Estimate Credit Card Payoff
This screen is displayed when you select a credit card loan and choose the “Payoff” action on the Phone Operator Account Processing screen or by using Tool 1235: Loan Payoff Estimator and selecting a credit card loan on the second screen.
This screen is used to determine payoff information for a credit card loan. The left side of the screen shows the payoff amount calculated as of the current date. Use the right side of the screen to enter a date or number of days, then use Enter and the system will calculate the payoff amount as of that date. (See note below on what is calculated in this estimate.)
Use the up arrow (Cancel) when done to return to previous screen.
This amount is to serve as an estimate. CU*BASE takes the average daily balance and calculates an “estimated” interest amount. The Payoff amount calculated displays the balance plus the estimated finance charges. This amount does not include interest or any added fees the member might accrue in this statement cycle. CU*BASE does not review the exact amount the member will owe at the end of the cycle.
You can activate a feature to record the payoff information in a Tracker conversation. To activate the feature check "Generate a tracker for loan payoff requests" on the Teller/Member Workflow Configuration and designate a Tracker Type and Memo Type for the conversation. Then every time you use Enter on this Payoff screen, CU*BASE will automatically generate a tracker that will appear on the loan associated loan sub account. This way these Tracker entries will appear on a much shorter list of Trackers and will be separate from the main share account Tracker listing. The payoff requests can then be routed to a loan officer or other employee for follow up.