P S E C U   V I S A ®   F O U N D E R ’ S   C A R D  

The  Rewards  Program  (the  “Program”)  is  offered  in  connection  with  PSECU’s  Visa®  Founder’s  Card  (the  “Card 
Account”) for its Cardholders, and in conjunction with their PSECU Membership Account. The Program allows you, 
the Cardholder (the Borrower and any Co-borrower), to earn 1.5% cash rewards, or 2% if you qualify, on eligible 
purchases in accordance with and subject to the following Terms and Conditions (“Terms”). Please keep a copy of 
these Terms for your records.  

1.  REWARDS ON PURCHASES: You can earn Rewards (“Rewards”) on the net amount of eligible purchases that 
appear on your Card Account billing statement. Transactions that are not eligible for Rewards under this 
program  include,  but  are  not  limited  to,  the  following:  Balance  transfers,  cash  advances,  convenience 
checks,  disputed  or  unauthorized  purchases/fraudulent  transactions,  credits,  any  Card  Account  fees, 
purchase of Travelers Cheques, fees for services or programs you elect to receive through PSECU, finance 
charges, and any cash equivalent transactions. Rewards are calculated by PSECU at the end of each billing 
cycle, for your Card Account, by first taking the total dollar amount of all eligible purchases made during 
that billing cycle and then subtracting any refunds or returns that are posted during that timeframe. That 
total is the net amount of eligible purchases. PSECU then calculates Rewards based upon that net amount. 
As an example, a Cardholder who has $250 of eligible purchases and $50 of purchase returns during a billing 
cycle ($250 - $50 = $200 net amount) may qualify for $3 in Rewards at the 1.5% level.   

You  qualify  to  earn  2%  Rewards  if  you,  the  Borrower,  have  a  checking  account  open  on  your  PSECU 
Membership Account and also have qualifying direct deposits (i.e. electronic deposit of payroll, retirement 
income, social security income) totaling at least $500.00 into your Account during the billing cycle for which 
Rewards  are  calculated.  PSECU  will  determine  your  Rewards  level  at  the  end  of  each  billing  cycle.  The 
Rewards Account is not a cash account, and it does not earn dividends. PSECU reserves the right, in its sole 
discretion, to determine what transactions qualify as eligible purchases, and to determine the amount of 
Rewards earned and to make adjustments to the Rewards Account.   

2.  VALUE OF REWARDS: Rewards have no cash value until such time that a Cardholder requests and redeems 
available  Rewards.  There  is  no  minimum  or  maximum  Rewards  amount  that  you  can  earn.  You  may  not 
assign, transfer, barter or pledge your Rewards in any manner, and you have no property rights or any other 
legal  ownership  interest  in  Rewards.  PSECU  is  the  owner  of  all  Rewards  until  such  time  that  they  are 
redeemed. You, the Cardholder, are solely responsible for any tax consequences that may be associated 
with your Rewards.  Please consult with your tax advisor, as PSECU does not provide tax advice. 

3.  REDEEMING CASH REWARDS: You are responsible for all Rewards Account activity. Rewards are eligible to 
be redeemed once PSECU has posted them to your Rewards Account, which is associated with your Card 
Account. If you are the Borrower (the Borrower is the PSECU Membership Account owner and Cardholder 
who applied for the Card Account), you can view and redeem Rewards online by signing into your PSECU 
Membership  Account  or  by  contacting  PSECU  at  1.800.237.7328.  As  the  Borrower,  you  may  request  that 
Rewards be redeemed to your PSECU Membership Account Regular Shares or Checking Shares, or you may 
redeem  them to  your  Card  Account  loan  balance.  If  you,  the  Borrower,  also  have  a  PSECU  Visa®  Classic 
Credit Card (“Classic Card”) on your PSECU Membership Account, you may redeem Rewards to that Classic 
Card account. Rewards that are redeemed to your Card Account, or to your Classic Card account, will be 
applied in the same way that a payment is applied and you will remain responsible to make your monthly 
minimum payment on that Card Account or Classic Card account. If you are the Co-borrower, you must 
call PSECU at 1.800.237.7328 in order to redeem Rewards. 

