Credit Cards

CIBC Petro-Points MC will be replaced with Dividend (Platinum) Visa

  • Last Updated:
  • Nov 18th, 2023 8:53 am
Tags:
None
Sr. Member
User avatar
Jun 6, 2009
623 posts
157 upvotes
Got the basic version. Called to get the platinum version with no annual fee. No go. Don't do any other banking with CIBC.
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)
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.
Deal Fanatic
User avatar
Sep 7, 2004
9135 posts
7088 upvotes
West GTEH!
Anyone receive their new Dividend Visa card? Almost end of April.
😎
Sr. Member
User avatar
Aug 9, 2005
978 posts
520 upvotes
Webhead wrote: Anyone receive their new Dividend Visa card? Almost end of April.
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.
Member
User avatar
Aug 9, 2014
385 posts
247 upvotes
Ottawa, ON
dokechi wrote: 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.
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.
Deal Fanatic
User avatar
Sep 7, 2004
9135 posts
7088 upvotes
West GTEH!
dokechi wrote: 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.
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.
😎
Sr. Member
User avatar
Aug 9, 2005
978 posts
520 upvotes
razrez wrote: 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.
From the letter:
"You will automatically start earning cash back in May and your replacement card will arrive shortly after that date"
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.
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.
Deal Fanatic
User avatar
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.
Deal Fanatic
User avatar
Sep 7, 2004
9135 posts
7088 upvotes
West GTEH!
dokechi wrote:
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.
That might be an idea to try. 2 cents/L discount and cb. Might try this for 1 transaction after the changeover date.
😎
Newbie
User avatar
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.
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.
Deal Fanatic
User avatar
Sep 7, 2004
9135 posts
7088 upvotes
West GTEH!
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.
Thanks for the info. Will see if I receive this Petro-Canada letter.
So, you use the PP card as normal and make statement payments to CIBC as usual, nothing changes?
😎
Newbie
User avatar
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.
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??
Sr. Member
User avatar
Aug 9, 2005
978 posts
520 upvotes
denny82 wrote: 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 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.
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.

Top