Missed & failed payments

What happens when a payment is missed or is not processed

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Written by Fizz
Updated over a week ago

Missed payments

  • If you miss an automatic payment because you do not have enough funds in your bank account, we will retry as soon as we believe enough funds are in your account.

  • If you have Autopay disabled, you'll only be obligated to make a payment once per month, by your statement due date. If you make daily payments, you won't need to worry about this.

  • If you have an unpaid balance for more than 30 days after your statement due date, a missed payment will be reported to the credit bureaus. Remember, you signed up for Fizz to help build your credit - so make up for any missed payment ASAP and turn on daily Autopay to make things even easier.

How often should I make payments?

Fizz is a daily payment debit card. While we strongly encourage regular, daily payments and daily Autopay, you can make payments less frequently if you'd like to. But it's important to understand the risks.

Fizz, operates on a monthly payment cycle. If you're making payments every day, you won't need to worry about this. But if you're making payments less frequently, you'll need to make sure that you make a payment at least once per month - in the two weeks between your statement closing and your payment due date. We will share a credit statement and reminders with you.

How long do I have to make a payment

If you don't make daily payments, you'll have two weeks after your statement closes every month to pay your Fizz balance. If you don't make a payment within these two weeks, your card will be locked whether you've enabled SafeFreeze or not. You'll then have one month to make a payment before a missed payment is reported to the credit bureaus.

After a missed payment is reported to the credit bureaus, you'll still need to pay your balance. If you don't pay off your balance, every 30 days after that another missed payment will be reported to the credit bureaus.

Failed payments

There are several reasons why a payment might fail:

  1. Your account has insufficient funds - You don’t have enough funds in your connected bank account to cover the daily payment

  2. Your bank information changed - If your bank account requires your attention, we'll let you know in the app. Simply re-enter your bank credentials

  3. Your bank account is closed or your bank has locked it - Please resolve the issue with your bank or link a new bank account.


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