One Card Users Earn Largest-Ever Rebate for Third Straight Year

For the third straight year, the annual CFC U.S. Bank One Card rebate has set a new record and nearly crossed the $3 million mark. The 460 CFC and NCSC users earned a collective rebate of $2,829,768—surpassing the 2022 best by more than $410,000—for the most recent plan year, which ended Aug. 31. 

“The record-breaking rebate can be attributed to adding new members to the program, which increased the overall charge volume,” One Card Program Administrator Stacy Bilal said.

Rebates Distributed in Mid-November 

CFC staff distributed the rebates—prorated based on card use—in mid-November. Most systems received their payment via ACH, or automated clearinghouse, while those not signed up for ACH received a check. 

To earn a rebate, One Card had to generate an aggregate annual charge volume of at least $20 million with an average transaction size of at least $120. The portfolio continued to significantly exceed these requirements with annual charge volume of more than $205 million, a $29 million increase from the previous plan year.