BankAmericard Travel Rewards Program Rules

Transcription

1 BankAmericard Travel Rewards Program Rules BankAmericard Travel Rewards credit card customers are automatically enrolled in the BankAmericard Travel Rewards program ( the Program ) at no additional cost. FIA Card Services, N.A. (also referred to as our, us or we ) sponsors the Program. Each Cardholder, joint Cardholder and authorized user(s), if any, (referred to as Cardholder(s), Participant(s), you or your with a BankAmericard Travel Rewards credit card account ( Card ), may earn and use points ( Point(s) ) to obtain the following types of rewards ( Rewards ): travel credits; merchandise, gift cards or gift certificates; charitable donations; cash ( Cash Rewards ). A complete selection of Rewards is displayed online at bankofamerica.com/travelrewards (the Site ). Review and keep this document ( Program Rules ). The Program Rules are separate from the terms of your Credit Card Agreement. From time to time we may change the Program Rules. When any change is made, we will post revisions at the Site and/or we will notify you in writing, as applicable. It is your responsibility to review the Program Rules to be aware of any changes. General Terms 1. To participate in the Program, you must (a) maintain a Card that is open and has charging privileges and (b) be an individual (no corporations, partnerships or other entities). 2. Point earnings are based on the new net retail purchase transaction volume (i.e., purchase less credits, returns and adjustments) charged to the Card during each periodic billing cycle ( Billing Cycle ) by the Participant(s) ( Net Purchase(s) ). Earn 1.5 base Points per dollar in Net Purchases charged to your Card each Billing Cycle. You will earn 3 Points per dollar (consisting of 1.5 base Points and 1.5 bonus Points ( Bonus Points )) for the first $6,000 in airline purchases (up to 9,000 Bonus Points) made at the Bank of America Travel Center ( Travel Center ) each calendar year. You will earn base Points for airline purchases in excess of that amount per year. All other purchases made at the Travel Center, excluding insurance purchases, will receive 3 Points per dollar with no limit on the number of Bonus Points per year. If the first named Cardholder on the Card account ( Primary Applicant ) has an open checking, savings or retirement account with Bank of America, N.A., a Cash Management Account, Merill Edge or any other account with Merrill Lynch, Pierce, Fenner & Smith Incorporated or U.S. Trust ("Qualifying Customer Account") the Card account will earn an annual Bonus Points award ( Annual Customer Bonus ) of 10% of the amount of Net Purchases (or 1 Bonus Point for every $10) made with the Card during the year. The Primary Applicant s Qualifying Customer Account must be open at the time of review, which will occur on or around December 31 st of each year. The Annual Customer Bonus will be calculated on the amount of Net Purchases made with the Card from January 1 st through December 31 st each calendar year. The Annual Customer Bonus will appear on your February or March monthly billing statements. Points are calculated at each transaction, rounded to the nearest whole Point and are subject to verification. Balance transfers, cash advances, including purchases of cash equivalents of any kind, purchases made by or for a business or for a business purpose, fees, interest charges, credit insurance, credit protection, or debt cancellation charges and unauthorized/fraudulent transactions do not earn Points. From time to time, special promotions may feature additional opportunities to earn Bonus Points. Details will accompany the offer. 3. For new customers, accrual of Points may begin on the date we mail the Card and the Credit Card Agreement to you. If you are an existing credit card customer and your account is converted to the Program, you may not earn Points until the first day of the Billing Cycle, beginning after you receive the Card(s). 4. Points cannot be redeemed if the account is not in good standing at the time of redemption. In addition, Points accrued during any Billing Cycle in which the account is two cycles or greater past due at the end of the Billing Cycle will not be awarded. 5. The Billing Cycle statement will show your Points earnings. Points are not eligible for use until they have appeared on a Statement. With the exception of their use in connection with obtaining the specific Cash Rewards, Points have no intrinsic cash value, are non-negotiable and cannot be redeemed for any benefit except those Rewards designated by us. Points are not property of any Cardholder or other person, and may not be brokered; bartered; attached; pledged; gifted; sold; or unless specifically authorized by us, transferred to anyone else under any circumstances, including, but not limited to: disability; death; upon operation of law, or in connection with any domestic relations dispute and/or legal proceeding. We shall have no liability for disagreements between Cardholders regarding Points. Discrepancies about Point earnings are not treated as credit

