diff --git a/src/pages/workspace/expensifyCard/WorkspaceCardsListLabel.tsx b/src/pages/workspace/expensifyCard/WorkspaceCardsListLabel.tsx
index 22f20f954ec0..1120619a450f 100644
--- a/src/pages/workspace/expensifyCard/WorkspaceCardsListLabel.tsx
+++ b/src/pages/workspace/expensifyCard/WorkspaceCardsListLabel.tsx
@@ -99,7 +99,8 @@ function WorkspaceCardsListLabel({type, value, style}: WorkspaceCardsListLabelPr
     };
 
     const isCurrentBalanceType = type === CONST.WORKSPACE_CARDS_LIST_LABEL_TYPE.CURRENT_BALANCE;
-    const isSettleBalanceButtonDisplayed = !!settings?.isMonthlySettlementAllowed && !cardManualBilling && isCurrentBalanceType;
+    const settlementFrequency = settings?.monthlySettlementDate ? CONST.EXPENSIFY_CARD.FREQUENCY_SETTING.MONTHLY : CONST.EXPENSIFY_CARD.FREQUENCY_SETTING.DAILY;
+    const isSettleBalanceButtonDisplayed = settlementFrequency === CONST.EXPENSIFY_CARD.FREQUENCY_SETTING.MONTHLY && !cardManualBilling && isCurrentBalanceType;
     const isSettleDateTextDisplayed = !!cardManualBilling && isCurrentBalanceType;
 
     const settlementDate = isSettleDateTextDisplayed ? format(addDays(new Date(), 1), CONST.DATE.FNS_FORMAT_STRING) : '';