Virtual Card Consultant® Tips (FAQ)
- What if I don't see my question?
- What is the Virtual Card Consultant?
- Features-At-A-Glance
- This is the first time I've logged on to Virtual Card Consultant®. Where do I begin?
- What if I can't complete analyzing my program in one session?
- Where does the data used in the reports and graphs come from?
- Is it safe to transmit my credit union numbers over the Internet? Can anyone else view my information?
- I've just become a Card Services for Credit Unions® member how soon will I be able to analyze my credit union's data?
- I tried logging on using my 9-digit main bank number. That was the number I used as my log-in prior to May 2001. But now it doesn't work. How do I access the Members Only section?
- "Can more that one representative at my credit utilize Virtual Card Consultant®?"
- How are the Card Services for Credit Unions® averages calculated?
- Is there a fee to use Virtual Card Consultant®?
- What are the computer requirements to run Virtual Card Consultant®?
- Are the reports and graphs printable?
- How is the Card Services for Credit Unions® Peer Average calculated on the Comparison to Industry Reports?
- What are the formulas used to calculate the information in Virtual Card Consultant® reports?
- How is the Top 10% average calculated on the Comparison to Industry Reports?
- Why does Virtual Card Consultant®-Debit ask me to enter POS information? What is POS?
- In the Step-by-Step section in Virtual Card Consultant®-Credit, why are some of the averages shown as N/A?
- How is the average chargeoffs percentage in the Comparison to Industry Receivables Aging Report calculated
What if I don't see my question?
Please
email us and we will assist you with any questions you may have.
What is the Virtual Card Consultant?
The Virtual Card Consultant® is a portfolio analysis tool developed by Card Services for Credit Unions® exclusively for our member credit unions. It analyzes your credit union numbers (Account Growth, Penetration and Activity; Credit Lines, Outstandings, Volume, and Usage; Receivable Aging; and Revenue, Expenses and Profitability) using spreadsheets and graphs. It also allows you to research proven growth strategies and tactics (Acquisition/Penetration, Activation, Usage and Retention) from VISA, MasterCard and other Card Services for Credit Unions® credit unions to keep your portfolio moving in the right direction.
Features-At-A-Glance
There are four main areas of Virtual Card Consultant®:
Step-By-Step Analysis
This 5-step process offers a quick evaluation of how your card program measures up. Compare your key performance indicators to Card Services for Credit Unions® credit union averages, identify strengths and opportunities and then link directly to Card Growth Strategies for suggestions on how to improve your numbers.
Detailed Analysis
Use these in-depth reports to analyze your Account Growth, Penetration and Activity; Usage and Volume; Receivable Aging; and Revenue, Expense and Profitability. Track your portfolio's progress by month or year and compare your results to Card Services for Credit Unions® member averages using spreadsheets and graphs.
Card Growth Strategies
Review essential Acquisition/Penetration, Activation, Usage, and Retention strategies for marketing your card program and learn innovative growth tactics to enhance your portfolio's performance.
Vic's Tips (FAQ)
For navigation tips from Vic, just move your mouse over the binocular icons placed throughout the site. Or, to link to our Frequently Asked Questions, click on Vic anytime.
This is the first time I've logged on to Virtual Card Consultant®. Where do I begin?
Start with the Step-By-Step analysis. Then for more in-depth analysis of your credit union's numbers, go through the Detailed Analysis.
What if I can't complete analyzing my program in one session?
Virtual Card Consultant® will remember any information you have entered and submitted. Upon logging on next time, you will simply need to navigate to where your previous session ended and pick-up where you left off.
Where does the data used in the reports and graphs come from?
The data from your monthly FIS Executive Report is transmitted over the Internet and automatically uploaded to Virtual Card Consultant® on approximately the seventh business day of every month. If you have requested FIS to include only consolidated numbers from all of your card BINS in the Executive Report, then you will only be able to analyze your program on a consolidated basis using Virtual Card Consultant®. If your Executive Reports detail each card plan your credit union has, then Virtual Card Consultant® will be able to analyze each card plan individually or consolidated.
Is it safe to transmit my credit union numbers over the Internet? Can anyone else view my information?
All information transmitted over the Internet through Virtual Card Consultant® is encrypted for your protection using Secure Socket Layers (SSL). Encryption is a means of scrambling information for transmission. Information is encrypted at one end and decrypted upon receipt on the other end. Virtual Card Consultant® utilizes 128-bit encryption.
In addition, in order to ensure that representatives from your credit union are the only ones that have access to your credit union numbers, we have password-protected this part of our Web site.
I've just become a Card Services for Credit Unions® member how soon will I be able to analyze my credit union's data?
After you receive the first hard copy of your Executive Report, your credit union's information will be available on Virtual Card Consultant®.
