CIBC dividend visa now offering 2% cash back on groceries
- Last Updated:
- Mar 15th, 2017 12:44 am
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- SCORE
- looking4deals1
- Sr. Member
- Jan 3, 2013
- 919 posts
- 475 upvotes
- Mississauga
- Damed
- Deal Addict
- Dec 23, 2006
- 3011 posts
- 848 upvotes
Same. Called in and upgraded my regular Dividend card to this. Get the 4% promo and the first year waived. Dividend card was always the "backup" card (as we've had it for 20 years almost, it's got a crazy credit limit). Scotia visa momentum and scotia gold amex are primary cards.
- saberon2016
- Deal Addict
- Jun 19, 2015
- 1294 posts
- 1512 upvotes
Got my first statement today and I'm confused as hell, hoping someone else can check theirs...
95% of purchases I put on the card were grocery and gas totaling $694
There is a little arrow on the bill that says (Identifies Cash Back Multiplier transactions that have earned enhanced cash back rewards.) This little arrow is only on about 6 of the 30 transactions that I made, even though I only went to 2 different grocery stores.
Example....Extra Foods 4.88 (No arrow)
Extra Foods 15.00 (No arrow)
Extra Foods $21.27 (Arrow)
All 3 Extra Foods are the same store. I've attached a picture to show with the store #'s blanked out, but they are all the same store #. HOWEVER! I got $26.55 cashback this month which tells me I'm getting 4% back on all those purchases even though my bill doesn't state that. Can anyone else check their statement and see if they see the same thing? This is really annoying in regards to finding out which stores will give me 4% and which will not.
https://dl.dropboxusercontent.com/u/555 ... nfused.jpg
95% of purchases I put on the card were grocery and gas totaling $694
There is a little arrow on the bill that says (Identifies Cash Back Multiplier transactions that have earned enhanced cash back rewards.) This little arrow is only on about 6 of the 30 transactions that I made, even though I only went to 2 different grocery stores.
Example....Extra Foods 4.88 (No arrow)
Extra Foods 15.00 (No arrow)
Extra Foods $21.27 (Arrow)
All 3 Extra Foods are the same store. I've attached a picture to show with the store #'s blanked out, but they are all the same store #. HOWEVER! I got $26.55 cashback this month which tells me I'm getting 4% back on all those purchases even though my bill doesn't state that. Can anyone else check their statement and see if they see the same thing? This is really annoying in regards to finding out which stores will give me 4% and which will not.
https://dl.dropboxusercontent.com/u/555 ... nfused.jpg
- McMaggot
- Deal Addict
- Aug 4, 2003
- 3009 posts
- 1629 upvotes
If you look at the category before the amount, it seems to be placing them in appropriate one. I guess its probably programming error in code that inserts the up arrow.
- saberon2016
- Deal Addict
- Jun 19, 2015
- 1294 posts
- 1512 upvotes
That's what I'm hoping since my cashback total is correct (Well within 0.20 of what I estimated..good enough!) Seeing as how the 4% system is new for the CIBC card, I guess they have a few glitches to work out...would definitely like to see someone else's statement just for my own curiosity, but I certainly appreciate the helpful reply Mcmaggot!
- aadil037
- Newbie
- Nov 23, 2012
- 92 posts
- 445 upvotes
- MISSISSAUGA
http://www.redflagdeals.com/cashback/
If you select the Scotia Momentum Infinite and get redirected from RFD you can earn $40 cash back if your application has been approved. Just keep in mind you only get a payout once you have collected $50+.
- Justin
- Deal Addict
- Oct 5, 2003
- 3922 posts
- 305 upvotes
I called CIBC to switch to the Visa Infinite and was told that I would have been eligible for the promotion but my CIBC account said I was a student and therefore the promotion didn't show up. I haven't been a student for over 5 years so he removed it but the promotion didn't appear. That sucks. Didn't realize it was important to notify CIBC Visa that I was no longer a student. I guess the various CIBC departments don't communicate because I have a mortgage from CIBC and the mortgage department definitely knows I am employed and not a student.
He suggested I apply for the card but I don't need 2 cards from CIBC, I don't need a useless credit check, and I don't want to cancel my original Dividend card with 10 years of credit history. Fail.
He suggested I apply for the card but I don't need 2 cards from CIBC, I don't need a useless credit check, and I don't want to cancel my original Dividend card with 10 years of credit history. Fail.
- Darkman
- Banned
- May 7, 2007
- 13912 posts
- 5710 upvotes
Link for the card in OP:
https://www.cibc.com/ca/visa/dividend-card.html
It's basically the same thing, exactly the same thing, as RBC 2% Cash Back MC ....
C / P:
2% - 2% cash back on your first $6,000 in net annual grocery purchases (after 6,000 spent on grocery purchases at grocery merchants, it more likely becomes 1% cash back)
0.5% - 0.5% cash back on the first $6,000 in annual purchases
1% - 1% cash back on all other annual purchases over $6,000
https://www.cibc.com/ca/visa/dividend-card.html
It's basically the same thing, exactly the same thing, as RBC 2% Cash Back MC ....
