Log an interest rate adjustment

This request logs a credit limit adjustments on a line of credit account.

 Click here to learn more about interest rate adjustments

Interest Rate Adjustments

Interest rate adjustments change the interest rate on a line of credit account. Here's what you need to know about this request:

  • The Bucket selected in the bucketId parameter must be the primary Bucket on the account.
  • The date parameter acts as an apply date—the new interest rate will kick in on this date.
  • Credit limit adjustments cannot be applied before the account's open date and cannot be applied in previous billing cycles.

Database

For information regarding Line of Credit database tables, see the following articles:

{
    "lineOfCreditId": 938289,
    "bucketId": 1,
    "date": "2023-10-30",
    "title": "Interest Rate Increase",
    "newRate": 24.99
}
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Authorization
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