Lines of credit
Generate as many lines of credit as you want to offer to your clients.
Introduction
A line of credit is a form of financing, an agreement that allows your clients to access a specific amount of money up to a maximum limit that you establish.
Our Credit Core allows you to manage the credit offer for your clients, represented by lines of credit that you can create and customize according to your preferences.
Attributes of a line of credit
| Has a lifecycle | The line of credit goes through different states and based on that allows one action or another. |
| Manages the limit and the available | You will be able to define a unique limit for the credit card. Learn more. |
| Authorizes transactions | According to the available balance and the state of the line of credit. |
| Determines the closing and due dates | The specific closing date is defined for each client in the line, based on the options defined in the product. Read more about closing and due date. |
Conditions
Your customers can have up to two credit lines per product: one with person_type: NATURAL and another with LEGAL. Every time you create a credit line, we will validate that this rule is followed.
The credit line contains specific characteristics for each of your customers: limits, due date, maximum number of installments, and more.
Here’s an example of the relationship between a product and a credit line:
In the product, I configure possible due dates as the 10th and the 15th of each month. Then, when creating a credit line for a customer, I need to configure the specific due date I want, choosing between the options defined for the product (10th or 15th).
States of a line of credit
A line of credit will go through different states throughout its lifecycle, and based on these states, different operation options will be enabled.
The different states that a line of credit can go through are:
| OFFERED | The line of credit will be created in this state. It refers to an offer of a product to a user. |
| ACTIVE | The line moves to this state when a credit card is assigned to it. From this moment, transactions can be made. |
| CANCELLED | It implies that you withdrew the offer from your client or your client requested the cancellation of the product. It is a definitive state. If you want to offer the product to that client again, you will have to create a new credit line. |
| PAUSED | It is a temporary state. If the line is paused, all associated credit cards will have all operations rejected. Reasons for pausing: Delinquency: the pause is automatically applied if your client does not make a payment between the minimum and the total before the due date plus the grace days you have defined. Fraud: you can use this pause manually if you detect any irregularity and want to temporarily block the use of all cards associated with this line of credit. You can pause the lines of credit from the Dashboard or via API. |
| EXPIRED | The time for your client to accept the offer of the product has expired. |
In this chart, we can see the states of a line of credit during its lifecycle.
Frequently Asked Questions
How can I check the limit of a line of credit?
From the endpoint Get a line of credit, in the field Balances_limit.
How can I check the available balance of a line of credit?
From the endpoint Get a line of credit, in the field Balances_available.