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15 minute read
September 1, 2022

Managing Credit Programs in the Marqeta Dashboard (Beta)

Note
This feature is currently in limited-availability beta and subject to change. To learn more about the beta program for this feature, contact your Marqeta Customer Service representative.

Use Credit Programs in the Marqeta Dashboard to view and manage the policies, bundles, and templates in your credit program. Depending on your role, you can accomplish tasks such as:

  • Create and view credit policies for credit products, APRs, fees, and rewards.

  • Create, activate, view, and archive bundles.

  • View templates available for the program to use.

The basics

To manage credit programs, log into the Marqeta Dashboard and select Credit Programs from the sidebar. For more on accessing the Marqeta Dashboard, see Access the Marqeta Dashboard.

Policy library

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Roles

Marqeta Dashboard users with an Admin role can assign roles to other users. For details on how to manage users as an Admin, see User management.

Roles define the privileges that are available to Dashboard users. Credit Program users can be assigned the following roles:

Roles Privileges

Creator

  • Create new policies

  • View existing policies.

  • Create inactive bundles.

  • View active bundles

  • View templates.

  • View items in the work queue.

Approver

  • View policies.

  • Approve bundles.

  • View templates.

  • View and work on items in the work queue.

Brand contributor

  • View bundles.

  • Activate bundles.

Policy library

Use the Policy Library to create and view your credit product policies, which contain custom configurations for credit products, APRs, fees, and rewards.

If you have the Creator role, you can combine the policies into a bundle. By choosing specific policies to add, you can create a bundle with the exact configurations needed to launch a new credit program or help manage an existing one.

The configurations of each policy in a bundle determine the characteristics and attributes of the bundle’s associated credit accounts, reward programs, disclosures, and more. For more on bundles, see Bundles.

Note

To view the complete endpoint reference available for reference purposes only, see Policies.

To create and manage policies, you must use the Marqeta Dashboard.

Creating a credit product policy

If you have the Creator role, you can create a new credit product policy as described in Roles.

To create a credit product policy:

  • Select Policy Library > Create new > Credit products.

  • Select the card product and assign it a level, either premium or traditional.

  • Enter a name and description of the credit product policy.

  • Review the credit product classification, type, subtype, and currency type.

  • Define the credit limit minimum and maximum amounts.

  • Review the billing cycle day, payment due day, and balance usage.

  • Define the minimum payment percentage and amount.

  • Select whether to include the past due amount in the minimum payment.

  • Review the method, daily periodic rate day count convention, and balance types to include in the interest application.

  • Enter the minimum interest amount.

  • Review the residual interest, grace days application, credits application, excluded transaction types, and the payment allocation order.

  • From the top-right corner, select Create policy.

To view your newly created credit product policy, go to Policy library > Credit products and select the name of your credit product policy.

Viewing a list of credit product policies

To view a list of credit product policies, go to Policy library > Credit products.

Credit product policies are listed by name. Each line item displays:

  • Credit product name.

  • Credit limit minimum and maximum.

  • Date the credit product was created.

Credit product policy details

To display the credit product policy details, select the credit product name from the list of credit product policies.

The following Credit product policy information is displayed.

  • Card product selection - Name of the card products associated with the credit product policy.

  • Credit product name - Name of the credit product.

  • Credit product description - Description of the credit product.

  • Credit product classification - Class to which the credit product belongs.

  • Credit product type - Type of credit product.

  • Credit product subtype - Subtype of the credit product type.

  • Currency - The ISO 4217 currency code of the credit product.

  • Credit limit minimum - Minimum amount of the credit limit.

  • Credit limit maximum - Maximum amount of the credit limit.

  • Billing Cycle Day - Day of month the billing cycle starts

  • Payment due day - Day of month the payment for the previous billing cycle is due.

  • Usage - Balance type that uses the credit product.

  • Minimum payment percentage - The percentage of the statement balance that helps determine the minimum payment value.

  • Minimum payment amount - The fixed amount that helps determine the minimum payment value.

The following Interest calculation information is displayed.

  • Method - Method of interest calculation.

  • Daily periodic rate day count - Day-count convention.

  • Include in interest application - Balance type on which interest is applied.

  • Minimum interest - When interest is applied, this value is the minimum amount of interest that can be charged.

  • Residual interest - Determines whether to charge or waive interest for the billing period when the balance is paid off.

  • Grace days application - Determines the last day of grace period based on which interest charges are calculated.

  • Credits application - Cycle type and day that credits are applied in the daily balance calculation.

  • Excluded transaction types - Transactions that are excluded from current billing period’s interest charge, but included in next.

