In this Standing Authorization, the terms “you,” “your,” and “yours” refer to the borrower subject to the Rocket Visa Signature Card Credit Card Cardholder Agreement, powered by Deserve®, and executed with Celtic Bank. By agreeing to the terms of this Standing Authorization, you authorize Rocket Card, LLC, Rocket Money, Inc. and any of their successors, assigns, agents, partners, and/or service providers (“Rocket”) to initiate debit and credit entries, and, if applicable, to correct erroneous entries, to the external deposit account you designate in the Rocket Card Dashboard or Rocket Money app (“Designated Payment Account”) via an electronic fund transfer (“EFT”) through the Automated Clearing House (“ACH”) pursuant to this Standing Authorization for payments you owe under the Rocket Visa Signature Card Credit Card Cardholder Agreement. You authorize Rocket to initiate such entries in accordance with the payment option that you designate in the Rocket Card Dashboard or Rocket Money app for that EFT payment, as described in greater detail below. You understand that the amount and timing of any EFT payment may vary depending on the payment option you designate.
This Standing Authorization will remain in full force and effect until you notify Rocket that you wish to revoke this Standing Authorization by contacting us by email at support@rocketcard.com. You may revoke this Standing Authorization at any time; however, you must notify Rocket at least three (3) business days before any EFT payment is scheduled to occur to prevent the upcoming transaction from processing, unless otherwise noted herein. Rocket reserves the right to terminate this Standing Authorization at any time, for any reason, including but not limited to any breach of this Standing Authorization or your failure to comply with federal and/or state laws or the rules of the National Automated Clearing House Association (“NACHA”). You understand that if you revoke this Standing Authorization, you will still be required to make any required payments due under your Rocket Visa Signature Card Credit Card Cardholder Agreement.
You understand that by providing Rocket with a Designated Payment Account, you certify that you own and are authorized to use the Designated Payment Account for the transactions authorized by this Standing Authorization. To make an EFT payment, you understand that you must have the full payment amount available in your Designated Payment Account on the scheduled payment date for the payment option you select. You further understand that you can change the Designated Payment Account at any time by linking and/or designating a new deposit account in the Rocket Card Dashboard or Rocket Money app and providing Rocket with any required information.
You acknowledge and understand that EFT payments must comply with U.S. law and NACHA rules. If the EFT payment date falls on a weekend or holiday, it will process on the next business day.
If your EFT payment is returned for any reason, including insufficient funds (“NSF”), Rocket may, at its discretion, attempt to process the entry again, if permitted by applicable law and NACHA rules. You authorize Rocket to initiate any entries to your Designated Payment Account for any returned EFT, or to correct any errors. You acknowledge that Rocket may assess a fee for any EFT that is returned, and you authorize Rocket to debit your Designated Payment Account in the amount of the fee if your payment is returned unpaid and you are assessed a fee. You understand that in addition to the fees that Rocket may assess, your financial institution may charge an overdraft or other fees. Rocket is not responsible for any fees assessed by your financial institution.
This Standing Authorization is further subject to the Rocket Family of Companies Privacy Policy and any other agreement or consent to conduct transactions with Rocket electronically.
Payment Options Authorized under this Standing Authorization
Rocket provides you with five (5) different payment options. Each option is described below. By agreeing to these terms, you authorize Rocket to initiate entries in accordance with the option that you have designated in the Rocket Card Dashboard or Rocket Money app. You may designate and change your payment option at any time in the Rocket Card Dashboard or Rocket Money app.
Manual Payments
One-Time Payment: If you create a One-Time Payment, you authorize Rocket to initiate a one-time debit entry from your Designated Payment Account via EFT (a “One-Time Payment”) pursuant to this Standing Authorization. Your Designated Payment Account will be debited in the specific amount that you select for your One-Time Payment immediately or on the future date you specify (see Scheduled Payments). You understand and agree that any One-Time Payment is subject to your Rocket Visa Signature Card Credit Card Cardholder Agreement and all provisions of this Standing Authorization.
