Shopify Credit
Shopify Credit is a pay-in-full business credit card. Most traditional credit cards allow you to make minimum payments, charge monthly interest, and allow you to carry a balance without a defined repayment due date. A pay-in-full card requires your statement balance to be paid in full on or before the statement’s due date.
Beginning September 1, 2024, Shopify Credit has a 10 calendar month repayment period, which means your monthly statement balance must be paid in full within 10 calendar months from the time the statement is closed, for a fee. Prior to September 1, 2024, Shopify Credit had a 25-day repayment cycle. This means your statement balance was due in full on or before 25 days after the statement was generated.
You can earn cashback on eligible business purchases, which is automatically applied to your Shopify Credit account as statement credits when the monthly statement is generated. If you're approved, then you receive a virtual card that you can use immediately, and you have the option of ordering a free physical card. You can add secondary cardholders to your account, granting them authorized access to your credit line.