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Before you begin spending, it’s helpful to understand how Karat accounts and cards are organized in your dashboard. Karat Banking Karat Banking includes two account types: a Checking account and a Tax ATP account. Your Checking account is your primary operating account. Deposits arrive here, payments are sent from here, and Banking Cards spend directly from this balance. The Tax ATP account is optional and helps you automatically set aside money for taxes by transferring funds from Checking into Tax ATP. In your dashboard, Banking Cards are managed under Banking > Cards. Karat Card Karat Credit is a separate product. The Karat Card requires a separate application and approval process. If approved, spending on the Karat Card draws from your available credit line (not from your Checking account) and follows a monthly billing cycle. In your dashboard, the Karat Card is managed under Credit Card > Cards. To begin spending, make sure your Checking account is funded for Banking Cards, or that your Karat Card application has been approved and activated.

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Activate your card

Physical cards must be activated before they can be used. You’ll receive activation instructions when your physical card is delivered. Virtual cards do not require activation and can be used immediately after they are issued. If you’re experiencing issues with a card, confirm that it shows as active in the appropriate section of your dashboard:
  • Banking > Cards for the Banking Card
  • Credit Card > Cards for the Karat Card

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Spend with your card

Once activated, you’re ready to begin spending. If you’re using a Banking Card, purchases draw directly from your available Checking account balance. Transactions appear in real time under Banking > Cards , where you can review activity and monitor spend by cardholder. If your balance is insufficient, transactions may be declined until additional funds are added. If you’re using the Karat Card, purchases draw from your approved credit line, not from your Checking account. Spending accumulates toward your statement balance and follows a monthly billing cycle. You can monitor available credit, current spend, statement balance, transactions, and rewards under Credit Card in your dashboard. Karat is a financial technology company, not a bank. Banking services provided by Grasshopper Bank, N.A., Member FDIC. The Karat Visa® Business Credit Card is issued by Cross River Bank, Member FDIC, and pursuant to a license from Visa️ USA.