Rewards Program Terms
Base Rewards Rate. All qualifying Fold Bitcoin Credit Card purchase transactions earn a flat base reward rate of 1.5% in bitcoin (the “Base Rewards Rate”). There is no cap on Base Rewards. The Base Rewards Rate is not subject to Fold+ Membership tier distinctions. For each qualifying purchase transaction, Fold calculates the reward amount in U.S. dollars at the time of authorization and converts it to bitcoin using the exchange rate at the time of authorization. The resulting bitcoin reward amount is credited to your Rewards Account as a pending reward upon authorization. Upon settlement of the transaction, the reward is marked as settled and enters a thirty (30) day withdrawal lock period. If the transaction fails, is reversed, or is not settled, the pending reward is cancelled.
Tier Bonus Rewards. You may earn additional bonus rewards above the Base Rewards Rate (the “Tier Bonus”) based on your qualifying Auto-Stack! and/or Direct to Bitcoin activity during each calendar month. The Tier Bonus applies to the lesser of: (a) your total qualifying Fold Bitcoin Credit Card purchase spend during the calendar month, and (b) Two Thousand Dollars USD ($2,000). The Tier Bonus is calculated as the difference between your applicable Tier Rate and the Base Rewards Rate (1.5%), multiplied by your eligible spend as described above. The applicable Tier Rate is determined by your cumulative Auto-Stack! and/or Direct to Bitcoin spend during the calendar month as follows: $500 qualifying spend = 1.60% Tier Rate; $1,500 = 1.75%; $3,000 = 2.00%; $6,000 = 2.50%; $9,000 = 3.00%; $12,000 = 3.50%.
Fold reserves the right to modify these tier thresholds and rates at any time with notice through the Fold App or these Terms. The Tier Bonus reward is calculated in U.S. dollars and converted to bitcoin using the exchange rate at the time of the bonus payout. The Tier Bonus is deposited as a single lump-sum reward to your Rewards Account at the end of each calendar month and is subject to the thirty (30) day withdrawal lock period.
Statement Payoff Bonus. You may earn an additional 0.5% bitcoin reward (the “Statement Payoff Bonus”) when you pay your Fold Bitcoin Credit Card statement balance by liquidating bitcoin held in your Fold account. The Statement Payoff Bonus applies to the full payment amount funded by a direct bitcoin sale, with no cap. The Statement Payoff Bonus is not available for payments made via U.S. dollar balance, ACH transfer, or any other non-bitcoin payment method. When you elect to pay your statement in bitcoin, you authorize Fold to execute a spot sale of the required bitcoin amount (including any applicable exchange rate spread or transaction fee) from your Fold account, apply the U.S. dollar proceeds to your Fold Bitcoin Credit Card balance, and credit the Statement Payoff Bonus to your Rewards Account. You acknowledge that paying your statement in bitcoin constitutes a taxable disposition of bitcoin for federal, state, and local tax purposes, and you are solely responsible for any tax obligations arising therefrom. If your available bitcoin balance is insufficient to cover the statement amount plus applicable fees, the transaction will not be processed. The Statement Payoff Bonus is subject to the thirty (30) day withdrawal lock period.
Reward States and Withdrawal Availability. Fold Bitcoin Credit Card rewards progress through the following states: (a) Pending: calculated at authorization, visible in your transaction and rewards history, not withdrawable; (b) Locked: the underlying transaction has settled but the reward is subject to a thirty (30) day withdrawal lock to allow for disputes, chargebacks, or merchant credits; (c) Finalized: the withdrawal lock period has expired and the reward is available for withdrawal; and (d) Cancelled: the underlying transaction was reversed, refunded, or disputed, and the associated reward has been cancelled or clawed back. Cancelled and clawed-back rewards remain visible in your rewards history for transparency. You may withdraw Finalized rewards in accordance with the redemption and withdrawal procedures set forth in the Rewards Program section of these Terms.
Clawbacks, Adjustments, and Negative Balances. If a qualifying Fold Bitcoin Credit Card transaction is returned, reversed, disputed, or charged back, the associated reward is cancelled (if still in Pendingstatus) or clawed back from your Rewards Account (if in Locked or Finalized status). Clawbacks are deducted directly from your current rewards balance. If your rewards balance is insufficient to cover a clawback (including if your balance is zero), your rewards balance may go negative. A negative rewards balance will be offset by future earned rewards until the balance is restored to zero or above. Tier Bonus Rewards that have already been paid are not retroactively clawed back if a subsequent refund or reversal reduces your net monthly Fold Bitcoin Credit Card spend below Two Thousand Dollars USD ($2,000) after the Tier Bonus has been deposited. All reward adjustments, cancellations, and clawbacks are recorded as balance changes in your rewards ledger.
Gift Card Transactions. Fold Bitcoin Credit Card purchases of Gift Cards through the Fold App earn either the advertised merchant gift card reward rate or the Base Rewards Rate, whichever applies, but not both. Rewards will not be applied on a cumulative or “double-dip” basis for Gift Card purchases.
Modification of Credit Card Rewards. Fold reserves the right to modify the Base Rewards Rate, Tier Bonus thresholds and rates, Statement Payoff Bonus rate, withdrawal lock periods, reward states, and any other aspect of the Fold Bitcoin Credit Card rewards structure at any time in its sole discretion.
Changes will be communicated through the Fold App, by email, or by updating these Terms.
