GRAND RESERVE™ WORLD MASTERCARD® REWARD PROGRAM AGREEMENT

Key things to know about the Card Program and this agreement

  • Your Grand Reserve™ World Mastercard® account is issued by Celtic Bank.
  • This document describes how the Card Program works. This version of the agreement takes the place of any earlier versions.
  • You agree that use of your Grand Reserve World Mastercard account or any feature of the Card Program indicates your acceptance of this agreement.
  • We may make changes to the Card Program and the terms of this agreement at any time, including adding or deleting terms or changing how you can earn Points in the Card Program.
  • We may supplement this agreement with additional terms, conditions, disclosures, and agreements that will be considered part of this agreement.
  • The Card Program is featured in a larger reward program called the Grand Reserve Reward Program, which is operated by Vertical Finance, Inc. (“Vertical Finance”). The Grand Reserve Reward Program is distinct from the Card Program and is governed by the Grand Reserve Reward Program Rules, available at https://grandreservecard.com/reward-program-rules
  • We may temporarily prohibit you from earning Points, using Points you’ve already earned that haven’t been transferred to the Grand Reserve Reward Program, or using any features of the Card Program.
  • Points earned in the Card Program are automatically transferred to the Grand Reserve Reward Program after the relevant transaction clears. Vertical Finance may change the rules of the Grand Reserve Reward Program in accordance with its terms.

In this agreement, we use these defined terms:

  • “account” means your Grand Reserve World Mastercard account that is linked to the Card Program
  • “credit card” means the credit card or account number used to access your account
  • “we,” “us,” and “our,” means Vertical Finance in its role as administrator and marketer of the Grand Reserve Reward Program, Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC, as issuer of the Card, Deserve, Inc. as servicer, and each of their respective agents, authorized representatives, successors, and assignees
  • “you” and “your” mean the person responsible for the account and for complying with this agreement
  • “authorized user” means anyone you permit to use the account
  • “Rewards” are the Grand Reserve Reward Program benefits that you can redeem in exchange for Points under the Grand Reserve Reward Program
  • “Points” are what you earn under the Card Program
  • “purchases” is defined below, in the section called How you can earn Points

Notice of changes

  • We will give you 45 days’ notice of changes to the Card Program or this agreement if:
    • We add or increase fees applicable to the Card Program
    • We decrease the rate at which you earn Points in the Card Program
    • We limit the number of Points you can earn in the Card Program
    • We cancel the Card Program
  • We will send this notice to you in writing electronically, either by email or through our online services.
  • We will give you notice of other changes to the Card Program or this agreement by posting an updated copy of this agreement when you log in to our website, https://secure.grandreservecard.com.

How to earn Points

  • You’ll earn Points through purchases. The term “purchases” means purchases of goods and services made by you or any authorized user on your account, minus any returns or refunds.
  • You will earn 5 Points for each $1 of purchases made directly with Grand Reserve partners.
  • You will earn 3 Points for each $1 of purchases made directly at qualifying wine-related merchants, such as wineries, wine or liquor stores, or wine clubs.
  • You will earn 2 Points for each $1 of all other purchases.
  • Most of the time, buying products and services with your credit card will count as a purchase. However, you won’t earn Points for balance transfers; cash advances; travelers checks, foreign currency, money orders, wire transfers or similar cash-like transactions; gambling, lottery tickets, casino gaming chips, wagers or betting; any checks that access your account; interest; unlawful, unauthorized or fraudulent charges; or fees of any kind, including any annual fee and fees for products that protect or insure the balances of your account. You do not have to buy alcohol to earn Points.
  • Points will start to accrue on the day we approve you for a Card Program account. We don’t award Points retroactively.

How to earn bonus Points

  • From time to time there may be promotional offers for the Card Program, which give you the opportunity to earn additional Points as defined by the terms of the promotion. You’ll find out more about the number of bonus Points you can earn and any other terms at the time of the offer. The additional terms will be part of this agreement.

Earning Points and transfer to the Grand Reserve Reward Program

  • Points are earned as soon as each transaction posts, but minus any returns or refunds. If you have more returns or refunds than Points earned from purchases or bonuses, then Points will be deducted from your total Points balance and may result in a negative Points balance.
  • Earned Points will automatically be transferred to the Grand Reserve Reward Program operated by Vertical Finance, usually within one business day of the transaction settling. You can see the Points you’ve earned by logging into the Grand Reserve Reward Program at https://secure.grandreservecard.com.
  • This agreement governs the receipt of Points in connection with the use of your account and is separate and in addition to the Grand Reserve Reward Program Rules that govern your participation in the Grand Reserve Reward Program. The Grand Reserve Reward Program Rules are available online at https://grandreservecard.com/reward-program-rules. Information in this agreement that relates to the Grand Reserve Reward Program isn’t complete or comprehensive and doesn’t include all of the information that you should know about the Grand Reserve Reward Program.
  • Vertical Finance may change, modify and/or eliminate the Grand Reserve Reward Program and/or all or any portion of its terms of use or any policy, FAQ, or guideline pertaining to the Grand Reserve Reward Program at any time and in its sole discretion.
  • If your membership in the Grand Reserve Reward Program is terminated for any reason by you or Vertical Finance, you’ll no longer be eligible to use the Points you’ve earned in the Card Program.
  • Celtic Bank disclaims liability or responsibility for Vertical Finance’s failure to award or redeem Points to or from your associated Grand Reserve Reward Program account.
  • The expiration of Points earned in the Card Program that are transferred to your Grand Reserve Reward Program account will be governed by the Grand Reserve Reward Program Rules, available at https://grandreservecard.com/reward-program-rules.
  • Vertical Finance may change, modify and/or eliminate Point expiration at any time and in its sole discretion.

