Disclosure Information

Truist Business Cash Rewards Credit Card

Truist Business Cash Rewards Credit Card - Disclosures

Interest Rates and Interest Charges
Annual Percentage Rate (APR) for Purchases

0% Introductory APR for the first 9 billing cycles.

After that your APR for purchases will be 12.24% to 21.24%

Your APR will be based on your creditworthiness.

This APR will vary with the market based on the Prime Rate. (See definition of Prime Rate below.)

APR for Balance Transfers1

12.24% to 21.24%.

Your APR will be based on your creditworthiness.

This APR will vary with the market based on the Prime Rate. (See definition of Prime Rate below.)

APR for Cash Advances2

24.24%

This APR will vary with the market based on the Prime Rate. (See definition of Prime Rate below.)

APR for Cash Advances for Overdraft Protection Transfers

24.24%

This APR will vary with the market based on the Prime Rate. (See definition of Prime Rate below.)

Penalty APR and When It Applies

25.15%

This APR will vary with the market based on the Prime Rate. (See definition of Prime Rate below.)

This APR may apply if:

  1. You make your minimum payment more than 60 days past the due date; or
  2. Within a six (6) month period, on two occasions, you make your minimum payment more than 30 days past the due date.

How Long Will the Penalty APR Apply?: Penalty pricing changes will be effective as of your next billing cycle following the late payment condition described above. If your account has no additional defaults for a period of six (6) consecutive months, your account will be reviewed for an appropriate rate adjustment. However, the Penalty APR may apply indefinitely.

How to Avoid Paying Interest on Purchases

Your due date is at least 25 days after the close of each billing cycle. We will not charge interest on new purchases if you pay your entire balance in full by the due date each month.

Minimum Interest Charge

None

Fees
Annual Fee

None

Transaction Fees

Balance Transfer Fee

Cash Advance Fee

Cash Advance for Overdraft Protection Transfer Fee

Foreign Transaction Fee

4% of each advance ($10.00 minimum)

4% of each advance ($10.00 minimum)

4% of each advance ($10.00 minimum, $75.00 maximum), for each checking account that receives an Overdraft Protection Transfer on the same day.

3% of the U.S. dollar amount of each transaction made in a foreign currency and any transaction made in U.S. dollars that is processed outside of the United States.

Penalty Fees

Late Payment Fee


Returned Payment Fee

Overlimit Fee

Up to $39, if we do not receive a required minimum payment when due, we may charge a Late Payment Fee of the minimum payment due or $39, whichever is less.

Up to $39

Up to $39 each billing cycle in which you exceed your credit limit.

How We Calculate Your Balance: We use the “Average Daily Balance (including new transactions)” method.

Loss of Introductory or Promotional APR: We may end your Introductory or Promotional APR and apply increased APRs in applicable transaction categories where Introductory or Promotional APRs may apply as follows: the APR will go to the Purchases, Cash Advance, Cash Advance for Overdraft Protection Transfer or Balance Transfer (as applicable) APR if you fail to pay one (1) Minimum Payment by its Due Date. Penalty APR will apply after Loss of Introductory or Promotional APR as set forth above.

Prime Rate: The Prime Rate used to determine your APR is a variable rate announced by Truist Bank from time to time as the Prime Rate and is subject to change periodically. The Prime Rate is currently 3.25% as of December 1, 2021; however, the Prime Rate is subject to change. See the Truist.com Business Credit Card page for current Prime Rate.

The information stated above is accurate as of December 1, 2021; however, this information is subject to change. To obtain information about current rates, contact your local Truist branch office, write: Truist, P.O. Box 698, Wilson, NC 27894- 0698, call 844-4TRUIST (844-487-8478), or see the Truist.com Business Credit Card page.

Your rates are calculated using the following methods:

a)     Purchase – Add the Prime Rate to 8.99% to 17.99%

b)     Balance Transfer Rate – Add the Prime Rate to 8.99% to 17.99%

c)     Cash Advance Rate – Add the Prime Rate to 20.99%

d)     Cash Advance for Overdraft Protection Transfer Rate – Add the Prime Rate to 20.99%

e)     Penalty Rate – Add the Prime Rate to 21.90%

Billing Cycle: Truist Business Credit Card will bill the Customer on a periodic (monthly) basis on a date Bankcard selects for all amounts owed.

1 Balance Transfer Minimum: The minimum Balance Transfer amount is $100. We may reject Balance Transfer requests when they are less than $100.