2 card billing disputes: refer to your Credit Card Agreement or the annual Your Billing Rights notice for details about billing disputes. Our decisions regarding Point discrepancies shall be final. Unless specifically authorized by us, Points and rewards may not be combined with other discounts, special rates, promotions, or other reward programs offered by us. Unless specifically authorized by us, Points cannot be transferred between any credit card accounts issued by us. Points and rewards may not be combined with any other entity, including airline frequent flier, hotel frequent guest or other travel-related or membership reward charge or credit card programs, whether in the U.S. or abroad, unless authorized by us. 6. To obtain merchandise, gift card/certificate Rewards or Cash Rewards go to the Site or call the Redemption Center at Redeemed Points are deducted from your Points balance as of the date you request a Reward. Requests to redeem or convert Points may be made by the Cardholder and the authorized user(s), if any. Decisions made by us regarding Points redemption shall be final. Neither FIA Card Services, N.A., nor any of the independent third parties shall have any liability for fulfilling Reward requests in good faith in response to any person claiming authority on your behalf. Merchandise rewards cannot be shipped to P.O. boxes. Gift card/ gift certificate rewards can be shipped to any address you designate, subject to the shipping terms found at the Site or by calling the Redemption Center. For specific information about the fulfillment of Cash Rewards or the conversion of Points, see the section of the Program Rules discussing this category of Reward. 7. Points redeemed for a merchandise reward may be credited back to your earnings only if the Reward is damaged or defective and only in accordance with the procedures we specify. Gift card/certificate rewards are considered fully redeemed once issued. Cash Reward redemptions are final once the request has been made. We shall not be responsible for lost, stolen or undelivered checks. Once a Reward is issued and the value of any transaction(s) forming part of any or all of the Points used to obtain the Reward is either refunded, credited or otherwise rescinded, we may, at our discretion, interrupt the shipment of merchandise, stop payment on any check(s), and/or withhold subsequent Points, or collect any amount(s) you owe, in any appropriate manner, including, but not limited to, the posting of an equivalent dollar debit in the form of a cash advance transaction to your Card. 8. If a Cardholder voluntarily closes the Card or we close the Card, all unused Points are immediately and irrevocably forfeited. We reserve the right to disqualify anyone from participation in the Program, refuse to award or redeem Points, and close your Card if, in our sole judgment, you or any other person(s) using the Card, have violated any of the Program Rules, including but not limited to acts of fraud or other abuse. You are responsible for all transactions and other activities resulting from the use of your credit card account. You must immediately notify us of any actual or suspected unauthorized use of your account. 9. We may, at any time, without prior notice, (a) change, limit, or terminate any aspect of the Program; (b) terminate the Card Program in its entirety; (c) amend the Program Rules, benefits or features, in whole or in part; (d) may discontinue or replace any Reward with a similar one of lesser, equal or greater value; (e) may modify, delete or terminate any or all of the Program, the Program Rules or any portion thereof, any or all of the participating partners (if any), Rewards, benefits or special offers if applicable; or (f) terminate a Cardholder s participation in the Card Program for any reason. Changes may affect outstanding transactions and Points, and may include, but are not limited to, the earnings rate for Points, the number of Points required to redeem Rewards, the number of Points required for any Reward, the type of transactions qualifying for Points, the type or value of Rewards, the expiration date of Points and the maximum number of Points that may be earned per month or year, or otherwise, if applicable. Any of the foregoing actions may be taken even if such actions affect the value of Points already earned. The program is not scheduled to end on a predetermined date. 10. We are not responsible for delayed or lost correspondence sent by U.S. mail or any other form of delivery, including . We assume no responsibility for any error, omission, interruption, deletion, defect, delay in operation or transmission, theft, destruction, or unauthorized access to, or alteration of Points accrued and redeemed or other Program activities. For information about our rights and your responsibilities regarding the online portion of the Program, see the Terms of Use at the Site. 11. Suppliers of goods and services are independent contractors and are neither agents nor employees of FIA Card Services, N.A., Visa U.S.A. Inc., MasterCard International Incorporated, or any of their affiliates; or any group, organization or entity endorsing a credit card program issued by FIA Card Services, N.A. FIA Card Services, N.A. neither offers, endorses, nor guarantees any of the goods, services, information or recommendations provided by third parties to you. 12. Independent third parties manage the merchandise, gift card and certificate Rewards portions of the Program. The Cash Rewards portion of the Program is managed by FIA Card Services, N.A.

