Getting started with Shopify Credit

Shopify Credit is a business Visa charge card that requires full payment of the balance. Your Shopify Credit business charge card is accepted by any merchant or business that allows Visa transactions, except for prohibited categories. Shopify Credit doesn't permit transactions equivalent to cash, such as cash advances, money orders, wire transfers, or gambling transactions.

Upon approval and account setup, you receive immediate access to a virtual Shopify Credit business charge card. The virtual card is automatically generated and ready to use after completing setup. You can also request a physical card, which is delivered within 5-8 business days. Before using your physical card, you must activate it in your Shopify admin. Physical cards don't support PIN numbers and can't be used at ATMs.

You can manage both your virtual and physical cards in your Shopify admin, and perform any of the following tasks:

View card numbers
Lock cards if necessary
Add secondary cardholders
Activate physical cards

Eligibility for Shopify Credit

Eligibility for Shopify Credit is based on several factors that help determine the health of your business. Some of the key factors, including your business' performance rather than your personal credit score, are described in this guide. Shopify doesn't run personal or business credit checks at any time and your application won't impact your credit score.

To determine if you're eligible for Shopify Credit, check your Shopify admin. If you're eligible, then you can apply for Shopify Credit.

If you don't receive an offer, then your store is currently ineligible, but you can add your shop to the waitlist. Upon your store becoming eligible, you'll receive notifications in the Home section of your Shopify admin and by email. Shopify automatically evaluates eligibility on a regular basis, and your eligibility for an offer as well as the size of the offer is subject to change.

Your eligibility for Shopify Credit is determined by the following key factors:

Sales: Your eligibility for Shopify Credit and the size of your offer is generally determined by the sales you generate on the Shopify platform. This includes but isn't limited to sales volume, the number of days you have sales, the number of orders, and the number of orders shipped.
Returns, chargebacks, and disputes: The number of chargebacks and disputes during a defined period are used to review your eligibility. A payment dispute occurs when your customers dispute a payment and contact the bank issuing their card or credentials to reverse the charge.
Customer engagement: Customer engagement is also a factor in determining the health of your business. Eligibility and the offers you receive are based on the number of customers, and their engagement with your store.
Your engagement with the Shopify platform: Your use and engagement with the Shopify platform is also used to determine whether you have a healthy and growing business.
Your payment history with Shopify: Your payment history including on-time payments for Shopify's services, and other financial services provided through Shopify such as Capital is used to determine your eligibility.
Failed debits: Failed debits for Shopify Services, past repayments or remittances for funding received, and for other financial services including Shopify Capital are used to determine eligibility. For example, if your authorized debit to repay your Shopify Capital funding fails, then this might affect your eligibility.
Your tenure on the Shopify platform: The length of time you've had a Shopify store is used to determine eligibility.
Compliance with Shopify's Terms of Service: Shopify Credit isn't available to stores that potentially violate Shopify's Terms of Service or other Shopify Agreements, including but not limited to Shopify Payments and Shopify Capital.
Other shops: Shopify also considers the factors above for other shops that are associated with your account when reviewing eligibility.

Unlike traditional business credit cards that might use your credit score to determine your credit limit, your Shopify Credit limit is based on your business performance and other factors. Existing offers are available in your Shopify admin.

Your credit limit is reviewed monthly and it might increase or decrease based on factors including your sales, card use, and repayment history. Any credit limit changes are updated at the beginning of your statement period each month.

Requirements for Shopify Credit

To be eligible for a Shopify Credit account, you need to meet the following requirements:

You must have a physical residential address in the United States or Puerto Rico. Other U.S. territories aren’t supported.
You must provide a business address where your business physically operates and is located. Registering agents, virtual addresses, co-working spaces, and mail box services aren't eligible business addresses.
- You should enter the address where your business physically operates, even if it is different from what is shown on your documents.
You must have a valid U.S. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
Shopify Payments must be set up or activated when setting up for Shopify Credit. If you deactivate Shopify Payments, then you must also close your Shopify Credit account.
You must have two-step authentication activated on your Shopify account.
Your store must be actively subscribed to a Shopify plan.
Your business type must not be prohibited from using Shopify Payments. Review the Shopify Payments Terms of Service for the United States to ensure your business type isn't prohibited.
You must meet the same information requirements as Shopify Payments. This might include verifying additional details or your identity. Learn more about identity requirements and address verification when using Shopify Payments.

Account requirements for businesses with multiple owners

If your business has multiple owners, then you must additionally meet the following requirements:

The authorized representative that's opening the account must provide their SSN or ITIN.
The authorized representative that's opening the account must have a physical residential address in the United States or Puerto Rico. Other U.S. territories aren’t supported.
Any beneficial owners with 25% or more ownership must provide proof of identity. This can be either an SSN, ITIN, or a government-issued photo ID such as a passport.