2 Request for Cash Advance Account Access: Truist will assign a portion of the Total Credit Limit to be available for the Organization to make Cash Advances; this is known as the Cash Advance Credit Limit for the Account. However, before the Organization may use Cash Advances as a Transaction type available for Account use, the Organization must expressly notify the Bank of this election; this can be done by calling 844-4TRUIST (844-487-8478) or making the request in person at a Truist branch.

Credit Report: By applying for this Truist Business Credit Card Account (“Account”), the Organization agrees that we may obtain credit reports for purposes of processing the application and thereafter as Truist deems necessary to maintain, review, update, renew, service, evaluate/change the credit limit of, or collect upon the Account. The Organization authorizes Truist to verify the information and obtain further information concerning the credit standing of the Organization, its representatives, and to exchange credit information with others.

If the Organization’s application for credit is denied, the Organization has the right to a written statement of the specific reason(s) for the denial. To receive that statement, please write to Truist, Loan Service Compliance, P.O. Box 1847, MC 100-01-04-12, Wilson, NC 27896-1847 within 60 days from the date notified of the decision. Truist will send you a written statement of the reason(s) for the denial within 30 days of receiving your written request for the statement.

Other Important Disclosures

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the legal capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program, or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is the Bureau of Consumer Financial Protection, 1700 G Street NW, Washington, DC 20006.

All credit cards are subject to credit approval. If your Organization is approved as a Business Cardmember, we reserve the right to change your account terms should your credit profile change or for other reasons described in your Organization’s Business Credit Card Account Agreement.

USA PATRIOT ACT: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means to you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.

Ohio Residents: The Ohio laws against discrimination require that all creditors make credit equally available to all creditworthy customers and that credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law.

Truist Bank, Member FDIC. ©2021 Truist Financial Corporation. Truist, the Truist logo and Truist Purple are service marks of Truist Financial Corporation. All rights reserved. Credit cards are issued by Truist.

2413 MV (2110)

Truist Business Cash Rewards Credit Card – Terms

The following Truist Business Cash Rewards Program Terms and Conditions ("Rewards Program Terms and Conditions") govern any and all rewards available under your Organization’s Truist Business Cash Rewards credit card account ("Credit Card"). These Rewards Program Terms and Conditions are an addendum to your Truist Business Credit Card Account Agreement (“Agreement”); in the event of any conflict between these Rewards Program Terms and Conditions, the terms of your Truist Business Credit Card Account Agreement will control. You accept and agree to be bound by the Rewards Program Terms and Conditions whenever you or an authorized cardholder use your Credit Card. As used below, the terms "we," "us," or "our" refer to Truist Bank (“Truist”), the "Program" refers to the Truist Business Cash Rewards Program, and "Cash Rewards" refers to all rewards earned or redeemed through the Program. In addition, the terms "you," "your," or "member" refer to the party(ies) responsible for the Credit Card, including, but not limited to, the Organization, Guarantor(s), Program Administrator(s), and Authorized Signer(s).

NOTE: The highlights outlined below are a general summary of the Truist Business Cash Rewards Program Terms and Conditions. You will receive the full Truist Business Cash Rewards Program Terms and Conditions once your Organization’s account opening process is complete.

General Summary of Rewards Program Rules:

1.      The Program is only available to Truist Business Cash Rewards credit card accountholders who have a Business Credit Card that is intended to be used for business purposes; to use the Program, the Credit Card must be in good standing, i.e., the account is open, current (no past due balances), and not in default or delinquent.

2.      We reserve the right to alter, temporarily suspend, or terminate the Program at any time without notice; this may result in the cancellation of any outstanding Cash Rewards balance related to your Credit Card. Changes to the Rewards Program Terms and Conditions will be posted on the Program website at BusinessCash.TruistRewards.com. You may also call the Truist Rewards Center at 855-523-5197, seven days a week from 8 a.m. - midnight ET, except major holidays, for a copy of the current Rewards Program Terms and Conditions. Changes may affect any Program benefit including, but not limited to, reward items, Cash Rewards value, and Loyalty Cash Bonus. It is your responsibility to regularly review the Rewards Program rules for any changes.

3.      If, in our sole discretion, we suspect you or any cardholder have engaged in fraud, misuse, abuse, or suspicious activity in using the Credit Card, the Program, or any other Truist rewards programs or products, we may suspend or terminate your participation in the Program, including your ability to redeem or access your earned Cash Rewards. In such event, we may close your Credit Card account immediately and without notice; this may result in the forfeiture of all of your Cash Rewards.

4.      If, in our sole discretion, you or any cardholder violate these Program rules or violate the terms of any other Truist rewards program or products, we may suspend or terminate your participation in the Program, including your ability to redeem or access your earned Cash Rewards.

5.      All reward items are subject to availability. We may withdraw, change, or replace specific available reward items or modify the redemption value of rewards at any time.

6.      Generally, Cash Rewards cannot be used to make payments for obligations owed to us or our affiliates. You may not use Cash Rewards to make the minimum payment or pay any fees stated on your monthly billing statement. However, we may allow you to apply Cash Rewards as a statement credit on your Credit Card.

a.      We typically apply redemption requests within 10 business days; however, processing time could take longer. To avoid paying interest charges on your purchases, you must ensure that your entire outstanding balance is paid in full before your billing cycle’s due date.

7.      You may not apply Cash Rewards as a statement credit to produce a credit balance on your Credit Card. If your combined payment(s) and scheduled Cash Rewards redemptions would result in the creation of a credit balance, we will automatically refund you the balance.

8.      Cash Rewards balances cannot be combined with any other loyalty/frequency reward program; Truist is under no obligation whatsoever to combine rewards balances across an Organization’s accounts (or those of the Organization’s affiliate(s)).

9.      Unredeemed Cash Rewards balances have no monetary value.

10.   If you cancel your participation in the Program, you must also close your Credit Card. You may call the Truist Contact Center at 844-4TRUIST (844-487-8478), 24 hours a day, 7 days a week, for assistance.

11.   Earned Cash Rewards are accumulated at the Organization’s account level. If an Organization has multiple cardholder accounts under the same Truist Credit Card Company ID, only one of those cardholder accounts may be designated as the “Primary Account” for the Organization under the Program; the Primary Account will accumulate the Cash Rewards earned through all cardholder account purchases under the Organization’s Credit Card account.

  • For some Organizations, Truist sends a single billing statement to the Organization that reflects the total outstanding balance for all cardholder activity across the Organization for the billing cycle; each is known as a “Centrally-billed” Organization. Each Centrally-billed Organization has a Billing Account to facilitate these payments. For purposes of the Program, the Organization’s Billing Account will be the account designated as the Primary Account.
  • For some Organizations, Truist sends a billing statement to each individual cardholder reflecting that cardholder’s total outstanding balance for cardholder activity for the billing cycle; these are referred to as “Individually-billed” Organizations. For purposes of the Program, one of the individual cardholder accounts must be designated as the Primary Account. At the time of account opening, the Organization must designate which such cardholder account will be the Primary Account for the Program; unless otherwise directed by the client, the first cardholder account opened will be the Primary Account.

12.   You may earn Cash Rewards on eligible purchases made with your Credit Card. Eligible purchases include any signature-based purchase, internet purchase, purchase made using a credit card terminal, phone or mail-order purchase, or automatic bill payment (each an “eligible purchase”). Cash Rewards earned will be applied to your Cash Rewards balance daily.

Merchant Category Code – how it impacts eligible purchases:

For purposes of these Rewards Program Terms and Conditions, “merchant” shall refer to a retailer, business or any other place where you make an eligible purchase. Each merchant is assigned a Merchant Category Code (“MCC”) that indicates the merchant's area of business. For example, restaurants are generally assigned a specific MCC. We use MCCs to determine whether eligible purchases qualify for 2% or 3% Cash Rewards. We do not assign or have any control over which MCC is assigned to a given merchant; the MCCs are chosen and assigned by a third party and that third party may change the MCCs from time to time. When you make a purchase at a merchant, we are provided the MCC for that merchant at the time of the transaction. If the MCC matches a category that gives you 2% or 3% Cash Rewards - for example, if the MCC tells us that you made a purchase at a restaurant - you will receive 2% Cash Rewards for that purchase. You may believe that a purchase at a given merchant qualifies for 2% or 3% Cash Rewards, but we rely on the MCC applied to the merchant to make that determination. For example, a purchase at a restaurant located within a large retail outlet may have a “retail store” MCC, which will not earn 2% Cash Rewards. For more information about MCCs you may call the Truist Rewards Center at 855-523-5197.

$2,000 Monthly Category Cap on 2% or 3% eligible purchases:

Each month, you may earn 2% or 3% Cash Rewards on up to $2,000 in combined eligible purchases made at merchants who are assigned specific Merchant Category Codes. Once you have reached the $2,000 monthly spend total for combined eligible purchases across those categories (“Monthly Category Cap”), you will no longer earn 2% or 3% Cash Rewards on those purchases. Instead, you will earn 1% Cash Rewards for all eligible purchases for the remainder of the month. The Monthly Category Cap is calculated based on eligible purchases made between the first calendar day of a month through the last calendar day of a month.

13.   Cash Rewards you will earn:

1% Cash Rewards on all eligible purchases

You will earn one percent (1%) Cash Rewards for each eligible purchase. This means that for each $1.00 in eligible purchases, you will earn $0.01 in Cash Rewards value. There is no limit to the amount of 1% Cash Rewards you can earn.

2% Cash Rewards on eligible restaurant purchases

Subject to the Monthly Category Cap, you will earn two percent (2%) Cash Rewards on eligible purchases at restaurants. Purchases at certain merchants (e.g., bakeries, convenience stores, specialty markets, merchants whose primary business is the sale of alcoholic beverages) will not earn 2% Cash Rewards but are eligible to earn 1% Cash Rewards.

2% Cash Rewards on eligible office supply purchases

Subject to the Monthly Category Cap, you will earn two percent (2%) Cash Rewards for eligible purchases at office supply stores. Purchases of office supplies at certain merchants whose primary business is not office supplies (e.g., warehouse clubs, discount stores, department stores, variety stores) will not earn 2% Cash Rewards but are eligible to earn 1% Cash Rewards.

3% Cash Rewards on eligible gas purchases

Subject to the Monthly Category Cap, you will earn three percent (3%) Cash Rewards for each eligible purchase spent on gas at service stations and automated fuel dispensers. Purchases at certain merchants whose primary business is not the sale of automotive fuel (e.g., supermarkets, convenience stores, marinas, automotive repair shops, certain truck stops, warehouse clubs) and purchases of propane or kerosene fuels will not earn 3% Cash Rewards but are eligible to earn 1% Cash Rewards.

Note: We may feature special Cash Rewards promotional offers from time to time. The terms of those offers will be disclosed to you when they are available.

14.   The following transactions are excluded from earning rewards: cash disbursements, cash advances, peer-to-peer payment platform transfers, balance transfers, cash equivalents, fees of any kind, interest charges, ATM transactions, credit insurance, fraudulent or unauthorized transactions, credits, returns, and quasi-cash transactions including the purchase of traveler's checks, access checks, or foreign currency, or money orders.

15.   Any credits, except payments to the account, will reduce the Cash Rewards available. If your returns or credits exceed your eligible purchases, you will see a negative Cash Rewards balance posted on the Program account.

16.   Cash Rewards are tracked and redeemable on a first-to-expire basis. This means that the Cash Rewards that have been on your account the longest will be spent first upon redemption.

17.   Cash Rewards earned will expire at the end of the month that is five (5) years from the date of issuance. For example, Cash Rewards earned on July 15, 2020 are eligible for redemption until July 31, 2025.

18.   If your Organization’s Credit Card account is closed, you will no longer earn Cash Rewards and any accrued Cash Rewards you have outstanding at that time will be forfeited and cannot be redeemed.

19.   You must call the Truist Rewards Center at 855-523-5197 from 8 a.m. - midnight ET, seven days a week, or visit the Program's website at BusinessCash.TruistRewards.com to redeem your accrued Cash Rewards.

20.   Cash Rewards may be redeemed for statement credit, electronic deposit to an eligible account, check, gift cards, merchandise, travel, and occasionally other experiences. Redemption rates may vary and are subject to change without notice. For the most current program rules, refer to the Rewards Program Terms and Conditions posted on the Program website at BusinessCash.TruistRewards.com. You may also call the Truist Rewards Center at 855-523- 5197.

21.   Cash Rewards may be redeemed and applied as a statement credit to the Organization’s Credit Card account, mailed to the Organization in the form of a check, or deposited electronically into one of the Organization’s eligible Truist business checking, business savings, or business money market accounts. At the time of redemption, the Truist Rewards Center will reduce your Cash Rewards balance by the amount of Cash Rewards redeemed.

  • Statement credits will be posted to the Primary Account for the Program. The Organization may not select a different account during redemption.
  • Checks will be made out to the Organization, not an individual.
  • We do not allow Cash Rewards to be deposited electronically into a non-Truist account.

22.   You must have a Cash Rewards balance of $25 or more to redeem for a statement credit, electronic deposit, or check.

23.   Gift cards may be used only once in accordance with the participating merchant’s rules. This may require the entire gift card balance to be used at once. Mechanical reproductions, copies or facsimiles of gift cards will not be accepted. Additional terms and conditions appearing on the gift cards are to be interpreted in accordance with these Rewards Program Terms and Conditions. Gift cards are not exchangeable, refundable, or transferable, and cannot be replaced if lost or stolen. Gift cards are not redeemable for cash.

