Your participation in any of the Paydown Rewards programs identified below is subject to the additional terms and conditions identified for such Paydown Rewards program. These additional terms and conditions are incorporated by reference into the Member Terms and Conditions applicable to the Gradifi Rewards program and your Gradifi account.
Gradifi Refi Student Loan Refinance Bonus Program
Last modified April 1, 2019
To be eligible for a Paydown Rewards bonus under this program, you must have refinanced your student loans through Earnest, First Republic Bank or LendKey based on an application submitted to the lender after referral from the Gradifi Refi platform. The amount of your refinance bonus will be determined based on the amount displayed to you on the Gradifi Refi platform as the date you are referred from the Gradifi Refi platform.
You understand that you must comply with eligibility requirements for application, underwriting and credit approval criteria established by the participating lender and/or lending platform in order to refinance your student loans. You understand that the loan offer you accept with Earnest, First Republic Bank or LendKey is a separate and distinct relationship from Gradifi and that you must comply with the terms of that offer.
Valid Student Loan & Payment of Rewards
In order to start receiving your Paydown Rewards payments, you must have a valid student loan registered in your Gradifi account. If you wish to have payment applied against your new loan, you must update your Gradifi account to register your new loan account information.
Your Paydown Rewards bonus will be paid out in in a single payment during the first Gradifi payment processing period following the date on which (i) your eligible application has been applied for, approved and disbursed by the lender; and (ii) you have a valid student loan registered to your Gradifi account. If you do not have a valid student loan registered to your Gradifi account within six months following disbursement of your new loan, you will forfeit your Paydown Rewards bonus.
You understand you cannot earn more than one Paydown Rewards bonus under this program within a twelve-month period.
Please note: Gradifi receives compensation from LendKey and Earnest for each approved funded loan transaction resulting from referrals from the Gradifi Refi platform.
Citizens One Education Refinance Loan Program
Last modified September 7, 2016
You understand that you must comply with eligibility requirements for application, underwriting and credit approval criteria of the Citizens One offer.
Payment of Rewards
$300 in Paydown Rewards will be paid out in $50 increments by Gradifi over six consecutive months. Your first $50 payment will be made during the first Gradifi payment processing period following the date which your eligible application has been applied for, approved and disbursed by Citizens One.
You understand you cannot earn more than one $300 Paydown Reward Citizens One student loan award within a three-month period.
Valid Student Loan
In order to start receiving your Paydown Rewards payments, you must have a valid student loan registered in your Gradifi Member account. If you have refinanced your student loans with Citizens One, you must update your Gradifi Member account to register your new Citizens One student loan account information in order to receive Paydown Rewards payable against the new loan.
By accepting an offer with Citizens One, you understand that this is a separate and distinct relationship from Gradifi and that you must comply with the terms of Citizens One and all existing Gradifi Terms and Conditions will remain in effect.
Gradifi receives compensation from Citizens One for each approved funded loan transaction relating to the Paydown Rewards offer.
Gradifi MasterCard Debit Card Paydown Rewards Program
Last modified October 26, 2016
By enrolling in the Gradifi MasterCard Debit Card Paydown Rewards program, you acknowledge, agree and certify that (i) you have read and understand the information contained in these Program terms and conditions, (ii) you agree to be bound by these Program terms and conditions; and (iii) the information provided by you in connection with your enrollment in the Gradifi MasterCard Debit Card Paydown Rewards program is true and accurate to the best of your knowledge and belief.
To be eligible for the Gradifi MasterCard Debit Card Paydown Rewards Program, you must open and maintain in good standing a Gradifi Rewards Checking Account with Radius Bank. Your Gradifi Rewards Checking Account is subject to terms and conditions established by Radius Bank. You understand that your relationship with Radius Bank is a separate and distinct relationship from your relationship with Gradifi. Gradifi is not responsible for decisions as it relates to the status of your Gradifi Rewards Checking Account.
In addition, you must open and maintain a Gradifi account in good standing. Gradifi reserves the right to suspend, amend, or cancel your Gradifi account for any reason including abusive or suspicious activity associated with the Gradifi MasterCard Debit Card Paydown Rewards Program.
