This page covers the options available on the Account Type Settings, Credit Limit page. Beneath the image you will find brief descriptions of the relevant check boxes and fields.
Used/Count
Define if and how many Credit Limits are to be used per account.
Keep Credit Limits when Refinancing?
Tick to keep the Credit Limits from the original Account's Limits when Refinancing a Loan Account.
Use Pending Withdrawals?
Define if Accounts of this Account Type use Pending Withdrawals.
Use Uncleared Funds?
Define if Accounts of this Account Type use Uncleared Funds when calculating available credit.
Description
Define the Credit Limit description, up to 50 characters.
Value
Define the value of the Credit Limit.
Description
Define the Credit Limit description, up to 50 characters.
Value
Define the value of the credit limit.
Description
Define the Credit Limit description, up to 50 characters.
Value
Define the value of the Credit Limit.
Default Basis
Define the basis to calculate the over Credit Limit basis.
| Default Basis | Description |
|---|---|
| None | To have no over limit charge. |
| Balance | Credit Limit - Balance = $$ Over Limit |
| Balance less Interest | Credit Limit - Balance - Interest Balance = $$ Over Limit |
| Balance less Interest/Fees | Credit Limit - Balance - Interest Balance - Fees Balance = $$ Over Limit |
Threshold %
Define a percentage to allow the credit to exceed before it is in default .
Threshold
Optionally enter a "Threshold" amount for charging default interest. If the Balance is equal to the Credit Limit plus the threshold or below this value then default interest is not charged for the period.
Charge Basis
Options are: None, Per Charge, Per Day, Per Month. If you choose other than None you may then enter a Default fee amount. Per Charge is a flat fee that is charged if the loan has been in arrears at any time during the interest period irrespective of number of days in the current period.
Value
Define the value of the default fee to charge.