Your autopay setting is your default monthly repayment method. There are two options: Pay in full and pay over time. All new cardholders are automatically opted in to pay in full.
If you’d like to change your autopay setting, go to your dashboard and scroll down to the section with a Make a repayment button. Above the button, you’ll see a line item labeled Autopay that indicates what your current setting is. Monthly indicates that you’re paying in full at the end of each month, and Over time means that you’ve opted to automatically roll over each month’s statement balance into the pay over time program. Click on the setting name, and you’ll be redirected to a page where you can change your autopay setting.
Below is a more detailed description of both autopay settings:
Pay in full: We'll automatically attempt to debit the full statement balance from your linked bank account at the end of each month's grace period. If you pay off your statement balance in full before the end of the grace period, you will not be charged a statement fee.
If the full statement balance is unable to be collected 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 of 11% – 16% of the statement balance. You'll pay off the statement balance plus the associated fee over the course of the next 40 weeks in weekly repayments. As you increase your pay-over-time balance, your overall repayment rate will also increase.
Pay over time: At the end of each statement period, your statement balance will automatically be rolled over into pay-over-time along with a statement fee that is 11% – 16% of the statement balance. You'll pay off the statement balance plus the associated fee over the course of the next 40 weeks in weekly repayments. As you increase your pay-over-time balance, your overall repayment rate will also increase.
Additional helpful information
Note that each statement period corresponds to one month. Every statement period is followed by a 7 calendar day grace period.
The overall repayment rate for your pay-over-time balance is the repayment amount per week for all individual statement balances that have been rolled over to pay-over-time. Your overall repayment rate will increase as more statement balances are rolled over to pay-over-time and will decrease as any individual pay-over-time balance is repaid in full.
You can view the repayment rate details of an individual pay-over-time balance in your monthly statements.