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[CIBC] Targeted? CIBC Dividend VISA - $25 cash back for setting up automatic bill payments

  • Last Updated:
  • Oct 4th, 2019 10:23 am
[OP]
Jr. Member
Oct 28, 2015
193 posts
100 upvotes
Ottawa, ON

[CIBC] Targeted? CIBC Dividend VISA - $25 cash back for setting up automatic bill payments

Just got an email from CIBC:

Get up to $25 bonus cash back for setting up convenient automatic bill payments.

Wouldn’t it be nice to get cash back just for having your bills paid automatically? For a limited time, you can earn $5 bonus cash back for each Pre-Authorized Payment¹ you set up with your CIBC Dividend® Visa* Card, up to a maximum of $25, plus ongoing cash back for every dollar you spend on these bills. And with cash back on monthly cell phone bills and memberships, it can add up really fast.

1 Automatic payments are payments that are set up and billed automatically by the merchant to your credit card account on a monthly or regular basis. If a payment is not set up by the merchant as a recurring automatic payment, then the payment will not be recognized and will not qualify.

2 The opportunity to earn up to $25 Dividend dollars offer is available only to primary cardholders who are solicited for and who qualify for this offer. The primary cardholder has to assign Pre authorized payments to their Dividend card between July 16, 2019 till 11:59:59 p.m. ET on September 10, 2019. This offer is only available to the primary cardholder and is limited to one per eligible card. Authorized cardholders are not eligible. The $25 Dividend dollars will appear on your statement no later than the month after it is earned. Cash back is awarded at the end of the year as a credit on your December statement. Offer is non-transferable. Eligible card account must be open (which excludes accounts closed for fraud) and in good standing at the time the offer is provided. This offer is not transferable and cannot be combined with any other offer. This offer may be withdrawn or changed without prior notice at any time. CIBC may, in its sole discretion, disqualify, limit or revoke this offer if you are believed to be abusing or manipulating it, or engaging in any suspicious or fraudulent activity.

3 Cash back is earned on a tiered basis on card purchases less returns and not on cash advances, interest, fees, balance transfers, payments or CIBC Convenience Cheques. Cash back is calculated as follows: on the first $6,000 in net annual card purchases excluding grocery on your account, the cash back earned is 0.5%; on amounts greater than $6,000 in net annual purchases excluding grocery the cash back earned is 1%. Earn 2% cash back on purchases (less returns) at merchants classified by the credit card network as grocery stores. All other purchases earn cash back at the regular tiered rate. The 2% cash back offer is only available on the first $6,000 in net annual card purchases at grocery merchants on your account; after that, net card purchases at grocery merchants will earn cash back at 1%. The $6,000 limit will reset to zero after the day your December statement is printed. Terms, conditions and eligible merchant categories may change without notice. Deductions of cash back for returns are made at the earn rate applicable at the time the return occurs. Credits for returns made on your account may result in a deduction of cash back at a higher earn rate, even though the return may relate to a purchase that earned cash back at a lower rate.

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 or, in limited circumstances, at such other time as may be permitted by CIBC. Credit card account must be open and in good standing at the time the cash back is awarded. Cash back will be credited to the primary cardholder’s account.
Last edited by tourmaline on Jul 18th, 2019 12:13 am, edited 1 time in total.
2 replies
Sr. Member
Jul 27, 2010
989 posts
706 upvotes
Victoria, BC
Sounds like you answered your own question whether this offer is, uh, "targed":
tourmaline wrote:
2 The opportunity to earn up to $25 Dividend dollars offer is available only to primary cardholders who are solicited for and who qualify for this offer.
My question is, if you sign up for something like Netflix, does it have to actually make the payment before the end dates:
The primary cardholder has to assign Pre authorized payments to their Dividend card between July 16, 2019 till 11:59:59 p.m. ET on September 10, 2019.
Or do they mean that the payment has to be set up before Sept 10? I know Netflix and probably most/all recurring payments do a small pre authorization charge to make sure the card is legit. So I'm wondering if that's enough or if the actual charge has to be done to count. The way it sounds, with their use of the word "assign" sounds like it just has to be set up to be charged at a later date.

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