If you roll over a statement balance into pay over time, you'll be assessed a statement fee that is 11% - 16% of the amount rolled over into your pay-over-time balance.
Your full statement balance along with the associated fee will roll over into pay-over-time if you do not pay the statement balance by the end of the grace period (i.e., 7 calendar days after the statement period ends) or if you are opted in for the pay-over-time autopay setting.
For example, if you have a statement fee rate of 12% and you have a statement period 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.
If you want to avoid paying statement fees, pay off your statement balance in full before the end of the grace period. Each statement period is 1 month (beginning on the first of every month and ending on the last day of the month), and the grace period comprises the 7 calendar days directly following the last day of the month.
If your outstanding balance is paid off much faster than expected, whether through an automated (i.e., sales-based) or manual payment, you may receive a fee discount in the form of a statement credit.
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.