Simply put; CashBack Rewards is a way for you to earn a discount on future fees.
Here’s how it works:
With CashBack, each time you make a payment toward a draw, you get a percentage of your weekly fee back. The next time you draw funds, the CashBack balance you’ve accumulated is automatically applied as a discount on the fee for that draw. Once you start repaying that draw, you’ll earn cashback again to use on future draws.
How do I know how much CashBack I have?:
Take a look at the ‘Rewards’ section in the top right of your Fundbox dashboard. You’ll see exactly how much CashBack (and coupons) you have in your Rewards balance to be used on your next draw.
Additional Terms & Conditions:
- You only earn CashBack for successful payments on your original payment plan.
- The amount of CashBack you can earn on each draw is clearly displayed in the draw pane when you go to draw funds. This amount assumes all payments are successful and you remain on your original payment plan.
- CashBack is not earned when a payment is missed, when you’re on a custom repayment plan, or on unpaid fees due to a promotional discount or early repayment.
- The CashBack you earn on fees paid can only be used toward fees on future draws.
- Any expiring bonus or promotional discounts you may receive are added to your ‘Rewards’ to be redeemed by the expiration date. To redeem expiring promotions, you must draw funds within the timeframe provided with the promotion.
- If you close your Fundbox account, any unused CashBack balance will be revoked.
- Fundbox reserves the right to cancel the CashBack rewards program, to make changes to the CashBack percentage being awarded, and to revoke any unused CashBack balance at any time. If we decide to take any of these measures, we will notify you accordingly.
- CashBack Rewards earned will be available for one year from the end date or date of ineligibility, which you will be notified of.
Now that you know all about CashBack Rewards, go ahead and draw funds to start earning CashBack and watch the savings add up!