CIBC released new welcome bonus offers on several of their Aventura and Dividend Cards today. The base welcome bonus on the CIBC Aventura Visa Infinite and Gold cards has been bumped up to 20,000 Aventura Points. Those 20,000 points are awarded on your first purchase and then you can earn 1,250 bonus points per month in each month that you spend at least $1,000 on the card. This spend bonus equates to 15,000 points, add this to the 20,000 points and you have 35,000 points after your first year. They are also offering a rebate on the first year annual fee. This reminds of the 35K offer on this card from February of last year albeit this one is better as you don't have to wait until your card anniversary to get the additional 15,000 points since you'll be getting them in 1,250 points increments over the year.
You do have to note that CIBC has bumped up the annual fees on both of the Aventura Infinite and Gold cards to $139 per year as of today and this comes without adding any extra benefits or enhancements to the earning and redeeming options on the card. So it is nice to have a first year annual fee rebate in place as that helps soften the blow of this annual fee change. Annual interest rate for both cards are 19.99%† on purchases and 22.99%† on cash advances and 22.99% † on balance transfers
The Dividend Infinite and Platinum Cards see the return of their 10% cash back on all spending up to $2,000 in the first four months of having the card along with a rebate on the first year annual fee. Remember as well today marks the change in earning and redeeming for the Dividend Cards. No longer do you have to wait for your cash back, you can redeem it anytime your balance hits $25. The Dividend Infinite sees a boost in earning for its 2% category but also comes with an increased annual fee of $120 instead of $99 (Which you don't have to pay in the first year with this current offer). They have also added mobile device insurance to the Infinite Card.
Recommended reading: Changes coming to CIBC's cash back Dividend cards on February 1, 2021
The Dividend Platinum card sees its 4% on cash back and grocery being cut to 3% but it does gain 2% on all transportation, dining purchases and recurring payments - compare this to the current 2% on Tim Hortons and TELUS purchases. The rest of the purchases on this card remain at 1%.
Learn more about these welcome bonus offers on the Rewards Canada CIBC page.
Images via CIBC
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