Credit Cards

Dividend Visa 4% Cash Back on Grocery/GAS First Year Fee Waived!

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  • Nov 15th, 2018 10:03 am
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Deal Addict
Jun 28, 2013
4016 posts
3367 upvotes
YUL/YVR
newt_101 wrote: The 4% is definitely going to attract many people, but I look at it like this:

- Can't use it at Costco
- 4% on $5000 is $200 - many affiliate sites give an amount similar to this as a sign-up offer AND an initial promo rate

The MBNA Rewards World Elite MC is still #1 IMO
I look at it more like 3% "bonus" on $5000 = $150. When there are many no AF cards out there that already give 1%.

And those that need to pay $99 AF = $150 - 99 = only a $51 "welcome bonus" at best.
Provided that you have no problem even meeting the full $5000 spend.

Pass.
Newbie
User avatar
Sep 5, 2016
54 posts
127 upvotes
AdamKing wrote: I look at it more like 3% "bonus" on $5000 = $150. When there are many no AF cards out there that already give 1%.

And those that need to pay $99 AF = $150 - 99 = only a $51 "welcome bonus" at best.
Provided that you have no problem even meeting the full $5000 spend.

Pass.
But this card is FYF now...

And the card is quite good even without the welcome bonus with 4% on grocery and gas.

You can get a lot of extra value by purchasing gift cards at gas stations or grocery stores.
Member
Mar 28, 2016
460 posts
199 upvotes
Calgary, Alberta, Ca…
canadianrewardsnet wrote: But this card is FYF now...

And the card is quite good even without the welcome bonus with 4% on grocery and gas.
Most cards give you 2% on grocery and gas so you only make 2% on those. Without FYF, this card is not a deal. With FYF, it's a warm deal.
Jr. Member
Jan 25, 2017
161 posts
188 upvotes
kr8zyduke wrote: Most cards give you 2% on grocery and gas so you only make 2% on those. Without FYF, this card is not a deal. With FYF, it's a warm deal.
I totally agree with you 100%!

Although at first read this deal sounds good with 4% cash back on all purchases for the first 6 months, when you really look at the big picture it's only really a luke warm deal.

The 4% cash back on all purchases is for the first 6 months OR on the first $5,000 spent on the card, whichever comes first! Also note that gas and grocery purchases made during this time will count towards that $5,000 cap and so by making any gas or grocery purchases during the bonus period would be essentially wasting the bonus period as you would be getting 4% cash back on those purchases anyway. For Tim Hortons and TELUS purchases, you are essentially getting a bonus 2%. For all other purchases, you are essentially getting a bonus 3%.

Let's assume you maximize this deal by spending $5,000 on non-category spend (purchases that normally only get you 1% cash back) = $200 cash back when at 1% you would only get $50 so you gain $150.

Essentially this is a FYF with MAXIMUM welcome bonus of $150 which would require you to spend $5,000 on non-category spend within the first 6 months.

Compare that to the numerous other offers that come and go where you can get FYF and a welcome bonus worth more than $150 and also without having to spend $5,000 on the card within the 1st 6 months.

Right now CIBC is in addition to this offering their Aventura Visa Infinite FYF with 15,000 point welcome bonus on the 1st purchase. 15,000 aventura points are worth $150 AT MINIMUM, and can be worth up to $300!!

Or go an GCR and see that you can get the TD Aeroplan Visa Infinite FYF + 15,000 bonus Aeroplan Miles + $50 GCR cash back.

Now, if you don't travel this CIBC Dividend offer looks better, but wait around with fingers crossed that MBNA will bring back FYF on the MBNA Rewards World Elite MasterCard. I got that this fall, FYF + $100 welcome bonus + $80 cash back on GCR and, of course 2% cash back on all purchases, now that was a deal!
Newbie
Jul 20, 2006
53 posts
6 upvotes
Anybody aware of any welcome bonus / GC to come along with this card?
Penalty Box
Dec 16, 2013
1458 posts
520 upvotes
Mississauga
lorreilme wrote: 4% cash back on all purchases for 6 months is definitely attracted
I have Tangerine credit card that only gave me 4% cash back for 3 months on selected category
You're comparing a free credit card to a 99$ a year credit card? Tangerine trumps this one out of the water anyway. At least you get 2% on categories with tangerine.

