You can increase your Reap Card’s available balance by either depositing more collateral or repaying your monthly balance. Here’s how each method works and what to expect based on your billing cycle.
Summary
- Repay your monthly balance to restore your available balance
- Deposit more collateral to increase your credit capacity
- Late repayments may result in interest charges
What Happens During the Billing Cycle
Let’s say you deposited $1,000 USDC as collateral and spent $500 USD by January 31st.
If You Repay Before February 20th
Repaying $500 by February 20th will restore your available balance to $1,000. The increase takes effect as soon as the repayment is processed.
If You Don’t Repay by February 21st
If no repayment is made, your available balance drops to $500 starting February 21st. Interest may apply from this date until repayment is made.
💡Late repayments may incur an incremental interest fee in the following billing cycle.
Increase Balance by Depositing More Collateral
You can add more collateral at any time using the Increase Credit via Deposit option. This immediately increases your available balance.
Depositing more does not count as a repayment. You’ll still need to repay any unpaid balance separately to avoid interest charges.
Increase Balance by Making a Repayment
After receiving your monthly statement, you can use the Repayment option to pay off your balance. Once repaid, your available balance increases by the same amount.
You can only repay up to the billed amount—your available balance can’t exceed your collateral.
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Need Help?
If you’re unsure how much to repay or when to deposit, visit Know who to talk to @ Reap for support.