Tips from Lender*VP: Verifying Maturity and Review Dates for Online Credit Cards and LOC Products

For online credit cards, as well as for any LOC products where you’ve elected to use the new % to use for calculating payment feature for calculating payment amounts, the system will not always be able to assign maturity/review dates the way other loan products do, since the payment isn’t being amortized in the usual way.

Because of this, we recommend always verifying the maturity and review dates on those accounts once they’re created.  An easy way to do this is via Tool #788 Selective Loan Information Report, filtering by loan category and open dates.  If necessary, you can adjust both the maturity date and the review date by using Tool #20 Update Account Information.

For more information on adding % to use for calculating payment to the loan product configuration, check out this AnswerBook topic.

If you have any questions, please reach out to the Lender*VP Team at: lendervp@cuanswers.com.

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