The payment rate displayed in your dashboard represents the overall payment rate for your pay-over-time balance, which is the sum of each individual payment rate corresponding to a statement period's pay-over-time balance. Your overall payment rate will decrease as you pay off your pay-over-time balances or will increase as more statement balances are rolled over to pay-over-time. Please see your Spend Card Agreement for more information.
Each individual payment rate is calculated as the percent of your estimated future sales needed to pay off an individual pay-over-time balance in nine months. You can view the payment rate details of an individual pay-over-time balance in your monthly statements.
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.