CASH BACK TERMS & CONDITIONS
By participating in the NASA Federal Visa® Debit Card with Cash Back Program (Program) described here, you are agreeing to be bound by the following Terms and Conditions. As used in this Terms and Conditions document, “you” or “your”
means each and all owners of the Checking Account (as defined below), and “we” or “us” means NASA Federal Credit Union.
ELIGIBILITY – All NASA Federal Visa Debit Cards issued in the United
States and linked to an open Checking Account in good standing are eligible to participate in the Program. This includes Personal and Business Checking Accounts. We may, at any time, suspend participation in the Program until the Checking Account
is in good standing. We reserve the right to determine in our sole discretion whether a particular NASA Federal Visa Debit Card or cardholder is eligible to participate in the Program. Cash Back Rewards are issued per Member.
There are no necessary applications, signatures or instructions to follow to enroll in the Program. All eligible NASA Federal Visa Debit Card cardholders are automatically enrolled to earn cash back.
EARNING CASH BACK –
Only qualifying transactions with an eligible NASA Federal Visa Debit Card can earn cash back. You will earn cash back each time you use your NASA Federal Visa Debit Card to pay for purchases. The cash back value will differ for “Signature”
transactions and “PIN” transactions.
A “Signature” transaction is one in which you use your NASA Federal Visa Debit Card and sign for your purchase. A “PIN” transaction is one in which you enter your
unique PIN at the point of purchase. You will earn $.05 for each positive Signature transaction and $.02 for each positive PIN transaction subject to a total annual redemption amount limit per member of $250. ATM transactions are not qualifying transactions.
We reserve the right to determine in our sole discretion whether a particular Visa transaction is a qualifying transaction. Any returns, credits or chargebacks earn “negative” cash back at the same rate and type earned by the original
transaction. The “negative” transaction will be deducted from the total cash earned, as applicable, and the balance will be reflected on your monthly statement.
CASH BACK REDEMPTION – Cash back will accumulate
throughout the calendar year. On the last day of each calendar year (December 31), we will automatically redeem each positive signature transaction for $.05 and each positive PIN transaction for $.02, subject to a total annual redemption amount limit
per member of $250, and deposit this amount into a Prime Share Savings Account linked to the Checking Account. Cash back will not be redeemed if the Checking Account is closed, any loan is delinquent or charged-off, or any Account has been expelled
from membership at NASA Federal Credit Union.
UNREDEEMED CASH BACK – Any accumulated cash back will be forfeited if the Checking Account is closed by you or us prior to December 31. We will determine in our sole discretion
what is a closed, delinquent or charged off account. You are not entitled to any compensation from us or Visa USA, Inc., or from any other source, if your cash back is forfeited for any reason.
OTHER REDEMPTION RULES – The
following other redemption rules apply:
- If you close the Checking Account and open a new Checking Account with us, accumulated cash back will be transferred to the new account. Otherwise, you may not transfer cash back.
- Cash back cannot be redeemed before December 31 or exchanged for credit and cannot be used to pay off any obligation.
- We may modify, restrict or change the Program at any time. Such changes may include changing the value you earn or imposing, increasing or eliminating cash back caps, or changing the conditions under which your cash back rewards expire or are forfeited.
We also reserve the right to suspend or terminate the Program, or your participation in the Program, or to change the redemption value of the cash back rewards already accumulated at any time without compensation to you.
- You may cancel your participation in the Program at any time by sending a written request to opt-out to us at: Cash Back Visa Debit Card Program, NASA Federal Credit Union, P.O. Box 1730, Bowie, MD 20717. You will forfeit all cash back by opting out.
- Any cash back offered under this Program is void where prohibited by law. Notwithstanding anything in these Terms and Conditions to the contrary, we, Visa USA, Inc. and any of their service providers shall have no liability to you in connection with