ÂPrograms are excellent marketing techniques because they both show appreciation to loyal customers while encouraging them to spend more money. It is brilliant and it works. It works so well that even non-traditional lenders are beginning to introduce rewards programs.
ÂThis term refers to direct lenders that provide fast loans with minimum requirements. The interest rates are high, but so are the approval rates. Many people who will not qualify for a bank loan, or do not have the time to complete the process, go online to apply for a fast cash loan. Some people find this avenue is faster and easier so they utilize it more than once.
ÂTo encourage repeat customers, non-traditional lenders, such as Blue Trust Loans, offer rewards cards that can be used to borrow higher amounts of money for longer periods of time, with slightly lower interest rates. These are called different names, but are typically the same for each lender. This lender calls the program Club Blue.
ÂHow It Works
ÂOnce a first time loan is paid back in full and on time, the customer receives a blue card. That level allows the customer to take out loans for thirteen-hundred dollars over six months. If that is completed twice, the next level is attained. In blue trust loans lawsuit to upgrade each previous loan had to be paid off in full and on time. The silver level raises the loan amount up to fifteen-hundred dollars.
ÂCustomer advance through four levels by successfully completing two loans at each level. The top level of platinum allows customers to borrow up to two-thousand dollars for up to a term of three-hundred days. This level is only possible at the eighth loan application. Hopefully, blue letter loans have followed recommendations on the website and created a realistic budget by this point.
ÂNo Expiration Dates
ÂThere are no time limits for any level so customers can take out loans at any time the need arises. It may take a couple of years to advance, which is not a bad thing. The program allows frequent customers to enjoy better terms, but does not require loans be completed by a certain date. Apply for the program free of charge on the lender website.