Scheduled Payments: If you choose to manually schedule a future payment, you authorize Rocket to initiate a one-time debit entry from your Designated Payment Account via EFT on the date you select (a “Scheduled Payment”) pursuant to this Standing Authorization. Your Designated Payment Account will be debited in the specific dollar amount that you select for your Scheduled Payment on the future date you specify. If the amount you specify for a Scheduled Payment exceeds the “Current Balance” shown in your Rocket Card Dashboard or Rocket Money app on your Rocket Visa Signature Card account on the scheduled date of the Scheduled Payment, Rocket will reduce the amount of the debit entry to equal the “Current Balance” (shown in your Rocket Card Dashboard or Rocket Money app). You understand that you may cancel a Scheduled Payment until 7:59 PM Eastern Time on the day before the Scheduled Payment is scheduled to be withdrawn from your Designated Payment Account. You may not schedule a Scheduled Payment if you have Late Fee Protection, Autopay or SmartPay enabled. You understand and agree that any Scheduled Payment is subject to your Rocket Visa Signature Card Credit Card Cardholder Agreement and all provisions of this Standing Authorization.
Autopay Payments:
If you select the Autopay payment option, you authorize Rocket to automatically initiate regularly scheduled, recurring debit entries each billing period to your Designated Payment Account via EFT in the amounts and on the day of the month you designate in the Rocket Card Dashboard or Rocket Money app (each, an “Autopay Payment” and collectively “Autopay”) pursuant to this Standing Authorization. You understand that the amount of your Autopay Payments may vary depending on the following option you designate:Minimum Payment: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the minimum payment amount referenced in your monthly statement for your Rocket Visa Signature Card account or in the remaining minimum payment, whichever is less.
Statement Balance: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account or in the remaining statement balance amount, whichever is less.
Custom Payment: Each billing period, Rocket will initiate a recurring debit entry from your Designated Payment Account in the “Custom Amount” you select in the Rocket Card Dashboard or Rocket Money app. The Custom Amount you select must fall within the specified range of amounts
between zero and the “Current Balance” shown in your Rocket Card Dashboard or
Rocket Money app on your Rocket Visa Signature Card account at the scheduled time of the Autopay Payment. If the “Custom Amount” you select exceeds the “Current Balance” shown in your
Rocket Card Dashboard or Rocket Money app on your Rocket Visa Signature Card account at
the scheduled date of the Autopay Payment, Rocket will reduce the amount of the debit entry to equal the “Current Balance” (shown in your Rocket Card Dashboard or Rocket Money app).
You acknowledge that no entry will be made if you have no balance on your Rocket Visa Signature Card account on the scheduled date of the Autopay Payment. You further acknowledge and understand that for any Autopay Payment, Rocket will not initiate a debit entry to your Designated Payment Account in an amount that will cause your Rocket Visa Signature Card account to have a credit balance.
You understand that you may turn off or modify Autopay until 11:59 PM Eastern Time on the day before the next Autopay Payment is scheduled to be withdrawn from your Designated Payment Account. You understand and agree that Autopay Payments are subject to your Rocket Visa Signature Card Credit Card Cardholder Agreement and all provisions of this Standing Authorization.
Autopay Cancellation
Rocket reserves the right, in our sole discretion, to cancel your Autopay settings at any time and without prior notice to you. By enrolling in Autopay, you understand and acknowledge that cancellation of your Autopay settings may be automatically triggered by certain events, including but not limited to (and by way of example):
Insufficient funds in the designated payment account;
Issues or errors related to your designated payment method;
Alleged fraudulent or unauthorized transactions; and
Any other issues affecting the processing of your payments.
Should your Autopay settings be cancelled, Rocket will provide you with notice of the cancellation, including information for re-enrolling in Autopay and, if applicable, for updating your Designated Payment Account and/or method(s). In the event your Autopay settings are cancelled as a result of a triggering event, you are responsible for ensuring that all required payments are made in a timely manner.
SmartPayments:
If you select the recurring SmartPay payment option, you authorize Rocket to initiate recurring debit entries to your Designated Payment Account via EFT in an amount and frequency that may vary depending on the selected payment preferences and limits that you select in the Rocket Card Dashboard or Rocket Money app (a “SmartPayment”), including but not limited to, your selected maximum daily payment, your selected minimum account balance of your Designated Payment Account, and your current cash flow. You understand and agree that, subject to your selected payment preferences, Rocket may initiate a SmartPayment in any amount, and at any frequency, subject to a range between a minimum payment of $0.01 and a maximum payment that will not exceed the “Current Balance” shown in your Rocket Card Dashboard or Rocket Money app for your Rocket Visa Signature Card account at the time of the SmartPayment.You further understand that you can change your selected payment preferences for SmartPayments at any time in the Rocket Card Dashboard or Rocket Money app. You understand that you may cancel or skip a SmartPayment until 7:59 PM Eastern Time on the day on which the SmartPayment is scheduled to be withdrawn from your Designated Payment Account. You understand and agree that SmartPayments are subject to your Rocket Visa Signature Card Credit Card Cardholder Agreement and all provisions of this Standing Authorization.
If the total amount of your SmartPayments during the statement cycle is less than the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account, then you authorize Rocket to initiate the “fallback plan” you select in the Rocket Card Dashboard or Rocket Money app. If the total amount of your SmartPayments during the statement cycle is less than the amount of the statement balance referenced in your monthly statement for your Rocket Visa Signature Card account and you have selected a “fallback plan” that directs Rocket, then you authorize Rocket to initiate debit entry(ies) from your Designated Payment Account in the amount selected in your “fallback plan” (“Fallback Payment”). Rocket initiates the Fallback Payment on the business day preceding the payment due date identified in your monthly statement for your Rocket Visa Signature Card account. If you have selected the “Do nothing, but alert me” option for your “fallback plan,” then Rocket will not initiate a debit to your Designated Payment Account. You will still be required to make any required payments due under your Rocket Visa Signature Card Credit Card Cardholder Agreement. You understand that you may (1) modify your Fallback Payment settings until 7:59 PM Eastern Time five days before your statement due date; and (2) cancel or skip a Fallback Payment until 7:59 PM Eastern Time on the day before the Fallback Payment is scheduled to be withdrawn from your Designated Payment Account. You understand and agree that Fallback Payments are subject to your Rocket Visa Signature Card Credit Card Cardholder Agreement and all provisions of this Standing Authorization.
You acknowledge and agree that Rocket may initiate debit entry(ies) from your Designated Payment Account for SmartPayments even if you made other payments between the statement issuance date and the date of the SmartPayment, including if you paid the “Minimum Payment” or “Statement Balance.” You acknowledge that no entry will be made if you have no balance on your Rocket Visa Signature Card account. You further acknowledge and understand that Rocket will not initiate a debit entry to your Designated Payment Account in an amount that will cause your Rocket Visa Signature Card account to have a credit balance.
Late Fee Protection:
If you select the Late Fee Protection payment option, you authorize Rocket to automatically initiate regularly scheduled, recurring debit entries each billing period to your Designated Payment Account in the minimum payment amount referenced in your monthly statement for your Rocket Visa Signature Card account or in the amount of the remaining minimum payment, whichever is less, on a date that is one calendar day before the payment due date shown on your monthly statement (each, a “Late Fee Protection Payment” and collectively “Late Fee Protection”) pursuant to this Standing Authorization. You acknowledge that no entry will be made if Rocket has received the minimum payment amount referenced in your monthly statement by 11:59 PM Eastern Time on a date that is two calendar days before the payment due date shown on your monthly statement. You further acknowledge that no entry will be made if you have no balance on your Rocket Visa Signature Card account on the scheduled date of the Late Fee Protection Payment. You further acknowledge and understand that for any Late Fee Protection Payment, Rocket will not initiate a debit entry to your Designated Payment Account in an amount that will cause your Rocket Visa Signature Card account to have a credit balance. You may revoke this Standing Authorization for the Late Fee Protection payment option at any time; however, you understand that in order to cancel your next Late Fee Protection Payment, you must turn off Late Fee Protection by 11:59 PM Eastern Time on the day before the next Late Fee Protection Payment is scheduled to be withdrawn from your Designated Payment Account.Please print or save a copy of this Standing Authorization for your records. Alternatively, contact Rocket at support@rocketcard.com to learn how you can obtain a copy.