With billing, you have the option of signing up for monthly billing or annual billing. This article will cover how both of those options work.
When you sign up for monthly billing, we charge the credit card on file at the conclusion of each billing period. Go to Settings > Billing > Billing Info to view your current billing period.
Annual billing (2 months free)
When you sign up for annual billing, we run an upfront charge and administer 1 year worth of credits to your account (based on the plan type you’ve selected). For example, if a user selects annual billing under the Basic plan type ($49/month), they would see an upfront charge of $490. However, $588 worth of credits ($49X12) is added to the user’s account — that’s 2 months worth of usage under that plan type for free. We then deduct the appropriate amount of credits based on the user’s total usage at the conclusion of your billing period. Visit this page for an extensive explanation on how annual credits work.
Is it possible to run out of my credits early under annual billing?
Yes. let’s say, for example, a user has signed up for annual billing under the Basic Plan Type, which allows for up to 2500 active subscribers. If at any point the user’s account exceeds the given plan type they originally signed up for, the account will auto upgrade to the next most cost-effective plan type based on the high water mark of active subscribers in their account(s) during that billing period. So, whether you run out of your annual credits early, or on the 1-year mark, Drip will automatically continue your subscription and charge the credit card on file for another year of annual credits based on the current plan type your subscription currently falls under.
Check out this video on how annual credits work:
Keeping track of your remaining credit balance.
Your remaining credits are displayed on each invoice you receive. You can view your invoices under Settings > Billing > Payment History and select the invoice you would like to view.
When you open an invoice, you'll see your credit balance on the "Credit Remaining" row.
Updating your invoice
Fill out the "Company Info" form under "Billing Info" if you'd like to update the information that appears on your invoice going forward.
If you need to update previous invoices, please reach out to support via a ticket and we will be able to get those update for you.