid
Will see that on the statement adding up
But will be reversed if loan is paid off during promotional period

Amortization Period:
48 months
Fixed, risk based interest that was accrued(accumulated) during the promotional period will apply here
Plus principal

Key Points:
If spend on the loan is paid during promotional period, then all interest reversed
If loan is not paid off during promotional period, installment payments begin on risk, based interest for rest of loan life

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Same-As-Cash, Interest Only Payment

What does the product ID look like?

A

PD-NY-(6,12,18,24)-04

Promotional Period:
6, 12, 18, or 24 months
Interest only payments starting at first transaction
Aka there needs to be a transaction in order for there to be interest to make any payment on

Amortization Period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
Any interest paid during promotion will be revered if the amount borrowed is paid off during the promotion period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Same-As-Cash, Interest Only Payment

What does the promotional period look like? (length and terms)

A

PD-NY-(6,12,18,24)-04

Promotional Period:
6, 12, 18, or 24 months
Interest only payments starting at first transaction
Aka there needs to be a transaction in order for there to be interest to make any payment on

Amortization Period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
Any interest paid during promotion will be revered if the amount borrowed is paid off during the promotion period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Same-As-Cash, Interest Only Payment

What does the amortization period look like? (length and terms)

A

PD-NY-(6,12,18,24)-04

Promotional Period:
6, 12, 18, or 24 months
Interest only payments starting at first transaction
Aka there needs to be a transaction in order for there to be interest to make any payment on

Amortization Period:
48 months
Fixed, risk based interest
Plus principal

Key Points:
Any interest paid during promotion will be revered if the amount borrowed is paid off during the promotion period

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Fixed, Low Rate

What does the product ID look like?

A

FR-(0299, 0599, 0899)-(03, 05, 07, 10)
(interest percentage-years)

Promotional Period:
5 months
Interest only payments

Amortization Period:
Low Rate, fixed interest payments
Plus principal

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Fixed, Low Rate

What does the promotional period look like? (length and terms)

A

FR-(0299, 0599, 0899)-(03, 05, 07, 10)
(interest percentage-years)

Promotional Period:
5 months
Interest only payments

Amortization Period:
Low Rate, fixed interest payments
Plus principal

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Fixed, Low Rate

What does the amortization period look like? (length and terms)

A

FR-(0299, 0599, 0899)-(03, 05, 07, 10)
(interest percentage-years)

Promotional Period:
5 months
Interest only payments

Amortization Period:
Low Rate, fixed interest payments
Plus principal

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Guaranteed Monthly Payment

What does the product ID look like?

A

PMT-(200, 250, 300)
(percentage of spend customer has to pay monthly)

Promotional Period:
5 months
INTEREST ONLY PERIOD

Amortization Period:
41-120 months
2-3% of spend
Plus fixed, risk-based interest

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS
Selling point here is that 5 months it’s only interest payments and then even after the loan is amortized then you’re guaranteed to only have to pay 2-3% of the loan spend plus interest. So low monthly!
So customer just tells merchant what their goal monthly is and the computer figures out the rest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Guaranteed Monthly Payment

What does the promotional period look like? (length and terms)

A

PMT-(200, 250, 300)
(percentage of spend customer has to pay monthly)

Promotional Period:
5 months
INTEREST ONLY PERIOD

Amortization Period:
41-120 months
2-3% of spend
Plus fixed, risk-based interest

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS
Selling point here is that 5 months it’s only interest payments and then even after the loan is amortized then you’re guaranteed to only have to pay 2-3% of the loan spend plus interest. So low monthly!
So customer just tells merchant what their goal monthly is and the computer figures out the rest

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Guaranteed Monthly Payment

What does the amortization period look like? (length and terms)

A

PMT-(200, 250, 300)
(percentage of spend customer has to pay monthly)

Promotional Period:
5 months
INTEREST ONLY PERIOD

Amortization Period:
41-120 months
2-3% of spend
Plus fixed, risk-based interest

Key Points:
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS
Selling point here is that 5 months it’s only interest payments and then even after the loan is amortized then you’re guaranteed to only have to pay 2-3% of the loan spend plus interest. So low monthly!
So customer just tells merchant what their goal monthly is and the computer figures out the rest

17
Q

Zero Interest Loan (ZIL)

What does the product ID look like?

A

ZIL-(24, 36, 60)
(loan term)

Promotional Period:
5 months
1% of spend is the monthly payment
No interest
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

Amortization Period:
Principal only
No interest
So divide remaining balance to the chosen loan term month duration and that is the customers monthly payment

Key Points:
No interest ever
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

18
Q

Zero Interest Loan (ZIL)

What does the promotional period look like? (length and terms)

A

ZIL-(24, 36, 60)
(loan term)

Promotional Period:
5 months
1% of spend is the monthly payment
No interest
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

Amortization Period:
Principal only
No interest
So divide remaining balance to the chosen loan term month duration and that is the customers monthly payment

Key Points:
No interest ever
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

19
Q

Zero Interest Loan (ZIL)

What does the amortization period look like? (length and terms)

A

ZIL-(24, 36, 60)
(loan term)

Promotional Period:
5 months
1% of spend is the monthly payment
No interest
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

Amortization Period:
Principal only
No interest
So divide remaining balance to the chosen loan term month duration and that is the customers monthly payment

Key Points:
No interest ever
PROMOTIONAL AND PURCHASE PERIODS ARE BOTH 5 MONTHS

20
Q

Fixed Rate, Risk Based Pricing

What does the product ID look like?

A

FR-RBP-(05, 07)
(???)

Promotional Period:
5 months
Interest only

Amortization Period:
55-79 months
Fixed, risk-based interest
Plus principal

21
Q

Fixed Rate, Risk Based Pricing

What does the promotional period look like? (length and terms)

A

FR-RBP-(05, 07)
(???)

Promotional Period:
5 months
Interest only

Amortization Period:
55-79 months
Fixed, risk-based interest
Plus principal

22
Q

Fixed Rate, Risk Based Pricing

What does the amortization period look like? (length and terms)

A

FR-RBP-(05, 07)
(???)

Promotional Period:
5 months
Interest only

Amortization Period:
55-79 months
Fixed, risk-based interest
Plus principal

Julies Study Deck (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions