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Rewards Program Terms and Conditions

These terms and conditions (the “Rewards Program Terms”) govern the GoodLeap Home Card Rewards Program (the “Rewards Program”). These Rewards Program Terms supplement your GoodLeap Home Card Accountholder Agreement (your “Card Agreement”), which governs the use of your Card.

The Rewards Program allows you to earn rewards points (“Points”) on the dollars you spend in qualifying transactions, as described in the “Earning Points” section below, using your Card. You may redeem Points for cash back, as described in the “Points Redemption” section. By using your Card, you agree to be bound by these Rewards Program Terms.

The Rewards Program is offered in GoodLeap’s discretion, and, subject to applicable law, GoodLeap may withdraw the Rewards Program or change the terms of the Rewards Program at any time. GoodLeap will give you notice before making a material change to these terms, such as limiting or reducing how you can earn, accumulate, or use Points, or before canceling the Rewards Program. If the Rewards Program is terminated, you will have 90 days after GoodLeap notifies you to redeem your Points. The purpose of the Rewards Program is to reward customers for use of the GoodLeap Home Card. Please review the Rewards Program Terms and Conditions carefully for important information about your rights and obligations in the GoodLeap Home Card Rewards Program.

In these terms and conditions, the term “Card” means a Visa-branded GoodLeap Home Card that is linked to your GoodLeap home equity line of credit account (“HELOC Account”). “You” means any person who is listed as a borrower on the HELOC Account. If there is more than one borrower listed on the HELOC Account, then any Points awarded will be awarded to all borrowers on the HELOC Account jointly, and any borrower may redeem the Points earned (subject to these Terms).

Earning Points

You will earn:

  • One (1) Point for every $1 you spend on eligible purchases of goods and services (“Eligible Purchases”) using your Account.

  • An additional Two (2) Bonus Points for every $1 you spend on Eligible Purchases during any statement period in which total Eligible Purchases exceed $2,000, up to an aggregate maximum of $30,000 in Eligible Purchases per 12-month period beginning on the date your Account is opened that are eligible to earn the Bonus Points. This means that you will earn a total of three (3) Points per $1 on Eligible Purchases above $2,000 in a statement period, until you reach the $30,000 annual cap on Bonus Points. Once $30,000 in Eligible Purchases have earned Bonus Points during the applicable 12-month period, subsequent Eligible Purchases will earn only one (1) Point for the remainder of that period.

  • Six (6) Points for each transaction for a qualifying GoodLeap project initiated through the GoodLeap Homeowner App. These transactions earn six (6) Points per $1 in spend in place of, and not in addition to, the One (1) Point or the Two (2) Bonus Points described above. If you apply for a GoodLeap Home Card through a contractor, you will not earn any Points for any initial home improvement project in which you open an Account to pay for that project.

Eligible Purchases do not include balance transfers, cash advances, or similar cash transactions. Eligible Purchases also do not include interest or other finance charges, or fees charged to your Account. When calculating Points, if the result includes a fraction, GoodLeap rounds to the nearest whole number. Amounts ending in .5 or higher round up, and amounts below .5 round down. Rounding occurs on each individual transaction, not on the total amount of Points earned. GoodLeap may change the value of Points for Eligible Purchases, and/or add to or remove from the list of Eligible Purchases from time to time in its sole discretion. When determining Points that have been earned during a billing cycle, any Eligible Purchases will be reduced by the value of any returns, refunds or credit adjustments applied to your Account (whether related to purchases during the billing cycle or prior purchases). The adjustment to Eligible Purchases may take place during the same cycle or in a subsequent cycle. The amount of Eligible Purchases offset by such returns, refunds, or credit adjustments are “Net Eligible Purchases.”

Points earned during a billing cycle will be credited to your Account no later than three (3) business days after the date on which the minimum payment due for that billing cycle is received.

GoodLeap may, in its sole discretion, credit Points to your Account before the three (3) business day period after the date on which the minimum payment is received, described above. Any such early crediting of Points is voluntary and does not obligate GoodLeap to credit Points on the same or any similar timeline in any subsequent billing cycle.

GoodLeap may temporarily prohibit you from earning Points, using Points, or using any features of the Rewards Program if your account is not in good standing. In order to earn any Points, your Card and the associated credit card account must not be suspended, canceled, or terminated, over the limit, or otherwise unavailable to use for charges. If your account is restored to good standing, GoodLeap will reinstate any previously earned and unexpired Points. GoodLeap may also prohibit your use of the Rewards Program if it suspects that you have engaged in fraudulent activity related to your Card or the Rewards Program, or violated the Rewards Program Terms. Points are not available if you are in default under your Card Agreement.

Points awarded for purchases that do not remain Net Eligible Purchases will be deducted from your Points balance. Returned items may result in credits being applied to your Account. These credits will reduce or may eliminate accumulated Points and may result in a negative Points balance. If your Points balance goes negative, you must first earn Points to bring your Points balance to zero before earning any Points eligible for redemption. GoodLeap reserves the right to verify and adjust Points at any time.

