Here's your Rewards Canada Daily update! Your daily dose (or near daily dose) of loyalty program, credit card and travel news, bonuses, deals and more. This update is brought to you by the HSBC +Rewards Mastercard which is currently offering a welcome bonus of up to 30,000 bonus points, no annual fee in the first year and a low 11.9% interest rate!
The Koho Premium Prepaid Visa is one of only a select few prepaid credit cards that offers rewards for your everyday spending on the card. This card is virtually open to anyone since there are no credit checks necessary as you have to fund it prior to using it. Technically what you are opening a savings account with Koho that comes with a reloadable prepaid Visa card. They also offer non-premium version called the Koho Reloadable Prepaid Visa.
At the start of this month CIBC brought back their excellent limited time welcome bonus offer for their premium cash back card the CIBC Dividend® Visa Infinite* Card. That offer is 10% cash back on all purchases up to $2,000 made during the first four monthly statement periods. The offer doesn’t end there however as new cardholders will also get their first year annual fee rebated which means you can try this card out at no cost to you other than your actual credit card spending. The other good news coming on February 1st was the launch of the card changes we announced back in October. The biggest drawback the card had, if you would consider it a drawback was only being able to cash out your rewards once per year. Well that's gone and now you can cash out anytime when your rewards balance hits $25 or more. On top of that there are some earning and annual fee changes to the card as well that are detailed below.
Here is a rarity – Turkish Airlines is offering a bonus for buying their Miles&Smiles miles until February 19. The bonus is tiered and maxes out at 75% when you buy 50,000 to 99,999 miles. The cost of the miles are US$30 per 1,000 which means buying 50,000 miles will cost you US$1,500 but you’ll end up with 87,500 miles after the bonus. That ends up being US$ 1.71 cents per mile which is a great deal considering Turkish Miles&Smiles has some real gems for reward flight options. It only costs 10,000 miles to fly one way in economy class within North America but Turkish includes Honolulu, Mexico and Bermuda. So yes you can get a round trip economy class Star Alliance ticket on Air Canada or United from Canada to Hawaii for 20,000 miles. Even better is business class for only30,000 miles round trip! So if buy yourself 52,000 miles for US$1,560 to score 91,000 Miles&Smiles you’ll have three round trip flights in business class to Hawaii! To buy those three business class tickets will cost you a lot more than US$1,560. Four tickets would be US$2,070! And that’s only one example – the Miles&Smiles program has quite a few other great redemption options that you can check out here. The only major caveat we can see is the bonus miles on the purchased miles must be used by December 31, 2022.
