Card limit frequencies
We added the card limit frequencies feature to our API product.
This topic is especially relevant for embedded partners!
What is it about?
We added something new to our API: card limit frequencies. With this feature, you are able to set a card limit frequency while creating cards and card requests as well as fetching data regarding card limit renewal when reading card data. You can even change the card limit frequency for existing cards.
What does it mean? Per default credit cards do revert back to their limit each calendar month. With card limit frequencies you are able to control if and when a card limit renews. There is even a way to define a total limit which is never gonna be renewed at all.
How to use it?
You do have a possibility now to define a card's limit frequency when...
- ... issuing a card (Issue card) or changing card limits (Update Card limits) via
limit
andlimitRenewFrequency
properties. - ... requesting a card (Create card request) via
requestedLimit
andlimitRenewFrequency
properties. - ... approving a card request (Approve Card Request) via
approvedLimit
andlimitRenewFrequency
properties.
For limitRenewFrequency
you can choose between:
MONTHLY
- card limit (set vialimit
property) refreshes every calendar month (default value)QUARTERLY
- card limit refreshes every calendar quarterANNUAL
- card limit refreshes every calendar yearTOTAL
- card limit does not refresh. Once the amount is spent the card is not usable anymore.
To keep track of this for existing and new cards we added a couple of new properties to our Card Details and Card Request Details endpoints.
limitRenewFrequency
requestedLimit
(only for Card Request Details)limit
(only for Card Details)limitPeriodEnd
(only for Card Details)limitRenewDate
(only for Card Details)
With this feature we do put the
monthlyLimit
property to deprectated status. For now it returns the card limit (independent of the card limit frequency). As this is kind of misleading we ask you to build or adapt your implementation based on the newlimit
property.
Important notes:
- If you modify the card limit frequency it affects cards immediately meaning that if an existing card is changed from
QUARTERLY
toMONTHLY
the limit will be renewed with the next calendar month already!