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 and limitRenewFrequency properties.
... requesting a card (Create card request) via requestedLimit and limitRenewFrequency properties.
... approving a card request (Approve Card Request) via approvedLimit and limitRenewFrequency properties.

For limitRenewFrequency you can choose between:

MONTHLY - card limit (set via limit property) refreshes every calendar month (default value)
QUARTERLY - card limit refreshes every calendar quarter
ANNUAL - card limit refreshes every calendar year
TOTAL - 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 new limit property.

Important notes:

If you modify the card limit frequency it affects cards immediately meaning that if an existing card is changed from QUARTERLY to MONTHLY the limit will be renewed with the next calendar month already!