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An overview of the Relay Visa® Credit Card

Mary-Rose J.
  • Updated

The Relay Visa® Credit Card is currently only available to eligible Relay customers by invite-only.

 

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What is the Relay Visa® Credit Card?

The Relay Visa® Credit Card doesn’t just give your cash flow a cushion, it puts you in complete control of team spending.

Relay offers a 30-day billing cycle. The balance accumulated during the 30-day billing cycle must be paid, in full, at the end of the billing cycle and cannot be carried over from one billing cycle to the next.

Your balance will automatically be paid from a primary payment account (chosen during your application) at the end of each billing cycle.

You can also select a backup payment account, to cover your balance if your primary payment account has insufficient funds. You can change your primary or backup account at any time. For more information, please see Changing your primary or backup payment account.

With the Relay Visa® Credit Card, you can earn between 1%-1.5% cash back1. You’ll earn 1% cash back when you spend between $10k-$40k during a billing cycle. You’ll earn 1.5% cash back when you spend over $40k during a billing cycle. For more information, please see Earning cash back on your Relay Visa® Credit Card. 

How can the Relay Visa® Credit Card benefit your business

There are four main benefits that the Relay Visa® Credit Card can add to your business:

  • Cashflow management
  • Team spending
  • Spending rewards
  • Fraud protection

Cash flow management

Credit allows your business to buy now and pay later, and provides a buffer when cash is tight. When a business-critical or emergency purchase comes up, you can spend confidently on your Relay Visa® Credit Card knowing you won’t short your checking accounts.  

Team spending

Create cards for your employees without extra fees, paperwork, or bank visits. Instantly give your team the freedom to spend and keep tabs on every dollar, every day. Plus you can set custom transaction limits and spend controls for each card, empowering your team to spend securely. 

Spending rewards 

The Relay Visa® Credit Card offers between 1%-1.5% cash back, putting a little cash back into your business. You’ll earn 1% cash back when you spend between $10k-40k during a billing cycle. When you spend more than $40k during a billing cycle, you’ll earn 1.5% cash back. 

Fraud protection 

Bad actors who get a hold of your credit card won’t be able to drain cash from your checking account the same way they could with a debit card. A longer payback period also gives you more time to dispute fraudulent transactions before a payment is due.

Applying for the card

The Relay Visa® Credit Card is currently available by invitation only. More detailed information on the application process can be found here Applying for a Relay Visa® Credit Card.

To be eligible for the Relay Visa® Credit Card your business must meet the following criteria: 

  • U.S.-incorporated and -operated.
  • LLC, General Partnership or Corporation (not a Sole Proprietorship).
  • Established at least 1 year before the time of credit card application.
  • Earn at least $240,000 in annual revenue ($20,000/month on average).

If your business meets the above criteria and you choose to apply for the Relay Visa® Credit Card you’ll be asked to: 

  • Confirm your business details and update them if necessary.
  • Connect an external bank account. 
  • Set up auto-payment and choose your primary and backup payment accounts.
  • Confirm the details and shipping address of your first physical card.

Once you have completed your application we will review and notify you via email and with an in-app message. 

When your application is approved, we will confirm your monthly credit limit. You can start creating new virtual cards to use right away!

Relay will not check personal or business credit scores during the application process. For more information, please see Credit checks and reporting.

Managing your credit account

Your credit account is the command centre for your Relay Visa® Credit Card. For more information about your credit account, please see Managing your credit account for additional resources.

From the credit account, you can: 

  • View your credit card balance, and all settled and pending transactions.
  • See how much cash back you’ve earned.
  • Confirm how many cards are linked to your credit account.
  • Download statements for your credit account.
  • Pay your credit card balance, and manage your auto-payment settings.
  • Add or remove team members from your credit account.

Viewing your credit card balance, and settled and pending transactions

At the top of your credit account, you will see a progress bar showing how much of your monthly credit you have used, and any amount that is pending. Directly underneath, you’ll find a list of all the transactions on your credit card. Pending transactions can be viewed in a collapsible list and will be moved to the posted transaction list once they have settled.

See how much cash back you’ve earned

You can earn between 1%-1.5% cash back1 when you use your Relay Visa® Credit Card. For more information about how to earn cash back, please see Earning cash back on your Relay Visa® Credit Card. In your credit account, we’ll surface what percentage of cash back you’re earning, and how much you’ve earned during the current billing cycle.

Confirm how many cards are linked to your credit account

Relay allows you to create up to 50 virtual and 20 physical (plastic) credit cards. In your credit account, you’ll see how many cards are linked to your credit account. On your desktop, click View credit cards on the right-hand side of your credit account and you’ll be directed to the Cards page where you can create new cards or edit existing ones. This is also where you can edit spending limits and vendor/category controls for each card. 

Download statements for your credit account

Download statements in bulk or for a single billing cycle. Statements can be downloaded as a PDF, CSV, or OFX file, and you can also email them to yourself or an advisor. For more information on how to download statements, please see Downloading statements for your credit account.

Pay your credit card balance, and manage your auto-payment settings

Relay offers a 30-day billing cycle for your credit card. Payments must be made in full for each cycle for you to continue using your credit card. If you need to free up credit before your billing cycle is up, you can make a manual payment early, directly from your credit account. For more information on how to pay your credit card, please see Paying your Relay Visa® Credit Card balance.

From your credit account, you can also manage your auto-payment settings. When you apply for a Relay credit card, you’ll be asked to select a primary and backup payment account. For more information on primary and backup accounts, please see Changing your primary or backup payment account.

If a payment is not made in full, you will have a 5-day grace period to pay the remaining balance. If the remaining balance is not paid during the 5-day grace period, your credit account will be locked, and a late fee of 3% will be charged to the account. For more information on late fees and penalties, please see Late payment fees and penalties.

Using your credit card

You can create up to 50 virtual credit card cards and 20 physical (plastic) credit cards. You can learn more about using your credit card here: Using your Relay Visa Credit Card.

When you create a credit card, you can assign the card to your whole team or individual team members and set unique spending limits for each card. 

You can also set vendor and category controls to restrict where your team can and cannot spend. For example, if you have team members using company vehicles, you can issue them a gas card and set a category control so their card can only be used at gas stations. For more information on this, please see Editing vendor and category controls on your Relay Visa® Credit Card.

Will the Relay Visa® Credit Card impact my credit score?

No, applying for the Relay Visa® Card will not impact your personal or business credit score. Your credit score will also not be impacted if your application is denied.

 

1 You must spend a minimum of $10,000 within a 30-day billing cycle to earn 1% cash back, or $40,000 within a 30-day billing cycle to earn 1.5% cash back. Once you meet the minimum spend requirement, your cash back reward will be applied to all spend put on your credit card within the 30-day billing cycle. Please refer to the Visa® Signature Rewards Program Terms & Conditions for more details.

 

For full details, please see our Relay Visa® Credit Card Cardholder Agreement

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