Earning Paydown Rewards on Qualified Debit Card Purchases
- Qualified Purchases: Qualified Purchases include non-PIN-based purchases made with a Gradifi MasterCard Debit Card. These are “credit” purchases that can be made in stores and online. To make a non-PIN-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered non-PIN-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and how the transaction is transmitted to Radius Bank at the time of processing. We reserve the right to establish additional types of Qualified Purchases that could be made available in a variety of ways. We also reserve the right to determine if a transaction was a Qualified Purchase. Any goods or services purchased with the Gradifi MasterCard Debit Card that are returned or otherwise credited to your Gradifi Rewards Checking Account are not qualified purchases. Unlawful purchases and purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Cheques, gift cards, prepaid debit cards or other cash equivalents) made with your Gradifi MasterCard Debit Card are not Qualified Purchases. We may require you to provide documentation to validate that certain purchases are qualified purchases.
- Paydown Rewards Earn Rate: Qualified Purchases will earn 1.00% of the total purchase dollar amount in Paydown Rewards.
- Posting of Paydown Rewards Generated from Qualified Purchases: We will post earned Paydown Rewards to your Gradifi account on our records. Your account dashboard on the Gradifi website will display a summary of activity in your Gradifi account, and you can view all of your Program transaction activity within the Gradifi website. Generally, Paydown Rewards will be posted to your Gradifi account as a pending transaction within a short time after the purchase has been made, when we receive information concerning the Qualified Purchase from our bank partner. Pending Qualified Purchases will be updated to “Ready for Payment” status within 30 days after they are posted to your Gradifi account as pending. We will not be liable for damages resulting from any failure to post Paydown Rewards to your Gradifi account in a timely manner. You acknowledge and accept that you are solely responsible for checking your Gradifi account regularly to verify that Paydown Rewards associated with the Gradifi MasterCard Debit Card Paydown Rewards program have been properly posted. If you believe that any Paydown Rewards associated with the Gradifi MasterCard Debit Card Paydown Rewards program have not been properly posted to your Gradifi account, then you must inform us within one (1) year of the date of the qualified purchase for which you are claiming that Paydown Rewards should have been posted and must be able to provide proof of such qualified purchase acceptable to us. We reserve the right to determine whether Paydown Rewards should have been posted to your Gradifi account. You acknowledge that any such determination by us will be final and binding.
- Adjustments to Your Gradifi Account and Paydown Rewards: In the event of any abusive or fraudulent activity related to the Gradifi MasterCard Debit Card Paydown Rewards program, we reserve the right to make any adjustments to your Gradifi account and/or the Paydown Rewards in your Gradifi account in accordance with the Gradifi Member Terms and conditions, these Program terms and conditions, or any applicable laws, rules or regulations. If you cancel, chargeback or reverse a qualified debit card purchase that generated Paydown Rewards, we will deduct from your Gradifi account the amount of Paydown Rewards corresponding to the amount of the chargeback or reversal using the current accrual calculation for that type of qualified purchase. In the event that this reversal results in your Gradifi account having a negative balance, we may apply future earned Paydown Rewards against such obligation. We reserve the right to rescind Paydown Rewards and to bar further accrual of Paydown Rewards, and/or terminate your enrollment in the Gradifi MasterCard Debit Card Paydown Rewards program if we believe in our discretion that you are abusing or have abused the Gradifi MasterCard Program rewards program, including, without limitation, by engaging in fraudulent activities, by engaging in a pattern of returning products after the corresponding Paydown Rewards have been posted or redeemed, by creating or attempting to create or participating in any market in Paydown Rewards, by engaging in or accepting any broad-based solicitation of Paydown Rewards or by attempting to receive Paydown Rewards from transactions that have not been made by you. We will notify you if we determine you have engaged in any such activities, and in such event you agree to forfeit any and all Paydown Rewards in your Gradifi account that are associated with the Gradifi MasterCard Debit Card Paydown Rewards program.
No Cash Value; No Interest.
Gradifi MasterCard Program have no cash value, and are not transferable except as otherwise expressly provided in these terms and conditions, and you will not be entitled to receive interest on the Gradifi MasterCard Debit Card Paydown Rewards Program.
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