With American Express burying itself with all sign up bonus changes, I am glad to see that there are other financial institutions that are stepping up, like CIBC. They are once again offering its first year fee waived promotion with its CIBC Aerogold Visa Infinite Card. It has been a while since we last saw this promotion (March 31, 2014). So I am glad to see this offer up and running again, because it shows that CIBC is ready to compete for business!
Below are the highlights of the credit card:
- $120 annual fee (first year fee waived if you apply between November 1, 2015 and December 30, 2015)
- $50 for supplementary cardholders (first year fee waived, up to a maximum of 3)
- Earn 15,000 sign up bonus miles after the first purchase
- Earn 3 miles for every $1 spent at participating CIBC Bonus Rewards restaurants, hotels, inns and spas
- Earn 1.5 mile for every $1 spent at gas stations, grocery stores, drug stores and at aircanada.com (excluding Air Canada Vacation packages)
- Earn 1 mile for every $1 spent on all other purchases
- Receive 1 Maple Leaf Lounge One-Time Guest Pass each year when traveling on an Aeroplan flight reward
- Priority check-in and priority boarding
- Complimentary 1st checked bag on Air Canada flights
As soon as I saw this promotion, I’ve already signed up for this card, pending approval. The first year fee waived is just an easy no-brainer. The Aeroplan miles are awarded after your first purchase, so it is an easy way to rack up your miles.
The earning ratios are decent. The 1.5 mile per $1 spent at grocery stores, service stations/automated gas dispensers, drug stores and at aircanada.com (excluding Air Canada Vacation packages) is available for the first $80,000 in spending in a calendar year. Thereafter you will only earn 1 mile per $1 spent.
Keep in mind that Aeroplan points need to be active once every 12 months or else they will expire. So having a credit card associated with your account makes it very easy to keep your account active.
The One-Time guest pass to access a Maple Leaf Lounge and the complimentary check bag can only be used on an award flight, as well as flights operated by Air Canada, Air Canada Express or Air Canada Rouge only.