How the Slash Card Works

Overview

The Slash Visa Platinum Card is a corporate charge card designed for companies of all sizes. Unlike traditional credit cards that bill you monthly, the Slash Card settles your balance automatically at the end of each business day — so you never carry a balance or pay interest.

This article covers how the card works, the different card types available, how your credit limit and available spending are determined, and how daily repayment keeps things simple.

What Is a Charge Card?

A charge card works differently from a traditional credit card. With a credit card, you can carry a balance from month to month and pay interest on what you owe. With a charge card, your balance is paid off in full on a regular cycle — in the case of the Slash Card, that cycle is daily.

This means:

• No interest charges. Your balance is settled daily, so there's nothing to accrue interest on.
• No monthly bills to track. Repayment happens automatically each business day.
• Spending is backed by your deposits. Your available credit is tied to the funds in your Slash account, giving you real-time control over your spending capacity.

Card Types

Virtual Cards

Virtual cards are digital cards that can be created instantly from your Slash dashboard. You can create an unlimited number of virtual cards, making them ideal for:

• Online purchases and subscriptions
• Vendor payments
• Employee expenses
• Separating spend by team, project, or department

Virtual cards can also be added to Apple Pay, Google Pay, and Samsung Pay for contactless payments.

Physical Cards

Physical Slash Cards are chip- and contactless-enabled Visa cards for in-person purchases. You can order physical cards from your dashboard and assign them to team members.

How Your Credit Limit Works

Your credit limit is the maximum amount you can spend on your Slash Card at any given time. It's determined by two factors:

1. Your maximum credit limit, which is set based on your business profile and risk assessment.
2. Your account balance. Your available credit limit cannot exceed the funds you have on deposit with Slash.

Your effective credit limit is whichever of these two amounts is lower. For example, if your maximum credit limit is $100,000 but you have $50,000 on deposit, your effective credit limit is $50,000.

How Available Spending Is Calculated

Your available spending at any moment is your credit limit minus your current outstanding card balance. This updates in real time. When you make a purchase, your available spending decreases immediately. When you deposit funds or your daily repayment settles, your available spending increases.

Example: You have a $50,000 credit limit and spend $12,000 today. Your available spending drops to $38,000 right away. After autopay settles at end of day, your balance returns to zero and your full $50,000 is available again.

You can check your credit limit and available spending anytime from the Credit section of your Slash dashboard.

Daily Repayment

At the end of each business day, Slash automatically calculates your total settled card charges and transfers the corresponding amount from your cash account to pay off your card balance. You'll see this appear as a "Daily Credit Card Payment" transaction in your account.

Here's what that looks like in practice:

1. You make purchases throughout the day using your Slash Card.
2. At end of day, Slash totals your settled transactions.
3. Funds are automatically moved from your cash account to settle the balance.
4. Your card balance returns to zero (for settled transactions), and your full credit limit is available again.

For a detailed look at autopay mechanics including refund handling and troubleshooting, see our article on How Slash Card Autopay Works.

Frequently Asked Questions

Is the Slash Card a credit card?

No. The Slash Card is a charge card. Unlike credit cards, your balance is paid off automatically every business day — you don't carry a balance or pay interest.

What happens if I don't have enough funds for daily repayment?

If your Slash account doesn't have sufficient funds when autopay runs, you'll be notified. It's important to keep your account funded to cover daily spending. Repeated shortfalls can result in your card being temporarily frozen or your credit line being reduced.

Can I increase my credit limit?

Your credit limit is reviewed and adjusted based on your account activity, deposit history, and business profile. Maintaining consistent funding and spending can lead to increases over time. You can also increase your available credit at any time by depositing additional funds.

Can I use the Slash Card internationally?

Yes. All cards run on the Visa network, so they can be used anywhere Visa is accepted worldwide.

How many cards can I create?

You can create an unlimited number of virtual cards. Physical cards can also be ordered for any team member who needs one.

Need More Help?

If you have questions about how the Slash Card works or need help with your account, reach out to our support team at support@slash.com, or use the in-app chat in your Slash dashboard.