Expired Hot Deals

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

  • Last Updated:
  • Jun 11th, 2020 9:21 pm
[OP]
Newbie
Jun 28, 2018
31 posts
18 upvotes

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

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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17 replies
Jr. Member
Oct 4, 2019
105 posts
142 upvotes
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.
Deal Addict
Mar 16, 2008
3023 posts
2683 upvotes
Ordered this last week, it's on its way .....i think there are others too, like Metro, etc
Member
Dec 25, 2018
206 posts
263 upvotes
This is a tough one, optimally you use these points for travel 12,600 points = $126 travel so its either this $100 Costco or $126 travel
Deal Addict
Oct 3, 2010
1343 posts
811 upvotes
Lac St-Jean
Well, bye bye New York, hello 300$ costco shopping trip.
Jr. Member
Jul 13, 2016
185 posts
245 upvotes
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.
Member
Aug 30, 2018
282 posts
99 upvotes
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
Newbie
Jun 21, 2015
25 posts
3 upvotes
Toronto, ON
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
Jr. Member
Feb 3, 2012
134 posts
70 upvotes
WINNIPEG
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.
Jr. Member
Jul 13, 2016
185 posts
245 upvotes
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.
Jr. Member
May 15, 2011
104 posts
65 upvotes
Toronto
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
Sr. Member
Jul 1, 2006
635 posts
432 upvotes
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?
Jr. Member
Jul 13, 2016
185 posts
245 upvotes
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.
Newbie
Oct 7, 2016
49 posts
26 upvotes
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
Deal Expert
May 30, 2005
44367 posts
4946 upvotes
Richmond Hill
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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