Is your credit card’s travel insurance enough? The concept behind cash-back credit cards is easy to understand. CIBC Pace It Installment Plans are only available: (a) on Accounts in good standing; (b) for certain eligible credit cards and eligible transactions. Share on Linkedin Want to save even more on gas? However, sometimes prices and terms of the products are changed by the provider without notice. To learn more about how we do this, go to Manage my advertising preferences. To learn about which coverage(s) are included with a specific card, and important information regarding coverage eligibility requirements, benefits, limitations and exclusions, review the insurance certificate(s) in your card package or visit CIBC Agreements and Insurance. †, 7 There are no transaction fees and you won’t be charged interest, as long as you pay your balance by the payment due date. Cardholders can earn an impressive 4% cash back on groceries, recurring bills and subscription services—a structure that may well suit large families or households. Share on Reddit (&|$)'); Save up to 10 cents per litre at Chevron, Ultramar and Pioneer gas stations when you link your card with, Valuable insurance included with your card, $100,000 Common Carrier Accident Insurance, Purchase Security & Extended Protection Insurance. else { Jan 2018 2 Credit Cards - Terms & Conditions Rewards Terms and Conditions 1. variables can affect how or when you want to collect or redeem. var bottomApplyNow = $('#C1-7882'); 3 Insurance coverage(s) included with CIBC credit cards is underwritten by Royal and Sun Alliance Insurance Company of Canada. } to qualify for the CIBC Smart Account offer. The minimum cash-back redemption amount is $25. For many Canadians, the largest and most regular expenses are gas and groceries. The CIBC Dividend Visa Infinite is on our list for its generous earn rates. } (This offer is not available for residents of Quebec. Credit card account must also be open and in good standing at the time the cash back is redeemed. You can read more about this in our Editorial Code of Conduct. card reduced rebate on gas purchases from 3% to 2% as of last year. Jetstar will collect information about you and any other person named in the booking so that it can issue this Voucher and, when redeeming this Voucher, can process the travel arrangements. Use your cash credits for shopping or as payment for your outstanding balance. I hope Roger’s World Elite puts back their reward to 1.75%. Benefit restrictions vary by FINE HOTELS & RESORTS property and cannot be redeemed for cash, and may not be combined with other offers unless indicated. return ""; way to boost your earnings on a premium card. Shell Oil Products U.S. and its related companies are not sponsors or co-sponsors of this promotion. You’ll earn an industry-leading 2% cash back on all your purchases, regardless of whether it’s gas, groceries, electronics or online purchases. Capitalized terms in this footnote have the meanings set out in the CIBC Cardholder Agreement. '&' : '?') All information is valid at the time of publication and is subject to change without notice. Round Trip Future Travel Vouchers must be booked within 60 days of issuance for travel on any flight dates available in the system. You can find MoneySense’s top editorial picks below.*. Some credit cards offer rewards that can be redeemed as cash back or used to purchase gift cards or merchandise. For them, finding a cash-back card that rewards well on these spends is just good money management. Get 0.125% cash back for every $1 CA spent on a CIBC Global Money Transfer. Bottom line: If you’re invested in earning travel rewards, acquainting yourself with your card’s program may be the best way to go, otherwise you can’t top cash when it comes to simplicity. Get more details about the Scotia Momentum Visa Infinite*. return url + (url.indexOf('? I recently signed up for the Rogers Mastercard cash back which offered 4% back on all foreign currency, 2% back on Rogers products and 1.75% back on everything else. If you live in a federally-declared disaster area, the 1-year waiting period can be waived. Need to meet? return decodeURIComponent(results[1].replace(/\+/g, " ")); Get 0.125% cash back for every $1 spent on a CIBC Global Money Transfer™.†, 7 There are no transaction fees and you won’t be charged interest, as long as you pay your balance by the payment due date.8, Some purchases can’t wait. Using too many credit cards at once is generally frowned upon, as this can be a sign of insolvency. There’s also $1,000 in mobile device insurance and $1,500 per person in trip cancellation protection. Where to buy real estate now: How we found the best deals in Canada, A guide to the best robo-advisors in Canada for 2021, Best high-interest savings accounts in Canada 2021, Compare the Best GIC Rates in Canada 2021, 2% in up to 3 categories of your choice (including groceries, gas & more), 3% on purchases in U.S. currency (0.5% after FX fees), 2% on dining, daily transit, and recurring bills. You’ll earn 1.25 miles on every $1 spent, and those miles can be redeemed for cash back or as reimbursement for travel purchases made with this card—even those made on third-party websites. } There may be times when your preferred payment method cannot be used. 4 Interest rates will change from time to time on at least 30 days prior notice to the primary cardholder. newUrl = replaceUrlParam(newUrl, 'mktgSourceCode', mktgSourceCode); } The full CIBC website is available in English and French. url = url.replace(/\?