Step Black Terms and Conditions

Terms & Conditions

  1. Annual Subscription Fee. By enrolling in an annual subscription for Premium Rewards by paying a non-refundable annual subscription fee (“Step Black”), you are authorizing us to charge your Step Account in the amount of the annual fee as disclosed in the App. When you enroll in Step Black, the annual subscription will automatically renew every year on the day of the anniversary of your first subscription (“Renewal Date”). The subscription fee is non-refundable and the annual subscription fee will be deducted from your Step Account each Renewal Date unless you give us notice to cancel prior to the Renewal Date.

  2. Eligibility. Step Black is available to Step users who are thirteen (13) years or older.

  3. Step Black Rewards. Step Black users are eligible to earn Premium Rewards. In addition to earning these rewards and being provisioned with a black metal card, certain additional benefits may be provided to Step Black users, including elevated rewards (e.g., higher multiplier on points) and certain partner perks as featured in the App or our Website. Separate terms and conditions for partner perks may apply. More information on partner perks can be found here.

  4. Cancellation and Renewal. Subsequent to enrolling in Step Black, you will qualify for the Step Black Rewards from the day you subscribe and continuing for a period of twelve (12) months, and subsequently for additional twelve (12) month periods unless you cancel your membership prior to the yearly Renewal Date. You can cancel your renewal anytime by providing notice to or by reaching customer support within the App. Upon cancellation, your benefits will continue through the remainder of the then-current subscription period. Cancellation of your Step Black subscription will not impact your credit score.

Rules and Disclaimers

  1. 8x points on purchases up to a max of $6000 annually with select Step Black Partners. After hitting the max, you will continue to earn standard points multipliers (3x on dining/food delivery and charitable donations, 2x on entertainment, 1x on everything else).

  2. Your Step deposit account is not an interest bearing product. The savings percentage is not interest, but instead earned as cash rewards directly funded and managed by Step. The rewards, if calculated as an APY, would be 5.00%. This percentage is variable and may change over time. See our Step Premium Rewards terms for more detail. 

  3. Ability to earn $100+ in the form of credits on purchases or statement credits for purchases with select Step Black partners, as will be advertised. Enrollment may be required.

  4. Membership will be offered first to waitlist entries based on tier status on the waitlist. First tier recipients are Step Account user enrolled in direct deposit (from an employer or payroll provider). Second tier recipients are Step Account users that have made at least one transaction on their account. Third tier recipients are Step Account users that have funded the account at least once since account opening. Fourth tier recipients are users that have an active sponsored or individual Step Account. Fifth tier recipients are user that have signed up for a Step Account but have not yet been sponsored or verified their account. The last tier recipients are non-Step users. In order to order your Step Black card once you are selected from the waitlist, you must have a valid, active Step Account. Membership is available to Step users who are thirteen (13) years and older. If under 18, your account must be sponsored. The available number of selections from the waitlist is subject to change.

  5. All deposits are held by Evolve Bank & Trust, member FDIC. Through Evolve’s Sweep Network, Step Black users are eligible for up to $1,000,000 in FDIC insurance coverage. Learn more at LINK