Common use of CASH BACK PROGRAM Clause in Contracts

CASH BACK PROGRAM. You will earn Cash Back on your Purchases subject to the limitations and conditions provided herein. The Cash Back amount is measured as a percentage of the net value of your Purchases (i.e., the cost of your Purchases less any credits or returns). For each billing cycle, your Cash Back amount will be 1.5% for the first $500 of your net Purchases, and 1% for all other net Purchases during the applicable billing cycle. There is no maximum dollar limitation on your Cash Back. You will not earn Cash Back: (i) on Cash Advances or Balance Transfers; (ii) if you have exceeded your Credit Limit or for a Purchase that would result in your Credit Limit being exceeded; (iii) if your Account is past due; (iv) for any Purchase that is determined to be fraudulent or initiated by any person other than an Authorized User; or (v) for any Purchase made for a business or commercial purpose. Provided that your Account remains active and you remain eligible to earn Cash Back pursuant to the terms set forth herein, your Cash Back will not expire. However, if you voluntarily close your Account or your Account is in default or otherwise terminated by us pursuant to the terms of this Agreement as permitted by applicable law, any unredeemed Cash Back is subject to immediate forfeiture unless redemption of your Cash Back is specifically authorized by us in our sole discretion. We reserve the right to discontinue the Cash Back program at any time without notice to you unless required by applicable law. You are eligible to receive rebates from participating merchants with which you use your Card to make Purchases. The amount of any such rebate will vary and will be based on the amount of your Purchases with the participating merchant. Rebate offers may include a specific timeframe, minimum Purchase amount and other conditions, and are subject to change at any time without notice to you. Rebates will be calculated as of the end of each billing cycle as a percentage of your net Purchases (the amount of your Purchases less credits or returns). In the event that your accumulated rebate credits exceed Purchases on your Account as of the end of any billing cycle, your Billing Statement for that billing cycle will display negative rebate dollars. We reserve the right to suspend or terminate the distribution of rebates in the event that your Account is considered to be in default under the terms of this Agreement.