  • Payment allocation order - Ordered list of balance types to which payments are allocated, from first to last.

To exit credit product policy details, select x from the top-right corner.

Creating an APR policy

If you have the Creator role, you can create a new APR policy as described in Roles.

To create an APR policy:

  • Select Policy Library > Create new > APRs.

  • Enter a name and description of the APR policy.

  • Review the usage type and APR type.

  • Select a pricing strategy from the list of available strategies.

    • For the selected pricing strategy, review the Go-to APR for each risk tier and its corresponding margin.

  • From the top-right corner, select Create policy.

To view your newly created APR policy, go to Policy library > APRs and select the name of your APR policy.

Viewing a list of APR policies

To view a list of APR policies, go to Policy library > APRs.

APR policies are listed by name. Each line item displays:

  • APR name.

  • Go-to range rate.

  • Date the prime rate went into effect.

APR policy details

To display APR policy details, select the APR name from the list of APR policies.

The following APR policy information is displayed.

  • APR policy name - Name of the APR policy.

  • APR policy description - Description of the APR policy.

  • Usage - Balance type that uses the APR.

  • APR - Type of APR.

  • Pricing strategy - List of pricing strategies. Each line item displays:

    • Pricing tier

    • Margin rate

    • Go-to rate

  • Effective date - Date the prime rate is effective.

To exit APR policy details, select x from the top-right corner.

Creating a fee policy

If you have the Creator role, you can create a new fee policy as described in Roles.

To create a fee policy:

  • Select Policy Library > Create new > Fees.

  • Enter a name and description of the fee policy.

  • Select whether to include late payment fees in the fee policy.

  • Select No late payment fees to exclude late payment fees.

  • Select Include late payment fees and enter a late payment fee amount to include late payment fees.

  • From the top-right corner, select Create policy.

To view your newly created fee policy, go to Policy library > Fees and select the name of your fee policy.

Viewing a list of fee policies

To view a list of fee policies, go to Policy library > Fees.

Fee policies are listed by name. Each line item displays:

  • Fee name.

  • Amount of the late payment fee.

  • Amount of the returned payment fee.

Fee policy details

To display fee policy details, select the fee name from the list of fee policies.

The following Fee policy information is displayed.

  • Fee name - Name of the fee policy.

  • Fee description - Description of the fee policy.

  • Late payment fee - Amount of the late payment fee.

  • Return payment fee - Amount of the returned payment fee.

To exit APR policy details, select x from the top-right corner.

Creating a reward policy

If you have the Creator role, you can create a new reward policy as described in Roles.

To create a reward policy:

  • To create a reward policy, select Policy Library > Create new > Rewards.

  • Enter a name and description of the reward policy.

  • Review the reward type, merchant category code (MCC) rule, and reward period.

  • Add a minimum purchase rule.

    • Enter the percentage reward that the cardholder can earn.

    • Select whether the cardholder must spend greater than a minimum amount, less than a maximum amount, or within a range of amounts.

    • Enter the minimum or maximum amount the cardholder must spend to earn the reward.

  • From the top-right corner, select Create policy.

To view your newly created reward policy, go to Policy library > Rewards and select the name of your reward policy.

Viewing a list of reward policies

To view a list of reward policies, go to Policy library > Rewards.

Reward policies are listed by name. Each line item displays:

  • Reward name.

  • Description of the reward.

  • Type of reward.

Reward policy details

To display reward policy details, select the reward name from the list of rewards. The following reward policy information is displayed.

  • Reward name - Name of the reward policy.

  • Reward description - Description of the reward policy.

  • Reward type - Type of reward.

  • Merchant category code (MCC) rule - MCCs eligible for the reward.

  • Reward period - The period for when the reward is eligible.

  • Any reward rules - Each reward rule displays:

    • Earn - The reward percentage applied when the balance for a billing cycle fits the spend rule and amounts specified. For example, a 1% earn means that the account holder earns 1% of the account balance if they spend according to the spend rule and amounts specified.

    • Spend rule - Whether the account balance has to be greater than than a specified amount, less than a specified amount, or within a range of specified amounts to earn the reward.

    • Minimum or maximum amount - The minimum and maximum amounts that the balance for a billing cycle can be to earn the reward.

  • Event rule - When the reward is applied.

To exit reward policy details, select x from the top-right corner.

Bundles

Use Bundles to create and view your bundles. A bundle consists of several policies "bundled" together. Each bundle must contain one credit product policy, APR policy, and fee policy. A reward policy is optional.

The configurations of each policy in a bundle determine the characteristics and attributes of the bundle’s associated credit accounts, reward programs, disclosures, and more. For more on policies, see Policy library.

