How the minimum payment setting works

If your AutoPay setting is set to minimum payment, Keep will automatically turn your unpaid balance into a 12-month plan. This guide explains how it works and where to manage it.

What is a 12-month auto-extension?

A 12-month auto-extension is a repayment plan that splits your unpaid statement balance into 52 weekly payments. A Fee applies, and payments are withdrawn automatically from your linked account.

This plan is created automatically when your AutoPay setting is set to minimum payment.

What fees apply?

When your balance converts to an extension, a Fee of 3% per month is charged on the amount you carry forward. The Fee is calculated from the start of your statement period — not from the due date.

Example
Balance carried forward	$1,000
Fee rate	3% per month
Total Fee charged	$360

The Fee is spread across your first 12 installments. Each installment is made up of a fee component and a principal component — you can see the breakdown of both in your payment details.

Why are my first payments higher? The Fee is calculated from the start of your statement period rather than your due date. Because this initial period has already passed by the time your extension begins, the Fee is structured so that these accrued costs are recovered across your first 4 weekly installments. This means your first few payments will be slightly higher, and your remaining payments will decrease.

How to avoid the Fee: Pay your full statement balance by the due date each month. If you do, no extension is created and no Fee is charged.

Want to switch to full balance payments instead? Learn how to change your AutoPay setting

Where to find and manage your extension

To view your extension:

Go to the Payments tab in your dashboard
Click Statement Extensions
You’ll see:
- Total extension amount
- Remaining balance
- Weekly repayment schedule
- Status (active or paid)
- View details for full breakdown

In the View details window:

You’ll see your current AutoPay setting
- Minimum payment → extensions will continue each month
- Full balance → no extensions will apply
You can also update your AutoPay preference directly from the payments section. See here how

You can make changes anytime before your next due date.

Can I pay it off early?

Yes! You can make full or partial payments toward your extension at any time. There are no penalties, and once your balance is paid in full, remaining weekly payments stop automatically.

Note: the Fee is not prorated. Since it's collected in your first installments, it won't be refunded if you pay off your balance early.

Frequently asked questions

How do I stop the 12-month extension from being created?

Set your AutoPay to full balance and ensure your account is funded before the due date.
How do I avoid the Fee?

Pay your full statement balance by the due date. If no extension is created, no Fee applies.
Why is my first payment higher than expected?

The Fee is collected upfront across your first 4 installments. It's calculated from the start of your statement period, so your first payments will be slightly higher. Your remaining payments will be lower.
Where can I see the Fee on my dashboard?

Each installment is broken down into a fee component and a principal component. You can view this in the View details window under Statement Extensions.
Can I change the plan to a shorter term?

No, the plan is fixed at 12 months. But you can pay it off early anytime to shorten it.
Will I get a reminder before the extension starts?

Yes. You'll get an email 3 days before your due date confirming whether an extension will apply.
Does the extension affect my ability to use the card?

No. Your card stays fully active while you're on a repayment plan.

Need more help?

Still have questions about auto-extensions or AutoPay?

We’re here to help, email us at support@trykeep.com or reach out from your dashboard.