Eligibility

Checking an applicant's eligibility for a single New Day product

Overview

You can perform an eligibility check to verify whether certain initial information on applicant's credit report meets the requirements needed for availing credit. It is only a soft check at this stage and it does not impact the applicant's credit history. It is a preliminary verification that minimises chances of rejection during the actual application process, which involves a hard check of the applicant's credit history.

Benefits

Instant credit decision

The API provides credit quotation on each appropriate NewDay product and enables an applicant to instantly apply for credit.

Straight forward decision

The API responds with binary decisions — whether the applicant is accepted to apply for credit, needs to provide with additional information, or is rejected.

APR and credit limit

The API response mentions the APR of a NewDay product and the maximum credit limit allowed to the applicant

Requesting eligibility decision

post/applications/{id}/eligibility
provides you with real-time credit quotation decision. You provide the application identifier id and we map it with the product information stored to check for the applicant's eligibility for the product. It provides the following response:
  1. 1
    quoteAccept The applicant is approved to apply for NewDay credit.

    - downsell An eligibility check has been completed and the applicant has been accepted for the downsell rate.

    The downsell rate is higher than the headline rate and provided to applicants that have passed our eligibility criteria, but did not qualify for the headline rate.

    - If no substate is returned, an eligibility check has been completed and the applicant has been accepted for the headline rate.

    The headline rate is the marketed rate for the NewDay product. These privileges are entirely optional and are not always allowed to the applicant, even when they are accepted or referred for NewDay credit.

    Next steps: Applicant continues to decision. Tip: Display eligibility approved decision message.

    - refer Applicant has been accepted for the headline rate but is likely to be referred following the decision call.

    - referDownsell Applicant has been accepted for the downsell rate but is likely to be referred following the decision call.

    Next steps: Applicant continues to decision. Tip: Display referred decision message.

    - complexRefer NewDay is unable to complete an eligibility check due to a technical error.

    Display message to instruct applicant to try again in 24 hours.

    The following snippet explains a successful eligibility check:

    Javascript

    1200 OK
    2    Content-Type: application/json 
    3
    4    {
    5      "state": "quoteAccept",
    6      "subState": "complexRefer",
    7      "creditLimit": ...,
    8      "apr": ...,
    9      "customerRef": ...,
    10      "documents": [ "{documentType1}", "{documentTypeN}" ]
    11    }
  2. 2
    quoteDecline The application for availing credit is rejected.
    - dupeApplication An eligibility check has been completed and the applicant has been declined because they already have a live application.

    Display a message relating to this state.

    - If no substate has been returned An eligibility check has been completed and the applicant has been declined. This wil have no impact to their credit file.

    Display generic eligibility Decline decision message.

  3. 3
    complex An unexpected problem has occurred, and it has not been possible to progress the current application.

    The customer can re-try at any time.

The Annual Percentage Rate (APR) of the specific NewDay product will be mentioned in the response.

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