Fold Bitcoin Credit Card Rewards Program Terms

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 at the Prevailing Market Rate at the time of payout, less any applicable fees. 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 withdrawal lock period described in the “Reward States and Withdrawal Availability” section below.

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Your app dashboard may display an estimated or projected Rewards percentage based on your activity to date. Any such display is an estimate only and is not a guarantee of a Tier Bonus, percentage, or payout amount. Fold will calculate the Tier Bonus (if any) based on eligible activity that successfully completes and is not reversed, refunded, returned, canceled, charged back, or otherwise adjusted, as determined by Fold. Fold may exclude activity that is pending, subject to a hold, under review, or associated with suspected fraud, error, or a violation of Fold’s terms. Fold will deposit the Tier Bonus Reward no later than thirty (30) days after month-end. You must maintain your Fold Program Accounts in Good Standing and satisfy applicable identity-verification requirements at the time of payout to receive any Tier Bonus Reward, and Fold may delay or withhold payout as necessary to comply with law or Fold policies.

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Pay-in Bitcoin Bonus

You may earn an additional 0.5% bitcoin reward (the “Pay-in Bitcoin Bonus”) when you pay your Fold Bitcoin Credit Card statement balance by liquidating bitcoin held in your Fold account. The Pay-in Bitcoin Bonus applies to the full payment amount funded by a direct bitcoin sale, with no cap. The Pay-in Bitcoin Bonus is not available for payments made via U.S. dollar balance, ACH transfer, or any other non-bitcoin payment method.

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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 Pay-in Bitcoin 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 Pay-in Bitcoin Bonus is subject to the withdrawal lock period described in the “Reward States and Withdrawal Availability” section below.

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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 period to allow for disputes, chargebacks, or merchant credits; (c) Finalized: The withdrawal lock period has expired and the reward is available for withdrawal; (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.

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Clawbacks, Adjustments, and Negative Balances

If a Qualifying Purchase Transaction is returned, reversed, disputed, or charged back, the associated reward is cancelled (if still in Pending status) 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, and any negative 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. Rewards may be reduced, forfeited, adjusted, or clawed back if your Fold Bitcoin Credit Card account is not in Good Standing or if transactions are returned, reversed, or otherwise invalidated. Rewards do not reduce your obligation to make the minimum monthly payment required under your Credit Cardholder Agreement. Fold Bitcoin Credit Card rewards do not require a Fold+ Membership and are not subject to Fold+ tier distinctions.

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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.

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When Rewards Are Credited; Posting Date; Delays

Rewards are earned only after a Qualifying Purchase Transaction posts to your Card Account (the “Posting Date”). Transactions that are authorized or pending, but not posted, do not earn Rewards. Fold calculates Rewards using the final settled amount of the transaction, including sales tax and net of credits and adjustments, and will credit Rewards to your Rewards balance no later than thirty (30) days after the Posting Date. Where the posted amount differs from the amount initially authorized (including, for example, certain transactions at gas stations, hotels, or car-rental agencies), Rewards are based on the final posted amount.

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The crediting of Rewards, and the transfer of bitcoin when you convert Rewards to bitcoin, may be delayed for reasons described in the Fold Terms, including scheduled maintenance, unscheduled downtime, congestion, systems issues, mechanical or electronic malfunction, processing errors, or other circumstances that prevent timely processing. Fold may impose minimum thresholds for withdrawals or conversions from time to time in its sole discretion and as stated in the Fold Terms. Once the issue causing a delay is resolved, Fold will complete the credit or transfer within a reasonable period.

