1. What is the First Citizens Cash Back rewards about?
The First Citizens Cash Back Rewards programme is a loyalty initiative, which rewards the First Citizens credit card holder with money when he /she purchases with his/her First Citizens Credit Card.
2. Why is First Citizens offering cash back?
The primary objective of offering cash back at this time is to improve brand visibility and appeal to the mass market.
3. When will the cash back rewards programme start?
The programme will start from November 15, 2013.
4. Do I have to enroll in the Cash Back rewards programme?
When you are a holder of a Visa Classic, Gold, Business or MasterCard Standard credit card you are automatically enrolled in the cash back rewards programme.
5. How much money do I earn?
You earn 0.75% of the value of the purchases made during every statement cycle.
6. How often will the cash back be credited to my account?
The cash back rewards are credited each month on your statement date.
7. Do I have redemption options or are rewards only credited to my account?
There are no redemption options other than the cash back being applied to your account.
8. Which First Citizens credit cards offer the cash back rewards?
This is offered on the VISA Classic, VISA Gold, VISA Business and MasterCard Standard credit cards. It is not offered on the VISA Platinum credit card which already offers a travel reward programme.
9. Where can I spend the cash back rewards that I receive?
Once the rewards are credited to the account, the funds are available for use, anywhere worldwide. You can use the funds towards your purchases and cash advances (locally and internationally) or online as well.
10. Does the crediting of the cash back rewards reduce the amount that I owe on my First Citizens credit card?
Yes the crediting of the cash back rewards will reduce your outstanding balance.
11. Is the minimum payment reduced by the cash back amount?
No. The cash back amount is applied before the calculation of the minimum payment to reduce the outstanding balance. The minimum payment is calculated on the outstanding balance.
12. How do I earn cash back rewards?
You earn the cash back rewards on local, international and online purchase transactions only.
13. Are cash advances, refunds, payments or balance transfers eligible for cash back?
No, cash back is only rewarded on purchases.
14. Do purchase transactions made by additional cardholders on the credit card account contribute to the cash back rewards as well?
Yes. The funds earned as rewards and to be credited to the account considers all purchase transactions done by all cardholders on the credit card account.
15. Is there a minimum amount that I can earn in cash back?
Yes. The minimum amount you can earn in cash back is BBD$1.00. You will need to make transactions for more than BBD$135.00 to start earning points.
16. What is my statement cycle and when is my statement date?
All First Citizens credit cards carry the same statement cycle and the same statement date.
The statement cycle runs from the 10th of a month to the 9th of the following month.
The statement date is the last day of the statement cycle which is the 9th monthly.