Information you should know about the Cash Rewards Program

1. How do I earn cash rewards?

You will earn rewards based on eligible purchases made by a cardholder or authorized user during a billing cycle, minus any credit or return related to an eligible purchase ("net purchases"). Eligible purchases do not include: use of checks from your credit card account, balance transfers, cash advances, interests and account fees, unauthorized charges, purchase of casino chips, other forms of gambling or any other transaction than our sole discretion determines that it constitutes or is equivalent to a cash advance.

Earn 1.5% (equal to $0.015) of cash rewards for every dollar ($1.00) in net purchases. For example, a hundred dollars ($100) in net purchases generate a dollar-and-fifty-cent accumulation ($1.50) of cash rewards. Cash Rewards are rounded up to the nearest penny. The rewards are calculated considering each net purchase, not the sum of the net purchases assessed in a billing cycle.


2. How do I check my Cash Rewards balance?

The cash rewards balance you have earned will be presented on your credit card statement and on Mi Banco Online. You can also call Customer Service at 787-758-0505 for rewards’ related questions.


3. How and when can I redeem my rewards?

They can be redeemed for statement credit to the account that has accumulated the cash reward or as a deposit to a Banco Popular checking or savings account. There is a minimum redemption amount of $10.00. You can redeem in Mi Banco or by calling Customer Service at 787-758-0505. The credit can take up to 5 days to be reflected in your account. To redeem the Cash Rewards your account must be kept open until the date the cash rewards is processed. The credit will appear on your statement as a credit adjustment to your account and not as a payment. You must continue to make at least the minimum payment required for each billing cycle on or before your expiration date. If you choose to redeem with a credit to your statement and redemption results in a credit balance on your account, redemption cannot be reversed. The credit balance will remain in your account and will apply to any new purchases, unless you contact the Customer Service at 787-758-0505 to request a credit balance reimbursement.


4. Do my rewards expire?

Your Cash Rewards are yours for the life of the account; they will not expire as long as your account is open and in good standing.


5. Is there a limit to the amount of rewards I can earn?

There is no limit on the amount of Cash Rewards that you can earn on purchases, subject to the loss or suspension of the cash rewards.


6. Rewards loss or suspension:

You may earn Cash Rewards as long as your account is open and current. If you or we decide to close your account, you will have up to 30 days from the closing date of the account to redeem your balance of rewards, by calling Customer Service at 787-758-0505. After this period, you will lose any Cash Rewards that you have not redeemed. You will not be able to earn or redeem your Cash Rewards if your account becomes delinquent; that is if you fail to make any required minimum payment when due. Cash Rewards may not be assigned, transferred and/or pledged to any third party. We reserve the right to suspend you from the Program at any time.


7. Changes to the Cash Rewards Program:

The terms of the cash rewards are subject to changes, substitution, or cancellation at any moment and for any reason at our sole discretion, and without notice to you.


8. Other information about the Cash Rewards Program:

Rewards cannot be returned to your rewards account once they have been redeemed. Redeemed rewards are not refundable, interchangeable, replaceable, reversible, or transferable by cash or credit under any circumstances. Rewards may not be allocated, transferred, and/or ceded to any third party. Rewards earned in your reward account are not equivalent to cash. You have no right of property or any other legal interest in the rewards. Rewards may not be transferred under the law, such as by inheritance, bankruptcy or divorce. You cannot combine the rewards earned on this account with those you earn in another account with us.


9. Fraud, misuse, and abuse:

If we find evidence of fraud, misuse, abuse, or suspicious activity, we will investigate and if we determine that fraud, misuse, or abuse occurred, we may take action against you. These actions may include, without limitation: (i) withdraw any rewards earned as a result of fraud, misuse or abuse, (ii) stop granting rewards to you, (iii) suspend or close your account, (iv) take legal action to recover the amounts credited due to rewards redeemed by such activity, and to recover our monetary losses including litigation costs and damages.


Need more help?

We are receiving an extraordinary volume of calls, which is affecting our waiting times. We appreciate your understanding and your trust in us.

Call us at 787.724.3659 or Access Mi Banco Online (desktop version), log in by entering your username and password, and in the upper part of the website click on “Contact Us”. From there, write your message, and we will gladly assist you.

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