Cashback Rewards Terms

These Aspire Cashback Rewards Terms (“Rewards Terms'') are incorporated into and made a part of the Aspire Terms of Service between you and Aspire. These Rewards Terms govern your participation in the Cashback Rewards Program and describe how you may qualify for, earn, redeem, retain, and/or forfeit Rewards. By opening and maintaining an Aspire DDA Account and Aspire Secured Commercial Charge Card  in good standing, you are automatically enrolled in the Rewards Program. Capitalized terms used in these Rewards Terms have the meanings provided in Section 5 below or the Aspire Terms of Service. In the event of any conflict relating to the Rewards Program between these Rewards Terms and any other terms, agreements, or policies set forth in the  Aspire Terms of Service, these Rewards Terms shall govern.

Aspire may update these Rewards Terms with or without notice to you by posting an updated version of these Rewards Terms at any time. Rewards are subject to changes, including elimination, at any time. Continued participation in the Rewards Program, which is reflected by continued use of the Aspire Secured Charge Card and Aspire DDA Account, after any change, constitutes your agreement to be bound by any such changes. Some Rewards may have additional terms and conditions.

You may participate in the Rewards Program only if you accept all of these Rewards Terms. If you no longer wish to participate in the Rewards Program, you may close your Aspire DDA Account or contact Aspire at support@aspireapp.com to request to be removed from the Rewards Program.

1. Eligibility Criteria

1.1 Eligibility for The Rewards Program

To be eligible for the Rewards Program, your Aspire DDA Account and Aspire Secured Commercial Charge Card must be open and in good standing.  If your Aspire DDA Account is not in good standing for any reason, or we determine in our sole discretion that you are abusing or misusing the Rewards Program or have otherwise violated our Aspire Terms of Service or any of the terms, agreements, and policies of Aspire, you will no longer be eligible for the Rewards Program. We may condition, restrict, limit, or revoke Rewards in our sole discretion.

1.2 Earning Rewards

The Rewards Program allows you to accrue Rewards when you make a Qualified Spend on a card. For each Qualified Spend you make, you accrue cash back rewards at a rate of 1.5%, (“Cashback”). Rewards may only be available in connection with Aspire Card purchases and not any other product or service offered by Aspire. 

1.3 Qualifying Spend

‘Qualifying Spend’ means all transactions on Aspire Secured Charge Cards, excluding ineligible transactions.

Ineligible transactions include:

• ATM withdrawals
• Wire transfers
• Purchases from merchants that offer money transfer services, digital payments (e.g. Venmo, PayPal), prepaid cards and cash equivalents, and/or quasi-cash
• Refunds and chargebacks
• Payments to financial institutions, crypto exchanges, or other currency exchange service providers
• Gambling-related transactions
• Transactions with Walmart Inc., and its affiliates and subsidiaries (including Sam’s Club)
• Payments to utility companies or other utilities-related purchases  
• Peer-to-Peer (P2P) payments (such as Apple Pay Cash)
• Transactions that become subject to chargebacks
• Refunded transactions or items returned for credit
• Spend at non-US merchants

We may determine that a transaction type, or a particular transaction, is excluded from eligibility for earning Cashback in our sole discretion at any time.

You will not earn Rewards for any transaction which is still Due or Overdue. Rewards may only be earned upon payment in full of amounts owed to Aspire.

For any transaction that does not qualify as a Qualifying Spend but for which you have already received Rewards, or if we otherwise awarded you Rewards in error, we may offset such Rewards using your remaining or future Rewards balance.

1.4 Rewards Received

You are responsible for making sure the Rewards reflected in your Aspire DDA Account are correct. If you believe that your earned Rewards are not reflected accurately, please contact Aspire’s customer support team at rewards@aspireapp.com. You must notify us of any errors or discrepancies within 60 days of such information being made available to you, i.e., reflected on your Aspire DDA Account balance. If you do not notify us of any such errors within 60 days, you forfeit the right to contest your Rewards earned, except to the extent such forfeiture is prohibited by applicable law.

If you voluntarily close your Aspire DDA Account or your Aspire Secured Commercial Charge Card, you will no longer be able to earn any Rewards on any transactions. If your Aspire DDA Account is suspended or closed for any reason, you will not earn any Rewards until your Aspire DDA Account is restored to good standing under the Aspire Terms of Service and these Reward Terms. If your Aspire DDA Account is suspended and reopened after such suspension is cleared, you will continue earning Rewards and you will be entitled to previously accrued Rewards.

