CIBC picks up Costco credit card business | Page 6 | Credit card reward programs | Discussion forum

Has anyone been able to confirm if they receive 2% cashback for Costco membership renewals online?

Not my department but spouse tells me you get a voucher that you can take to Costco and get cash for it.

It won't be a Costco gift card. That's consistent with the card benefits guide which says the cash back gift certificate can only be used once:

Using your cash back gift certificate

View and print your annual cash back gift certificate through CIBC Online Banking® and CIBC Mobile Banking® App, or show it on your mobile app to redeem at any Canadian Costco Warehouse. If you receive paper statements, you also have the option to present the gift certificate that was sent with your January statement.

The cash back gift certificate can only be redeemed once and only by the Primary Cardholder.

If the cash back gift certificate is $1,000 and the purchase is only $500, then one will get the $500 back in cash from the cashier. If one didn't want that much cash, perhaps one could take a Costco gift card off the shelf and ask cashier to load $500 on the gift card.

Bill said
Spouse says she takes certificate that comes in mail in January to Costco store service desk and she cashes it in, they give her cash for the full amount. It's not complicated.

(Then she either leaves or, more likely, she goes into the store and racks up more purchases on her card.)  

Thanks Bill. Currently I have a Rogers Cash Back. I have done quite well with it over the years. I use it for almost everything. Use Amex for gas and groceries….higher % than Rogers. And Home Trust Visa for time share and avoid the 2% foreign exchange fee.

But since I was approached at the door a couple of days ago for Rogers TV and internet I decided to dig in and research what they were actually offering. Person at door was ok but wanted to be in command of the conversation. So next time I’ll be ready. And while I was checking the Internet and T.V. I hit some dirt on Roger’s MC. I now see why some people totally detest Roger’s. But on the CC they have done me no wrong. And what I like about Rogers….I can cash in whenever I want. And as many times as I want. Usually every 6 months or so. I use it to subsidize my gasoline purchases by 50% along with the federal environmental tax credit that is no more.

And I swore that I would never get an “in house” Costco credit card again. Because they change too much, in my opinion only. But I do think I could make it work, with the annual payment, as I think I can get more cash back $.

I cancelled my very useless BMO cash back a couple of years ago.

I just wonder if I should do the Costco one and keep the Rogers one just to pay one bill every month.

A bit more research to do.

Thanks Bill and Bill’s wife!

@ savemoresaveoften

See post 5.