Got the basic version. Called to get the platinum version with no annual fee. No go. Don't do any other banking with CIBC.
CIBC Petro-Points MC will be replaced with Dividend (Platinum) Visa
- Last Updated:
- Nov 18th, 2023 8:53 am
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- SCORE+1
- KDSet
- Sr. Member
- Jun 6, 2009
- 623 posts
- 157 upvotes
- rudyzhou2
- Member
- Dec 5, 2009
- 290 posts
- 124 upvotes
- GTA
https://www.cibc.com/en/personal-bankin ... -card.html
Limited time offer on the 4/4/1, first year free!
Limited time offer on the 4/4/1, first year free!
- dobyblue
- Newbie
- Oct 27, 2009
- 74 posts
- 18 upvotes
Pretty sure the additional $0.02/litre savings ends either this month or next month. It does look like Petro are going to have an annoucement on a similar offer with a different vendor coming up in the next few months but once I've paid my April bill I'll be cancelling this CIBC card as the only thing I use it for is the 2c/l savings at Petro (which is $0.88c off 44L tank, lol)
- golfcraze
- Member
- Jul 10, 2007
- 490 posts
- 505 upvotes
- Edmonton
Got a letter stating that they will be replacing the Petro Canada MC with the CIBC Dividend card. Lame! I already have that credit card. Guess I'll have to cancel this card soon so they don't send me the Dividend card. Hopefully Petro Canada comes up with something new soon.
- Webhead
- Deal Fanatic
- Sep 7, 2004
- 9135 posts
- 7088 upvotes
- West GTEH!
Anyone receive their new Dividend Visa card? Almost end of April.
- CollegeGraduate
- Banned
- Aug 19, 2016
- 1903 posts
- 762 upvotes
- dokechi
- Sr. Member
- Aug 9, 2005
- 978 posts
- 520 upvotes
No here as well, but the letter does say May 4 is the changeover (someone at CIBC is a star wars fan?), so it could be as late as early next week it arrives. I would hope the cards are valid at least until that date regardless of when the replacement actually arrives.
I don't downvote. Why? Karma.
- razrez
- Member
- Aug 9, 2014
- 385 posts
- 247 upvotes
- Ottawa, ON
From the letter It seems to me that the Petro-Point MC will earn cashback like the new card until you activate the new card.
- Webhead
- Deal Fanatic
- Sep 7, 2004
- 9135 posts
- 7088 upvotes
- West GTEH!
My letter said May 19 is the changeover date.
I would guess CIBC would've started sending out the new cards already.
Oh, well. When it gets here, it gets here.
- dokechi
- Sr. Member
- Aug 9, 2005
- 978 posts
- 520 upvotes
From the letter:
Yeah, I guess that sounds about right, except the logistics would be weird, especially considering you'd be earning cashback on a visa using a MC. I'm tempted to try out the old card after the date to see if the discount would get applied and I get the cash back."You will automatically start earning cash back in May and your replacement card will arrive shortly after that date"
In any case, if we get the cashback, even using the old card, is there any real reason not to keep using it until it expires?
I don't downvote. Why? Karma.
- ricedion
- Deal Fanatic
- Apr 10, 2003
- 6610 posts
- 1979 upvotes
- Toronto
Called CIBC and refused to be swithed to their dividend card. Asked if they can switch me over to AVentura business card (current offer FYF and 25K welcome bonus). Rep needed to ask for approval from supervisor, but able to switch me over and also no first year fee with bonus miles.
- Webhead
- Deal Fanatic
- Sep 7, 2004
- 9135 posts
- 7088 upvotes
- West GTEH!
- BartBandy1917
- Newbie
- May 2, 2017
- 2 posts
- 1 upvote
I'm a long-term CIBC Petro-Points customer and was very disappointed to receive the second letter. I see myself as a member of Petro-Points, not CIBC.
Good news - I just got a letter from Petro-Canada saying that if we do NOT activate the replacement Dividend card, your CIBC Petro-Points card will continue to work at Petro-Canada outlets, continuing to give Petro-Points and 2 cents off per litre. It says the card will continue to work elsewhere but will not earn any rewards. The card is being extended till Aug. 19, at which point they will be "announcing an exciting new partnership with another Canadian bank, which will provide the opportunity for even greater benefits to you as a Petro-Points member." It stresses that if you activate the new replacement card from CIBC, the Petro-Points card will immediately cease to work.
