A little over a year ago the More Rewards program had their only banking relationship come to an end. That's saw the end of the More Rewards Visa that was issued by Scotia which was unfortunate as it was the number one no fee travel points credit card at the time. Since that time More Rewards hasn't had any partnerships with a financial institution until today.
An announcement came across the wire today that CIBC and More Rewards have now partnered up so that CIBC credit card and debit card holders can earn extra More Rewards points when shopping at Save-On-Foods, Urban Fare and PriceSmart Foods. The promotion is interesting in that if you have a CIBC credit or debit card and are a More Rewards member you don't have to do anything. You will automatically start earning 2x More Rewards points per dollar spent at any of those three grocery stores as long as you pay for the purchase with a CIBC issued card and give your More Rewards number.
Here are some more details from today's press release:
In addition to doubling the More Rewards points earned at the checkout or online, from November 26th, 2020 to February 28th, 2021, customers are automatically entered to win** one of four prizes of FREE Groceries for a Year when they use their More Rewards and CIBC credit or debit cards at one of the three participating grocers.
“We are thrilled to launch this exciting new partnership with CIBC which allows our customers to earn double the More Rewards points on their purchases with no requirement to link cards or register,” said Dan Howe, President, More Rewards. “We are committed to providing excellent value to our customers, and this partnership is a new, innovative, and simple way of doing just that.”
As one of Western Canada’s favourite loyalty programs, More Rewards has over 3.5 million members. Their extensive customer data will provide greater opportunities to offer significantly more personalized promotions to customers.
This new partnership provides CIBC with high marketing value through a unique 360-degree omni channel ecosystem which includes More Rewards digital platforms, Save-On-Foods store and digital assets, as well as Jim Pattison media assets. More Rewards is in the midst of a large digital transformation, and the new CIBC partnership will improve our capability to focus on high opportunity customers. With a new app in development serving up personalized offers, CIBC will be cross promoted with all of the More Rewards partners.
“The new partnership between CIBC and More Rewards is an exciting one as we see our shared values align to offer our customers increased value for their hard-earned money,” said Diane Ferri, Senior Vice-President of Card Products, CIBC. “By teaming up with More Rewards we are proud to offer Western Canadian families a new opportunity to enhance their grocery shopping experience.”
The double More Rewards points will be awarded over and above any points earned on the CIBC cards. So for example if you go spend $100 at Save-On Foods you'll earn 200 More Rewards Points (100 base + 100 bonus for using a CIBC card) and then 150 Aventura or Aeroplan points if you use a CIBC Infinite or Infinite Privilege card or 100 Aventura or Aeroplan points for the entry level cards.
Now part of me is thinking this may a test as well to see how well it is received and could very well lead to a new More Rewards credit card being launched with CIBC of course.
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