With Approved Credit (WAC)
Candlefocus EditorA WAC statement is used in advertising to inform potential customers that a promotional offer or deal is only available to those who pass the credit approval process. This process can be for a loan, a purchase or other services on credit. It is designed to protect the advertiser from allegations of false or misleading advertising by making clear that the offer is only available to those who can prove creditworthiness.
The credit approval process is important for both the customer and the business, as it sets the terms for any purchase or other transaction. The bank or institution who approves the credit will determine the maximum amount that can be borrowed and the repayment plan. This ensures that the customer will not borrow more than they can comfortably repay and that they understand the interest rates, duties and other charges associated with the loan.
In many cases, a WAC statement also indicates that some items or services may have restrictions on them. For example, some purchases may require a substantial down payment, or may need to be paid off in full before delivery. These restrictions help to ensure that the customer understands the full terms of any agreement and can make an informed decision.
Finally, a WAC statement also serves to reduce deceptive advertising. Making it clear that a promotional offer is only available with approved credit prevents the client from falsely believing that they can get a good deal without meeting certain credit requirements. This can help prevent cases of fraudulent advertising or false promises.
Overall, a WAC statement is an important disclaimer in advertising to ensure customers understand the credit approval process and to protect the advertiser from false or misleading advertising claims. This statement helps protect both the customer and the advertiser by ensuring any promotional offers or deals are transparent.