Account Holders

An Account Holder is an individual who has an account in the CoreCard system. You can use CoreCard APIs to create an account, add or remove account holder(s), and to update to account attributes. 

CoreCard has three types of account holders:

Applicant/Primary Account Holder: The main account holder who is the sole owner of the account and has the right to modify account-related attributes and is liable for making payments against the due calculated.
 

Co-applicant/Secondary Account Holder: The Co-applicant is the additional account holder who may or may not have similar rights as the primary account holder. The Co-applicant may or may not share the liabilities of the account with the primary account holder. Also, the Secondary Account Holder can have a child relation that  the primary account holder controls. In that case, the Secondary Account Holder is the only participant who enjoys rights given by the Primary Account Holder but does not have any liability to make payments. You can use CoreCard APIs to add or remove a Co-applicant/Secondary Account Holder to the account and update account control attributes to define the rights and liabilities of Co-applicants/Secondary Account Holders.
 

Co-signer: The Co-signer only shares liabilities of a Primary Account Holder in the case the Primary Account Holder does not make the payments. Also, the Primary Account Holder can benefit from the high credit score of the Co-signer while seeking a line of credit from a creditor.

CoreCard stores personal identification information (PII) data, level of controls, and specific configurations for all types of account holders. 

A card account can also be used by other participants, such as a child. A parent can limit the account-related rights and activity for the child using the CoreCard system. 

You can also create the account with the Co-applicant on it, who shares the credit facilities and liabilities related to the account. The account can also be created with a Co-signer. 

In general, a card is created for an account, which means that to have a card issued, an account is required. Card related attributes like card number (PAN), card expiry date, CVC/CVV2, and association details are linked to the card account and the card is issued to the account holder. An account holder can use the card for making payments at different merchant points of sale and online. 

You can create an account with the account holder's details and a plastic card can be issued to the account holder who represents the account. Any transaction made using the issued card affects the account balances, fees, interest levied on the account, and other considerations. You can control these attributes using the card and account control parameters.