Unsecured Charge Card

An unsecured charge card offers a credit line without requiring collateral. Like the Secured Smart Card it is a charge product — the balance must be paid in full by the statement due date and cannot roll over — so there are no interest charges. Unlike the secured version, it requires underwriting and a credit decision. Charge cards may not have a pre-set credit limit; spending power can vary with the cardholder’s spending habits, payment history, and credit record. Timely payments can improve a cardholder’s credit; missed payments can damage it. Charge cards can be issued to consumers or businesses.

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Step 1 — Create and Verify the Customer

Complete the person or business setup, including KYC/KYB. See Create a Personal Customer, Create a Business, and KYC/KYB Verification.

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Step 2 — Record Disclosures

At the time the application is created:

1. E-Sign
2. Privacy Notice
3. USA Patriot Act Notice
4. Owner Certification (business customers)

Prior to the account being created:

1. Account Terms & Conditions
2. ACH Authorization

See Record Disclosure Acceptance.

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Step 3 — Create the Application

A CHARGE_UNSECURED account cannot be created until the customer applies through the Application API. See Credit Applications.

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Step 4 — Handle Adverse Actions

If the application is denied, adverse action reasons must be sent to personal customers, and the adverse action ID included in the application when its status is marked CREDIT_DENIED. This is optional for business customers. See Adverse Actions.

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Step 5 — Create the Account Template and Account

Set up an account template specific to unsecured charge, then create the CHARGE_UNSECURED account from it. See Unsecured Charge Accounts.

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Step 6 — Issue the Card

Issue against the charge account with "type": "CREDIT". Physical and virtual cards are both supported. See Card Issuance and Management.

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Step 7 — Issue Statements

Charge accounts are billed on a cycle, so statements drive repayment. See Statements.