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Sesame Cash Promotional Program Terms and Conditions

Last Updated: July 11, 2022

These terms and conditions form a part of, and amend, Credit Sesame’s Terms of Use and the Sesame Cash Terms of Service for the Sesame Cash digital bank account and Mastercard-branded card (“Sesame Cash Debit Card”). Any claims related to the rewards or benefits discussed in these terms are subject to the arbitration, choice-of-law, and liability provisions in Credit Sesame’s Terms of Use.

Sesame Cash Promotional Cash Rewards Program

For a limited time, Credit Sesame is adding cash rewards to its Sesame Cash account issued by Community Federal Savings Bank (“Cash Rewards”). Cash Rewards will be available to eligible customers who improve their credit scores, subject to the terms and conditions described below. This Cash Rewards program begins July 11, 2022 and ends on September 12, 2022. Here’s how the program works:

Eligible customers are automatically enrolled in Cash Rewards. To be eligible for Cash Rewards, a customer must:

  • Have an open and active Sesame Cash account;
  • Have a minimum VantageScore® credit score of 300; and
  • Make at least one $100.00 deposit into their Sesame Cash account during each 30-day reward cycle.

Eligible customers may qualify for one of two levels of rewards based on how much their credit scores improve, calculated on a rolling 30-day window. Eligible customers whose credit scores increase by at least 10 points and up to 99 points from the beginning to the end of the 30-day rewards cycle will receive a $10.00 Cash Reward. Alternatively, eligible customers whose credit scores increase by 100 points or more from the beginning to the end of the 30-day rewards cycle will receive a $100.00 Cash Reward.

Baseline Credit Score

The “Baseline Credit Score” is established in two phases. The first is at the point of rewards qualification (ie, initial deposit of at least $100.00). At qualification, the customer’s current credit score is their “Baseline Credit Score.” The second phase begins after the first 30-day rewards cycle. Then, the “Baseline Credit Score” becomes the highest score the customer has achieved at the end of any 30-day rewards cycle since qualification.

To determine if a customer has increased their credit score enough to earn the $10.00 or $100.00 dollar Cash Reward, we compare their Baseline Credit Score with the score they’ve achieved at the end of that particular 30-day rewards cycle. If the end-of-cycle score is 10+ or 100+ points up from the Baseline Credit Score, the customer will receive the Cash Reward of $10.00 or $100.00, respectively.

For example, if a customer qualifies for rewards on March 1 and has a credit score on that day of 650, 650 is the Baseline Credit Score. If, on March 30, the customer’s credit score has increased to 660 (a 10 point increase), the new Baseline Credit Score would be 660 and the customer would receive a $10.00 Cash Reward.

Note that the Baseline Credit Score can only increase and never decrease.

For example, if on April 30, the customer’s credit score has decreased from 660 to 655, the Baseline Credit Score would remain at 660 because the Baseline Credit Score does not decrease. To earn a Cash Reward on May 30, the customer’s credit score would have to increase to at least 670 to be eligible for Cash Rewards because the Baseline Credit Score remains at 660.

In addition, Credit Sesame does not take into account mid-cycle increases in credit scores that occur before the end of each 30-day reward period for Cash Rewards if that increase is not maintained at the end of the cycle. For example, if the Baseline Credit Score is 650 and then increases to 670 on day 15 of the 30-day rewards cycle, but drops back to 659 on day 30 of the rewards cycle, the customer would not receive a Cash Reward because the program only considers the customer’s credit score increase at the end of each 30-day rewards cycle compared to the Baseline Score.

Credit Sesame will deposit Cash Rewards to an eligible customer’s Sesame Cash account within ten (10) business days after the end of a qualifying 30-day rewards cycle for a Cash Reward.

Suspension and Termination of the Promotional Program

Credit Sesame reserves the right to suspend or prohibit the ability to earn, use, or redeem the Cash Rewards and other benefits referenced above in the event a customer:

  • violates any of the terms and conditions described above or any of the terms and conditions listed in Credit Sesame’s Terms of Use or Sesame Cash Terms of Service;
  • acts in a manner inconsistent with applicable laws;
  • engages in any misconduct or wrongdoing in connection with their Credit Sesame account, Sesame Cash account, or the Cash Rewards or other features; or
  • engages in any fraudulent or inappropriate acts.

Any Cash Rewards or other benefits earned and/or accrued in violation of these terms and conditions and the Credit Sesame Terms of Use and Sesame Cash Terms of Service may be revoked by Credit Sesame in its sole discretion. The ability to earn, use, or redeem Cash Rewards or other benefits will be terminated if either the customer or Credit Sesame places an account in a status that does not permit the customer to deposit additional money.

The promotional program, as set forth above, may be changed, suspended, or terminated at any time without notice. Changes may include, among other things, modifying the eligibility requirements for Cash Rewards or other benefits, changing the amount of Cash Rewards or other benefits, imposing additional restrictions, or terminating the benefits altogether.