Identity requirements and verification

You might be required to verify your identity for Shopify Credit. Identity verification must be completed by the legal entity account representative, who might not be the same person as the store owner.

Before starting identity verification, review the following resources:

Identity verification requirements for the items needed
Document upload recommendations
Guidance for providing your identity document
Completing the selfie check

After you have the items needed, complete the identity verification request. If you have any issues during the identity verification process, then review the troubleshooting guidance.

If the legal entity account representative isn't the store owner, then the store owner still needs to start the identity verification process to generate a shareable verification link. To get the share link, the store owner needs to complete the following steps:

Click Verify Identity.
Click Agree to accept the terms.
On the QR code page, click other options to find the sharing link.

The share link can be sent to the legal entity account representative to complete verification on any device with a camera. The account representative doesn't need a Shopify account to complete the verification.

Applying for Shopify Credit

Shopify Credit is available to eligible Shopify merchants. You can check whether you're eligible for Shopify Credit by going to Finance > Credit in your Shopify admin. If you receive an offer to apply for Shopify Credit, and you submit an application, then you might receive a decision in a few minutes. The application process might take longer depending on factors such as the amount of your offer, any requested documents, or questions about your application. Offers to apply aren't a guarantee that your application will be approved.

If your store is eligible to apply for Shopify Credit, then a message displays on the Home page of your Shopify admin. If you don't receive a message from Shopify, then your store is currently ineligible to apply for Shopify Credit. However, you can join the waitlist from the Shopify Credit offer page.

If you've already accepted and are using Shopify Credit, then you might receive Shopify Capital offers. You can accept these offers if you want to use the product. Learn more about how having Shopify Credit and Shopify Capital impact each other.

Shopify Credit's impact on Shopify Capital

Accepting an offer from Shopify Credit doesn't disqualify you from receiving an offer from Shopify Capital, but accepting an offer might influence the terms or availability of others. We continuously review your business to ensure our products remain suitable and beneficial.

Offers are generated and recalculated on a daily basis. If you apply for Shopify Credit, then existing Shopify Capital offers are regenerated depending on eligibility. Eligibility for Shopify Credit and Shopify Capital is never guaranteed.

Consequences of delinquency on Shopify Credit

If your Shopify Credit account becomes delinquent, you fail to pay your statement balance when due, or are otherwise in violation of the Shopify Credit Issuing Bank Terms or the Shopify Credit Program Terms, then you won't be eligible for Shopify Capital offers. Furthermore, any active Shopify Capital funding becomes immediately due and payable when you're in violation of the Shopify Credit Issuing Bank Terms or the Shopify Credit Program Terms.

Apply for Shopify Credit

When you receive an offer for Shopify Credit, you can complete the application process in your admin.

Steps:

From your Shopify admin, go to Finance.
In the Accounts section, click the Credit offer card.
Click Apply now.
In the Review business details section, click Review details.
On the Review your identity and business details page, click the edit icon to enter your Business type and Business details.
In the Business verification section, click Upload document to upload a verifying document.
When you've verified your information, click Confirm.
In the Account representative section, verify the representative's details, and then click Confirm.
If the representative on your account owns less than 100% of the company, then you can click Add another equity owner.
When you have added all equity owners, click Confirm.
In the Attestation section, click Confirm.
Click Submit for verification.
Carefully review the Shopify Credit Program Terms.
Click Submit application.

Post-application requirements

If your application is approved, then your Shopify Credit account and virtual business card are created. To access your account and start using your card, finish setting up your account.

After your application is submitted, if additional information is required, then you'll be notified by email. This information must be provided within 30 days, or your application will be closed. Upon approval, complete your account setup to start using your virtual business card.

Complete your account setup

From your Shopify admin, go to Finance.
In the Accounts section, click Credit.
Review whether you have two step authentication (2SA) activated for your account. 2SA is required to access all the features of Shopify Credit, so if you aren't already using 2SA, then click Set up two-step authentication.
Review how payments are debited and confirm your connected bank account information. This is the same bank account connected to your Shopify Payments account.
Optional: Add your virtual business card number to your mobile wallet. If you want to skip this step, then click Skip this task.
1. Click View card numbers to reveal your card's number, expiry date, and Card Verification Value (CVV).
2. Add your card information to your mobile wallet.
Optional: Order a physical Shopify Credit business card. If you want to skip this step, then click Skip this task.
1. Enter your shipping information.
2. Click Order physical card.
Click Finish setup.