Rewards are not transferable to any third party or any other Aspire account, including any other Aspire customer, and cannot be transferred by operation of law. 

2. Using Rewards

2.1 Redeeming Rewards

Your Rewards earned from Qualifying Spend will typically be credited in one lump sum, within the 6th business day of the month, for completed card spend during the preceding month. For example, Rewards earned in February will typically be credited in one payment in the first week of March. 

All Reward payments will be credited to your Aspire DDA Account.

Any refunds or returns will be deducted from the Rewards amount in the subsequent cycle.

2.2 Taxes

We understand that Rewards may qualify as taxable income for you. You are solely responsible for determining and obtaining appropriate tax treatment for any Rewards you redeem. You are solely responsible for any tax liability arising from or related to any earned Rewards. Aspire will not report any income or earnings related to Cashback Rewards to a taxing authority, except where expressly required by law.

3. Losing Rewards

3.1 Closing Your Account

If your Aspire DDA Account is voluntarily closed and your Rewards have not been provided to your account yet, or your Rewards are not redeemed against the outstanding balance in your Aspire DDA Account, or any other Rewards have not been redeemed, you will lose any remaining Rewards.

3.2 Forfeiting Your Rewards

If your Aspire DDA Account is suspended or closed for any other reason, your Rewards may be lost or forfeited, subject to Aspire’s sole discretion.

You may be disqualified from participating in the Rewards Program if at any time:

• you have not repaid amounts due by the due date;
• you have been deemed in Aspire’s discretion to abuse the Rewards Program or breach any other agreements with Aspire;
• we have reasonable grounds to believe that you or an Authorized User(s) on your account have engaged in any fraud or material abuse of this Program;
• you engage in self-dealing; or
• you attempt to or otherwise game or misuse the Cashback Rewards Program.

Where we determine, in our sole discretion, that you or any Authorized Users no longer satisfy the requirements for participation in the Cashback Rewards Program, we may disqualify you from the Cashback Rewards Program, and you may lose or forfeit any Rewards that you may have earned.

We may reinstate any lost or forfeited Rewards in our sole discretion, and we may require a fee or other conditions to do so.

4. Miscellaneous

4.1 Termination of the Cashback Rewards Program

Aspire may terminate the Cashback Rewards Program at any time. If the Aspire Terms of Service are terminated, these Rewards Terms will also immediately terminate.

4.2 Release of Liability

To the maximum extent permitted by law, you agree to release Aspire from all liability for your participation in the Rewards Program. You further agree to release Aspire from liability for third party claims in accordance with these Rewards Terms. 

4.3 Severability and Survival

If any provision of these Rewards Terms is found to be invalid, unlawful, void, or unenforceable, the Rewards Terms’ remaining provisions shall be enforced to the fullest extent possible, and the remaining provisions of these Rewards Terms shall remain in full force and effect.

4.4 Waiver

You agree that if Aspire does not enforce any of its legal rights or remedies under these Rewards Terms, or any other legal rights or remedies Aspire has under applicable laws, it shall not be construed as a waiver of those rights or remedies or any other rights in any way whatsoever.

4.5 Assignment

These Rewards Terms will be binding on, inure to the benefit of, and be enforceable against the parties and their respective successors and assigns. Neither the course of conduct between parties nor trade practice shall act to modify any provision of the Rewards Terms. You may not assign or transfer these Rewards Terms or your rights hereunder, in whole or in part, by operation of law or otherwise, without our prior written consent. We may assign these Rewards Terms or any of our rights or obligations under these Rewards Terms at any time without notice.

4.6 No Issuing Bank Involvement

You understand and agree that these Rewards Terms are solely between you and Aspire and that the Cashback Rewards Program is offered and administered by Aspire and not any other third party, including the issuing bank of the Aspire Secured Commercial Card. You understand and agree that any and all disputes related to the Cashback Rewards Program or any Losses associated with your participation in the Cashback Rewards Program are to be resolved between you and Aspire, and not the issuing bank of the Aspire Secured Commercial Card.  

5. Definitions 

Capitalized terms used but not defined here shall have the same meaning as those given in the DDA Account terms.

“Qualifying Spend” means a bona-fide business-related purchase of goods or services made by you or any Authorized User that meets the requirements in these Rewards Terms, including Section 1.3, and Aspire Terms of Service.

“Rewards” means Cashback, and any other benefits offered or conferred by Aspire through its Cashback Rewards Program.

“Rewards Program” means the program made available by Aspire to you under these Cashback Rewards Terms.