Most business owners do not realize that a Credit Policy is a channel where you can control your bottom line, sales and income. Using a Credit Policy to increase your sales and profits is a smart maneuver that most businesses ignore.
When a potential customer fills out a credit application you can get near-perfect information about that customer and how they pay their bills and if they can afford more credit. Most consumers that take the time to fill out a credit application are serious about buying from you; otherwise they would go down the road to where they can purchase without filling out anything.
Extensive research shows that consumers that can obtain credit will pay more for a product or service when they are extended credit. The result? More sales, income and happy customers for your business. This can result in more credit approved customers through word of mouth advertising, the best form or advertising there is.
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