3 13. You agree to release FIA Card Services, N.A., the independent third parties, and each of their respective affiliates and subsidiaries from all liability for injury, accident, loss, claim, expense or damages sustained by you, anyone traveling with you or without you, in connection with the receipt, ownership or use of any Reward. The foregoing entities shall not be liable for consequential damages, and the sole extent of liability, if at all, shall not exceed the actual value of the Reward. We are not responsible for typographical errors and/or omissions in any Program document. 14. You are responsible for determining any tax liability arising from participation in the Program. Consult your tax advisor concerning tax consequences. The Program is subject to government approval and is void where prohibited by law. All aspects of the Program are governed by the laws of the State of Delaware, without any reference to its choice of law provisions. Travel Statement Credit Rewards You can redeem Points for a statement credit in U.S. dollars to offset qualifying travel purchases ("Travel Credit"). To obtain a Travel Credit visit the Site or telephone us. The redemption value for Points redeemed for Travel Credits may vary and is subject to change. Current Travel Credit values and their respective Points requirements can be obtained by signing into the Site. A Travel Credit will only be available to redeem for purchases from the Travel Center or for qualifying travel purchases made elsewhere as defined by the following merchant category codes ("MCC"): (a). Airlines, Air Carriers (MCC Codes , 4511) or (b). Lodging-Hotels, Motels, Resorts (MCC codes , 7011) or (c). Car Rental Agencies (MCC codes , 7512, 4121) or (d) Cruise Lines (MCC code 4411) or Travel Agencies and Tour Operators (MCC codes 4722, 4416, 4417) or (e) Passenger Railways (MCC code 4112) or (f)transportation-suburban and Local Commuter Passenger, including Ferries (MCC Code 4111) or (g) Bus Lines (MCC codes 4131, 4722) or (h) Transportation Services not elsewhere classified (MCC code 4789 or (i) Real Estate Agents and Managers Rentals (MCC code 6513) or (j) Timeshares (MCC code 7012) or (k) Campgrounds and Trailer Parks (MCC Code 7033) or (l)motor Home and Recreational Vehicle Rental (MCC Code 7519) or (m) Tourist Attractions and Exhibits (MCC Code 7991, 5971) or (n) Amusement Parks, Carnivals, Circuses, Fortune Tellers (MCC Code 7996) or (o) Aquariums, Dolphinariums, Zoos, and Seaquariums (MCC Code 7998) or (p) Boat Leases and Boat Rentals (MCC Code 4457) or (q) Recreation Services-not elsewhere classified (MCC 7999). The minimum redemption value for a Travel Credit is $25. This can be comprised of a single credit that equals at least $25 or multiple individual credits that total at least $25 redeemed in one event. Purchases will be available for redemption for a Travel Credit on the Site for a period of 6 months from the posting date of the transaction and by phone for a period of 12 months from the posting date of the transaction. Redeemed Points will be deducted from your Points balance on the date you request the Travel Credit. Travel Credits will be applied to your existing balance with the highest priced Annual Percentage Rate (APR). Receipt of a Travel Credit does not affect your responsibility to pay your Total Minimum Payment shown on each Statement you receive from us. Merchandise and Gift Certificate Rewards Redeem Points for merchandise, gift cards or certificate selections at the Site or through the Redemption Center. All redemptions are final. The selection of items and the number of Points needed to obtain them may change at any time. Rewards are shipped prepaid. Returns or exchanges are only permitted for damaged or defective Rewards. The return must occur within 30 days of your receipt of merchandise rewards. We will arrange the return and pay the shipping charges for any damaged or defective Rewards. Rewards are subject to availability. Goods of equal or similar value may be substituted if the item you select is unavailable. Featured goods may not necessarily reflect exact colors or models due to printing variation and/or manufacturers' model or style updates or photo facsimile used for general representation of merchandise. Restrictions may apply to the availability of some Rewards, such as federal, state, or local regulations or minimum age requirements. Purchase protection or extended warranty coverage associated with your Card is not applicable to Rewards. Warranty, service and/or support for goods may be available to you directly from the manufacturers, not from us or the third parties. Merchandise rewards are sent to street addresses and cannot be sent to P.O. Boxes. Gift card/certificate rewards can be sent to street addresses or P.O. Boxes. Requests for delivery outside the continental U.S. or expedited delivery, if available, are subject to additional shipping charges. Complete details about shipping, including information about direct shipments from suppliers; large freight items; damaged or incomplete shipments are found at the Site and by calling the Redemption Center.

