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RAC

COLLECTION LINGO

These are phrases and terms that you are likely to hear in your store.
This is what they mean:

Term Definition Example Usage

Close The past-due collection goal for It’s important to hit your
the end of the day. Saturday 5.9% close.

The past-due collection goal
Open for the start of the We managed to open well WELCOME & ORIENTATION / TRAINING ROADMAP
following day. below Friday’s 11.9% goal.

Clear Resolve a past-due account You need to clear four today.
through payment or return

You need to clear three cards
A card is equal to one balance
Card to hit your collection goal
on rent (BOR).
today.

A red tag refers to any BOR
Red Tag / Red Card / Reds that is seven or more days past Today I need to clear five red
/Upper Day due. (Red tags are also referred tags to hit the 2.9% Thursday
reds goal.
to as red cards or upper days.)

A customer who has moved,
taken the company’s I can’t reach Mrs. Smith
merchandise them without anymore and one of her
Skip updating their contact references said she moved.
information. Typically, these Looks like she might
accounts are significantly have skipped.
past due.

An account that is due today Route 2 has four cards that are

Fallout but the customer has not rolling tonight that are going to
made a payment yet. (Also affect our card close.
referred to as roll.)

Did You Know?
The term “card” came from the early days before
computers when we kept a card for each account.
When a payment was made, we moved the card from
the past due box and cleared it to the on-time box.

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