CIBC is offering a 30,000 sign up bonus Petro-Points promotion on its CIBC Petro-Points MasterCard, which is doubled the regular 15,000 sign up bonus points. Below are the highlights of the credit card.
- No annual fee
- Earn 30,000 sign up bonus points after the first purchase (if you sign up before August 31, 2015)
- Earn 5,000 bonus points for every $1,000 spent per month
- Earn 15 points for every $1 spent at Petro-Canada, grocery stores and drug stores
- Earn 10 points for every $1 spent on all other purchases
- Save 2 cents per litre of gas at Petro-Canada
If you fill up at Petro-Canada and enjoy earning Petro-Canada points, then I would definitely have this credit card in my wallet.
I value 1 point at 0.09 cents a piece, so 15 points per $1 spent comes out to 1.35% return. There are definitely better options out there to get better than 2% return on gas purchases, but just in case you do not have those options, the no annual fee makes this a no-brainer back up credit card.