FWIW, I acquired a PC Financial World Elite card as a replacement until I saw what Petro-Canada does next. If the new program's rewards are better, I may sign up and keep both.
Good news - I just got a letter from Petro-Canada saying that if we do NOT activate the replacement Dividend card, your CIBC Petro-Points card will continue to work at Petro-Canada outlets, continuing to give Petro-Points and 2 cents off per litre. It says the card will continue to work elsewhere but will not earn any rewards. The card is being extended till Aug. 19, at which point they will be "announcing an exciting new partnership with another Canadian bank, which will provide the opportunity for even greater benefits to you as a Petro-Points member." It stresses that if you activate the new replacement card from CIBC, the Petro-Points card will immediately cease to work.
FWIW, I acquired a PC Financial World Elite card as a replacement until I saw what Petro-Canada does next. If the new program's rewards are better, I may sign up and keep both.
- macsp
- Member
- Aug 13, 2007
- 305 posts
- 19 upvotes
The letter I received says the cut over is on May 9. The offer is 4% on gas (up to $6000 spend), 2% on grocery (up to $6000 spend) and 0.5% all other (up to $6000 spend). 1% on all after $6000. I wanted a Visa with NO annual fee. It appears that they offered different rates everyone, don't know why. I did spend a lot on this PP MC, but won't do that going forward since I now have the Capital One Aspire World Elite. I may try to get something better than they offered or else will just accept till something better comes up.
- Webhead
- Deal Fanatic
- Sep 7, 2004
- 9135 posts
- 7088 upvotes
- West GTEH!
Thanks for the info. Will see if I receive this Petro-Canada letter.BartBandy1917 wrote: ↑ I'm a long-term CIBC Petro-Points customer and was very disappointed to receive the second letter. I see myself as a member of Petro-Points, not CIBC.
Good news - I just got a letter from Petro-Canada saying that if we do NOT activate the replacement Dividend card, your CIBC Petro-Points card will continue to work at Petro-Canada outlets, continuing to give Petro-Points and 2 cents off per litre. It says the card will continue to work elsewhere but will not earn any rewards. The card is being extended till Aug. 19, at which point they will be "announcing an exciting new partnership with another Canadian bank, which will provide the opportunity for even greater benefits to you as a Petro-Points member." It stresses that if you activate the new replacement card from CIBC, the Petro-Points card will immediately cease to work.
FWIW, I acquired a PC Financial World Elite card as a replacement until I saw what Petro-Canada does next. If the new program's rewards are better, I may sign up and keep both.
So, you use the PP card as normal and make statement payments to CIBC as usual, nothing changes?
- BartBandy1917
- Newbie
- May 2, 2017
- 2 posts
- 1 upvote
Yes, that's my understanding - it said you can use it at PetroCan and earn Petro-Points but you won't earn them elsewhere. It didn't explicitly say you could use it elsewhere, but I imagine you can. You may have to try and see. I'm not going to bother - I have the PCF card to use elsewhere and really only care about the 2 cents/litre and PetroPoints.
- denny82
- Newbie
- Aug 17, 2015
- 13 posts
- 1 upvote
If it's not going to be the Dividend Platinum, I think it's best to wait and see what Petro Canada offers in the summer....and in the meantime, continue using the PP MC until August. I only use my PP MC to get PP to keep loading my PP 10 cent card. 12 cents off a litre these days is great. Haven't crunched the numbers to see if the new CIBC Dividend card with it's 4% cash back on gas is a better deal. Maybe someone out there has??
- dokechi
- Sr. Member
- Aug 9, 2005
- 978 posts
- 520 upvotes
dokechi wrote: ↑ The RFDer in me is calculating that gas needs to go down to $0.50 for the $.02 to become equal to the 4% off, and that's on top of the freedom to go to any gas station & grocery store. Alternatively, even if the new Petro Card gave us $0.04/L, it would only be a better deal if gas stays below $1.00/L. So... I guess there's no comparison?
I don't downvote. Why? Karma.
- sliktrader
- Newbie
- Jan 20, 2010
- 82 posts
- 9 upvotes
Webhead, you mentioned being an imperial service client. Do you not have 100K+ in investments with the bank? Thats my understanding of what an Imperial Service client is supposed to be as defined by the bank. Could this be a possible reason? Seems strange they have 3 different offers, wonder what the rationale was.
- sliktrader
- Newbie
- Jan 20, 2010
- 82 posts
- 9 upvotes
Oh, and my card got mailed out May 4th as an FYI