None, you're never charged interest. You may, however, be charged a statement fee if you roll over a statement balance into your pay-over-time balance.
If you do not pay the full statement balance by the end of the grace period (i.e., 7 calendar days after the statement period ends), 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 example, if you have a statement fee rate of 12% and you have a statement balance of $1,000, you'll be charged a statement fee of $120 for rolling over that amount into your pay-over-time balance. You'll pay off the $1,000 statement balance plus the associated $120 fee over the course of the next nine months using a percentage of your [PARTNER] sales.
Please note: If you pay off the full statement balance for a given statement period before the end of the grace period, you will not have to pay a statement fee.
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.