4 Gift cards are subject to specific rules set forth by the independent retailers. Use of any gift card or certificate is subject to any additional restrictions contained on or with the card or certificate. Cash Rewards You can redeem Points for a variety of Cash Rewards either at the Site or by telephoning us. A Cash Reward shall be issued for a U.S. dollar sum in the form of a check; an electronic deposit to a checking or savings account of your choice; a contribution to an eligible IRA account, 529 Plan account or Merrill Lynch Cash Management Account ; or a payment to an eligible mortgage loan. The redemption value for Points redeemed for Cash Rewards may vary and is subject to change. Current Cash Reward values and their respective Points requirements can be obtained by signing into the Site. The BankAmericard Travel Rewards credit card is separate and distinct from any accounts you may have with Bank of America and its affiliates. Approval of this credit card account does not mean that any other account will be established for you. 1. Redemption for a Check Cash Reward checks are issued only upon request of the Cardholder. The check is made payable to the one (1) individual designated by us as the Primary Cardholder, i.e., the check will not be made payable to either a joint Cardholder or an authorized user(s), if any. Each check is mailed to the Primary Cardholder's billing address via first-class U.S. mail within fourteen (14) business days of receipt of the request. Cash Reward check redemptions are final once processed. Requests for multiple checks are processed and mailed separately. Each check will be valid for ninety (90) days from its date of issue. The expiration date will appear on the check. A check that is not presented for payment before the expiration date will be void. In such cases, the Cash Reward will then be awarded as a statement credit posting to your Card within two Billing Cycles following the expiration date and will be applied to your account as a retail credit adjustment. If your Card is closed before a check is drawn, or a statement credit appears, then the Cash Reward will be forfeited (except if your Card has been reported as lost or stolen, subject to verification). Receipt of a Cash Reward check or the appearance of a statement credit does not affect your responsibility to pay your Total Minimum Payment shown on each Statement you receive from us. There is no yearly limit to the number of checks you may receive. 2. Redemption for an Electronic Deposit into a Checking or Savings Account If you redeem Points for an electronic deposit to a checking or savings account, the deposit will then be sent by us to the checking or savings account you have indicated within fifteen (15) business days. Electronic deposit redemptions are final once processed. If an electronic deposit is rejected for any reason from the date it was sent to your designated account, the deposit will be considered void and the Points used to obtain the Reward will be reinstated to your Card. If your Card is closed before the Points can be reinstated to your account, then the Cash Reward will be forfeited (except if your Card has been reported as lost or stolen, subject to verification). We cannot guarantee that your financial institution will accept an electronic transfer from us on your behalf. If an electronic transfer is refused for any reason, we will notify you via within 15 days of your request to the address designated by you at the time of your redemption. 3. Redemption for Contributions into an Eligible IRA You may redeem Points towards a contribution ( IRA Reward ) to an eligible IRA account in your name with Bank of America, N.A. or Merrill Lynch ( eligible IRA account ). Points may be redeemed in increments of 2,500 Points, beginning with 5,000 Points. Each increment of 2,500 Points will be converted into an equivalent value of $15 US Dollars. In order to take advantage of this redemption option, you must sign into the Site, select the IRA Reward option and enter the requested information in the field shown (this will include your eligible IRA account number). Your contribution will then be sent by FIA Card Services, N.A. either electronically or by check within fifteen (15) business days to the eligible IRA account you have indicated. If your contribution is rejected for any reason or does not clear within ninety (90) days from the date it was issued by FIA Card Services, N.A., your contribution will be considered void, and the Points used to obtain the IRA Reward will be reinstated to your Card account. If your Card is closed before the Points can be reinstated to your account, then the cash reward will be forfeited (except if your Card has been reported lost or stolen, subject to verification). FIA Card Services, N.A. cannot guarantee that Bank of America, N.A. or Merrill Lynch will accept contributions from FIA Card Services, N.A. on your behalf. If Merrill Lynch or Bank of America, N.A. refuses to accept a contribution for any reason, FIA Card Services, N.A. will notify you by at the address provided at the time of redemption and will reinstate the Points to your Card account.

