Managing your Shopify Credit account

Shopify Credit is a pay-in-full business credit card, requiring full payment of the statement balance within 10 months by the due date to keep your account in good standing. This article outlines account management tasks, including viewing statements, making payments, and handling bank account changes.

Overview of Shopify Credit

On the Credit page of your Shopify admin, you can complete the following tasks:

• view account activity
• access monthly statements
• make payments

There are no annual fees with Shopify Credit, and you can earn cashback on eligible purchases, which is automatically applied to your Shopify Credit account as statement credits.

Statement grace period

Each statement period is followed by a 1 calendar-month grace period. Similar to traditional credit cards, when you repay your full statement balance within the grace period, you won't pay fees or repay your statement balance from daily sales.

By default, you're opted into paying the full statement balance on the last business day of the grace period.

Payment options

By default, you're opted into paying the full statement balance within 1 calendar month by an automatic debit from your linked bank account. This ensures you can avoid fees and maximize spending up to your credit limit.

If you need more time, then you can change your auto-pay direct debit settings to make daily payments, and take up to 10 months to pay your statement balance for a fee. A percentage of your daily sales is automatically debited, as defined in your agreement, on each business day after the statement grace period until your balance is paid in full. Both the 11% fee on the remaining statement balance and daily payments deduct automatically from sales.

Carrying a past-due balance at the end of the 10 month repayment period results in the locking of your Credit account and a 2% monthly late fee applied to the balance.

Automatic payment details

Your Shopify Credit payments are automatically debited from the bank account connected to your Shopify Payments on the payment due date each month. You don't need to take any action on the payment due date but you need to ensure that sufficient funds are available to avoid issues. Learn about the consequences of non-payment.

Make a manual payment

As the primary cardholder, you can make a manual payment of any amount towards your outstanding balance at any time. For example, you can choose one of the following payment amounts:

• Remaining statement balance: Covers the remaining balance due on your account. Paying the remaining statement balance lets you avoid or resolve fees and daily sales repayments, if applicable.
• Current balance: Pays the full balance. This includes charges posted to your Shopify Credit account within the current statement period.
• Other: Enter a custom amount.

Payments that are made apply towards your oldest statement balance first, and then to your current statement balance. If you've opted to pay in full monthly, then any amount remaining at the end of the grace period is automatically debited from your connected bank account. If you're paying over time from sales for a fee, then any remaining balance is automatically debited from your connected bank account on the statement due date.

If the manual payment is submitted by 2:00 pm EST, then the payment typically requires three business days to clear and display in your Shopify Credit account. If a payment is initiated later than this time, then it might not be processed until the following business day, resulting in a slight delay before it's posted in your Shopify Credit account.

Steps:

1. In your Shopify admin, go to Finance > Credit.
2. In the Payments summary section, click Manual payments.
3. Select the payment amount by taking one of the following actions:

• To pay the amount owed for your most recent statement, select the amount with the Remaining statement balance indicator.
• To pay the full balance, select the amount with the Current balance indicator.
• To pay a different amount than the full balance, select Other, and then enter the amount to pay.

4. Review your connected bank account to ensure that it's accurate.
5. Review the details of your payment in the Summary section, and then click Submit.

Statement fees

Review the following information on how statement fees are charged, how discount fees are applied, and how late fees are calculated.

Remaining balance fee

An 11% fee on the remaining statement balance is charged to your account one calendar month after the statement period ends. No fees are charged if the statement balance is paid in full within one calendar month.

If you make a partial payment during the one month period after the statement end date, then the 11% fee is charged on the remaining balance. The following example shows the calculation of the remaining fee balance on a spend of $1000 in one calendar month.

This table displays an example of how the 11% monthly fee is charged on the remaining balance of the spent Shopify Credit amount

Statement period: One calendar month	Grace period: one calendar month after statement period	End of Grace Period
Balance: $1,000	Partial payment made: $200	11% fee applied: $88 (11% of $800)

The remaining balance fee is charged only on the amount spent in the calendar month statement period and doesn't compound over the following months. The following is an example of how the remaining balance fee is charged across multiple months spending of Shopify Credit.

Example of remaining balance fees calculated across multiple statement periods

Statement period	Statement amount	Amount paid down in the grace period (the month after the statement period) towards this statement	Date charged: Remaining Balance Fee	Amount of Remaining Balance Fee
March 2025	$1,000	$200	April 30 2025	11% of $800 = $88
April 2025	$500	$300	May 31 2025	11% of $200 = $22
May 2025	$1,500	$500	June 30 2025	11% of $1,000 = $110

If you need more time, then you can change your auto-pay direct debit settings to make daily payments from your sales and take up to 10 months to pay your statement balance for an 11% fee. In the event of an automatic payment failing or being reversed after the statement period, you're automatically switched to paying over time from a percentage of your daily sales and charged an 11% fee on the remaining statement balance.

