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

  • Last Updated:
  • Jun 6th, 2020 1:00 pm
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Sr. Member
Apr 23, 2017
922 posts
1500 upvotes
Anyone hear anything yet re: what new partnership PetroCanada will forge with some other issuer?
Newbie
Jun 25, 2017
3 posts
1 upvote
I've been enjoying the 4% on EVERYTHING since I activated my new card (not just 4% on gas and groceries which is what you get if you keep using the PP MasterCard). Also with the PP I'm earning at Petro-Canada with my purchases those equal another 1% so 5% back! Also Petro-Canada just sent me a preferred price card (for loyalty) that gives me 2c per litre up to 150litres per month for June-Sept. I suppose this is to encourage me to stay with them until later in the summer when they announce the new credit card deal. I will keep enjoying the 4% on everything and 5% + 2c/litre at petro can! Once spent $5,000 then will be 4/4/2/1 and the 2c/ litre till September!
Sr. Member
User avatar
Aug 9, 2005
783 posts
279 upvotes
CueT132821 wrote: Also Petro-Canada just sent me a preferred price card (for loyalty) that gives me 2c per litre up to 150litres per month for June-Sept. I suppose this is to encourage me to stay with them until later in the summer when they announce the new credit card deal.
Just got this today as well. They sent the Preferred Price card as well as a backup PetroPoints card too.

So basically the Price card gets topped off at 150L with no carry-over from the previous month, right? It's like getting the CC discount while still using the Plat Visa; no complaints here!

I wonder if those 150 litres we get in September will carry over, or if they will expire come October?
I don't downvote. Why? Karma.
Jr. Member
Nov 17, 2016
125 posts
77 upvotes
I am wondering if the 2c/L from the Preferred Price Card will stack with the 2c/L discount for still using the Petro Points MasterCard for those of us who haven't switched over yet.

2c/L + 2c/L + 150% Petro Points + 4% cash back would be really nice deal, too bad I filled up today before getting the mail!
And even better if it stacks with the 10c/L off cards you can buy with Petro Points!

Any one tested it out yet?
Newbie
Jun 25, 2017
3 posts
1 upvote
Yes. There is no carry over month to month so my understanding is you will get the 150litres in September and nothing in October. By then I'm assuming they will have their new credit card out. I doubt their new card will beat the 4% cash back that the platinum dividend offers. When considering no annual fee I'm pretty sure the dividend platinum is the best cash back card period.
Member
Feb 21, 2009
371 posts
415 upvotes
PatrickRedFlagDeals wrote: There is a 2.5% fee on foreign transactions with the Dividend Visa card as well.
What I mean is if you do a foreign currency transaction 2.5% fee is NOT being charged.
Member
Mar 4, 2016
353 posts
217 upvotes
I received the preferred price card too. I already have a 5 cent fuel savings card that I use...am I able to combine them?
Deal Addict
Feb 10, 2013
4089 posts
713 upvotes
Richmond
jasmeet|_9sb wrote: What I mean is if you do a foreign currency transaction 2.5% fee is NOT being charged.
Yes it is silly. it's baked in
Newbie
Jun 25, 2017
3 posts
1 upvote
I don't believe you can combine them. I thought I would just save my fuel savings card till after September when I've used up all the "free" 2c/litre litres we get. It's a lower savings but you didn't have to spend any of your petropoints on it and the fuel savings card will still be there in September and will last longer this way.
Deal Addict
User avatar
Apr 24, 2017
4799 posts
3192 upvotes
jasmeet|_9sb wrote: What I mean is if you do a foreign currency transaction 2.5% fee is NOT being charged.
There are only 3 cards in Canada not charging fx fee:
- Chase Amazon Visa
- Chase Marriot Visa
- HomeTrust Preferred Visa

2.5% fx fee is baked in your CIBC Platinum Visa.
Amex Platinum ⭐️ Scotia Momentum Visa Infinite ⭐️ HSBC World Elite MC
Sr. Member
User avatar
Aug 9, 2005
783 posts
279 upvotes
So interestingly I got a letter from RBC telling me that their Esso Visa card is being discontinued at the End of August.
I had my fingers Crossed they might offer their plat card as well, but their letter just says the card won't be active after Aug and no mention of a replacement (even a crappy one) offer.

Timing seems too perfect to be a coincidence. Seems like a good guess where Petro is moving to.
I don't downvote. Why? Karma.
Member
Feb 21, 2009
371 posts
415 upvotes
bluebellrose wrote: Yes it is silly. it's baked in
EdisonL299 wrote: There are only 3 cards in Canada not charging fx fee:
- Chase Amazon Visa
- Chase Marriot Visa
- HomeTrust Preferred Visa

2.5% fx fee is baked in your CIBC Platinum Visa.
I did a USD transaction on Petro Points Mastercard and the amount posted to my account matches exactly with what I calculated on https://www.mastercard.us/en-us/consume ... rency.html with 0% Bank Fee. 2.5% is somehow not being charged. It will likely last until one activates the replacement card.
Sr. Member
Apr 25, 2005
858 posts
232 upvotes
Yes, just confirmed, all my purchases in Europe last week had the 2.5% transaction fee baked into the exchange rate!
jasmeet|_9sb wrote: What I mean is if you do a foreign currency transaction 2.5% fee is NOT being charged.
bluebellrose wrote: Yes it is silly. it's baked in
EdisonL299 wrote: There are only 3 cards in Canada not charging fx fee:
- Chase Amazon Visa
- Chase Marriot Visa
- HomeTrust Preferred Visa

2.5% fx fee is baked in your CIBC Platinum Visa.
Deal Addict
Feb 10, 2013
4089 posts
713 upvotes
Richmond
dokechi wrote: So interestingly I got a letter from RBC telling me that their Esso Visa card is being discontinued at the End of August.
I had my fingers Crossed they might offer their plat card as well, but their letter just says the card won't be active after Aug and no mention of a replacement (even a crappy one) offer.

Timing seems too perfect to be a coincidence. Seems like a good guess where Petro is moving to.
could be why cibc is doing this. To keep as many people from rbc as possible.Lets face it. How many people will switch over when you have the cibc dividend platinum that doesn't tie you down to one specific gas station for free?
Member
Mar 4, 2016
353 posts
217 upvotes
So those of us with the visa dividend card now that are getting 4% cashback on gas...that's permanent right? Not one of those until Aug 31st type things?

I got the 4% gas, 2% groceries 0.5% everything else version of this card. And looking at CIBC's website I don't see their dividend card mentioning 4% on gas at all. That' just a perk for those who had their card converted?

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