Please compare apples to tangerines.
Newbie
Nov 17, 2006
91 posts
66 upvotes
Toronto
Took advantage of this card last year. I loved it, though I've cancelled it right before my one year.

I've paid my whole year of car insurance through the card, accumulating 4 percent and the rest on gas stations and groceries. I believe this and the Scotia card are the only ones that gives 4 percent for the whole purchase at gas stations, ie buying smokes or snacks. I also use it for Loblaws to buy tons of gift cards, which I've used last year.

Couldn't justify the 99 annual fee, other than that I think it's a great card.
Member
May 19, 2013
256 posts
138 upvotes
RigorMortis wrote: I have the CIBC (regular) Dividend VISA (kept the card since its 1 of my oldes) - does CIBC allow existing clients with no annual fee cards to upgrade to the Dividend Infinite with the 5% cashback promotion and no annual fee for the first year?
I asked on chat because I have the double double visa and they said I won't get the first year free.
I have a bit of home improvement purchases coming up so I was going to get the tangerine mastercard but that 4% promo ended so then I was going to get this. But it's not worth it to me to get this card without fyf. I guess the next best thing now is the mbna rewards world elite mastercard.
Banned
User avatar
May 7, 2007
13912 posts
5710 upvotes
I got this one today from CIBC ...

https://www.cibc.com/ca/visa/dividend-p ... -card.html

CIBC Dividend Platinum® Visa* Card

As far as the promo and rewards go ... it's the same (the card is simply easier to get - 15 K vs 60 K income is needed)

Does anyone know with CIBC .. with their Visas ...

As far as Groceries go ... more likely like with MasterCard then ... Grocery Merchants ...

But I think with Visa unlike MasterCard ... -- Walmart is not a grocery merchant, eh?

How about Price Choppers? ... In Winnipeg Price Choppers is a grocery merchant as far as MasterCard is concerned ...

How about with Visa though?

And are there any others significant ones that are grocery merchants with MasterCard but not with Visa?
Deal Addict
Jul 24, 2012
1071 posts
226 upvotes
kochi1984 wrote: Took advantage of this card last year. I loved it, though I've cancelled it right before my one year.

I've paid my whole year of car insurance through the card, accumulating 4 percent and the rest on gas stations and groceries. I believe this and the Scotia card are the only ones that gives 4 percent for the whole purchase at gas stations, ie buying smokes or snacks. I also use it for Loblaws to buy tons of gift cards, which I've used last year.

Couldn't justify the 99 annual fee, other than that I think it's a great card.

I was going to cancel it before 1 year is up and they offered me another year fee waived.
Deal Guru
Dec 11, 2008
13063 posts
3754 upvotes
I may consider this since I have a wedding to pay for. May get 2 lol. And then spend it one groceries the rest of the 6 months after before cancelling since its FYF.

TO clarify, let's say I get the card and spend $5k non-groceries within 2 months and get the 4%, does that mean I get 10 months to get 4% on groceries?
Member
May 26, 2010
431 posts
183 upvotes
Saskatchewan
There are a lot of cards out there that offer good rewards. Depending on how much you spend annually and where the money is spent and what your income is determines the card you should get.

I just did an analysis of a bunch of cards and found the following, in order, to be the best.

With signup bonuses included the list is as follows:

1. WestJet World Elite MC - $250 signup bonus; $99 annual fee; 2% westjet cash back on westjet flights; 1.5% westjet cash on every purchase; $99 annual companion flight; more insurances on travel than other cards (Note this card is of benefits for westjet travel and with another person. If westjet travel is not a goal and cash back is see #2.)