5 Obtaining a BankAmericard Travel Rewards credit card does not establish an IRA account at either Bank of America, N.A. or Merrill Lynch, nor does it guarantee that either Bank of America, N.A. or Merrill Lynch will establish or maintain an IRA account for you. Points are not automatically redeemed for contribution to an IRA account. Points are only redeemed for contribution to an eligible IRA account upon your request and subject to the terms of the Program Rules and the agreements and terms and conditions that govern the IRA account. Points may not be redeemed for a contribution to an IRA account other than an IRA account at Bank of America, N.A. or Merrill Lynch. Points redeemed for contribution to your eligible IRA account will be treated as a contribution for the year in which the contribution is made and will be subject to the IRS contribution limits that apply to your eligible IRA account. The IRS also imposes limits on who is eligible to make contributions to an IRA account. You are solely responsible for calculating your contribution limits and your eligibility to make IRA contributions. Neither FIA Card Services, N.A., Bank of America, N.A. nor Merrill Lynch is providing you with tax advice. You should consult with your tax advisor regarding your eligibility to make contributions to an IRA account. You can find more information about IRS contribution limits and eligibility requirements for IRA accounts at We impose no limit on the number of IRA Reward redemptions you may complete each year. If an adjustment to your Points total, whether due to error, refund, credit, or other form of rescission causes you to receive more credit to your IRA account than you were otherwise entitled to, you agree you may owe FIA Card Services, N.A. the value of such excess. Questions regarding the accrual of Points and the sending of contributions to Merrill Lynch or Bank of America, N.A. will be resolved by FIA Card Services, N.A. Following the transfer of your IRA Rewards contribution from FIA Card Services, N.A. to Merrill Lynch or Bank of America, N.A., FIA Card Services, N.A. shall not be responsible or liable for the administration of this contribution or items associated with your IRA account. It is your responsibility to ensure that contributions made by FIA Card Services, N.A. to your eligible IRA account on your behalf do not violate the terms of that account. FIA Card Services, N.A. is not responsible or liable for any taxes or penalties resulting from contributions. FIA Card Services, N.A. reserves the right to change or cancel this redemption option at any time. Amounts, including IRA Rewards, contributed to the Bank of America, N.A. or Merrill Lynch eligible IRA account that are ineligible contributions or that exceed applicable annual contribution limits can result in excess contributions. Such excess contributions, if not timely corrected, may subject the account owner to IRS excise taxes. The owner of an eligible IRA account remains responsible for ensuring that excess contributions do not occur. If an excess contribution does occur, the account owner remains responsible for correcting the excess in accordance with applicable IRS requirements along with any resulting taxes and penalties. However, Merrill Lynch and Bank of America, N.A. reserve the right, but not the obligation, to reject a deposit from FIA Card Services, N.A. for redeemed points, including, but not limited to, such situations where, based on information in Bank of America, N.A. or Merrill Lynch s records, such deposit will result in an excess contribution to a tax advantaged retirement account. Establishment or ownership of a Bank of America, N.A. or Merrill Lynch IRA account (or other relationship with Bank of America, N.A. or Merrill Lynch) is not required to obtain the Card or to be eligible to use Points to obtain any Rewards offered under the Program other than IRA Rewards. 4. Redemption for Contributions to a 529 Plan Account You may redeem Points for contributions to a Merrill Lynch Section 529 Account: NextGen College Investing Plan, subject to a minimum investment amount. Points will be debited from your Points balance and a corresponding credit will be posted to your 529 Account upon redemption. No returns or refunds are allowed. Before you invest in the NextGen plan, request a NextGen College Investing Plan Program Description by calling toll-free NEXTGEN ( ) and read it carefully. The Program Description contains more complete information, including investment objectives, charges, expenses and risks of investing in the NextGen plan which you should consider carefully before investing. You should also consider whether your home state or your designated beneficiary s home state offers any state tax or other benefits that are only available for investments in such state s 529 plan. Merrill Lynch is the program manager, underwriter and distributor. The NextGen plan is a Section 529 plan administered by the Finance Authority of Maine. Investment oversight is provided by the Maine State Treasurer. 