FAQs
Fast answers to common Loop Credit Card questions.
8 articles
- Past Due Accounts: FAQHow to pay your Loop Credit balance, find your due date and interest rate, understand fees, and resolve a past due account to restore credit access.
- How do I pay my Loop Card statement?Pay your Loop Card statement from your Loop account or an external bank account, in CAD, USD, GBP, or EUR — by currency, all at once, or a custom amount.
- What is Instant Deposit?Instant Deposit lets you access part of your credit limit right away after making a repayment from an external bank account—no more waiting several business days for funds to clear.
- How does the interest-free period work?Loop's interest-free period gives you about 15 extra days to pay your Loop Global Visa Credit Card balance interest-free, helping you manage cash flow.
- What do you mean by "spend in the original currency"?With the Loop Card, foreign purchases stay in the original currency (USD, CAD, GBP, EUR) instead of converting to your home currency — no surprise FX fees.
- How do I pay my balance back in foreign currencies?Repay your Loop Card balances in the same currencies as your transactions, paying each currency balance directly from the matching currency account.
- What is my billing cycle?Your Loop billing period sets when your credit card statement closes and your balance is calculated. View it anytime under Cards → Balances.
- Are there annual fees for the Loop Global Visa Credit Card?No. Loop Cards have no annual or recurring fees. You can also cancel your card anytime with no penalties — as long as your balance is fully paid.