Set up and manage Square Credit Card payments
About Square Credit Card Payments
There are multiple ways to pay down your Square Credit Card balance, including manual payments, autopay, smart repayment, and physical checks. Paying your full statement balance by your due date earns your account a grace period without interest for the following billing cycle.
Before you begin
You can manage payments from Square Dashboard (Banking > Credit Card).
You need a linked bank account (Square Checking or external) for manual and autopay payments.
Paying your full statement balance by the due date avoids interest on the next billing cycle.
How to Pay on your Square Credit Card
There are multiple ways to pay down your Square Credit Card.
Make manual payments at any time from your linked bank account.
Configure your account for a scheduled autopayment to set it and forget it for either your minimum balance or full statement balance from your linked bank account.
Set up Smart Repayment to automatically withhold a percentage of your daily card sales to payoff your minimum balance or statement balance before your payment becomes due.
Sending a physical check for repayment
Repaying your full statement balance by your due date allows you to begin your following billing cycle without a carried balance, which earns your account a grace period for the upcoming billing cycle without any interest.
If you don’t pay your bill in full every month, the unpaid amount becomes a carried balance. You’ll pay interest on this carried balance and any new purchases (from the date of purchase) until you pay off your “carried balance”.
Linking Your Bank Account
When selecting your repayment options for your Square Credit Card, you will have the option to select from your Square Checking account or your externally linked bank account for your overall Square account.
The selected bank account will be the default account payments are processed from whenever you make a manual payment or have autopay enabled.
To add or edit a new bank account to your Square account, please review this help article Link and Edit Your Bank Account.
Making a Manual Payment
Make a payment
Sign in to Square Dashboard and go to Banking > Credit Card.
Select Make a Payment and choose how much you want to pay.
Select the bank account you would like to have your payments processed from.
Press continue to review your payment.
Review your payment information and click Pay.
Enable or Disable autopay
Setting up autopay will automatically pay your credit card balance every month on your payment due date. You can choose whether you want to pay your full statement balance, or just the minimum payment. To enable or disable autopay:
Sign in to Square Dashboard and go to Banking > Credit Card.
Select Autopay settings.
Toggle Autopay on or off.
Select the payment amount: minimum or full statement balance.
Select the bank account for payment processing.
Click Save.
Sending a Physical Check
If mailing a check, please make the check payable to “Square Capital” and send the check to:
Square Capital Program
Attn: Capital Servicing 29053 Network Place Chicago, IL 60673-1290
Be sure to include the email address associated with your Square account as well as “Square Credit Card Repayment” in the memo line of your check.
It may take up to 7 business days before we receive and process the payment. To ensure timely payments, we suggest sending in any check payments ahead of any upcoming due dates.
Payment Post Timelines
Payments post instantly when submitted, and your balance will adjust as soon as a payment is submitted.
If your account has a history of failed payments, a history of past due balances, or submitted payments that exceed your total credit limit, it can take up to 5 business days for your credit limit to refresh upon submission of your payment.
About Smart Repayment
Smart Repayment automatically uses a percentage of your daily sales to pay down your Square Credit Card balance. This optional feature helps you stay on top of payments by matching repayment to your cash flow.
You choose a repayment rate between 0% and 15% of daily sales in 1% increments and select a repayment target. The two repayment targets available are your minimum payment, or percentage of statement balance.
Smart Repayment works with your existing autopay to reduce your balance over time, thus reducing your due obligation prior to your payment due date.
If your account becomes past due, collections repayment takes priority over your Smart Repayment election.
Setting up or adjusting Smart Repayment
Sign in to Square Dashboard and go to Banking > Credit Card > Settings.
Find the Smart Repayment section.
Toggle Smart Repayment on or off.
Choose your hold rate percentage (0% to 15% of daily sales) if enabling or editing your Smart Repayment election.
Select your repayment target:
Min Pay - Applies hold rate only when minimum payment is due
% of Statement Balance - Continues until target percentage is reached (default is 100%)
Click Save to edit your Smart Repayment election.
If you disable your Smart Repayment, it will pause future daily deductions if your account is current on repayment. This will not affect your existing autopay schedule if you have autopay enabled.
Canceling a Pending Payment
If a payment was submitted in error, you can cancel your same day payment. Please note that we are only able to cancel payments on the same day. Once a payment has been initiated and is reflective on your bank statement, it is no longer eligible to be canceled.
To cancel a payment:
Sign in to Square Dashboard and go to Banking > Credit Card > Settings.
Click on the Activity screen and select Payments.
Click on the desired payment from your Square Dashboard.
Ensure the payment is eligible for cancellation and is in a Pending state.
Payments that are Processed or Completed are not eligible for cancellation.
Click Cancel Payment
Note: If your account has a history of failed repayments, delinquency, or repeated cancellations, your Square account will not be eligible to cancel payments from the Square Dashboard. If you need assistance to cancel your payment, please contact us and we can assist.
Missing your Payment Due Date
If you miss your minimum payment, Square will automatically hold a portion of your daily Square sales until the missed payment is repaid. The amount of your repayment rate is listed on your cardholder agreement.
There are no late fees, and no compounding interest for the Square Credit Card. Please review your Square Dashboard and agreement to review the terms of your Square Credit Card repayment if your account becomes past due.
If you have any issues regarding your credit card repayment, an upcoming minimum payment, or need assistance with alternative payment options, contact us before your payment due date.
Use Military Benefits
Under the Servicemembers Civil Relief Act (SCRA), you and your qualifying family members and dependents may be eligible for military benefits if you’re a service member or military personnel called to active duty or active service. To learn more about SCRA benefits or to submit a benefit request, contact us.
Third Party Balance Transfers
We are unable to support credit card balance transfers at this time. If you have submitted a request for a balance transfer with your third party bank, please reach out to them directly to have the balance transfer reversed.
Square, the Square logo, Square Financial Services, Square Capital, and others are trademarks of Block, Inc. and/or its subsidiaries. Square Financial Services, Inc. is a wholly owned subsidiary of Block, Inc.
Square Capital, LLC is a wholly owned subsidiary of Block, Inc., d/b/a Square Capital of California, LLC in FL, GA, MT, and NY. Block, Inc. and Square Capital, LLC are not banks. Square Credit Cards are issued by Celtic Bank pursuant to a license from American Express, and may be used wherever American Express is accepted. If approved, APR may vary based on creditworthiness and other factors. Subject to credit approval.