5. Redemption for Contributions to a Cash Management Account You may redeem Points for contributions to a Merrill Lynch Cash Management Account ( CMA ). To complete the redemption, you will be asked to provide your CMA Account number and your authorization to send the Cash Reward electronically

6 through the Automated Clearinghouse System (ACH). Once processed, the contribution will be deposited into your CMA Account within fourteen (14) business days of the request. Cash Rewards are considered fully redeemed once an ACH deposit has been made to your CMA Account. FIA Card Services, N.A. shall not be responsible for lost, stolen or undelivered ACH deposits: substitute ACH deposits will not be made available. Once an ACH deposit has been completed and the value of any transaction(s) forming all or part of the Cash Rewards used to obtain the ACH deposit is either refunded, credited or otherwise rescinded, we may, at our discretion, stop payment on the ACH deposit, and/or withhold subsequent Cash Rewards, or collect any amount(s) you owe, in any appropriate manner, including, but not limited to, the posting of an equivalent dollar debit in the form of a cash advance transaction to your Card. 6. Redemption for Payments on a Mortgage You may redeem Points for Cash Rewards in the form of payments on your Bank of America, N.A., first or second mortgage loan (reverse mortgages are not eligible), or to a mortgage loan that you have with a third party mortgage lender ( Mortgage Lender. ) Payments will be applied in accordance with the terms of your mortgage loan, and may be rejected in the event your mortgage is not being paid as agreed. Payment will be sent by FIA Card Services, N.A. to the mortgage account you have indicated either electronically or by check within three (3) business days of your request. If Bank of America, N.A., or the Mortgage Lender designated by you in the redemption process refuses to accept an electronic transfer for any reason, or the check does not clear within ninety (90) days from the date it was issued by FIA Card Services, N.A., the payment will be considered void, the Points used to obtain the Reward will be reinstated to your account, and we will notify you by the address which you will be requested to provide at the time of redemption. Questions regarding the accrual of Points and the sending of payments to your mortgage loan will be resolved by FIA Card Services, N.A. We are not responsible for how the payment is applied to your mortgage account and cannot control whether payments will be applied to the principal balance on your loan or any outstanding interest or loan fees. It is your responsibility to ensure that payments made by us towards your mortgage loan on your behalf do not violate the terms of your agreement with Bank of America, N.A., or the Mortgage Lender that you designate as payee during the redemption process. We are not responsible or liable for any prepayment penalties that Bank of America, N.A., or your Mortgage Lender may charge to your mortgage account. If an adjustment to your Point total for any reason causes you to receive more credit to your mortgage account than you were otherwise entitled to, you agree you may owe the value of such excess to us. We have the right to reduce your Points accordingly, withhold any subsequent Points and/or credits to your mortgage account, and/or collect any amount(s) you owe, in any appropriate manner, including, but not limited to the posting of an equivalent debit in the form of a cash advance transaction to the Card. Charitable Donations Redeem Points for a variety of charitable donations either at the Site or by telephoning the Redemption Center. If you elect to have funds directed to a charitable organization please consult your tax advisor as to whether this qualifies as a charitable contribution. This credit card program is issued and administered by FIA Card Services, N.A. BankAmericard Travel Rewards is a trademark and Cash Management Account, CMA, Merrill Edge, Merrill Lynch, Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation Bank of America Corporation (2/2012)