Terms of Rewards
Fold Card Addendum

Last Updated: October 30, 2020

Definitions:

  • All Fold Visa Prepaid Debit Cardholders are eligible to participate in the Fold App Rewards Program.
  • This Addendum (the “Addendum”) is a part of the Fold App Rewards Program, and are bound by the Terms of the Rewards Program (the “Rewards Terms”).  In the event of a conflict between the terms contained in this Addendum and the Rewards Terms, this Addendum shall apply.
  • Fold Visa Prepaid Debit Cardholders, by opting into this Addendum, are eligible to receive Rewards (“Rewards”) on Qualifying Events (as defined below), which include Qualifying Purchases (as defined below) associated with their Fold Visa Prepaid Debit Card.
  • “Account” means a Fold Visa Prepaid Debit Card Account.
  • If you participate in the Fold App Rewards Program for your Account, you accept the terms of this Rewards Addendum (“Addendum”):

Qualifying:

The Rewards Program applies when you have a Qualifying Event in your Account and you meet these requirements: Your Account is: 1) open, 2) active, and 3) you have agreed to and are in compliance with the Rewards Terms.  You earn Rewards at the time of the Qualifying Event.  Rewards are redeemable by you as outlined in the Rewards Terms. Unless otherwise specified, rewards are typically applied to your Account promptly after your Qualifying Event, but cannot be redeemed or withdrawn for 30 days.  Rewards will be reduced by chargebacks, returns, and adjustments. Rewards are denominated in bitcoin.  

Cardholder Benefits:

The Rewards Program provides you with Rewards on the following Qualifying Events:

Intro Tier

Premium Tier

Sign-up Bonus: You are eligible to receive the Sign-up Bonus, at the conversion rate in effect on the day you register your card.  During the first year after registering for your physical card, one-twelfth of the Sign-up Bonus will be earned each month you have at least $500 of deposits.  In a month where your aggregated deposits are less than $500, as reflected in your available balance on the last day of the month, one-twelfth of the Sign-up Bonus is forfeited.

$0

$50

Spinwheel Bonus: The "Average Reward Rate" is calculated at the beginning of each sweepstakes period by dividing the expected value of earnable Rewards on Qualifying Purchases by all cardholders by the expected value of Qualifying Purchases by all cardholders.

The actual reward rate you earn may vary from the Average Reward Rate listed. Your actual Rewards will vary, depending on several factors, including (i) events that are in your control, such as the frequency with which you spin the wheel, (ii) events outside of your control, such as what Rewards you win, (iii) how much your actions align with a prize when won, such as the amount of your deposits if you win the 2x Deposit Bonus, and (iv) events outside of our control, such as the price of bitcoin at the time the reward is won.

In the event the Average Reward Rate is higher than the rate posted here, we will not notify you or update these Terms.

Qualifying Purchases are signature credit purchases, PIN debit purchases, or outgoing ACH payments or transfers to a third party. Qualifying Purchases do not include any other payment or transfer, including incoming transactions, peer-to-peer transactions, outgoing transactions where you are the receiving party, ATM transactions, fees, chargebacks, adjustments, or wire transfers.

Upon a Qualifying Purchase, you should receive a push notification from mobile App (if you have opted in to receiving such alerts). Within five minutes of the authorization of the Qualifying Purchase, you must click a button to enter into a monthly Intro Tier Spin Wheel Sweepstakes or Premium Tier Spin Wheel Sweepstakes, as applicable.  No Purchase Necessary.  For Full terms and conditions, see the current Terms of Spinwheel Sweepstakes - Intro Tier and Terms of Spinwheel Sweepstakes - Premium Tier.

Rewards are paid as bitcoin rewards in our Rewards program. For more information, see the terms of our Rewards Program.

Your Rewards will initially be calculated based on the authorized amount of a given transaction.  However, the total Rewards will be calculated off the final, settled amount of a transaction, not the authorized amount.  Your rewards will be further adjusted by any chargebacks, refunds, adjustments on the Qualifying Purchase, if applicable.

You are not guaranteed any Rewards. We expect to update the Spinwheel Bonus, including the prizes included and the odds of winning the prizes, frequently.  Fold reserves the right to change the Average Reward Rate, the current sweepstakes Terms and Conditions, including the prizes, or to terminate the Spinwheel Sweepstakes in its entirety, at any time.

1%
Average Reward Rate

3%
Average Reward Rate

Annual High Yield Rewards: Within 30 days of each anniversary of the account, assuming you have paid all annual fees and/or you have an active account, as applicable, you will receive an additional Rewards equal to the High Yield Rewards Rate listed here multiplied by the amount of Rewards earned during the prior twelve month period that have not been withdrawn from your Rewards Account.

2%

10%

Access to Fold+ Member Pricing for Gift Cards. Fold+ Membership provides access to Fold’s best discounts on gift cards sold in the Fold Discount Marketplace.  The Fold+ Membership, including the discounts available on gift cards and the gift cards offered, is subject to change.   See the Fold+ Membership Terms and Conditions for more details.

Yes

Yes

Fold+ Member Pricing Boost on Amazon Gift Cards.  For Rewards on Amazon.com gift cards purchased in the Fold App. Limit $250 per month for Intro Tier cardholders and $500 per month for Premium Tier cardholders, as part of the Fold+ Membership. Thereafter, cardholders receive the Fold+ Rewards rate on Amazon.com gift cards. Brands and limits subject to change. See the Fold+ Membership Terms and Conditions for more details.

5%
up to $250 per Month

5%
up to $500 per Month

Rewards Redemption:

Rewards as reflected in the Fold Rewards Account may only be withdrawn when available to a bitcoin wallet owned by you but cannot be redeemed for cash or otherwise exchanged for value.

Removal from or Modification/Termination of Rewards Program:

We reserve the right to remove any person from the Rewards Program in the event of any fraud or abuse as determined in our sole discretion in connection with this Program. We reserve the right to change or terminate the Rewards Program at any time and in any manner without notice, and without refund to you of any annual, monthly, activation, or other fees.  

NO WARRANTY:

FOLD, INC., AND ITS RESPECTIVE AFFILIATE ENTITIES, ALONG WITH EACH SUCH COMPANY’S RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS MAKE NO WARRANTY, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE REWARDS PROGRAM OR ANY PRODUCTS OR SERVICES RELATED TO SUCH PROGRAM.

RELEASE OF LIABILITY:

YOU RELEASE FOLD, INC., AND ITS AFFILIATE ENTITIES, ALONG WITH EACH SUCH COMPANY’S RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AND AGENTS FROM AND AGAINST ANY AND ALL LIABILITY RELATING TO YOUR MEMBERSHIP OR PARTICIPATION IN THE REWARDS PROGRAM, THE ADDENDUM, OR THE REWARDS TERMS.

Complete Agreement:

These Addendum, together with the Rewards Terms, and the Fold Card Terms of Service, and the Agreements referenced herein and therein, make up the entire agreement between us relating to the Rewards Program, and replace any prior understandings or agreements (whether oral or written) regarding the Rewards Program. The Rewards Program is provided by Fold, Inc.