What is interest?
Interest is charged if you don’t pay in full and on time. Interest is calculated daily on the unpaid balance using a 21% annual rate.
What is the interest charged in the app?
The interest charged in the app is estimated based on your proposed payment amount, remaining balance, and new purchases. The actual interest will appear on your statement.
What is admin fee?
The admin fee is a small charge applied to your statement to help cover operational costs and to continuously provide you with new features to enjoy.
What is the admin fee amount in the app?
The admin fee is charged on your statement balance (excluding fees and interest) and will be fully refunded if you pay in full and on time. No admin fee is charged if you have no statement balance. The admin fee amount you see in the App could be an estimate and updated at some point.
How do I get an admin fee refund?
Pay in full and on time. The refund will appear in your recent transactions in the Honest App within 3 working days from your statement due date. Your available spending limit will increase accordingly. The admin fee amount you see in the app is an estimation and might not be the most updated.