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Perpay Credit Card
Direct Deposit and Payments
Direct Deposit and Payments
Updated over a week ago

What does it mean that a direct deposit is required to access the credit card?

A minimum direct deposit from each paycheck to your Perpay account is required to keep your credit card active.

This direct deposit is required on a recurring basis and is aligned with your pay cycle.

Why does the Perpay Credit Card require a recurring direct deposit of your paycheck?

Direct deposits are sent to your Perpay account automatically each pay day by your employer. With automatic transfers enabled, your simple and stress-free direct deposit can help you pay down your card balance consistently and keep your credit utilization low so you can build your credit score!

My direct deposit arrived at Perpay, but I did not have a balance owed on my account. What can I do with my money when this happens?

If your direct deposit is more than any balance owed, your funds will sit in your account balance that you have control over. When funds are in this account, you can do any of the following with those funds:

  • You can withdraw the funds out to a linked bank account at any time

  • You use the funds to shop on the Perpay marketplace

  • You can use the funds to pay down your credit card balance when you next make a purchase on your card

How is my total minimum direct deposit calculated for the card and marketplace?

If you have a balance due on the Perpay marketplace, you have an existing minimum direct deposit amount, based on your pay cycle, that keeps your marketplace order payments on track.

Your total minimum direct deposit amount is the sum of your card and Marketplace minimum direct deposit amounts.

This total minimum direct deposit amount is the minimum amount you need to send to your Perpay account through your payroll to keep your card active and to stay current on your marketplace balance.

You only ever need to have one direct deposit in your payroll to Perpay. As long as your direct deposit is set up for your overall minimum payment or higher, you're all set!

I have an outstanding balance on my marketplace account, and now have the credit card. How will my payments be applied to my balances?

Since you have two balances, your direct deposit will be distributed between the two balances.

With automatic transfers enabled, a direct deposit from your employer to your Perpay account on your payday will be applied to your card and marketplace balances. The amount applied to each balance will be based on required amounts due for the card and marketplace:

  1. First, the minimum direct deposit amount required for the credit card is paid

  2. Then, the minimum required amount for your marketplace balance is paid

  3. If additional funds are available after completing the above, any remaining credit card balance is paid off

  4. If funds are available after the card balance is paid off your remaining marketplace balance is paid off

  5. If additional funds remain and your card and marketplace balances are $0.00, the extra funds will be available in your Perpay account which you can choose to withdraw to a bank account on file at any time.

How much should I pay each month?

We recommend paying your balance to $0 whenever possible. If you can’t do so, pay off your entire statement balance so that you do not incur interest charges. If you are unable to pay the statement balance in full, pay off as much as you can to reduce interest incurred.

With the Perpay Credit Card, you can automatically pay down your balance with each payroll direct deposit, so you don't have to worry about making additional payments. If you need to make an additional payment, you can do so at any time through your linked bank account or via check.

How can I make additional payments to my Perpay Credit Card?

Your minimum direct deposit from your paycheck is required to keep your card active.

However, you can also make additional payments to your card from your Perpay dashboard using a linked bank account or via a check at any time.

To make a payment, follow the link here!

Bank payments will be applied to your outstanding balance once they have been initiated, however they can take a few business days to process and show as available credit on your account.

Please know that additional bank or check payments do not satisfy the requirement of receiving a direct deposit payment meeting your minimum payment amount.

The Perpay Credit Card is Powered by Deserve Inc. and issued by Celtic Bank.

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