4.  NO EXPIRATION: Your Rewards will not expire. They may, however, be suspended, restricted or forfeited 

in accordance with these Terms.   

 
 
 
 
 
 
5.  RIGHT TO CHANGE TERMS: PSECU may revise these Terms at any time, up to and including termination of 
the Program, without providing you with advance notice of such revision. This includes the determination 
of what kinds of transactions are included as eligible purchases. If PSECU chooses to terminate the Program, 
any unredeemed Rewards you have earned may be redeemed and placed into your Regular Share account. 
Any changes to the Terms will be posted to psecu.com/disclosures.  

6.  RESTRICTIONS:  Rewards  may  be  earned  and  are  redeemable  only  when  your  Card  Account  is  open  and 
current, meaning that you are not past due making a payment. PSECU reserves the right to determine, in 
its sole discretion, whether the Card Account meets all qualifications for earning and redeeming Rewards, 
and also reserves the right to prohibit any Cardholder from participating in the Program. PSECU may suspend 
and/or cancel a Cardholder’s participation in the Program, including forfeiture of any Rewards, if PSECU 
determines that Cardholder has acted in any manner that reflects suspicious or fraudulent activity, or that 
in any way is abusive of the Program. Rewards that are forfeited, for any reason, may not be reinstated, 
and you are not entitled to compensation for any forfeited, suspended or restricted Rewards. PSECU will 
not notify you of any forfeiture of Rewards. PSECU’s decision not to enforce any rights it has under these 
Terms does not waive its right to enforce them at a later time.  

7.  PURCHASE  RETURNS  AND  REWARDS  ADJUSTMENTS:  Returning  a  purchased  item,  disputing  a  merchant 
charge, or receiving a refunded purchase amount may result in a credit being applied to your Card Account. 
This  could  reduce  or  eliminate  any  accumulated  Rewards,  and  may  cause  a  negative  Rewards  Account 
balance. Any Rewards earned thereafter will first be applied to bring the Rewards Account balance to zero.    

8.  CLOSURE OF CARD ACCOUNT: If your Card Account is closed for any reason, any Rewards accrued will be 
forfeited. Rewards must be redeemed in accordance with these Terms prior to Card Account closure.   

9.  DECEASED ACCOUNT: Upon the death of the Borrower, if there is no Co-borrower on the Card Account, 
unredeemed  Rewards  will  first  be  applied  by  PSECU  to  the  Card  Account  loan  balance,  and  then  any 
remaining Rewards will be redeemed to the PSECU Membership Account Regular Shares. If there is a Co-
borrower on the Card Account, then upon the death of the Borrower any unredeemed Rewards will first be 
applied by PSECU to the Card Account loan balance, and then any remaining Rewards will be redeemed by 
PSECU  and  a  check  will  be  issued  to  the  surviving  Co-borrower.  Upon  the  death  of  the  Co-borrower, 
unredeemed  Rewards  will  first  be  applied  by  PSECU  to  the  Card  Account  loan  balance,  and  then  any 
remaining Rewards will be redeemed to the PSECU Membership Account Regular Shares. The estate of the 
deceased Cardholder will not be eligible to redeem any Rewards, regardless of how the estate was created, 
and as stated in these Terms no property right is created in the Rewards.   

10.  GOVERNING LAW: The laws of the Commonwealth of Pennsylvania shall govern all aspects of this Program, 
including these Terms. This Program and any Rewards are void where prohibited by federal, state, or local 
law. PSECU has no obligations in regard to this Program other than those stated in these Terms. 

11.  PSECU AGREEMENTS: These Terms and this Program do not alter any other agreement that you have with 
PSECU. Your PSECU Agreements and Disclosures for your PSECU Membership Account and your Card Account 
Consumer Credit Card Agreement (together, “Agreements”) will both continue to apply, and any conflict 
between those Agreements and these Terms shall be resolved in favor of those Agreements for any matter 
that pertains to your PSECU Membership Account and/or your Card Account.      

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©PSECU Form #3907 REV 4/17