What does the status of checkout profiles mean?

These are the current status definitions for checkout profiles in a myTI company account:

An API eligible checkout profile has no errors and is API ready.
A TI store eligible checkout profile has one or more fields missing. To complete this profile, from the Checkout profiles page, click the Pencil icon and add information to the empty fields.

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Why can't I edit an existing checkout profile?

Why don't I see any existing checkout profiles when checking out?

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