Reap Card - Pricing and Fees
Do I need to pay an annual fee for Reap Card?
No, Reap’s secured corporate credit card does not include any annual or hidden service fees. For complete pricing information, please refer to our fee schedule below for details.
Do I need to pay my outstanding balance each month?
Yes, the Reap Card is a secured credit card, which means you will be issued an invoice for your outstanding balance every month.
How can I repay my outstanding balance?
You can repay either by making a fiat payment or by deducting stablecoins from your collateral (which will reduce your credit limit). This operation is not automated by default. Details of the fees for each method and the payment schedule are provided in the table below.
Reap Visa Card Fee Schedule
Fee Type | Cost |
Annual Fee | Free |
Card Transaction (domestic) | Free |
Card Transaction (international) | 2% and only if the foreign transaction was made in a currency other than your Domestic Currency (1) |
ATM Withdrawal | 2% of the transaction amount |
Transaction Refund | Free |
Chargeback Dispute Handling Fee | Free |
Card Cancellation | Free |
Card Replacement | Free |
Minimum Payment | The Minimum Payment is the minimum amount you need to pay for an Account Statement in your Domestic Currency. For HKD Cards: - If the Account Statement balance is HK$2,000 or more: 1% of your total outstanding balance, or HK$2,000 (whichever is higher) - If the Account Statement balance is less than HK$2,000: the statement balance For USD Cards - If the Account Statement balance is US$250 or more: 1% of your total outstanding balance, or US$250 (whichever is higher) - If the Account Statement balance is less than US$250: the statement balance |
Late Payment Fee | HK$230 or Minimum Payment (whichever is higher) for HKD Cards US$30 or Minimum Payment (whichever is higher) for USD Cards |
Return Check / Reject Autopay Fee | Free |
Repayment Fee | Repayment with fiat - Free Repayment with collateral in stablecoins - 1.2% |
Interest Rates and Finance Charges | Description |
Annualised Percentage Rate (APR) (2) for overdue balance on Card purchases | 25.00% APR. We will not charge you a finance charge if you pay your Account Statement in full by the due date each month, otherwise, a finance charge will be charged on the unpaid statement balance from the date of the previous statement on a daily basis until payment in full. |
Interest-Free Period | Up to 51 days, meaning 20 days after each statement issue date. Unlike most credit card issuers, at Reap, this interest-free period on the previous Account Statement’s spending continues to be available to you even if you have an overdue balance. |
Minimum Payment Due | If we do not receive the Minimum Payment for an account statement, the Late Payment Fee will apply to that account statement. Notwithstanding the above and subject to the Interest-Free Period, interest is charged on any outstanding statement balance. |
(1) Domestic Currency is the settlement currency of your Card, which is Hong Kong Dollars or US dollars, depending on your choice of Card.
(2) APR is calculated according to the Net Present Value Method as specified in the Code of Banking Practice. The Finance Charge will be calculated at the applicable rate on a 365-day yearly basis.