Points Redemption

You may redeem Points for cash back via ACH. To redeem Points, you must have a minimum of 2,500 Points (for a $25 redemption). Points have no cash value until redeemed through an approved redemption option. You may not assign, transfer, or pledge your Points or any rewards, including by any operation of law (such as divorce or inheritance). You have no property rights or other legal interest in your Points.

Points awarded for purchases that are returned, refunded, or reversed will be deducted from your Points balance. For example, if you return a product to the merchant and the merchant issues you a refund, we will deduct the Points you earned for the transaction from your Points balance. We will also deduct any Points you earned from a transaction if you later dispute the transaction and your dispute is successful (i.e., the transaction is reversed). If you dispute a transaction, we reserve the right to place a redemption hold on Points in your balance equal to the Points you earned for the disputed transaction.

If your Points balance goes negative, you must first earn sufficient Points to bring your Points balance to zero before earning any Points that are eligible for redemption.

You may not redeem Points if your Account is more than sixty (60) days past due, but you may redeem your accumulated Points after you bring your Account current.

Any Account with a negative balance of more than negative 2,500 Points for more than one billing cycle will generate a charge on the Account equal to $0.01 per Point and a reset of your Points balance to zero.

Expiration and Forfeiture of Points

Important note: Points will expire at the end of the twelve (12) months after your Draw Period ends.

You forfeit your Points if any of the following occur:

  • Your Account is closed before you redeem any Points.

  • You engage in any fraudulent activity.

  • You engage in any activity deemed to be abuse or gaming conduct, as determined by us. Misuse includes, but is not limited to, using the GoodLeap Home Card to maximize points earned in a manner that is not consistent with typical consumer activity, which includes manufactured spend, using your Card at a merchant that you control to generate points, and purchasing items and returning them specifically to game Points accrual.

Points Disputes

If Points you believe were earned have not timely posted to your Points balance, you may dispute your Points balance (“Points Dispute”) by calling GoodLeap. Disputes about Points are not treated as Card Account billing disputes and will not affect your payment obligation on your Card Account. GoodLeap will use reasonable efforts to investigate your Points Dispute if you notify GoodLeap within 90 days of the posting date. If you do not notify GoodLeap within that period, you waive your right to make a Points dispute with respect to that purchase. GoodLeap may require you to provide written confirmation of the dispute and the applicable transaction receipt and may decline to investigate further if you do not provide the requested confirmation or a valid receipt. Upon completion of the investigation, GoodLeap will have no further responsibilities if you later reassert the same Points Dispute.

Limited Liability

Unless otherwise required by law, neither GoodLeap nor any of its affiliates, officers, directors, employees, service providers, or agents will be liable to you, or anyone making a claim on your behalf, in connection with the Rewards Program or these Rewards Program Terms. This includes, but is not limited to, use of the Rewards Program and any redemption for or purchase of products or services through the Rewards Program.

Neither GoodLeap, nor any of its affiliates, officers, directors, employees, service providers, or agents make any representations or warranties, either express or implied, including those of merchantability and fitness for a particular purpose, regarding any reward offered through the Rewards Program.

GoodLeap has made every effort to ensure that the information in the Rewards Program Terms is accurate. GoodLeap is not responsible for errors or omissions and reserves the right to correct such errors at any time, even if it affects a pending Points redemption order.

Important note: Notwithstanding the foregoing, any liability that GoodLeap may have to you in connection with the Rewards Program is limited to the amount of any Points you have earned under these Rewards Program Terms. In addition, unless otherwise required by law, you and GoodLeap each waive the right to seek punitive or exemplary damages against the other.

Indemnification

You agree to indemnify and hold GoodLeap and its affiliates, directors, officers, employees, agents, and contractors harmless from and against any loss, damage, liability, cost, or expense of any kind (including attorneys’ fees) arising from your use of the Rewards Program, any fraud or misuse of the Rewards Program, violation of these Program Terms, violation of any applicable law, or the rights of any third party.

Taxes

You are responsible for any federal, state, or local tax liability that may result from participation in the Rewards Program. Please consult your tax advisor concerning such tax consequences.

Governing Law; Assignment

The Rewards Program and these Reward Program Terms are governed by federal law and, to the extent state law applies, Delaware law. You may not assign your rights or obligations under these Reward Program Terms to any other person or entity.You must promptly notify GoodLeap if your email, phone number, or mailing address changes.

Important note: You and GoodLeap agree that each of us may bring claims arising from or relating to these Reward Program Terms only on an individual basis and not as a plaintiff or class member in any purported class or representative action or proceeding.

“Claim,” as used in these Reward Program Terms means any claim, dispute or controversy that in any way arises from or relates to these Program Terms.

Complete Agreement; Severability; Conflicts; No Waiver

These Program Terms supersede any previous terms and conditions governing the Rewards Program. The Rewards Program is not available where it is prohibited or restricted by law. If any part of these Rewards Program Terms conflicts with applicable law, that provision will be deemed severed from these Rewards Program Terms and the remainder of the Rewards Program Terms will remain in effect. GoodLeap will not lose its rights under these Rewards Program Terms if GoodLeap chooses to delay or not enforce them.