Mercury

## What is the Mercury IO card and how does its daily repayment structure work?

## Overview The Mercury IO card is a corporate charge card, not a revolving credit card, designed specifically for startups and digital businesses. It operates without an annual fee and is distinguished by its unique underwriting and repayment models. The card's primary repayment structure for many new customers is a daily settlement model. This mechanism automatically pays the card's full outstanding balance from the company's linked Mercury checking account at the end of every business day. This daily automatic debit ensures that the company does not carry a balance, thereby preventing the accumulation of debt and the incurrence of interest charges. This structure functions similarly to a debit card in terms of daily cash flow but provides the benefits of a charge card, such as rewards and credit-building. ## Key Features The underwriting process for the Mercury IO card is a key differentiator from traditional corporate cards. Eligibility and credit limits are determined based on the company's cash balances held within its Mercury accounts and any linked external bank accounts. Critically, the Mercury IO card does not require a personal guarantee from the founder or a personal credit check. This means there is no hard pull on the owner's personal credit report and no impact on their FICO score, making it highly accessible to new startups that may not have an established credit history or whose founders wish to keep their personal and business finances separate. While Mercury historically required a minimum balance of $50,000, this requirement has been relaxed. As of late 2025, eligible companies can obtain the card from their first day by starting with the daily repayment model, which mitigates risk for the issuer. ## Technical Specifications As a company grows and its financial position strengthens, it has the opportunity to graduate from the daily repayment schedule to a 30-day (monthly) repayment term. This transition typically becomes available once the company maintains a total cash balance of at least $15,000 within its Mercury accounts. Moving to a monthly cycle provides greater flexibility in managing cash flow, allowing the business to hold onto its capital for a longer period before settling the card balance. Regardless of the repayment schedule, the card offers a flat, unlimited 1.5% cashback on all eligible business spending. The cashback is automatically credited to the company's account after the balance is paid, providing a direct financial return on expenses. ## How It Works Another significant feature of the Mercury IO card is its role in building business credit. Mercury reports the company's payment history to major business credit bureaus, including Experian, Equifax, and Dun & Bradstreet. Consistent use and timely repayment, whether daily or monthly, help the startup establish a strong corporate credit profile that is independent of the founder's personal credit history. This is crucial for securing future financing, loans, or favorable terms with suppliers. For international transactions, businesses should be aware that non-USD card payments are subject to a currency exchange fee. The platform also includes robust spend management tools, allowing administrators to issue an unlimited number of virtual and physical cards, set granular spending limits, lock cards to specific merchants, and automate receipt matching for simplified expense reconciliation. ## Use Cases ## Limitations and Requirements ## Comparison to Alternatives ## Summary In conclusion, the Mercury IO card is a corporate charge card tailored for startups, featuring a default daily repayment structure that prevents debt and interest. Its cash-based underwriting model eliminates the need for a personal guarantee, making it accessible to new businesses. The card offers 1.5% cashback and helps build a company's business credit profile. As a company's cash balance grows to $15,000, it can transition to a more flexible 30-day repayment cycle. This combination of features provides a controlled spending tool that supports a startup's financial discipline and growth.