REWARDS TERMS AND CONDITIONS FOR VENMO VISA^® CREDIT CARD
AND VENMO VISA SIGNATURE^® CARD ACCOUNTS

Card Account Rewards Program (“Program”)

With the Venmo Credit Card (“Card”) Account (“Card Account”), the person to whom the Card Account was issued (“Primary Accountholder,” “Accountholder” or “you”) will earn cash back rewards (referred to as “Cash Rewards”) on a daily basis on Eligible Purchases made by you (subject to your available credit) or your authorized users using your Card Account, as set forth below. The amount of Cash Rewards earned is determined by the Eligible Purchases made each day and may be reduced by any applicable Cash Rewards adjustments. The Program is only available to Accountholders who have an open Venmo account in good standing to which the Card Account is linked. Your participation in the Program is subject to the Program Terms.

“Eligible Purchases” mean the dollar amount of settled purchases of goods and services you or your authorized users make using your Card Account everywhere Visa credit cards are accepted. Eligible Purchases also mean the dollar amount of settled transactions when the Card Account is used to send money to another Venmo user through your Venmo account (a “Venmo P2P”) or for a person-to-person money transfer not made through your Venmo account (a “non-Venmo P2P”), but only if such transactions are classified as a purchase. Eligible Purchases do not include cash advances as defined in the agreement governing your Card Account (including but not limited to non-Venmo P2P that are classified as a cash advance) or any other transactions that Synchrony may determine in its sole discretion are not eligible to earn Cash Rewards, and may be referred to as “Non-Rewards Eligible.” Certain Eligible Purchases will be based on a merchant’s MCC (as described below), and will be used to determine the percentage of Cash Rewards earned.

“MCC” means a merchant category code and is a four-digit classification code, as defined by Visa, that is assigned to a merchant by the merchant’s payment card network or merchant processor based on the predominant business activity of the merchant. For example, the café of a gas station may have an MCC as a type of merchant other than a restaurant and therefore would not qualify as a Dining & Nightlife purchase under these Program Terms. Additionally, Eligible Purchases made through a third-party payment account, mobile or wireless card reader, digital wallet or similar technology that does not support the transmission of MCCs will earn 1% Cash Rewards. Neither Venmo nor Synchrony assigns or has responsibility for the assignment of MCCs or evaluates what MCCs should be assigned to a specific merchant. Synchrony reserves the right to determine from time to time the categories and which MCCs are included in each category. Synchrony is not responsible for awarding Cash Rewards for Eligible Purchases at merchants who do not report an Eligible Purchase with an accurate MCC.

Earn Cash Rewards on Eligible Purchases.

At the end of each day, Eligible Purchases made on such day in dollars by you or your authorized user using your Card Account in each category described below will be totaled, and the amount of the Cash Rewards earned will be determined as follows:

• 3%: Dining & Nightlife. All Eligible Purchases made in Dining & Nightlife will earn 3% Cash Rewards. Dining & Nightlife includes restaurants and quick serve restaurants that sell prepared food and drinks for consumption on the merchant’s premises, carry out, drive through or delivery; plus, establishments that sell alcoholic beverages such as wine, beer, mixed drinks, and other liquors and beverages for consumption on the premises.
• 3%: Entertainment. All Eligible Purchases made in Entertainment will earn 3% Cash Rewards. Entertainment includes movie theaters, theatrical and concert promoters, video game rental stores, digital goods such as books, movies, music and games, books and newsstands, amusement parks, music stores, ongoing delivery of television/radio/streaming content on a subscription or fee basis and toy and hobby stores. This category also includes sports and recreation facilities that require membership such as health clubs, tennis, golf and swimming clubs.
• Additional 1%: "Split Bonus." All Eligible Purchases made using your Card Account in Dining & Nightlife or Entertainment will earn an additional 1% Cash Rewards when splitting the cost with at least one other Venmo user inside the Venmo app using the “Split Transaction” feature in the credit card servicing section. You must select the credit card transaction to be split, request the split from at least one other Venmo user and be paid by all such other Venmo users within 30 days of the purchase showing in your Venmo account to qualify for the additional 1% Cash Rewards.
• 3%: Pay with Venmo. All Eligible Purchases made using your Card Account as your linked payment method when you check out with Venmo online on popular apps and sites, send a payment directly to a business profile on Venmo, and send a Venmo P2P for goods and services will earn 3% Cash Rewards.
• 1%: P2P. All Eligible Purchases made for a Venmo P2P (not for goods and services) or non-Venmo P2P will earn 1% Cash Rewards, but only if such transactions are classified as a purchase and not a cash advance.
• 1%: Other. All other Eligible Purchases made where Visa credit cards are accepted will earn 1% Cash Rewards.

There is no minimum amount of Eligible Purchases required before earning Cash Rewards and there is no maximum amount of Eligible Purchases that may earn Cash Rewards.

