Check CARD Act Ability to Pay

Evaluates a credit card application against CARD Act §1026.51 ability-to-pay requirements. Computes monthly minimum payment from the requested credit limit and minimum payment percentage. Checks DTI against the 45% threshold using income and assets. Applies the under-21 independent-income restriction (§1026.51(b)). Reports the §1026.52(b) penalty fee safe harbor ($32 first violation / $43 subsequent). CFPB $8 late fee rule vacated January 17, 2025 (Fifth Circuit, No. 24-10266); $32/$43 thresholds remain in effect.

Tool URL: https://ainumbers.co/chaingraph/art-233-check-card-act-ability-to-pay.html

post/v1/tools/check_card_act_ability_to_pay

Request

Base URL: https://ainumbers.co
URL: https://ainumbers.co/v1/tools/check_card_act_ability_to_pay
Auth: none declared

Request body

annual_incomenumber

applicant_agenumber

has_cosignerboolean required

methodunknown required

minimum_payment_pctnumber

Percentage value

monthly_debt_obligationsnumber

monthly_housing_paymentnumber

requested_credit_limitnumber

total_assetsnumber

Response

Successful tool execution result

ability_to_pay_resultstring

annual_incomeinteger

annual_minimum_payments_estinteger

dti_ratiointeger

dti_thresholdnumber

has_cosignerboolean

income_and_assetsinteger

method_a_sufficientboolean

method_b_sufficientboolean

method_usedstring

monthly_debt_obligationsinteger

monthly_housing_paymentinteger

monthly_incomeinteger

monthly_minimum_payment_estinteger

pii_notestring

regulatory_basisstring

requested_credit_limitinteger

requires_cosignerboolean

table_sourcestring

table_versionstring

total_assetsinteger

total_monthly_obligationsinteger

under_21_restrictionboolean

Changes

No recorded changes to this operation across all 1 revision of this API.