Terms & Conditions
Subject to these Terms and Conditions, NBQ Rewards is a rewards loyalty program which allows eligible NBQ Credit card customers to accumulate NBQ reward points (Reward Points) from transactions carried out using these credit cards and to exchange these Reward Points for certain benefits. The rewards account holder(s) shall be deemed to have accepted these Terms and Conditions by applying for redemption of Reward Points.
1. Eligible Segments and Accounts
NBQ Rewards are eligible on Rewards Account opened under any of the following Eligible credit card variants:
- Infinite
- Platinum
- Gold
The Bank reserves the right at its sole discretion to amend the list of eligible card variants at any time with/without prior notice to the relevant Account Holder(s).
2.Enrollment
Participation in the Rewards Account is by customer's choice and free on an eligible Rewards Account. Enrollment Date shall mean the date the eligible Rewards Account is set up by NBQ for new reward account holder(s) and for existing reward account holder(s) the date shall be from the day they opened a rewards account, as decided and communicated by the Bank. Enrollment Year shall mean the year of the Enrollment Date.
3.NBQ Reward Points eligibility and calculation criteria
The NBQ Reward Points on an eligible rewards account shall be subject to the following criteria.
(i)Points can be accumulated via transactions done through POS and E-commerce.
(ii)The Bank reserves the right, to be exercised at any time and without any prior notice to the Account Holder(s) to change the Reward Points mechanism.
(iii)Reward Points will be awarded from the date the Account is activated whenever the Rewards Account is used for all eligible aforementioned transactions.
(iv)Reward Points are valid for two years. Without prejudice to the foregoing, the Bank reserves its right, to be exercised at any time without prior notice to the Account Holder(s), to amend the time limitations on the validity of the Reward Points earned by the Account Holder(s) and credited to the Account Holder(s) relevant account. Any unprocessed redemption order for Reward Points that have been cancelled, shall not be processed by the Bank despite the fact that such redemption order was received before the Account Holder(s) relevant Reward Points cancellation.
(v)Reward Points awarded to the Account Holder(s) will be shown on the Rewards Website.
(vi)Reward Points are non-transferable.
(vii)Upon cancellation of the Rewards Account for any reason, all unclaimed Reward Points accumulated will stand forfeited and cannot be redeemed. If the Rewards Account is blocked or suspended by the Bank for any reason whatsoever, then the Reward Points accumulated shall stand forfeited but may be reinstated at the discretion of the Bank if use of the Rewards Account is reinstated.
(viii)Adjustments will be made to the Reward Points balance if there are any credits, including those arising from returned goods or services or unpaid fees. If a disputed transaction is resolved in favor of the Account Holder(s) or where a transaction is reversed, proportionate Reward Points will also be reversed and credited/debited to the Account Holder(s). On redemption, Reward Points would automatically be subtracted from the total Reward Points accumulated in the Account Holder(s) account.
(ix)The Reward Points are at the sole discretion of the Bank, therefore, the Bank's decision on computation of Reward Points will be final, conclusive and binding on the Account Holder(s). Reward Points should not be construed as interest or any payment in lieu of interest and shall not constitute a guarantee for any obligations of the Bank.
4.Redemption of Reward Points
(i)Customer can redeem the accumulated points and use them for a variety of options like buying flight tickets, booking hotel rooms, buying gifts or gift vouchers and Cashback.
(ii)Redemption shall be subject to the minimum and maximum number of Reward Points that can be redeemed and will be at the Bank's discretion from time to time.
(iii)In the event the Rewards Account is under a compliance closure list or any other bank-initiated closure activity (dormancy/expired documents etc.), redemption is not permitted for that Customer(s)/Account Holder(s).
(iv)Any order placed for the redemption of Reward Points is subject to the Bank's approval, the availability of the chosen Reward at the time of placing the redemption order by the Account Holder(s). The Bank may, without prior notice to the Account Holder(s) withdraw or substitute any of the Rewards for another Reward of comparable value or nature.
(v)Account Holder(s) of closed Rewards Account cannot redeem points.
(vi)Redemption orders once submitted to the Bank cannot be cancelled, revoked or changed.
5.General
(i)In order for an Account Holder(s) to benefit from the Rewards Account, his/her Rewards Account must be valid and in good standing as per the criteria and standards applied by the Bank from time to time, including
a)Any other account(s) that is opened under the company relationship;
b)All other accounts, finances and all other services availed with the Bank.
(ii)In addition to any other conditions outlined in these terms and conditions, Reward Points accumulated will be cancelled if the Rewards Account:
a)Is closed;
b)Is not in good standing in the opinion of the Bank;
c)Has breached the Bank's banking service agreement; or
d)Any other event which, in the sole discretion of the Bank, should result in the cancellation of Reward Points.
(iii)The Bank shall not be liable for any loss of profit, savings, contract, revenue, profit or goodwill or any consequential indirect, incidental, special or punitive loss, damage or expenses or loss of data sustained by the Account Holder(s) as a result of redeeming Reward Points and/or possessing and/or using the redeemed Reward(s) nor shall the Bank be responsible or held liable for any amount payable by the Account Holder(s) to any third party arising out of the purchase, supply, quality, installation, use or otherwise of Rewards, or of any negligence, breach of statutory or other duty on part of the Bank.
(iv)The Bank reserves the right to disqualify any Account Holder(s) from further participation in the Rewards Account, if in the Bank's sole judgment, that Account Holder(s) has in any way violated these Terms and Conditions and/or any other of the Bank's terms and conditions of banking service agreement. Suspension and disqualification may result, at the Bank's sole discretion, in the cancellation and nullification of all Reward Points earned by the Account Holder(s).
(v)The Bank is entitled, at any time and without any prior notice or liability to the Account Holder(s) in any manner whatsoever, to terminate the Rewards Account and/or cancel and/or vary its benefits or features, and/or vary, add to or delete any of the Terms and Conditions outlined herein, and/or withdraw or change the participants of the Rewards Account, and/or modify or limit the value of Reward Points and/or the manner of their redemption even though any of such acts may diminish the value of the Reward Points already accumulated.
(vi)Fraud and abuse relating to earning and redemption of Reward Points will result in forfeiture of the Reward Points as well as termination of the Rewards Account.
(vii)Information supplied by an Account Holder(s) on redemption of Rewards may be used by the Bank for administrative and/or marketing purposes.
(viii)The Rewards Account does not in any way amend NBQ's Terms and Conditions for Credit cards.
(ix)The Bank acts in good faith in response to any oral or electronic instruction or inquiry by the Account Holder(s) in respect of any matter in relation to the Rewards Account and fulfilment of any Reward. The Rewards Account Holder(s) will not be entitled to claim or allege any loss, damage, liability, expense etc. attributable directly or indirectly to any such good faith action of the Bank and the Account Holder(s) shall indemnify and hold the Bank harmless in respect thereof.
