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

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  • May 23rd, 2020 9:18 pm
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May 23rd, 2020 9:51 am
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

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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15 replies
May 23rd, 2020 10:13 am
Abhish3k
Newbie
Oct 4, 2019
51 posts
45 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
pongster
Deal Addict
Mar 16, 2008
2893 posts
2419 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
stevepoint
Jr. Member
Dec 25, 2018
103 posts
185 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
RougeJeff
Deal Addict
Oct 3, 2010
1253 posts
751 upvotes
Lac St-Jean

May 23rd, 2020 11:10 am

Well, bye bye New York, hello 300$ costco shopping trip.
+4
May 23rd, 2020 11:13 am
StevenW038982
Newbie
Jul 13, 2016
84 posts
120 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
docshah
Jr. Member
Aug 30, 2018
167 posts
66 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
shanil8
Newbie
Jun 21, 2015
21 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
smeean
Jr. Member
Feb 3, 2012
130 posts
61 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
StevenW038982
Newbie
Jul 13, 2016
84 posts
120 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
Suminderji
Jr. Member
May 15, 2011
103 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
sckor
Sr. Member
Jul 1, 2006
571 posts
366 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
StevenW038982
Newbie
Jul 13, 2016
84 posts
120 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
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

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