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[CIBC] CIBC Dividend Visa Card - FYF & 4% CB Gas and Grocery

  • Last Updated:
  • Aug 14th, 2018 1:20 pm
[OP]
Jr. Member
User avatar
Oct 13, 2017
184 posts
298 upvotes
Halifax

[CIBC] CIBC Dividend Visa Card - FYF & 4% CB Gas and Grocery

The title says it all, I got this offer through FB, an alternative for Scotia Bank Visa card.

Earn 4% cash back on gas and grocery, 2% on Tim Hortons and Telus, 1% on other..

https://www.cibc.com/en/special-offers/ ... cards.html

Fine print:

The cash back is accumulated each month, beginning with the January Visa statement, and awarded at the end of the year as a credit on the December statement. Credit card account must be open and in good standing at the time the cash back is awarded.

You are eligible for this annual fee rebate offer only if you apply and are approved for your first CIBC credit card. If you are a current or former CIBC cardholder, we may approve your application but you will not be eligible for the offer.

You must apply and be approved for a new eligible card between July 1, 2018 and October 31, 2018 to qualify for this offer.
38 replies
Member
Aug 21, 2005
327 posts
216 upvotes
North York, ON
$99 annual fee after the first year. Gotta buy a lot of gas/groceries to make it worth that.
Sr. Member
Oct 14, 2014
633 posts
602 upvotes
Southern Ontario
smd wrote: $99 annual fee after the first year. Gotta buy a lot of gas/groceries to make it worth that.
Well, my wife and I each had the no-AF Dividend card before. Together we would net max $150/yr in cashback. Once we consolidated on a Dividend Platinum/Infinite, we've netted over $500 each year above the AFs ($99 for primary card, and $30 for the supplementary). Granted it doesn't make sense for everyone, but it certainly can for some.
Last edited by lefroset on Aug 13th, 2018 8:53 am, edited 1 time in total.
Deal Addict
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Aug 4, 2008
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smd wrote: $99 annual fee after the first year. Gotta buy a lot of gas/groceries to make it worth that.
$80-$100 annual fees are pretty standard for higher end rewards cards so I don't see this being any different than those.
Jr. Member
User avatar
Aug 22, 2015
189 posts
167 upvotes
Longueuil, qc
It's not that hard. I live alone and I get around $250-300/year with my Scotia Momentum Visa Infinite card, which I use only for the 4% gas & groceries and 2% recurrent bills & drugstores (I have a 1.5% card for the rest). If you use your car to go to work, and if you buy groceries for your household, it's easily worth the premium over the free cards (which typically give back 2% on g&g).

