[CIBC] CIBC Rewards 10% off on Costco Gift Card

May 23rd, 2020 9:51 am

#1

JaspreetK35853 [OP]: Newbie; Jun 28, 2018; 31 posts; 18 upvotes

May 23rd, 2020 9:51 am

[CIBC] CIBC Rewards 10% off on Costco Gift Card

Deal Link:: https://rewards.cibcrewards.com/Shop/De ... ry?s=30120
Savings:: 10%
Expiry:: June 12, 2020
Retailer:: CIBC

CIBC rewards normally offers cards at 14000 points. There is an offer for Costco, Sobeys gift cards to be purchased for 12600 points (10% off)

Offer expires 12 June.

I have added the URL but it requires you to login. Adding image as well for reference.

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May 23rd, 2020 10:13 am

#2

Abhish3k: Jr. Member; Oct 4, 2019; 105 posts; 142 upvotes

May 23rd, 2020 10:13 am

Is this only for Aventura range of cards?
I have a platinum dividend card and it does not have the concept of points, just cash back dollars.

May 23rd, 2020 10:28 am

#3

pongster: Deal Addict; Mar 16, 2008; 3023 posts; 2683 upvotes

May 23rd, 2020 10:28 am

Ordered this last week, it's on its way .....i think there are others too, like Metro, etc

May 23rd, 2020 10:33 am

#4

stevepoint: Member; Dec 25, 2018; 206 posts; 263 upvotes

May 23rd, 2020 10:33 am

This is a tough one, optimally you use these points for travel 12,600 points = $126 travel so its either this $100 Costco or $126 travel

+5

May 23rd, 2020 11:10 am

#5

RougeJeff: Deal Addict; Oct 3, 2010; 1343 posts; 811 upvotes; Lac St-Jean

May 23rd, 2020 11:10 am

Well, bye bye New York, hello 300$ costco shopping trip.

+5

May 23rd, 2020 11:13 am

#6

StevenW038982: Jr. Member; Jul 13, 2016; 185 posts; 245 upvotes

May 23rd, 2020 11:13 am

I redeemed 12,000 points for $100 from the Adventura to the CiBC line of credit. Super easy redeeming via the Cibc on line banking.

They said u needed a negative balance so I paid $100 to the cibc adventura then moments later redeemed the 12,000 points instantly a few minutes later to pay off the $100 line of credit.

Better deal than the 12,600 for gift cards.

+3

May 23rd, 2020 11:16 am

#7

docshah: Member; Aug 30, 2018; 282 posts; 99 upvotes

May 23rd, 2020 11:16 am

StevenW038982 wrote: ↑I redeemed 12,000 points for $100 from the Adventura to the CiBC line of credit. Super easy redeeming via the Cibc on line banking.

They said u needed a negative balance so I paid $100 to the cibc adventura then moments later redeemed the 12,000 points instantly a few minutes later to pay off the $100 line of credit.

Better deal than the 12,600 for gift cards.

This is sweet

May 23rd, 2020 11:20 am

#8

shanil8: Newbie; Jun 21, 2015; 25 posts; 3 upvotes; Toronto, ON

May 23rd, 2020 11:20 am

StevenW038982 wrote: ↑ I redeemed 12,000 points for $100 from the Adventura to the CiBC line of credit. Super easy redeeming via the Cibc on line banking.

They said u needed a negative balance so I paid $100 to the cibc adventura then moments later redeemed the 12,000 points instantly a few minutes later to pay off the $100 line of credit.

Better deal than the 12,600 for gift cards.

How does this work? Can you please elaborate? Thank you

May 23rd, 2020 11:29 am

#9

smeean: Jr. Member; Feb 3, 2012; 134 posts; 70 upvotes; WINNIPEG

May 23rd, 2020 11:29 am

If you have a TFSA you can also redeem 12000 points as a deposit of $100 to your account. I just deposited $400 to my TFSA by using 48000 points.

May 23rd, 2020 12:04 pm

#10

StevenW038982: Jr. Member; Jul 13, 2016; 185 posts; 245 upvotes

May 23rd, 2020 12:04 pm

If your cibc online banking profile has your cibc line of credit and your cibc adventura credit card, there is a link to redeem your points in the cibc online banking profile. You cannot redeem through cibc rewards. The redemption link is on the cibc online banking profile. Super easy and instant.

The gift cards are not really worth it if you are not using for travel so I decided to play this game and redeem 12,000 points for $100. It happens in minutes. No need to wait for gift cards in the mail. And no point using the adventura points to redeem directly to the credit card as the points are with even less. So do the TFSA or pay your line of credit route.

+2

May 23rd, 2020 1:17 pm

#11

Suminderji: Jr. Member; May 15, 2011; 104 posts; 65 upvotes; Toronto

May 23rd, 2020 1:17 pm

Just cashed out my points few days ago.

Any way you can straight up purchase with the Visa and get 10% off? I'm due for a Costco trip

Contest Wins 2013: $554.95

May 23rd, 2020 6:26 pm

#12

sckor: Sr. Member; Jul 1, 2006; 635 posts; 432 upvotes

May 23rd, 2020 6:26 pm

StevenW038982 wrote: ↑ The gift cards are not really worth it if you are not using for travel so I decided to play this game and redeem 12,000 points for $100. It happens in minutes. No need to wait for gift cards in the mail. And no point using the adventura points to redeem directly to the credit card as the points are with even less. So do the TFSA or pay your line of credit route.

Is the 12000 points the normal rate, or is this also a limited time offer?

May 23rd, 2020 6:31 pm

#13

StevenW038982: Jr. Member; Jul 13, 2016; 185 posts; 245 upvotes

May 23rd, 2020 6:31 pm

sckor wrote: ↑ Is the 12000 points the normal rate, or is this also a limited time offer?

It’s always the regular rate. So why go for gift cards and use more points? I’d take cash anytime over a credit voucher to some store. I’d rather collect points on my credit card when I go to Costco or other places

Last edited by StevenW038982 on May 23rd, 2020 6:33 pm, edited 1 time in total.

+1

May 23rd, 2020 6:32 pm

#14

helloapple: Newbie; Oct 7, 2016; 49 posts; 26 upvotes

May 23rd, 2020 6:32 pm

I’m cancelling my card soon simply not worth to pay annual fee for the rewards, i’d rather keep the cash and use it wherever I want. I’m going to redeem points before renewal but i will wait 10% not w big difference and cibc stingy with promos
Thanks OP

+1

May 23rd, 2020 7:10 pm

#15

Jon Lai: Deal Expert; May 30, 2005; 44367 posts; 4946 upvotes; Richmond Hill

May 23rd, 2020 7:10 pm

I recommend you guys downgrade to the no-free Aventura instead of cancelling, and reapply at the next promotion. Keep doing this until you have enough points for your destination. Don't waste your points on these crappy rates.

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+1