2. Capital One Aspire Travel World Elite - $400 travel dollars signup bonus; $150 annual fee; 2% travel rewards on every transaction or 1.5% in cash back (Note: This card can be used for any type of travel expense from any airline or hotel or travel site and applied directly. The signup bonus of $400 is beneficial)

3. MBNA Rewards World Elite - $100 signup bonus; $89 annual fee; 2% cash back on every transaction which can be applied directly to your bill (Note: This card is debatable the best card on the market. The lower signup bonus is less of an incentive)

4. BMO World Elite - $200 travel signup bonus; $150 annual fee; 2% In travel dollars back (Note: May not even have made the list due to high annual fee and only $200 signup bonus back)

This is my opinion. I heavily use my Capital One World Aspire Cash which isn't offered anymore and was on RFD years ago. 1.5% cash back with $0 annual fee and pretty much every insurance imaginable.

Again my opinion but hope this helps some.
Deal Addict
Feb 10, 2013
4781 posts
1324 upvotes
Richmond
funny enough I never thought Gibo health food store qualified for 4% grocery cashback. According to cibc it does lol. They don't sell anything remotely similar to groceries. Just herbal stuff and asian mushrooms
Deal Addict
Feb 10, 2013
4781 posts
1324 upvotes
Richmond
MountainView11 wrote: I totally agree with you 100%!

Although at first read this deal sounds good with 4% cash back on all purchases for the first 6 months, when you really look at the big picture it's only really a luke warm deal.

The 4% cash back on all purchases is for the first 6 months OR on the first $5,000 spent on the card, whichever comes first! Also note that gas and grocery purchases made during this time will count towards that $5,000 cap and so by making any gas or grocery purchases during the bonus period would be essentially wasting the bonus period as you would be getting 4% cash back on those purchases anyway. For Tim Hortons and TELUS purchases, you are essentially getting a bonus 2%. For all other purchases, you are essentially getting a bonus 3%.

Let's assume you maximize this deal by spending $5,000 on non-category spend (purchases that normally only get you 1% cash back) = $200 cash back when at 1% you would only get $50 so you gain $150.

Essentially this is a FYF with MAXIMUM welcome bonus of $150 which would require you to spend $5,000 on non-category spend within the first 6 months.

Compare that to the numerous other offers that come and go where you can get FYF and a welcome bonus worth more than $150 and also without having to spend $5,000 on the card within the 1st 6 months.

Right now CIBC is in addition to this offering their Aventura Visa Infinite FYF with 15,000 point welcome bonus on the 1st purchase. 15,000 aventura points are worth $150 AT MINIMUM, and can be worth up to $300!!

Or go an GCR and see that you can get the TD Aeroplan Visa Infinite FYF + 15,000 bonus Aeroplan Miles + $50 GCR cash back.

Now, if you don't travel this CIBC Dividend offer looks better, but wait around with fingers crossed that MBNA will bring back FYF on the MBNA Rewards World Elite MasterCard. I got that this fall, FYF + $100 welcome bonus + $80 cash back on GCR and, of course 2% cash back on all purchases, now that was a deal!
Thanks to the cibc offer, I found out one of the shops I frequent actually uses the grocery merchant code despite it not actually being a grocery store but rather call themselves a health food store. They just sell chinese herbal stuff . Some stuff they stock rcss sells, so I guess they can be termed one but strictly speaking they are a what you would term a chinese herbal store that is a wholesaler who takes credit.

I guess the bonus of the deal is to find out which stores you frequent use the grocery merchant code without having to sacrifice an extra %.
Deal Addict
Feb 10, 2013
4781 posts
1324 upvotes
Richmond
the 4% for first 6 months promo is back again.

And a side note, the cibc 4% cashback visas now have their own thread in the credit card board.

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