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Eligibility and Enrollment

To participate, you must maintain an active Fold account (your “Fold Account”) established under the Fold Terms and an active Card account (your “Card Account”) established under the Cardholder Agreement. Your Fold Account and Card Account are collectively your “Fold Program Accounts.” Before you may withdraw Rewards or otherwise transact in your Fold Program Accounts, you must satisfy all identity-verification requirements described in the Fold Terms. If the Bank approves your application for the Card, your Card Account is automatically enrolled in the Rewards Program. Enrollment continues only while your Fold Program Accounts remain in “Good Standing.” For purposes of these Rewards Program Terms, “Good Standing” means: (i) your Card Account and your right to use the Card have not been suspended, revoked, closed, canceled, or terminated, and your Card Account is not otherwise in default, in each case as described in the Cardholder Agreement; and (ii) your Fold Account has not been closed, suspended, or terminated, as described in the Fold Terms.

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If either of your Fold Program Accounts is not in Good Standing, Fold may suspend Card transactions, close one or both Fold Program Accounts, and you will be ineligible to earn or receive Rewards; any redemption of Rewards (if permitted) will be governed by the Fold Terms. If any of your Fold Program Accounts is closed by you, by Fold, by Stripe, or by the Bank, you will forfeit any Rewards that have not been credited and you will no longer be eligible to participate in the Rewards Program.

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Non-Transferability; Inactivity; Forfeiture; Compliance and Taxes

Rewards are personal to the Cardholder, are not property, and may not be sold, assigned, pledged, or transferred. Rewards that remain unredeemed for twelve (12) consecutive months of account inactivity, or that remain outstanding when your Fold Program Accounts are closed or the Rewards Program terminates, are forfeitable. Fold will provide notice consistent with applicable law before Rewards are modified, cancelled, closed, or terminated. You are responsible for any federal, state, or local tax consequences arising from earning, receiving, converting, or using Rewards. Fold may deduct on-chain network fees from bitcoin delivered when Rewards are converted to bitcoin, may delay or decline any conversion or transfer when necessary to comply with law, regulation, court order, sanctions, or Fold’s BSA/AML or other compliance policies, and may impose program-wide or account-specific earning caps or limits at any time. Fold’s determinations regarding eligibility, Rewards calculations, posting, adjustments, charges, corrections, balances, and compliance matters are final and binding, subject to applicable law.

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Adjustments, Rewards Charges, and Corrections

If a posted Qualifying Purchase Transaction is later reduced, reversed, refunded, returned, or disputed, Fold may deduct the related Rewards from future Rewards accruals (a “Rewards Adjustment”). If the posted amount exceeds the initial authorization, Fold may credit incremental Rewards corresponding to the difference (a “Positive Rewards Adjustment”). If a Rewards Adjustment remains outstanding for thirty (30) days, or if a Rewards Adjustment exists at the time your Card Account is closed, Fold may cause the outstanding amount to be debited to your Card Account (a “Rewards Charge”), which will appear on your Card statement and will be due with your next minimum payment. If Fold credits Rewards in excess of what you are entitled to receive for any reason, Fold may reverse or recover the excess through an offset, a charge to your Card Account (a “Rewards Correction”), or other lawful means. Rewards Adjustments, Positive Rewards Adjustments, Rewards Charges, and Rewards Corrections may apply and remain enforceable after your Fold Program Accounts are closed.

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Suspension, Termination, and Misuse

“Misuse” of the Rewards Program includes fraudulent or suspicious activity, abusive or gaming behavior, or any violation of the Cardholder Agreement, these Rewards Program Terms, or the Fold Terms. If Fold or the Bank determines (in their reasonable discretion) that misuse occurred, they may forfeit some or all Rewards, suspend or terminate your ability to earn or redeem Rewards, and/or suspend, terminate, or close one or both of your Fold Program Accounts. If your Fold Program Accounts remain in Good Standing but Rewards privileges are suspended or terminated, Fold may provide notice through the Fold application or another reasonable channel. In other situations, Fold or the Bank may provide notice (and, if permitted by law, a reason) but are not required to do so.

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Your Fold Account, and any bitcoin credited to it, remains subject at all times to the Fold Terms, and your participation in the Rewards Program ends automatically when either of your Fold Program Accounts is closed. Transactions made with a lost, canceled, stolen, or fraudulent Card do not qualify for Rewards. If Rewards are credited on such a transaction, Fold may treat the credited amount as a Rewards Adjustment, Rewards Charge, or Rewards Correction.

