BBVA Compass Visa Business Credit Card
Rules for the Visa® Business Rebate Credit Card Reward Program
The Rules for the Visa Business Rebate Credit Card Reward Program (“Business Reward”) are not part of the Visa Business Card Master Agreement & Disclosure Statement for the Visa Business Rebate Card Account. However, capitalized terms used here and in the Master Agreement have the same meaning as those terms have in the Master Agreement.
1. Description of the Business Reward. The Business Reward is an annual bonus denominated in dollars and cents that may be earned by a Business based on Purchases made by Authorized Cardholders with Cards issued for a Visa Business Rebate Card Account. The Business will receive any Business Rewards in the form of a cash equivalent (such as a check or a credit to the Business' Account). The method of award may vary from year to year. The Business Reward is subject to these Rules, which may change without notice. The Business Reward program may be cancelled at any time. The Business may be disqualified from receiving the Business Reward as set forth in these Rules.
2. The Amount of the Award. The amount of the Business Reward is computed for each billing cycle by taking a percentage of the total net amount of qualifying Purchases. The percentage is based on the net Purchases accumulated as of the billing cycle according to the applicable spending tier. Spending tiers and reward percentages for the program will be established at the beginning of each calendar year and will be communicated to participants within the first quarter. Beginning in 2009 and until further notice all Spending Tiers and Reward Percentages shall be:
- 1.00% of net Purchases for the year
3. The Purchases Included in the Calculation. The Business Reward is awarded only once for any calendar year. The qualifying Purchases posted to Cardholder Statements for billing cycles beginning in a calendar year will be included in the calculation of the Business Reward for that calendar year. Calculations for an annual Business Reward will be based on 12 monthly billing statements at the most. The qualifying Purchases posted to monthly statements for billing cycles starting with the monthly statement that begins in January and ending with the monthly statement that begins in December will be used in the calculation for that year.
It is possible that some purchases made, or credits given, in a calendar year will not be included in the calculation for that calendar year. For example, transactions that post during a billing cycle that begins in December and ends in January will be included in the calculations for the year in which December falls. Thus, some purchases made in January would be included in the prior year’s calculation.
4. The Amount and Type of Purchases Used to Calculate the Award. The Bank reserves the right to exclude any charges for Purchases it determines are not made with the good faith intention of consuming the goods purchased. Business Rewards are not earned for Cash Advances or Balance Transfers or for balances on the account due to fees, interest, or other charges that are not Purchases. Purchase of casino chips, scrip, or other cash equivalents are considered Cash Advances under the Business Card Master Agreement. Business Rewards will not be earned for the purchase of goods and services with Checks used by Authorized Cardholders to access the Business Card Account. Amounts credited against the amount of Purchases on an account (such as amounts for returned Purchases or reversal of erroneous charges) will be calculated and deducted during the billing cycle in which they post--based on the Reward Tier applicable to that cycle—before the Business Reward is calculated. The Business, therefore, could have more points deducted for a returned Purchase than points it earned on the Purchase, if the Purchase was added to the Account in a prior statement cycle.
5. When the Business Reward is Calculated. Business Rewards are calculated at the end of each billing cycle, as explained above, and will be awarded during the first quarter of each calendar year for the prior calendar year. They are awarded after the calculation for the last billing cycle of the year has been completed, but not necessarily at the same time. The dates of the calculation and the award are in the Bank’s sole discretion. If the Business has selected Business Billing, then the Business Statement may show a cumulative net estimate of the Business Reward based on Cardholder Statements. Businesses that have selected Individual Billing may receive a summary statement showing the computation of the Business Reward for the prior Reward Year. The monthly Cardholder Statements showing charges on an Authorized Card may also, in the Bank’s discretion, show a cumulative net estimate of the Business Reward for purchases on that Card.
6. Reward Checks. If the Business Reward is awarded in the form of a check (“Reward Check”), the Reward Check will be issued in the name of the Business and will be mailed with the Business Statement or mailed separately to the address we have on our records for the Business Statement on the date we send the check. The Checks are not certified by the Bank. The Business may request the Bank to stop payment on a lost or stolen Reward Check. If the Bank is successful in preventing payment of the stolen or lost Reward Check and determines, in its sole discretion, that it has no liability to a third party for stopping payment, then the Bank may reissue the Reward Check. Whether or not to reissue a Reward Check, however, is in the Bank’s sole discretion.
Reward Checks should be cashed within 90 days after date issued. If a Reward Check is not cashed during that period the Bank may, but is not required to, void the Reward Check and is not required to replace it or provide any other form of payment for the Business Reward. It is the Business’ responsibility to notify the Bank if it has not received an award Check during the first calendar quarter of a year.
7. Limitations. The Business has no right to a Business Reward that has accrued until it is awarded. The Business will forfeit the Business Reward for the prior calendar year if the Business Account has been closed by the Bank or the Business, or is not an active account, during or prior to the time the Bank calculates or awards the Business Reward (even if the Business has not finished paying the balance on a closed account).
In its discretion, the Bank may choose to award the Business Reward to a Business that is delinquent at the time of the calculation of award, as a credit to the Business Account. Authorized Cardholders have no right to the Business Reward for purchases on a Card.
If the Bank gives the Business a choice or election about the form in which it may receive or award the Business Reward, the failure to make a timely choice or election may result in the Bank’s using default options or disqualifying the Business from receiving the Business Reward.
The recipient of the Business Reward must pay any taxes or other amounts due for payment or receipt of a Business Reward, and the Bank assumes no tax liability for Business Rewards earned or paid on an Account.
The Visa Business Rebate Credit Card and the Business Reward program are offered by Compass Bank, which reserves the right to change or discontinue the Business Reward feature of the credit card at any time without prior notice. The Business Reward Program is not available to businesses in California, Iowa, Maine, New York, or Wisconsin and is void where prohibited or restricted by law.
