- Posted on 2022-12-29
Right now there is a special application webpage for these cards, which has very minimal spend requirement for a cardholder to achieve 40,000 points, which can be easily turned into $500 CAD cash.
Promotion period: started from November 1st 2022 and there is no specific end date on CIBC website.
For the two Aventura Cards from CIBC (Visa Infinite and Gold), get up to 40,000 points with first year annual fee waived. 40,000 points can be redeem for $500 using the refundable hotel trick.
Promotion details:
- Earn 20,000 Aventura points after you make your first purchase on this card.
- Earn another 20,000 Aventura points when you spend $1,000 in the first 4 months
- First year no Annual Fee
Main benefit of these cards:
- Get 2 points for every $1 dollar spent on travel purchases at CIBC Rewards centre
- Get 1.5 points for every $1 dollar spent on gas, grocery and drug store purchase
- get 1 point for every $1 dollar spent on other purchases
- 4 complimentary lounge access per membership year provided by Visa Airport Companion Program
- Up to $100 CAD Nexus application fee rebate every 4 years
- Comprehensive travel insurance including
- Travel Medical Insurance
- Flight Delay and Baggage Insurance
- Trip Cancellation/Trip Interruption Insurance
- Auto Rental Collision and Damage Insurance
- $500,000 Common Carrier Travel Accident Insurance
- Purchase Security and Extended Protection Insurance
- Hotel Burglary Insurance
- Mobil Device Insurance
The special application webpage is here:
https://www.cibc.com/en/special-offers/aventura-rewards-inspire-affiliates.html
The detailed process of getting $500 cash back is as follows:
- Spend $1,000 within the first 4 months
- Usually the welcome bonus of 40,000 points will post at the statement day, during which the $1,000 was spent
- Book a refundable hotel priced at least $500 dollars at Expedia, Bookings etc
- When the transaction is still pending on the credit card account, click redeem with points (this step has to be done by 2023-07-16)
- After the redemption transaction is posted, cancel the hotel booking
- Be $500 in the positive!
- To make the promo even better, you can actually apply for both the Visa Infinite card and the Gold card, which get you $1,000 back in cash