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Rewards may also be unavailable or forfeited for transactions occurring after: (i) you file for bankruptcy; (ii) you or Fold closes either Fold Program Account; (iii) you fail to comply with the Cardholder Agreement, these Rewards Program Terms, or the Fold Terms; (iv) Fold believes you engaged in fraud relating to your Fold Program Accounts or the Rewards Program; or (v) you are otherwise disqualified under these Rewards Program Terms. Fold may also choose not to award Rewards during any period in which your Card Account is delinquent or otherwise not in Good Standing, unless Fold decides otherwise in its sole discretion.

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Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, NEITHER FOLD NOR OUR AFFILIATES, NOR OUR OR THEIR DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, PARTNERS, SUPPLIERS, CONTENT PROVIDERS, PAYMENT CARD NETWORKS, OR PAYMENT PROCESSORS, NOR THE BANK, WILL BE LIABLE (WHETHER IN CONTRACT, TORT, STRICT LIABILITY, NEGLIGENCE, OR ANY OTHER LEGAL OR EQUITABLE THEORY) FOR: (I) LOST PROFITS, LOST DATA, OR THE COST OF SUBSTITUTE GOODS OR SERVICES, OR ANY SPECIAL, INDIRECT, INCIDENTAL, PUNITIVE, EXEMPLARY, COMPENSATORY, OR CONSEQUENTIAL DAMAGES; (II) BUGS, VIRUSES, TROJAN HORSES, OR SIMILAR HARMFUL CODE, REGARDLESS OF SOURCE; OR (III) ANY DIRECT DAMAGES IN EXCESS OF (IN THE AGGREGATE) THE VALUE OF THE REWARDS YOU CLAIM WERE LOST AND THAT WERE IN FOLD’S CUSTODY AT THE TIME OF THE ALLEGED LOSS. YOU ALSO AGREE THAT FOLD AND THE OTHER PARTIES IDENTIFIED ABOVE WILL NOT BE LIABLE FOR REASONABLE DELAYS OR SERVICE INTERRUPTIONS AFFECTING THE CREDITING, TRANSFER, OR CONVERSION OF REWARDS, INCLUDING DELAYS CAUSED BY AUTOMATED OR OTHER COMPLIANCE REVIEWS, OR OTHER INTERRUPTIONS OUTSIDE FOLD’S OR ITS SERVICE PROVIDERS’ CONTROL. FOR PURPOSES OF THIS PARAGRAPH, A “REASONABLE“ INTERRUPTION INCLUDES ANY DELAY OR INTERRUPTION SHORTER THAN ONE WEEK.

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No Warranties

THE REWARDS PROGRAM, REWARDS, AND ALL RELATED CONTENT ARE PROVIDED “AS IS“ AND “AS AVAILABLE,” WITHOUT WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING IMPLIED WARRANTIES OF TITLE, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE OF TRADE, ALL OF WHICH ARE DISCLAIMED. WITHOUT LIMITING THE FOREGOING, FOLD AND THE OTHER PARTIES IDENTIFIED ABOVE DO NOT WARRANT THAT THE REWARDS PROGRAM OR CONTENT WILL BE TIMELY, ACCURATE, COMPLETE, RELIABLE, SECURE, OR AVAILABLE AT ANY PARTICULAR TIME OR LOCATION, THAT DEFECTS WILL BE CORRECTED, THAT CONTENT WILL BE FREE OF HARMFUL COMPONENTS, OR THAT PARTICIPATION WILL MEET YOUR REQUIREMENTS. YOU PARTICIPATE AT YOUR OWN RISK.

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Monitoring; Reporting Problems

You are responsible for reviewing your Rewards balance, Card Account activity, and billing statements regularly. If you believe Rewards were not credited, were miscalculated, or otherwise reflect an error, you must notify Fold within sixty (60) days after the date of the first billing statement on which the alleged error appears. After that period, the Rewards reflected on that statement will be considered accurate, though Fold may still apply a Rewards Adjustment, Rewards Charge, or Rewards Correction as permitted by these Rewards Program Terms. To report a potential Rewards error, you may call Fold at 1-866-365-3277 or write to Fold, Inc., 2942 North 24th Street, Suite 115, #42035, Phoenix, Arizona 85016. Fold may request documentation (including receipts or invoices) to investigate. If your records differ from Fold’s or the Bank’s records, Fold’s and the Bank’s records will control. Subject to applicable law, your sole remedy for an eligible Rewards crediting error is the crediting of the correct amount of Rewards, valued at bitcoin’s market price at the time the correction is issued, or a substantially similar benefit determined by Fold in its discretion. Neither Fold nor the Bank (nor their affiliates) will have any additional liability to you for such errors.

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Miscellaneous

These Rewards Program Terms, together with the Incorporated Terms, constitute the complete and exclusive agreement between you and Fold regarding the Rewards Program and supersede all prior or contemporaneous descriptions, communications, or understandings relating to the Rewards Program. Fold administers the Rewards Program in its sole discretion and may modify, limit, suspend, discontinue, or terminate any aspect of the Rewards Program or these Rewards Program Terms at any time and for any reason, with or without notice, to the extent permitted by applicable law. Unless applicable law requires otherwise, any changes are effective when posted at www.foldapp.com, and your continued use of your Card or any account maintained with Fold after the effective date constitutes acceptance, with no individualized notice required except as mandated by law. Fold may terminate the Rewards Program at any time, for any reason, with or without notice, and the Rewards Program will automatically terminate, without notice, if Fold permanently ceases operations.

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Any controversy, dispute, or claim arising out of or relating to these Rewards Program Terms or the Rewards Program will be resolved exclusively in accordance with the Arbitration Clause set forth in Schedule A to the Cardholder Agreement, which is incorporated into these Rewards Program Terms by reference. You are responsible for reviewing updates. If you have questions regarding Rewards or the Rewards Program, you may call 1-866-365-3277 or write to Fold, Inc., 2942 North 24th Street, Suite 115, #42035, Phoenix, Arizona 85016.

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You acknowledge and agree that Fold may collect, use, and disclose your personal information in accordance with Fold’s Privacy Policy, which is incorporated into these Rewards Program Terms by reference. The Fold Terms and the Cardholder Agreement are separate agreements from these Rewards Program Terms. These Rewards Program Terms govern all matters relating to the Fold Bitcoin Credit Card Rewards Program. In the event of a direct conflict between these Rewards Program Terms and the Fold Terms and Conditions, these Rewards Program Terms control with respect to any matter relating to the Rewards Program associated with the Fold Bitcoin Credit Card, unless the Fold Terms expressly state that they supersede these Rewards Program Terms for a specific matter. The Cardholder Agreement controls over both these Rewards Program Terms and the Fold Terms with respect to all credit account matters.

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Fold’s decision not to enforce a right or to delay enforcement does not waive that right. Any waiver must be explicit, and a waiver on one occasion does not operate as a waiver on any other occasion. You agree to defend, indemnify, and hold harmless Fold, its affiliates, the Bank, and each of their respective directors, officers, employees, contractors, agents, service providers, and suppliers from and against any and all claims, demands, losses, damages, liabilities, costs, and expenses (including reasonable attorneys’ fees) arising out of or relating to: (a) your participation in the Rewards Program; (b) any misuse of, or fraudulent activity involving, the Rewards Program; (c) your violation of these Rewards Program Terms; (d) your infringement or alleged infringement of any intellectual property or other proprietary rights; or (e) your violation of applicable law or the rights of any third party. Fold may, at its option, assume exclusive control of the defense and settlement of any matter subject to indemnification, in which case you agree to reasonably cooperate with such defense at your expense.

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If you are a California resident, you expressly waive California Civil Code Section 1542, which provides: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”