That said, this card is not the best deal around. I strongly recommend going to the "Credit Cards" sub-forum on the "Personal Finance" section of this message board to find out which cards are best for you.
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Feb 16, 2009
3505 posts
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'Shwallywood
I have the platinum card, its alright. I make back more than my annual fee, but as I am only spending like 10-15% of my total CC spending, it doesn't yield a massive amount back.
Last edited by nellium on Aug 13th, 2018 2:22 pm, edited 1 time in total.
I don't fail, I succeed at finding what doesn't work
Sr. Member
Oct 14, 2014
633 posts
602 upvotes
Southern Ontario
nellium wrote: fyi
I have the platinum card, its alright. I make back more than my annual fee, but as I am only spending like 10-15% of my total CC spending, it doesn't yield a massive amount back.
That $6,000 cash back condition is for the no-AF Dividend, not the Platinum or Infinite. Here's the one for Platinum/Infinite:
1 Earn 4% cash back on purchases (less returns) at merchants classified by the credit card network as grocery stores or service stations/automated gas dispensers. Earn 2% cash back on purchases (less returns) at merchants identified as Tim Hortons or TELUS merchants by the merchant payment terminal. Some Tim Hortons and/or TELUS locations may be identified as other merchants by the merchant payment terminal. All other purchases earn 1% cash back. The 4% and 2% cash back offers are only available on the first $80,000 in net annual card purchases (meaning all card purchases by all cardholders, at any type of merchant) or $20,000 on gas, grocery, Tim Hortons or TELUS purchases on your account, whichever comes first; after that, net card purchases at all merchants, including grocery stores, service stations/automatic gas dispensers, Tim Hortons or TELUS will earn cash back at the regular rate of 1%. The $80,000 limit and the $20,000 limit will reset to zero after the day your December statement is printed.
Sr. Member
Jun 19, 2015
778 posts
696 upvotes
If you're planning on big purchases at Amazon, Best Buy, Canadian Tire etc etc, grab gift cards at a grocery store so you can get 4% back on lots more. I made almost $500 last year from this card.
Jr. Member
Dec 18, 2017
132 posts
81 upvotes
Would I need to pay the annual fee on Jan 1, 2019 or is it a year after I get the card?
Sr. Member
Jan 31, 2018
672 posts
1137 upvotes
Winnipeg
saberon2016 wrote: If you're planning on big purchases at Amazon, Best Buy, Canadian Tire etc etc, grab gift cards at a grocery store so you can get 4% back on lots more. I made almost $500 last year from this card.
So much this, I can't believe more people don't use this strategy. I don't always use it for spontaneous or small purchases, but I always have at least a couple of hundred bucks in Amazon gift cards purchased from the supermarket at 4% CB. My CB for this year with the Scotiabank variant of the card is at $650 and I still have 3 months to collect.
Member
Aug 21, 2005
327 posts
216 upvotes
North York, ON
lefroset wrote: Well, my wife and I each had the no-AF Dividend card before. Together we would net max $150/yr in cashback. Once we consolidated on a Dividend Platinum/Infinite, we've netted over $500 each year above the AFs ($99 for primary card, and $30 for the supplementary). Granted it doesn't make sense for everyone, but it certainly can for some.
Sure, that can be true. That's why I said you need to buy a lot of gas/groceries. "A lot" differs for different people. For some it'll be worth it, for others not. It just wasn't mentioned in the original post, which is why I clarified that fact, that's all.
Deal Guru
Oct 30, 2006
14709 posts
4117 upvotes
OneAndTrueHeir wrote: So much this, I can't believe more people don't use this strategy. I don't always use it for spontaneous or small purchases, but I always have at least a couple of hundred bucks in Amazon gift cards purchased from the supermarket at 4% CB. My CB for this year with the Scotiabank variant of the card is at $650 and I still have 3 months to collect.
Besides not knowing about it, some stores may restrict large gift card purchases, plus there's always the chance of being scammed.

Amazon is fine though since you can load it to your account right away.
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Sr. Member
Oct 14, 2014
633 posts
602 upvotes
Southern Ontario
saberon2016 wrote: If you're planning on big purchases at Amazon, Best Buy, Canadian Tire etc etc, grab gift cards at a grocery store so you can get 4% back on lots more. I made almost $500 last year from this card.
I didn't clue into this until RCSS recently started doing offers on gift cards, such as receiving a $10 Loblaws GC for every $50 of whatever GC is on offer that week or month. I should have known better, considering this is a direct parallel (albeit more simple) to what is all the rage with people buying PayPower MasterCards on their Amex Cobalt cards.
Sr. Member
Jan 31, 2018
672 posts
1137 upvotes
Winnipeg
Lone_Prodigy wrote: Besides not knowing about it, some stores may restrict large gift card purchases, plus there's always the chance of being scammed.
Small sample size of just me, but I've never had an issue at Superstore. Their cashiers will sell you *anything* in *any quantity*, and their customer service bends over backwards with any purchase problems so long as you have the receipt.
smd wrote: Sure, that can be true. That's why I said you need to buy a lot of gas/groceries. "A lot" differs for different people. For some it'll be worth it, for others not. It just wasn't mentioned in the original post, which is why I clarified that fact, that's all.
The habit to get into is *everything* goes on the credit card. I use less than $1000 of cash and Interac each year, and Hydro is my only 'cash' bill. Everything else is credit, paid in full at the end of the month, never paid interest, received many thousands in cash back.
Newbie
Jul 20, 2018
4 posts
Montreal
Usually annual fees are charged on your first statement. Since there's no annual fee you won't pay anything until next August or September depending when you apply and when your first statement is printed.

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