How to redeem your Points

  • Please see the Grand Reserve Reward Program Rules for information about how to redeem your Points, restrictions and any applicable expiration information.

What may stop you from earning Points or having Points transferred

  • We may temporarily stop you from earning Points through the account and we may not transfer Points you’ve already earned to the Grand Reserve Reward Program if:
    • you don’t make the minimum payment on your account within 30 days of the due date.
    • we suspect you engaged in fraudulent activity related to your account or the Card Program.
    • we suspect you misused the Grand Reserve Reward Program in any way
    • we suspect that you’ve misused the Card Program in any way, such as repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating Points or manufacturing spend for the purpose of generating Points
  • You can begin earning Points again and any Points that we’ve held will be transferred to the Grand Reserve Reward Program in the next billing cycle after your account becomes current or when we no longer suspect fraud or misuse of the account or the Card Program.

How you could lose your Points

  • You’ll immediately lose any Points that we haven’t transferred to the Grand Reserve Reward Program if your account status changes, or your account is closed, for any of these reasons:
    • you don’t make the minimum payment on your account within 60 days of the due date
    • you fail to comply with this or any other agreement you have with us
    • we believe you may be unwilling or unable to pay your debts on time or you file for bankruptcy
    • we suspect you engaged in fraudulent activity related to your account or the Card Program
    • we suspect you misused the Grand Reserve Reward Program in any way
    • we suspect that you’ve misused the Card Program in any way, such as repeatedly opening or otherwise maintaining credit card accounts for the purpose of generating Points or manufacturing spend for the purpose of generating Points
  • We won’t reinstate Points you lose, unless we’ve made a mistake.
  • If your account is closed for any other reason, we’ll automatically transfer any Points earned to the Grand Reserve Reward Program, as long as you don’t lose them for any of the reasons described in this agreement.

Other important information

  • Points are not your property and have no cash value. You can’t use Points to pay your obligation to us and you can’t transfer Points by operation of law, such as by inheritance, in bankruptcy or in connection with a divorce.
  • Points from separate enrolled accounts may not be combined onto one account. There is no maximum number of Points that you can accumulate in the Card Program.
  • If you are not already a Grand Reserve Reward Program member, we will provide your information to Vertical Finance and they will enroll you in the Grand Reserve Reward Program. Points can only be transferred to the primary cardholder’s Grand Reserve Reward Program account.
  • Your participation in the Card Program may result in miscellaneous income received from us. We may be required to send you certain tax forms and to file those forms with the IRS. You are solely responsible for any tax liability related to participating in the Card Program. Please consult your tax advisor if you have any questions about your personal tax situation.
  • We may assign our rights and obligations under this agreement to a third party, who will then be entitled to any of our rights that we assign to them.
  • We are not responsible for disputes between you and any authorized users on your account related to the Card Program.
  • Celtic Bank, Vertical Finance, Deserve, Inc. and their respective third-party service providers, affiliates, directors, officers, employees, agents or contractors make no representations or warranties, either express or implied, including those of merchantability and fitness for intended use or a particular purpose and otherwise arising by law, custom, usage, trade practice, course of dealing or course of performance. You release Celtic Bank, Vertical Finance, Deserve, Inc. and their respective third-party service providers, affiliates, directors, officers, employees, agents and contractors for all activity in connection with the Card Program, including but not limited to, use of the Card Program, and any redemption for or purchase of products or services through the Card Program.
  • You agree to indemnify and hold Celtic Bank, Vertical Finance, Deserve, Inc. and their respective third-party service providers, affiliates, directors, officers, employees, agents and contractors harmless from and against any loss, damage, liability, cost, or expense of any kind (including attorneys’ fees) arising from your or an authorized user’s use of the Card Program, any fraud or misuse of the Card Program, violation of this agreement and/or violation of any applicable law or the rights of any third party.
  • The merchants and third-party service providers that participate in the Card Program are not affiliated with us and are not sponsors or co-sponsors of the Card Program. All participating merchant and third-party service provider names, logos, and marks are used with permission and are the property of their respective owners. Participating merchants and third-party service providers are subject to change without notice.
  • Any disputes concerning Rewards will not affect your payment obligation to us on your account.
  • Participating merchants and third-party service providers are responsible for the quality and performance of any products or services they provide. We are not responsible for any aspects of the products and services provided by participating merchants or third-party service providers.
  • The Card Program is void where prohibited by federal, state, or local law.
  • This agreement and use of the Card Program are governed by federal law, as well as the law of Utah, and will apply no matter where you live or use the Card Program.
  • We may enforce the terms of this agreement at any time. We may delay enforcement without losing our right to enforce this agreement at a later time. If any term of this agreement is found to be unenforceable, we may still enforce the other terms.

Communications

  • Questions regarding the Card Program should be directed to the toll-free number on the back of your credit card.
  • We may send communications about the Card Program to you at any mailing or email address in our records or through our online services.
  • Let us know right away about any changes to your contact information [using the Cardholder Services address on your credit card billing statement] or call the phone number on the back of your credit card.
  • Spanish Assistance: For information or help redeeming your Rewards, please call the toll-free number on the back of your credit card.

Telephone monitoring

  • You agree that we may listen to and record telephone calls as part of providing program services.