Update line of credit account

This request updates an existing line of credit account.

 Click here to learn more about updating line of credit accounts

Updating Line of Credit Accounts

A line of credit account can be updated after creation. Here's are some things to note about updating accounts:

  • Line of credit accounts are represented by the LineOfCredits entity, and nested within the LineOfCredits entity are objects that hold specific sets of information. The objects that hold account configuration information are the LineOfCreditSettings object and LineOfCreditSetup object.
  • Updating information within a nested object requires the ID of the object and the "__update" field. For more information on updating nested objects, take a look at our Adding and Updating Nested Entities ↗ guide.

Database

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

{
    "displayId": "New LOC Display ID",
    "LineOfCreditSetup": {
        "__id": 2394,
        "__update": true,
        "openDate": "2022-02-01",
        "firstStatementDate": "2022-02-28",
        "firstDueDate": "2022-03-15",
        "drawPeriodExpirationDate": null,
        "totalCreditLimit": "2500.00",
        "lateFeeType": "lineOfCredit.lateFeeType.lesser",
        "fixedDollarAmount": "30.00",
        "unpaidPercentage": 0,
        "lesserFeePaymentValue": "0.00",
        "lesserFeePaymentPercentage": "0",
        "greaterFeePaymentValue": "0.00",
        "greaterFeePaymentPercentage": "0",
        "allowOverdraft": 1,
        "cardActFriendly": 0,
        "lateFeesInterestBearing": 0,
        "allowMultipleDisputes": 1,
        "LineOfCreditSetupBuckets": {
            "results": [
                {
                    "bucketId": 1,
                    "isPrimaryBucket": 1,
                    "compoundPastInterestCharges": "1",
                    "accountEnabled": 1,
                    "creditLimit": "2500.0000",
                    "interestChargeMethod": "lineOfCredit.bucketInterestChargeMethod.interest",
                    "computationMethod": "lineOfCredit.bucketComputationMethod.dailyBalance",
                    "newTransactions": "lineOfCredit.newTransactions.include",
                    "interestRate": "11.0000",
                    "interestAbatementMethod": "lineOfCredit.interestAbatementMethod.openDate",
                    "interestAbatementDays": 0,
                    "daysInYear": "loan.daysInYear.actual",
                    "minimumInterestCharges": "0.00"
                },
                {
                    "bucketId": 2,
                    "isPrimaryBucket": 0,
                    "compoundPastInterestCharges": "1",
                    "accountEnabled": 1,
                    "creditLimit": "1200.0000",
                    "interestChargeMethod": "lineOfCredit.bucketInterestChargeMethod.interest",
                    "computationMethod": "lineOfCredit.bucketComputationMethod.averageBalance",
                    "newTransactions": "lineOfCredit.newTransactions.include",
                    "interestRate": "24.0000",
                    "interestAbatementMethod": "lineOfCredit.interestAbatementMethod.transactionDate",
                    "interestAbatementDays": 75,
                    "daysInYear": "loan.daysInYear.actual",
                    "minimumInterestCharges": "2.00"
                },
                {
                    "bucketId": 3,
                    "isPrimaryBucket": 0,
                    "compoundPastInterestCharges": "1",
                    "accountEnabled": 1,
                    "creditLimit": "500.0000",
                    "interestChargeMethod": "lineOfCredit.bucketInterestChargeMethod.interest",
                    "computationMethod": "lineOfCredit.bucketComputationMethod.previousBalance",
                    "newTransactions": "lineOfCredit.newTransactions.exclude",
                    "interestRate": "5.0000",
                    "interestAbatementMethod": "lineOfCredit.interestAbatementMethod.openDate",
                    "interestAbatementDays": 180,
                    "daysInYear": "loan.daysInYear.actual",
                    "minimumInterestCharges": "1.00"
                }
            ]
        },
        "LineOfCreditSettings": {
            "__id": 2948,
            "__update": true,
            "autopayEnabled": 0,
            "loanStatusId": 6,
            "loanSubStatusId": 31,
            "paymentTypeDefault": 1,
            "sourceCompany": null,
            "merchantProcessorGroupId": 1,
            "cardFeeType": "loan.cardfee.types.0",
            "cardFeeAmount": "5",
            "cardFeePercent": "3",
            "lineOfCreditStatementTemplateDefault": 1,
            "secured": 1,
            "isStoplightManuallySet": 0,
            "lineOfCreditPaymentTypeDefault": 1,
            "CustomFieldValues": {
                "results": [
                    {
                        "customFieldId": 1,
                        "customFieldValue": "2"
                    }
                ]
            }
        }
    }
}
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