$/,''); Mashreq will not be liable for any service liabilities for rewards offered. Cash advances bear interest from the date they are taken from your credit card account and are subject to available credit and available cash. way to boost your earnings on a premium card. SPECIAL OFFER: Get $300† and pay no monthly fee for up to 12 months‡ with a CIBC Smart™ Account. Barry Choi and Keph Senett  on February 1, 2021, Whether they’re fee or no fee, these cards will put money back in your pocket, Photo created by pressfoto - www.freepik.com. on gas, transportation, dining and recurring payments. Barry Choi and Keph Senett  on February 1, 2021, By  Share on Email, Your email address will not be published. ®/TM Coca-Cola Ltd., used under licence. The 3% cash back on purchases made in U.S. currency effectively means you earn 0.5% in cash back on purchases once you factor in the 2.5% foreign exchange fee. It’s a huge reduction in value, especially if you spend a lot in non-USD foreign currencies. With this card, you earn 1.5% cash back on all your purchases. standing to be eligible for Gift meaning that for any reasons the credit card should not be suspended, blocked, inactive to be eligible for gifts under this Program 6. eGifts and Cards are not refundable and cannot be redeemed or exchanged for cash, check or credit except where refund or redemption is required by law. Tim Hortons Rewards have faced a lot of ups and downs since its launch in March 2019, but there are still plenty of Canadians trying to make the most of the coffee rewards program. “Purchase” means card purchases less returns and does not include: cash advances, interest, fees, balance transfers, payments, or CIBC Convenience Cheques. While it might seem counterintuitive to pay an annual fee on a cash-back card, be aware that cards with a fee generally deliver better rewards and perks. Get more details about the Tangerine Money-Back Card*. On the other hand, the value of a reward under a rewards The one major caveat (aside from its $80,000 annual income requirement): You must charge at least $15,000 in purchases on the card every 12 months to keep it, otherwise you’ll be downgraded to the entry-level Rogers Platinum Card that earns a less impressive 1% cash back on everything. The Tangerine Money-Back Credit Card lets you earn 2 % cash back in 2 spending categories, or 3 spending categories if you deposit your cash back into a Tangerine Savings Account. Any thoughts on which cards offer it? Learn more about CIBC Payment Protector Insurance for Credit Cards. Function and types. var newUrl = oldUrl; Take the time to compare your options to identify the card that delivers the highest return based on your particular spending habits and lifestyle. To help you pick the right card we’ve put together a list of what the top options have to offer based on different categories. Thank you for the descriptive post. the perk on a cash-back card. No copies or facsimiles will be accepted. The Meridian card also offers a few extra features like mobile device insurance and up to 48 days of travel insurance. Offer cannot be combined with other offers, promotions, discounts, or programs, and may not be redeemed for cash. If no preferred payment method, it’s still your choice. CIBC is not required to credit your account with cash back earned during a monthly statement period if your credit card account is not open and in good standing at any time during a monthly statement period. MoneySense’s goal is to provide the most relevant and up-to-date information as possible but, with all things you read on the internet, it is recommended you read critically and cross-reference with your own sources, especially before making any financial decisions. For example, the TD Cash Back Visa Infinite offers 3% back on gas, groceries and recurring bills, but only 1% on everything else, while the Tangerine Money Back Card has no annual fee and offers 2% back in up to three spending categories of your choice. if(results == null) { Redeemed rewards are not exchangeable for other rewards or refundable, replaceable or transferable for cash or credit under any circumstances, nor can these be re-converted back to EDGE REWARD points. Here we break down both card types to help you decide which card is right for you. Cash in after the mandatory 1-year period unless you’ve been affected by a disaster. } Perks are little extras available to you as a cardholder. All other purchases earn you 0.5% cash back. ‡MoneySense.ca and Ratehub.ca are both owned by parent company Ratehub Inc. We may be partnered with some financial institutions, but this does not influence the “Canada’s Best Credit Card” rankings. Not only does this card earn bonus cash back across five popular spending categories, including gas, groceries, dining, transit and recurring bills, it quadruples the cash back earned on groceries and gas purchases. Get the reliable, everyday use card that earns you cash back on daily essentials for no annual fee. The Bank of Nova Scotia is not responsible for the best available price guarantee. } The payoff with a cash-back credit card is the cash—a reward that is easily cancelled out by the penalties and interest accrued if you carry a balance. Unless a future delivery date is scheduled, on average, Visa eGift cards will be delivered within 24 business hours from the time of purchase. Credit cards are notorious for charging lofty interest rates on credit card balances that are not paid in full each month, and these interest fees typically cost more than the worth of the miles you earned. This includes personalizing CIBC content on our mobile apps, our website and third-party sites and apps. c. Debit debenture suspense a/c. © 2002-2021 Ratehub Inc. All rights reserved, 4% cash back on groceries and gas, 2% on dining, daily transit, and recurring bills, and 1% back on everything else, Earn 10% cash back for first 4 statement periods ( up to $200), Emergency travel medical insurance, t car rental collision and loss damage insurance; mobile device insurance, $60,000 (personal) or $100,000 (household), Adding