Rewards Program Terms and Conditions

CUSTOMERS BANK BUSINESS CREDIT CARD

REWARDS PROGRAM TERMS AND CONDITIONS

We are providing a Rewards Program (the “Rewards Program”) with our Customers Bank Business Credit Card Agreement (“Credit Card Agreement”). These Terms and Conditions (“Terms”) govern the Rewards Program and rewards under the Rewards Program (“Rewards”). All capitalized terms not otherwise defined in these Terms are defined in the Credit Card Agreement.

Nature of Rewards. Rewards you earn are redeemed for statement credits. We will show on your billing statement the dollar amount of your Rewards. You may not transfer, assign, pledge, buy or sell rewards. Rewards are not eligible for insurance coverage from the Federal Deposit Insurance Corporation. Rewards have no cash or any other value until redeemed.
Earning Rewards. When a Card Purchase is posted to your Account, you will earn a Reward that can be redeemed for a statement credit equal to 1.5% of the dollar amount of the Purchase. For example, if you make a $100 Purchase under your Account, you would earn a Reward redeemable for a $1.50 statement credit. In addition, if you make at least $5,000 of Purchases (net of related refunds and credits) in the first three billing cycles after you open your Account, at the end of your fourth billing cycle, you will earn a bonus Reward that will be automatically redeemed for a $500 statement credit. Despite the foregoing, if we determine that you have made any Purchase in violation of the Permissible Uses section of the Credit Card Agreement, such as a Purchase for personal, family and household purposes or an illegal Purchase, then we reserve the right to not credit Rewards, to reverse Rewards previously credited or redeemed and/or to set off against future Rewards earned.
Redeeming Awards for Statement Credits. At any time your Account is in good standing (that is, not past due), the Card Administrator may use the Platform to redeem your Rewards for statement credits (except for any bonus Rewards, which will be automatically redeemed when earned). You may only redeem the entire balance of your accumulated Rewards. Partial redemptions are not currently supported. You may not redeem Rewards for a statement credit while your Account is past due.
Rewards Reductions and Reversals. Rewards will be reduced or reversed in the event of any refund, reversal or credit on a prior Purchase, and we may credit against the Account or you must refund any statement credit you received if you have an insufficient Rewards balance at any time to cover any Reward reductions or reversals in full.
Rewards Program Amendments. Subject to applicable law, we may modify or end the Rewards Program at any time, with or without notice. However, upon your request we will make available to you the current version of these Terms. If we end the Rewards Program, we may cancel any Rewards you have earned but not redeemed prior to termination, subject to applicable law.
Misconduct; Loss of Rewards. If your Account is closed for any reason, any Rewards you have not yet redeemed will be canceled. Also, you may not redeem any Rewards when your Account is past due. If we suspect fraud, misuse, abuse or suspicious activity under the Account or the Rewards Program, as determined by us in our sole discretion, we reserve the right to take action against you. Subject to applicable law, such actions may include, without limitation and without prior notice, suspending or terminating your participation in the Rewards Program, reversing any Rewards you have earned, preventing you from Redeeming rewards or reversing any statement credits you have received under the Rewards Program.
Tax Liability. You are responsible for any tax liability you incur related to your participation in the Rewards Program. Please consult your tax advisor.
Communications; Applicable Law; Arbitration; Etc. All provisions of the Credit Card Agreement with respect to notices, communications, call monitoring/recordings, applicable law and arbitration fully apply to the Rewards Program and these Terms.