Payments
Making timely payments is the most important factor in building your Crowd.Credit history and advancing through graduation tiers.
Billing Cycle
- Cycle length: 30 days
- Statement date: End of each billing cycle
- Grace period: 21 days from statement date
- Minimum payment due: Greater of $25 or 2% of outstanding balance
- Full payment deadline: Statement date + 21 days
Payment Methods
Crypto Payments
Pay directly from your connected wallet in any supported token:
| Token | Processing Time | Fee |
|---|---|---|
| USDC | Instant | None |
| USDT | Instant | None |
| DAI | Instant | None |
| ETH | Instant | None (gas only) |
| wstETH | Instant | None (gas only) |
Crypto payments are processed on-chain through the CreditEscrow contract. The payment is confirmed once the transaction reaches finality on the respective chain.
Fiat Payments
Pay via traditional banking methods:
| Method | Processing Time | Fee |
|---|---|---|
| ACH transfer | 1-3 business days | None |
| Wire transfer | Same day | $15 |
| Debit card | Instant | 1.5% |
From Deposits
You can optionally pay from your deposited collateral. This reduces your collateral value and may affect your health factor and credit line:
- Go to Payments > Pay from Deposits
- Select the token and amount
- Review the impact on your health factor
- Confirm the payment
Autopay
Autopay automatically makes payments on your due date, ensuring you never miss a payment.
Autopay Options
| Option | Description |
|---|---|
| Minimum payment | Pays the minimum due (greater of $25 or 2% of balance) |
| Statement balance | Pays the full statement balance (avoids all interest) |
| Fixed amount | Pays a fixed amount you specify |
| Full balance | Pays the entire outstanding balance |
Setting Up Autopay
- Go to Settings > Autopay
- Select your preferred payment method (wallet token or fiat)
- Choose your autopay option
- Confirm -- autopay activates on your next due date
Autopay Priority
If your preferred payment method has insufficient funds, autopay attempts alternatives in this order:
- Selected token/method
- Other stablecoins in wallet (USDC > USDT > DAI)
- ETH (converted at market rate)
- From deposits (last resort, with confirmation notification)
If all methods fail, you receive an urgent notification and have 3 days to make a manual payment before a late fee applies.
Late Payments
| Days Late | Consequence |
|---|---|
| 1-3 | Grace notification, no penalty |
| 4-15 | Late fee: $25 or 3% of minimum payment (whichever is greater) |
| 16-30 | Credit line frozen, CrowdProof score impact |
| 31-60 | Tier demotion evaluation, increased APR |
| 61-90 | Account review, potential collateral liquidation |
| 90+ | Default reported to CrowdProof DefaultRegistry |
Payment History
All payments are recorded:
- On-chain: Payment transactions in
CreditEscrowcontract - Off-chain: Detailed payment history in your Crowd.Credit dashboard
- CrowdProof: Payment behavior updates your reputation score
Viewing Payment History
From Dashboard > Payments, you can view:
- All payment transactions with dates and amounts
- Upcoming due dates and minimum payments
- Payment streaks (consecutive on-time payments)
- Historical billing statements (downloadable PDF)
Early Payments
You can make payments at any time before the due date. Benefits of early payment:
- Reduces daily interest accrual
- Frees up available credit immediately
- Demonstrates positive payment behavior to the scoring engine
- No prepayment penalties ever