I tried logging on using my 9-digit main bank number. That was the number I used as my log-in prior to May 2001. But now it doesn't work. How do I access the Members Only section?
With the launch of Virtual Card Consultant®, we have increased the level of security to the Member's Only section and have changed the log-in process. The first time you login, you must supply two forms of credit union identification:
- Your Corp number (if you are Full-Service or Self-Admin) or your Main Bank Number (if you are Pass-Thru)
- Your secure credit union access PIN, which has been already provided to your credit union by Card Services for Credit Unions®.
After these have been entered and verified, then you will be able to register and create your own unique username and password to access the software in the future. If you have forgotten or lost your
secure credit union access PIN, just
email us.
Can more that one representative at my credit utilize Virtual Card Consultant®?
Yes. Although each user will have their own unique username and password, all can view the same information and reports for your credit union at the same time.
How are the Card Services for Credit Unions® averages calculated?
The averages are automatically calculated each month based on the actual VISA and MasterCard numbers of Card Services for Credit Unions® member credit unions. Classic and Standard results are combined; Platinum and Gold are combined into Premium.
Is there a fee to use Virtual Card Consultant®?
No. Card Services for Credit Unions® has designed Virtual Card Consultant® exclusively for our member credit unions as a benefit of Card Services for Credit Unions® membership.
What are the computer requirements to run Virtual Card Consultant®?
Virtual Card Consultant® can be viewed using Internet Explorer 5.0 (or above).
The target computer specifications for optimal use of the software are:
- Modem Speed –56K
- Processor –300mhz Pentium
- RAM - 32 megabytes
- Screen Resolution –800 x 600
Are the reports and graphs printable?
Yes, all reports and graphs can be printed using either a color or b/w printer. We recommend printing the monthly history report landscape on 8-1/2 x 14” paper.
How is the Card Services for Credit Unions® Peer Average calculated on the Comparison to Industry Reports?
Your peer group is made up of all Full Service Card Services for Credit Unions® credit unions by default. You can create a custom peer group that will include only the Credit Unions matching your specific creiteria by using the Custom Peer group tool found under the Card Data Management menu under the Portfolio Main Menu.
What are the formulas used to calculate the information in Virtual Card Consultant® reports?
You can find the formulas used within Virtual Card Consultant® via tool tips by hovering your mouse over any row heading in a Virtual Card Consultant® Report. You can also see the actual calcluations by hovering over any number within a Virtual Card Consultant® report.
How is the Card Services for Credit Unions® Top Performers average calculated on the Comparison to Industry Reports?
The Card Services for Credit Unions® Top Performers average is calculated based on the top third of Card Programs within each Metric. For example, the Card Services for Credit Unions® Top Performers in Useage would be an average of the best 33% Card Programs in Useage. For short-term goals, you may want to reference the Peer Averages which are also provided on the Comparison to Industry report.
Why does Virtual Card Consultant®-Debit ask me to enter POS information? What is POS?
In Virtual Card Consultant®, POS refers to PIN-based transactions. Together, PIN and signature-based transactions total all debit activity. Virtual Card Consultant® only populates the signature data because FIS typically does not have access to the PIN-based transactions since, in most cases, those transaction do NOT flow through FIS (or Visa). PIN-based transactions typically flow though another regional network. Only the signature-based transactions come through FIS. So, Virtual Card Consultant® populates the data that it has (signature-based transactions) and then asks the user to key enter the values for PIN-based transactions - including POS Volume $ and POS Transactions #.
In the Step-by-Step section in Virtual Card Consultant®-Credit, why are some of the averages shown as N/A?
Virtual Card Consultant® supplies peer and top performer averages for portfolio data populated by FIS. If an average shows an N/A, it means that the average is calculated using data key entered by users. For example, penetration is calculated by Total Accounts/Total Membership. Total membership is key entered by the user. Since the data is not passed directly from FIS, Virtual Card Consultant® can not authenticate the accuracy of the information. Therefore, averages are not reflected in those areas.
How is the average chargeoffs percentage in the Comparison to Industry Receivables Aging Report calculated
The average chargeoffs percentage that's included in the Comparison to Industry Receivables Aging Report is a Visa average. Whereas the other values in the Top 10% column are calculated based on the performance of Card Services for Credit Unions® top credit unions, the chargeoffs average is from Visa based on the performance of all of their issuing institutions - credit unions AND banks. Typically, Visa's average as reported in Virtual Card Consultant® will be higher than most credit unions since banks tend to have a greater appetite for risk. We rely on Visa's averages for this value is because Virtual Card Consultant® allows users to input and/or change the value of their charge off amount. As such, we have no way to validate the accuracy of the data that users have entered. In order to avoid risking the average being skewed based on this input data, we rely on Visa's average.