Note

To view the complete endpoint reference available for reference purposes only, see Bundles.

To create and manage bundles, you must use the Marqeta Dashboard.

Bundle statuses

A bundle can have one of the following statuses.

Status Role Description

Active

Creator

Approver

Brand contributor

The bundle is active and can be used.

Approved

Creator

Approver

The bundle has been approved and is awaiting activation.

Awaiting activation

Brand contributor

The bundle has been approved and is awaiting your activation to become active.

Rejected

Creator

Approver

Brand contributor

The bundle has been rejected and cannot be restored.

Submitted to Approver

Creator

The bundle has been submitted to the Approver and is awaiting approval.

Needs your revision

Creator

The bundle has been reviewed by the Approver and needs your revision.

Needs your review

Approver

The bundle is awaiting approval and needs your review.

Sent for revision

Approver

The bundle has been sent back to the Creator for their revision.

Creating a bundle

If you have the Creator role, you can create a new bundle as described in Roles.

To create a bundle:

  • Select Bundles > Create new.

  • Enter a name and description of the bundle.

  • Select a credit product policy, APR policy, fee policy, and reward policy to add to the bundle.

  • From the top-right corner, select Continue.

  • Enter a note about the bundle to the Approver.

  • In Disclosures, review and download the Summary of Credit Terms (SOCT) for future use.

  • Review each policy and ensure the configurations for the credit product policy, APR policy, and fee policy are captured in the SOCT.

  • From the top-right corner, select Submit to send the bundle to the Approver for review.

Viewing a list of active and rejected bundles

To view a list of active and rejected bundles, go to Policy library > Bundles. To view bundles in other states, such as review or revision, see the Work queue.

Bundles are listed by name. Each line item displays:

  • Bundle name.

  • Status of the bundle.

  • Date the bundle was created.

Bundle details

To display bundle details, select the bundle’s name from the list of bundles.

  • The Note section allows Creators and Approvers to make notes about the bundle to each other. Enter a note to be viewed by others working on the bundle.

  • The Disclosures section displays the Summary of Credit Terms (SOCT).

    • Select to view the SOCT.

  • The bundle’s credit policy details are displayed.

To exit viewing bundle details, select x from the top-right corner.

Work queue

If you have the Creator or Approver role, you can use the Work queue to manage your bundles needing revision, needing review, awaiting approval, or awaiting activation.

Bundles are listed by name. Each line item displays:

To view a bundle’s details, select its name from the list.

Templates

In Templates, you can view the templates available for your credit program, such as the pre-application and post-application templates, statement templates, Notice of Adverse Action (NOAA) templates, and more. These templates are used as the basis to generate the final disclosures during bundle creation.

Templates are listed by name and categorized into sections. To view a template, select its name.

Section Template name Description

Application stage

Account opening

Rewards Program Terms and Conditions

Template for the Rewards Disclosure, which contains information about the rewards program for a bundle.

The Rewards Disclosure must be displayed to a user before their application is submitted (pre-application) and after their application is approved (post-application).

Application stage

Summary of Credit Terms

Template for the Summary of Credit Terms (SOCT), which outlines the terms of an account, such as the interest rates, interest charges, associated fees, and more.

Account opening

Benefits - Premium

The Benefits Disclosure template for a premium card product, which discloses the network benefits of a Mastercard World or Visa Signature card.

Account opening

Benefits - Traditional

The Benefits Disclosure template for a traditional card product, which discloses the network benefits of a traditional Mastercard or Visa card.

Account opening

Card member agreement

Template for the Card Member Agreement, which specifies the terms and conditions of an account, including the interest rates, interest charges, fees, minimum payment calculations, and more.

Account opening

Terms schedule

Template for the Terms Schedule, which specifies the interest rate details on the user’s credit account.

Failure to credit

Multiple reasons with Dodd Frank section

The Notice of Adverse Action (NOAA) template for when an application is declined for multiple reasons related to the applicant’s credit score. This template contains a Dodd-Frank section that discloses their credit score and the information related to that score that was used to decline their application.

Failure to credit

Single reason

The NOAA template for when an application is declined for a single reason.

Failure to credit

Single reason with Dodd Frank section

The NOAA template for when an application is declined for single reason related to the applicant’s credit score. This template contains a Dodd-Frank section that discloses their credit score and the information related to that score that was used to decline their application.

Application

Esign policy

Template for the eDisclosure, which states that users are to receive their disclosures electronically.

Application

Privacy policy

Template for the Privacy Policy, which explains how an applicant’s data is used and managed.

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