New benefits include more rewards for subscription services, on demand rewards redemption and instant digital card replacement for lost or stolen cards

TORONTO, Feb. 2, 2021 /CNW/ - Today CIBC introduces a package of exceptional product features and benefits to CIBC Dividend^® credit cards, that help cardholders earn more cash back for their spending. Additionally, CIBC Dividend Visa cards now have the broadest range of bonus earning categories compared to other cards in market.

With cash back rewards becoming increasingly popular in Canada,¹ CIBC Dividend cards have been refreshed so cardholders can now earn cash back across more everyday categories than ever before: grocery, gas, dining, transportation and recurring payments such as monthly streaming subscriptions. For CIBC Dividend cards, there's no limit to the cash back that can be earned.

"The cash back category continues to be the fastest growing credit card category in Canada," said Diane Ferri, Senior Vice President, Cards, at CIBC. "We've enhanced our Dividend credit card features to help make every purchase count, with rewards on everyday spending and more flexibility with reward redemption, to truly reflect and deliver on what our clients want and value."

CIBC Dividend card holders can also access a new On Demand Redemption feature, meaning their cash back rewards can be redeemed at any time during the year once a minimum cash back balance of $25 has been earned. Clients can redeem cash back as often as they wish through CIBC Online Banking and CIBC Mobile Banking.

Another enhancement now available to most CIBC personal and business credit cards is instant digital card replacement.² In the event their credit card is lost or stolen, clients can report it through the CIBC Mobile banking app, and now get immediate access to their replacement card, which can be used with Apple Pay or Google Pay. With no need to call the client contact centre, and no wait time, it's another way CIBC is offering convenient digital solutions to support clients, and provide greater ease and peace of mind when it comes to their credit cards.

For more information on the recent enhancements to the CIBC Dividend credit card portfolio and On Demand Redemption, please visit www.cibc.com/dividendcashback, while further information on virtual card replacement can be found at: https://www.cibc.com/en/personal-banking/credit-cards/manage.html.

About CIBC

CIBC is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network, and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at www.cibc.com/en/about-cibc/media-centre.html.

SOURCE CIBC

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