Each month is equal to one statement period. That means each statement period begins on the first of every month and ends on the last day of the same month.
At the end of each month, there is an additional 7 calendar day grace period beginning on the first day of the following month. For example, January’s grace period runs from February 1-7. If you pay off the statement balance by the end of the grace period, you will not be assessed a statement fee.
If you do not pay off the full statement balance by the end of the grace period, the statement balance will be rolled over into your pay-over-time balance along with a statement fee that is 11% - 16% of the statement balance. For more information, please see your Spend Card Agreement.
Parafin is a financial technology company, not a bank. Spend Cards are issued by Column N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc., and are powered by Marqeta. Approval is not guaranteed and is subject to checks. Terms and conditions apply.