24.   Truist will not provide a refund of any kind or in any amount for unused portions of gift cards or if the participating merchant fails to perform/honor the gift card.

25.   Truist is not responsible for rewards or related correspondence lost or delayed due to mail delivery.

26.   All redemptions are final.

27.   You will receive a 10% Loyalty Cash Bonus added to your cash redemption amount when you electronically deposit your Cash Rewards redemption into your eligible Truist business checking, business savings, or business money market account.

If you have a Truist Dynamic Business Checking account and also electronically deposit your Cash Rewards redemption into your Organization’s eligible Truist business checking, business savings, or business money market account, you may receive either a 25% or 50% Loyalty Cash Bonus added to your cash redemption amount; if applicable, this 25% or 50% Loyalty Cash Bonus would replace the 10% Loyalty Cash Bonus described above.

We determine and award your Loyalty Cash Bonus at the same time as your cash rewards redemption. For Truist Dynamic Business Checking account clients, we perform a calculation for each of the prior three (3) calendar months (“monthly review”); for each monthly review, this calculation determines the highest average monthly balance of your combined eligible business deposit balances. We will use the highest average monthly balance amongst those 3 monthly reviews to assign your Loyalty Cash Bonus percentage as follows:

  • 50% Loyalty Cash Bonus if combined eligible business balances are $50,000 or greater
  • 25% Loyalty Cash Bonus if combined eligible business balances are between $25,000 and $49,999.99
  • 10% Loyalty Cash Bonus if combined eligible business balances are less than $25,000

For the purposes of this Loyalty Cash Bonus, your deposit relationship will be determined as of the last day of the month preceding redemption. However, we reserve the right to take up to five

(5) business days to determine or update your deposit relationship for each monthly review. The eligible Loyalty Cash Bonus percentage will be adjusted accordingly and will persist until we have completed the next monthly review. If you completed a cash redemption prior to the next monthly review date, we will not retroactively review your Loyalty Cash Bonus percentage. Your eligible Loyalty Cash Bonus percentage may increase monthly but decrease only once every three (3) calendar months.

For example, let’s say your monthly review for May shows that your highest average monthly balance across your combined eligible business accounts is $10,000. For June, it is $25,000, for July it is $55,000, for August it is $30,000, for September it is $10,000, and for October it is $10,000.

If you have a Truist Dynamic Business Checking account, and you redeem your Cash Rewards into an eligible Truist business deposit account in August, September, or October, you will receive a 50% bonus (because we will look to your July monthly review calculation). If you redeemed to an eligible Truist business deposit account in November, you would receive a 25% bonus because your highest average monthly balance for the preceding 3 calendar months decreased to $30,000.

28.   You may redeem Cash Rewards for airline travel on most major, U.S.-based airlines as displayed or published in a U.S. airline industry computer reservation system. NOTE: A $28.00 airline ticket redemption fee may be charged per ticket. This fee is subject to be changed by the airline or us at any time, without notice.

29.   Airline tickets may be purchased in any designated individual's name but must be redeemed by a Guarantor, Program Administrator, or Authorized Signer on the account. Itinerary confirmation will be delivered to the Guarantor, Program Administrator, or Authorized Signer via email within 48 hours of booking. Paper itineraries will be sent to your address upon request. NOTE: A $14.95 fee may apply for each paper itinerary issued. Paper itineraries are mailed within seven (7) business days of the final booking. NOTE: A $30.00 charge will be applied when booking companion tickets. These fees are subject to change at any time, without notice.

30.   If you believe there is an error on your Program account, you must report such error to us promptly but in no event more than 60 days after the date the eligible purchase (or any subsequent adjustment) posts to your Credit Card. After that time, Truist is not liable for any error and your Program balance will be deemed correct. Rewards Program errors are not billing errors under your Business Credit Card Account Agreement. Truist’s decision regarding any error will be final.

31.   Taxes: Earning and redemption of Cash Rewards may be subject to income tax or other taxes. Any applicable federal, state, or local tax obligations related to the Program are your responsibility. Please consult your tax advisor concerning any such income or other tax consequences related to your participation in the Program.

32.   Truist will not lose any rights under the Rewards Program Terms and Conditions or Agreement if we delay or choose not to take any action for any reason. Truist may waive any of its rights without notifying you.

Truist Bank, Member FDIC. ©2021 Truist Financial Corporation logo is a trademark of Truist Financial Corporation. All rights reserved. Credit cards are issued by Truist.