“We want to remind both our loyal Bosch Service credit cardholders and new customers of the value that Bosch Service and CFNA bring by giving them a dedicated line of credit for their car repair needs.”
Cleveland, OH (PRWEB) October 10, 2016
Since 2011, Credit First National Association (CFNA) and Bosch Service have partnered to offer credit card financing to qualifying cardholders at more than 1,000 Bosch Service centers in the United States.The partnership has meant steady growth for both organizations. They now mark a long-term extension of Bosch’s private label credit card program agreement with the launch of a newly rebranded Bosch Service credit card. Consumers can apply for the Bosch Service credit card in-store or online.
“We’re excited to renew our commitment to offering Bosch customers payment flexibility with a freshly rebranded card,” said Mark Polke, director of Bosch’s workshop concepts and services in North America. “We want to remind both our loyal Bosch Service credit cardholders and new customers of the value that Bosch Service and CFNA bring by giving them a dedicated line of credit for their car repair needs.”
Currently, 70% of the Bosch Service network in the United States is enrolled and able to offer the Bosch Service branded CFNA credit card. Those service centers offer their customers an alternative to the standard credit card and other payment options without assuming the risk that comes with financing customer purchases themselves; CFNA manages the credit card program and performs all the key functions.
CFNA pays the service center within two business days of the sale, minus the merchant discount rate, to help maintain a steady cash flow for the business. The customer repays CFNA over time.
The Bosch Service credit card program also includes CFNA’s 6-Month Promotional Credit Plan, which offers customers six months of deferred interest on purchases of $299 or more if paid in full within six months and required minimum monthly payments are made.
“The Bosch Service card’s 6-Month Promotional Credit Plan really helps us grow sales by offering our customer a way to spread out larger repair expenses,” said Carmine Cupani, founder of Carmine’s Import Service, a Bosch Car Service center in Kernersville, North Carolina.
“It’s simple— we experience a higher average repair order when a customer pays with the Bosch Service card, so we mention it to every customer that walks through our doors,” Cupani added.
In fact, CFNA has approved 60% of Bosch credit card applicants, and average first sales on the Bosch card are $1,000.
“I tell all of our customers about the Bosch Service credit card. It’s not just for people with financial roadblocks. All customers can benefit from the program,” said Frank Cupelli, owner of Cupelli Automotive, a Bosch Car Service shop located in Lake Worth, Florida.
The Bosch Service credit card gives automotive service shops one more valuable tool to help complete a sale. It’s an option that can be used to close more sales and give customers affordable options for payment.