The CIBC Telus Rewards Visa Card is offering a 2x the points promotion of certain category spending, just in time for the holidays.
The highlights of the credit card are as follows:
- No annual fee
- Earn 10,000 sign up bonus points
- Earn 3 points (normally 1.5 point) for every $1 spent on Telus (bill payments, accessories, devices), gas and grocery purchases (for all purchases made between December 1, 2015 and December 31, 2015)
- Earn 2 points (normally 1 point) for every $1 spent on all other purchases
Note that 1 point is worth 1 cent. So that 10,000 points is worth $100, but we have seen a 40,000 sign up bonus points promotion before.
I would not go out of the way to sign up for this credit card just to earn the bonus earning ratios. I would actually wait for another higher than normal sign up bonus first.
This post is more for people who already have this credit card. Unless you have another credit card that earns you more rewards for your spending, I would strongly consider switching over your spending to this credit card until the end of December.
With earning ratios of 3x and 2x the points, you are earning 2% or 3% on all purchases, which is pretty sweet.
Keep in mind that rewards are redeem towards specific Telus products and services, which are listed as follows:
- New device: towards the upfront cost of a new device on a 2-year term, before tax
- Existing device: towards an existing device balance when upgrading on a 2-year term
- Tablet activation: toward the upfront cost of a new tablet, before tax, when entering a 2-year term
- Travel passes: to roam outside of Canada, 30 day passes to the United States, Caribbean passes, etc.
- TELUS Prepaid card: for accessories and wearables at participating Telus stores
- Charitable donation: to Free The Children, Juvenile Diabetes Research Foundation Nature Conservancy of Canada, Heart & Stroke Foundation