Fee discounts

Discounts are calculated based on how quickly you repay your statement balance and the associated fees.

For example, you have a statement balance of $1,000.00 for the month of February and you decide to pay over time using your daily sales. In this situation, an 11% statement fee is applied. Your balance is now $1,100.00, which represents the total you repay over time.

Starting on April 1, 10% of your daily sales are automatically deducted to pay off your February balance. For example, if you have a statement balance of $1,000 for the month of February, and if 10% of your daily sales is always $7.25, then by paying that amount each day, it takes 145 days to pay off your February balance which amounts to a total of $1,051.25.

If you pay off your balance in less than 10 months, then your annual percentage rate (APR) remains below the maximum limit of 27%. So, on day 146, your final payment is $3.84 instead of the usual $7.25 and you're credited $54.91.

In total, you pay $1,055.09 on your February statement balance, instead of the $1,100.00 that was originally outlined.

You can view your agreement terms and available discounts at any time in your Credit account in the Shopify admin.

Shopify Credit has no annual fees and no foreign transaction fees.

Late fees

If you don't pay your balance in full by the 10-month repayment due date, then you incur a 2% monthly late fee on any past-due balances, in addition to the 11% fee on any remaining balance. To avoid a monthly late fee, if your daily sales are insufficient to repay in full within 10 months, then you can make a manual payment.

Note

The remaining balance fee is calculated at the end of the month following the statement period and is expressed as a flat dollar amount. The effective annual percentage rate (APR) on your statement balance won't exceed the rate as defined in your agreement if you pay the full statement balance within 10 months.

This means that you're charged the fee upfront, but you might qualify for a fee discount by repaying the full statement balance early, ensuring that the maximum effective APR is the rate defined in your agreement. You can visit your Shopify admin to view available discounts.

View your Shopify Credit monthly statements

If you're the primary cardholder, or a staff account with the View all Shopify Credit account activity and the Manage payment settings staff permissions, then you can view monthly account statements. These statements are also emailed monthly to the primary account holder on file. Secondary cardholders can't view monthly statements.

Your monthly statement includes important information about your account, including a summary of all spend, payments, credits, and refunds that occurred on your account within the monthly statement period. It also includes details about your minimum payment due as well as the associated due date:

Steps:

1. In your Shopify admin, go to Finance > Credit.
2. Click View statements.
3. Select a statement to view.

Change your payout account

Payments towards your Shopify Credit business card are taken from the account that's connected to your Shopify Payments account. To change the account that you use with Shopify Credit, change the bank account that you use with Shopify Payments.

Consequences of non-payment

Shopify Credit operates as a pay-in-full charge card, requiring the statement balance to be settled either in full each month, or over a 10-month period. Consistently failing to clear your Shopify Credit balance by the due date each month, or by the end of the 10-month period, could affect your eligibility to use this product. When repaying your balance with automatic, monthly debits, non-payment will lead to your card being locked and may limit your access to additional financial services offered by Shopify.

When you fail to pay your statement balance in full, it triggers a series of actions that impact your account status and payment processes:

1. Delinquency and card locking: If you fail to make a full payment at the end of the month, or at the end of the 10-month period when paying over time, then you enter a state of delinquency and your Shopify Credit charge card is locked. This means that you can't make further purchases on the card until your balance is repaid in full. As a result, no further automatic payments towards the full balance are processed, which might affect your account status.
2. Automatic payments based on daily sales: Payments are automatically deducted from your account based on your daily sales volume and used towards your statement balance. These automatic payments are calculated based on your daily sales volume.
3. Manual payment and recovery process: Despite the delinquency status, you can and are encouraged to make manual payments to resolve your outstanding balance. By making manual payments, including partial payments, you can work towards resolving the outstanding balance and unlocking your account sooner.
4. Account unlocking and payment resumption: After the outstanding balance is fully paid, your Shopify Credit account is unlocked and your payment schedule returns to normal.

Note

Shopify Credit Visa® Commercial Credit cards are powered by Stripe and issued by Celtic Bank pursuant to a license from Visa U.S.A. Inc. View Issuing Bank Terms and Shopify Credit Program Terms.