C / P:
2% - 2% cash back on your first $6,000 in net annual grocery purchases (after 6,000 spent on grocery purchases at grocery merchants, it more likely becomes 1% cash back)
0.5% - 0.5% cash back on the first $6,000 in annual purchases
1% - 1% cash back on all other annual purchases over $6,000
- fenomenon
- Member
- Jun 26, 2007
- 464 posts
- 99 upvotes
- GTA
I got per-approval for this card in the mail and I checked rfd immediately to see if this is a good deal! =) Good thing I did bc I didn't notice the max $5000 purchase for the first 6 months promo offer.
1) My current CIBC Dividend card is my oldest credit card and I only keep it to maintain the age of my credit history. If I switch over to this new platinum VISA does the age of my account change?
2) Don't plan to keep this card after 1 year. What no-fee card can I switch to after promo is over? Can I switch back to the no fee dividend card?
1) My current CIBC Dividend card is my oldest credit card and I only keep it to maintain the age of my credit history. If I switch over to this new platinum VISA does the age of my account change?
2) Don't plan to keep this card after 1 year. What no-fee card can I switch to after promo is over? Can I switch back to the no fee dividend card?
- fenomenon
- Member
- Jun 26, 2007
- 464 posts
- 99 upvotes
- GTA
Also another question I have: If I'm pre-approved for this card does that mean CIBC will not do a hard credit check when I switch over to the Platinum VISA?
- saberon2016
- Deal Addict
- Jun 19, 2015
- 1294 posts
- 1512 upvotes
1) It did for me when i switched from Classic to Dividend in 2010
2) Yes
3) Pre Approved = No hard hit
2) Yes
3) Pre Approved = No hard hit
- gogoblender
- Deal Addict
- Oct 7, 2012
- 2005 posts
- 696 upvotes
- Montreal
How do they pay the cash back
monthly?
or can we just redeem it instantly online like with MBNA or Capital One >?
monthly?
or can we just redeem it instantly online like with MBNA or Capital One >?
- saberon2016
- Deal Addict
- Jun 19, 2015
- 1294 posts
- 1512 upvotes
Deposited onto the CC as a payment on the Dec statement
- 513263337
- Deal Addict
- Apr 10, 2010
- 1398 posts
- 208 upvotes
I found two people mentioning that there is still a hard check even if you are pre-approved from CIBC. And I called them and confirmed it as well. Be aware.
- cbt123
- Deal Addict
- Oct 24, 2009
- 2477 posts
- 1102 upvotes
1) You can make product changes as much as you like and it doesn't affect the age of your account on your credit report. Dividend is also my oldest card (had it since I was 18) and I've switched to Aerogold and back to dividend (before the annual fee was charged) probably a half dozen times since opening. It still shows up in my credit report with the date I initially opened it. They also don't do credit checks for product changes since your credit limit stays the same.fenomenon wrote: ↑I got per-approval for this card in the mail and I checked rfd immediately to see if this is a good deal! =) Good thing I did bc I didn't notice the max $5000 purchase for the first 6 months promo offer.
1) My current CIBC Dividend card is my oldest credit card and I only keep it to maintain the age of my credit history. If I switch over to this new platinum VISA does the age of my account change?
2) Don't plan to keep this card after 1 year. What no-fee card can I switch to after promo is over? Can I switch back to the no fee dividend card?
2) Yes, you can switch back to the no fee dividend. I'm doing the exact same thing. The 4% promo basically makes me an extra $100 over using my 2% C1 Aspire for $5000 in spending, afterwards I'll switch back to the no fee card.
- fenomenon
- Member
- Jun 26, 2007
- 464 posts
- 99 upvotes
- GTA
- 513263337
- Deal Addict
- Apr 10, 2010
- 1398 posts
- 208 upvotes
Yes, really.
And you can see it coming just by looking at the webpage after you click the link they give you. It says "Apply" everywhere. Usually it would say "Accept" when there is no more credit check. Which tells you this pre-approval from CIBC is nothing more than a personalized invitation for you to APPLY for the card, subject to the regular credit check and approval process.
EDIT
To add more, so far my experience has been (in case this helps others in the future):
TD, Scotiabank: pre-approved means no hard credit check
RBC, CIBC: pre-approved means still hard credit check
BMO: not sure
- Shawguy
- Deal Addict
- Dec 17, 2008
- 2781 posts
- 2300 upvotes
- Winnipeg
I don't know about CIBC but I've been told that Scotia will reduce your rewards to the lower level when you switch from the premium card to the no fee card before the payout month, so I don't know if it's the same with CIBC, or do you get to keep your accumulated cashback even when switching tiers of the same card?
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- gogoblender
- Deal Addict
- Oct 7, 2012
- 2005 posts
- 696 upvotes
- Montreal
- fenomenon
- Member
- Jun 26, 2007
- 464 posts
- 99 upvotes
- GTA
I called to upgrade to the card. The rep says there is NO hard credit check. On my upgrade letter though, it says I must accept the pre-approval by either mail, call or fax the enclosed application. No where did it list a website. Not sure if there is any difference with what any of you experience though.
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