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Question 0

Chargebacks?

Answer 0

The process in which the issuing bank electronically disputes a credit card transaction that posted to the cardholders credit card account

Question 1

Retrievals?

Answer 1

The process in which an issuing bank requests a copy of the sales draft electronically through the card association’a system

Question 2

Reversal/Representment?

Answer 2

The process in which a chargeback is returned to the issuing bank

**Note: this process must occur within 41 calendar days.

Question 3

I.D.S. (“integrated dispute system”)

Answer 3

It is the chargeback viewing tool that allows you to access chargeback and retrieval cases from six different platforms

Question 4

Underwriting?

Answer 4

This area evaluates the credit profile of applications and decisions the approval to allow an account to be on board. There are some applications that are auto approved based on minimal risk the rest go through underwriting for approval.

Question 5

Mid-Risk Management (MRM)

Answer 5

This department manages accounts that are both credit and fraud risk on a higher level than security. Risk has been assessed between $50K to $200K

Question 6

Periodic Review (PR)

Answer 6

Manages accounts that are credit risk only. The risk of been assessed between $201K and above