Cash Rewards earned do not expire although they may be forfeited in accordance with these terms. Transactions resulting in fractions of Cash Rewards will be rounded up to the nearest whole cent if equal to or greater than $0.005 and rounded down if less than $0.005.

From time to time, bonus Cash Rewards (“Bonus Rewards”) may be available for certain Eligible Purchases and may include spending thresholds or limits, time period restrictions, or other factors. Bonus Rewards will be subject to the terms and conditions of the Bonus Rewards offer made to you in addition to these Program Terms and may be modified or canceled at any time.

How to view your Cash Rewards. Information about your Cash Rewards will be shown in the Venmo Credit Card section within your Venmo app. Until the Cash Rewards are calculated and transferred to the balance on your Venmo account (referred to herein as “your Venmo balance”), any amount of earnings accrual shown in the app are estimates and may be changed based on additional Eligible Purchases, adjustments and MCCs.

Use Cash Rewards from your Venmo balance. At the end of each day, Cash Rewards earned on Eligible Purchases are calculated and attributed to the 3% and 1% categories described above; and then automatically transferred to the Primary Accountholder's Venmo balance, generally within three business days and in any event no more than two billing cycles after such Cash Rewards are earned. While Cash Rewards are earned daily, they might not necessarily be transferred to your Venmo balance on the same day depending on when the transaction is settled and other considerations. Once the Cash Rewards are transferred to your Venmo balance, they will be available for use by you for making payments, making purchases, sending money to other Venmo accounts, or transferring to your bank account or debit card linked to your Venmo account like any other Venmo balance, subject to the terms and conditions of your Venmo account.

Cash Rewards adjustments. Adjustments will be made to your Cash Rewards as the result of canceled transactions, refunds or other credits from merchants, and other credits to your Card Account (including those resulting from successful transaction disputes). An adjustment also may occur if these Program Terms are violated by you or we believe you are abusing or gaming the Rewards Program. An adjustment may cause a negative balance in your Cash Rewards and impact your ability to receive future Cash Rewards in an amount up to the amount of any Cash Rewards originally earned on Eligible Purchases.

Card Account and Venmo account suspension or closure.

• If your Card Account is suspended for any reason: You will not be able to earn Cash Rewards during any time your Card Account is suspended for any reason even if a transaction is made that would otherwise be an Eligible Purchase.
• If your Card Account is closed by Synchrony for any reason: Your participation in the Program will be terminated, you will cease to earn any Cash Rewards and any Cash Rewards earned but not transferred to your Venmo balance will be forfeited.
• If your Card Account is closed by you: Your participation in the Program will be terminated, you will cease to earn any Cash Rewards. Any Cash Rewards earned but not yet transferred to your Venmo balance will be transferred no later than the end of the second billing cycle in which your Cash Rewards were earned.
• If your Venmo account is closed or if your Card Account is no longer linked to your Venmo account: Your Card Account will be closed. Any Cash Rewards earned, but not transferred to your Venmo balance, will be forfeited.

Other conditions. You acknowledge that the Program is a promotional program as to which no consideration has been paid to you and that Cash Rewards have no cash value. Unless and until the Cash Rewards are transferred to your Venmo balance and used in accordance with your Venmo account terms, no tangible or intangible right, title, or interest in the Cash Rewards has been earned. Nothing herein requires Venmo or Synchrony to credit Cash Rewards to any Card Account or transfer any Cash Rewards to your Venmo balance if the Program has been canceled, terminated or suspended. The Program, including these Program Terms, is subject to the Governing Law and Arbitration provisions of the agreements governing your Card Account. You consent and authorize Venmo and Synchrony and any of its subsidiaries and affiliates or any non-affiliated third parties with whom they contract to manage the Program to share information about you and the Program with Synchrony and Venmo and, as necessary, to effect, administer, enforce, service, or fulfill the terms of the Program. The Program is void where prohibited by federal, state, or local law. If your Card Account has a New York mailing address, you will be able to redeem any Cash Rewards that you have accumulated for up to 90 days after we send you notice that your Card Account is closed or the Program has been modified, canceled, closed or terminated (subject to the availability of Cash Rewards). However, Cash Rewards will be forfeited at Card Account closure if the account was delinquent or if the Card Account was closed for fraud or other misuse.

Program modifications. Venmo and Synchrony reserve the right to add, modify or delete any benefit, service or feature of the Program at any time in its sole discretion. Changes to the Program may include, among other things, adding a cap to the amount of purchases in any categories that will qualify for Cash Rewards, modifying Eligible Purchases or earn categories, excluding transactions, imposing additional restrictions or terminating the Program. Venmo and Synchrony reserve the right to remove any participant from the Program in the event of fraud or abuse in connection with the Program.