Common use of Earning Points Clause in Contracts

Earning Points. After you have enrolled in the Program, the Company will earn points based on qualifying transactions. You will earn ten thousand (10,000) points in the Program for every $10,000 in eligible company spend transactions (this is the current Earn Rate, and is subject to change). Any company spend transactions not meeting the $10,000 threshold for award of points will carry forward and be eligible for points in future months. For example, if there were $52,000 in company spend transactions in one month, you would earn 50,000 points during that month, and the remaining $2,000 in company spend transactions would be carried forward toward eligibility for future points. Point accumulation and carry-forward of company spend transactions for accrual of points do not alter Account balances nor do they alter any repayment obligations on the Account. A company spend transaction shall mean a Purchase that is both: (i) charged to the Account, and (ii) appears on Your statement during the Program period. Only Net Purchases qualify for points, and points are deducted for returns and exchanges resulting in a credit to the Account, and for any point redemptions appearing as a statement credit. No points are earned for any of the following: Finance Charges; Cash Advances; balance transfers; convenience checks; quasi- cash transactions including purchase of travelers checks, ATM withdrawals, gambling transactions, person-to-person money transfers; any Account-related fees, including annual fees, late fees, over-limit fees, card-related service charges, or foreign transaction currency conversion charges; insurance charges; redemption of points, including any Purchases for which you receive a statement credit; or unauthorized or fraudulent charges, or charges not permitted under the Agreement. We may establish other qualifying and non-qualifying transactions from time to time. You will not be awarded points for any periods in which the Account is not in Good Standing. There is no limit to the number of points you can earn.