Overview
When you use your Loop Global Visa Credit Card, you get an interest-free period between the date of purchase and your payment due date. This means you won’t be charged any interest as long as you pay your full balance by the due date shown on your statement.
Loop’s interest-free period is designed to be longer than most traditional business credit cards — typically around 15 days more. This gives your business added flexibility to align repayments with incoming cash and avoid unnecessary costs.
How it works
Your statement cycle runs for a set period — for example, January 1 to January 31.
After the statement closes, your payment due date is February 25.
During this period (January 1–February 25), you can repay your full balance without paying interest.
If you pay the entire balance by the due date, you stay completely interest-free.
If you carry a balance past the due date, interest starts accruing on those remaining amounts from the purchase date.
Notes
The interest-free period applies only when you pay your statement balance in full.
Making only a partial payment means interest will apply to all unpaid purchases.
To stay interest-free, consider setting up an automated payment reminder a few days before your due date.
FAQs
Do I get an interest-free period on every purchase?
Yes — every purchase made during your statement period is interest-free until your payment due date, provided you pay your full balance on time.
What happens if I miss the due date?
Interest will start accruing from the date of each purchase until the outstanding balance is paid in full.
Is the interest-free period the same every month?
Yes — your statement and due dates follow the same monthly pattern unless otherwise notified.
Can I extend my due date?
No, payment due dates are fixed based on your statement cycle. However, the extra time Loop provides is already longer than most bank-issued business credit cards.