an authorized user, typically your partner, to your account can be a cost-effective (or even free!) Examples include store discount cards, punch cards that provide a price reduction after a number of purchases, seller’s cash and discounts for opening a store credit card. These are usually things like. MoneySense is not responsible for content on external sites that we may link to in articles, . We are committed to looking at all available products in the market, and where a product ranks in our article or whether or not it's included in the first place is never driven by compensation. Apply now for the CIBC Dividend Visa Card for Students. Get more details about the BMO CashBack Mastercard*. This offer may be revoked if you appear to be manipulating or abusing it, or are engaged in any suspicious or fraudulent activity, as determined by CIBC in its sole discretion. When it comes to travel insurance, you only get travel medical coverage and delayed and lost baggage insurance which is not very comprehensive, however the welcome offer and the TD Auto Club membership are excellent perks in their own right. for a CIBC banking centre or ATM. if ((results[1].indexOf('?')) Enjoy a low introductory rate ... Get the student card that puts cash back in your pocket when you spend on groceries, transportation and other daily essentials. No two cash-back credit cards are identical, so you need to consider the annual fee, earn rate, how much your charge to your card and any additional benefits before you apply. But you can receive a lot more value out of those points by transferring Chase Ultimate Rewards points to airlines or hotel programs. Strategically it would make sense to select drug stores, parking/public transit and restaurants to fill in the gaps on everyday spends without having to pay more for the better earn rate. With travel rewards credit cards, there are sometimes different earn rates and redemption values. Here are a few more that could suit you better. The beauty of this system is that cash-back rewards are flexible and you can spend them on anything you want. Instant Redemption Awards cannot be redeemed for cash or gift cards. Furthermore, our editorial team does its best to ensure the information published on MoneySense.ca and other MoneySense properties is accurate. Your email address will not be published. If these perks are worth more than the annual fee (and if the card fits your spending habits in other ways), you might choose a cash-back card with a fee. These are usually things like airport lounge access, longer and more comprehensive travel insurance coverage, or refunds on certain expenses like a Nexus entry fee. You get a small percentage back on purchases you make with the card, and the reward comes in the form of cash back, meaning money. ‡ CIBC Pace It™ Installment Plans allow primary cardholders to convert posted eligible credit card Transaction(s) to monthly installment payments (including interest on the purchase amount) over a fixed term. With travel rewards credit cards, there are sometimes different earn rates and redemption values. MoneySense is not responsible for content on external sites that we may link to in articles. 9 Cardholders are responsible for the cost of any goods or services purchased, or arranged on their behalf, through this program. Business days are defined as Monday through Friday, excluding holidays. Treat this voucher as cash. If you read something you feel is inaccurate or misleading, we would love to hear from you. "Cash" means cash advances, balance transfers and CIBC Convenience Cheques. When all the debentures are redeemed, balance in the debentures redemption fund account is transferred to : a. 8. MoneySense is fully owned by Ratehub Inc. but remains editorially independent. Do I get the “gasoline” discount for these purchases? After a convoluted journey involving snail mail and multiple emails/calls with reps I find out it’s not possible to quality for the card unless you : As you can see, perks are very often tied directly to travel, so it should come as no surprise that you’re more likely to find them on travel rewards cards than on cash-back cards. General reserve, c. Profits and loss appropriation account. } Opens a new window in your browser, Korean. var mktgSourceCode = getParameterByName("mktgSourceCode"); Fuel coupons have NO cash value and cannot be exchanged for cash; No change will be given back if the item is less than the value of the fuel coupon ; Cannot be redeemed for prescriptions, tobacco or lottery purchases; Coupons must not be printed on plain paper or photocopied; D: Sobeys Direct Mail/AIR MILES Coupons. The concept behind cash-back credit cards is easy to understand. Most gift certificates and gift cards sold by retail sellers for use with the seller and its affiliates cannot contain an expiration date or a service fee, including a fee for dormancy. Voucher cannot be redeemed in parts or redeemed for cash under any circumstances. It cannot be redeemed for cash and cannot be used for any other products including vacation packages, car rentals, bags, and seats. } function replaceUrlParam(url, paramName, paramValue) { bannerApplyNow.attr("href", getNewURL(bannerApplyNow.attr("href"), treatmentID, mktgSourceCode)); We also like that you can redeem for cash back at any time of the year in increments of just $25. You get a small percentage back on purchases you make with the card, and the reward comes in the form of cash back, meaning money. For more information, please read, SimplyCash Preferred Card from American Express, must charge at least $15,000 in purchases on the card every 12 months, SimplyCash Preferred from American Express, Calculating how much money you’ll need at retirement. Please, MoneySense is fully owned by Ratehub Inc. but remains editorially independent.