Set up and manage Square Credit Card Smart Repayment
About Smart Repayment
Smart Repayment automatically uses a percentage of your daily sales to pay down your Square Credit Card balance. This optional feature helps you stay on top of payments by matching repayment to your cash flow.
You choose a hold rate between 0% and 15% of daily sales and select a repayment target. Smart Repayment works with your existing autopay to prevent double payments and may help reduce your balance over time.
Smart Repayment is optional and you can change settings or turn it off at any time. Hold rates range from 0% to 15% of daily sales in 1% increments. Two repayment targets are available: minimum payment only or percentage of statement balance. If your account becomes past due, collections repayment takes priority and Smart Repayment pauses.
Before you begin
You can set up and manage Smart Repayment from your Panel de Datos Square.
If you're a new cardholder, Smart Repayment will activate after your first statement is issued.
Set up Smart Repayment
Sign in to Square Dashboard and go to Banking > Credit Card > Settings.
Find the Smart Repayment section.
Toggle Smart Repayment on.
Choose your hold rate percentage (0% to 15% of daily sales).
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Select your repayment target:
Min Pay - Applies hold rate only when minimum payment is due
% of Statement Balance - Continues until target percentage is reached (default is 100%)
Click Save to activate Smart Repayment.
If you don't see Smart Repayment, you need at least one credit card statement generated before this feature becomes available.
Change your Smart Repayment settings
Sign in to Square Dashboard and go to Banking > Credit Card > Settings.
Find the Smart Repayment section.
Adjust your hold rate percentage or repayment target as needed.
Click Save to apply your changes.
Changes take effect on the next processing day.
Turn off Smart Repayment
Sign in to Square Dashboard and go to Banking > Credit Card > Settings.
Find the Smart Repayment section.
Toggle Smart Repayment off.
Click Save to confirm.
Turning off Smart Repayment stops future daily deductions but doesn't affect your existing autopay schedule.
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