Common use of Rebate Program Clause in Contracts

Rebate Program. VISA Platinum Rewards credit card only. You may earn a 1% cash rebate on your account if you meet the following requirements: Cash Rebate on Net Purchases. You may earn a 1% cash rebate on net purchases (purchases less returns for credit) made during the rebate period in which the net purchases posted to your account. The cash rebate will be calculated on cumulative net purchases, not including any balance transfers or cash advances, posted to your account for the prior rebate period. To illustrate, let us assume during the first rebate period of the year (January –March) your total net purchases equal $3500. In this example, we would multiply $3500 by 1% which would equal a cash rebate of $35. There are four rebate periods in each calendar year. January 1 through March 31, April 1 through June 30, July 1 through September 30, and October 1 through December 31. The cash rebate for the prior rebate period will be credited to your checking or savings account by the 15th day of the month following the end of the prior rebate period. Your account must remain open and in good standing order to receive the cash rebate. If at any time your account is assessed a late fee, is closed or is in default, you will forfeit all cash rebates accrued through the calendar quarter in which your account was closed, or the delinquency or default occurred. The terms and conditions of this rebate program may be changed or cancelled at any time and for any reason without notice.