Credit Limits and Terms

Configure the terms of your charge card program

Lithic's commercial charge card product allows you to configure the terms of the card by business client. This gives customers the flexibility to set custom billing and payment period for each of their business clients, all within the same program.

With Lithic, you can customize the following configurations for each enrolled business:

  • Billing Period: number of days between statements
  • Payment Period: when payment for a statement is due
  • Credit Limit: maximum amount that a business can borrow for spend across all their employees' cards
  • External Bank Account: the external bank account that Lithic will auto-collect from when payment is due

Credit Configuration Schema

  "collections_configuration": {
    "billing_period": Integer,
    "external_bank_account_token": String,
    "payment_period": Integer,
  "credit_limit": Integer,
  "token": String,
billing_periodNumber of days between billing statements
external_bank_accountExternal bank account that Lithic will collect repayment from
payment_periodNumber of days after the billing period ends that repayment will be due
credit_limitMaximum credit extended to the account holder for spend
tokenGlobally unique identifier for the credit configuration

API Endpoints

Lithic supports the following endpoint to retrieve and post data to Credit Configurations: