Oxygen Total Rewards
Please take note of the following process for managing your rewards
Cashback rewards, ambassador reimbursement, and referral bonus earnings will be placed in your "Cashback Earned Account" until Oxygen Day, which falls on the 8th of every month.
On Oxygen Day, the accumulated balance in your "Cashback Earned Account" will automatically transfer to your "Total Rewards Account", making it available for cashing out.
You can only cash out your earnings when they are present in the "Total Rewards Account".
For instance, if you earn a $100 referral bonus on October 1st and receive $1.00 cashback from Starbucks on October 2nd, the total earnings of $101.00 will be deposited into your "Cashback Earned Account.
Then, when October 8th arrives (Oxygen Day), your balance will move from "Cashback Earned Account" to "Total Rewards Account," and you can conveniently cash out your earnings to your Oxygen deposit account.
How do I start earning Cashback rewards?
You can earn cashback with merchants available by using your Oxygen Visa Debit Card at check-out. To start earning rewards, first you must activate your offer type (such as Starbucks or Shell). To activate an offer, go to the Cashback tab, select the merchant and choose activate this offer. Only one offer can be activated at a time and used as per the frequency applicable.
How much Cashback can I earn?
Depending on your element, you can earn anywhere from 2-6% Cashback (max cashout amount per transaction and minimum transaction amount apply), however, every tier earns $1.00 on Food & Coffee purchases.
Oxygen Elements Tier Cashback
What is the spend requirement for activating the 2% cashback offer on the Earth tier?
Spend $350 within any rolling 30-day period to activate the 2% cashback offer on the Earth tier.
Does the Earth tier offer cashback?
As an Earth tier customer, cashback rewards will not be available until you meet the $350 spend threshold in your Oxygen deposit account. Once the spend requirement is met and you meet all other program requirements you will receive cashback rewards for that period.
What is the Annual Percentage Yield (APY) of the Earth tier?
The savings APY will be increased to 2.10% on September 5, 2023, for the Earth tier with no balance restrictions. Previously, interest was paid on balances of $20,000 or less.
What is the cashback rate for the Water tier?
The cashback rate of the Water tier is 3%.
What is the APY of the Water tier?
The savings APY for the Water tier is 2.20% with no balance restrictions.
What is the cashback rate on the Air tier?
The cashback rate for the Air tier is 4%.
What is the APY of the Air tier?
The savings APY for the Air tier is 2.30% with no balance restrictions.
What is the cashback rate for the Fire tier?
No, the cashback rate on the Fire tier remains at 6%.
What is the APY of the Fire tier?
The savings APY for the Fire tier is 2.40% with no balance restrictions.
Oxygen Day and Rewards Cash out
What is Oxygen Day?
Oxygen Day is a special day that occurs on the 8th day of each month. It is when your cashback earned rewards in the Oxygen app or web platform are automatically moved to your total rewards account that you can then have transferred to your Oxygen Deposit Account.
Can I cash out my rewards on Oxygen Day?
Yes, if you choose to, you can cash out your Oxygen rewards by asking us to transfer them to your Oxygen Deposit Account on Oxygen Day. It's a great opportunity to access the rewards you have accumulated. Note that rewards earned after Oxygen Day will not be included in the total rewards account until the following Oxygen Day.
Are there any minimum thresholds for cashing out rewards on Oxygen Day?
No, there is no minimum threshold in place for personal accounts. As long as your total rewards account is greater than zero, you can cash out the total rewards account anytime after Oxygen Day. Previously, customers needed to earn $10 before being able to cash out their cashback rewards, but this requirement has been removed.
How do I cash out my rewards?
On Oxygen Day, which is the 8th of every month, the cashback earned rewards for the month are moved to your total rewards account. You will receive a push notification informing you of the specific date. Once your monthly rewards are in your total rewards account, you can cash them by transferring the funds to your Oxygen Deposit Account. Note that rewards earned after Oxygen Day will not be included in the cashback earned account until the following Oxygen Day.
What types of rewards are included in my total rewards account?
The total rewards account is a cumulative collection of various types of rewards, including cashback, reimbursement, Ambassador cash bonuses, and referral bonuses. All these rewards contribute to your total rewards account balance. Once your monthly rewards are in your total rewards account, you can cash them by transferring the funds to your Oxygen Deposit Account. Note that rewards earned after Oxygen Day will not be included in the total rewards account until the following Oxygen Day.
Cashback and activation
What reward categories and major brands are eligible for cashback with Oxygen Elements?
Cashback rewards are merchant-specific.
Please find the merchants now available for cashback in the chart below.
*Merchant availability may vary based on your Element tier. Not all merchants are accessible across all tiers. Please refer to your specific tier benefits in the app for the complete list of eligible merchants and associated rewards.
How does the cashback system work?
The cashback rewards are specific to a merchant. Users need to activate each individual merchant, such as Starbucks, each time a merchant promotion is redeemed in order to receive cashback. You can use an activated offer every one to seven days, depending on the specific offer type. Remember to activate a new offer once the previous one has been used.
Do I need to opt into every specific merchant to receive cashback?
Yes, in order to receive cashback from a specific merchant, such as Starbucks, you will need to individually opt into that merchant's offer each time you conduct a transaction with that merchant.
Are there minimum purchase amounts for each cashback category?
Yes, there are minimum purchase amounts associated with each cashback offer. The minimum purchase thresholds have been updated and have changed from what we previously offered. You can refer to the merchant section in the Oxygen app for specific details on the minimum purchase amounts for each category.
How do I activate each individual cashback offer?
Under the system, each individual cashback offer will require separate activation. You will need to activate the offer to start earning cashback for that particular merchant, and once you have conducted a transaction, you will need to activate it again to make another eligible purchase. There are limits as to how frequently each offer may be reactivated.
What are Ambassador rewards?
Ambassador Rewards is a unique Oxygen program. When you become eligible according to your Element tier qualifying annual spend, you will receive a push notification in your app and you can upgrade your Element tier at a discount within 30 days of receiving the push notification. If you do not upgrade within 30 days of receiving the push notification, the discount offer expires, but you may still upgrade at any time by paying the regular Annual Fee.
How do Ambassador rewards work?
To qualify for Ambassador rewards, users need to meet specific spend criteria within a 365-day period for their Elements tier. The spend requirements and rewards differ based on your Elements tier.
What are the spend requirements and rewards for the Ambassador program for each tier?
Spend requirements and rewards for each tier:
Spend: $4,200 within a 365-day period
Ambassador cash bonus: $0
Upgrade discount: 25% discount for upgrading to Water, 10% discount for Air or 5% discount for Fire
Validity: Upgrade discount pricing is available for 30 days, if spend criteria are met.
Spend: $12,000 within a 365-day period
Ambassador cash bonus: $25
Upgrade discount: 25% discount for upgrading to Air, or 10% discount for Fire
Validity: Upgrade discount pricing is available for 30 days if spend criteria are met.
Spend: $18,000 within a 365-day period
Ambassador cash bonus: $50
Upgrade discount: 25% discount for upgrading to Fire tier
Validity: Upgrade discount pricing is available for 30 days if spend criteria are met.
Spend: $25,000 within a 365-day period
Ambassador cash bonus: $150
Upgrade discount: Highest tier achieved, no additional discount or upgrades
What happens if I choose to upgrade my tier using my Ambassador rewards?
If you choose to upgrade your tier using Ambassador rewards, your tier will be upgraded and the 365-day period will reset. You will begin a new cycle in your upgraded tier with all of its associated benefits and rewards. Please note that switching Elements will not initiate a refund for the annual fee previously paid, if any.
What if I decide not to upgrade within the 30-day window?
If you choose not to upgrade your tier after meeting the spend criteria, the offer will expire on the 30th day after we originally notified you. However, you will still receive the cash bonus (if any) for the tier you are in, and you can still continue enjoying the benefits and rewards of your current tier. The 365-day rolling period will not be reset for your current tier.
How does the referral program payout?
For the referral program, the payment will be placed in your cashback earned account until Oxygen Day, which falls on the 8th of every month.
On Oxygen Day, the accumulated balance in your cashback earned account will automatically transfer to your total rewards account, making it available for cashing out into your Oxygen Deposit Account. Note that rewards earned after Oxygen Day will not be included in the total rewards account until the following Oxygen Day.
Banking Services provided by The Bancorp Bank, N.A., Member FDIC. The Oxygen Visa® Debit Card and the Oxygen Visa Business Debit Card is issued by The Bancorp Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.