Redemptions for merchandise are up 72 per cent
since March
TORONTO, Aug. 6, 2020 /CNW/ - With summer underway,
many Canadians would typically be redeeming credit card rewards
points to book vacations, but with travel restrictions still in
place many Canadians are shifting their redemptions to make the
most of staycations without taking a hit to their wallets.
From March to June, redemption of CIBC Aventura rewards points
for merchandise and gift cards increased significantly, according
to CIBC data:
- Merchandise in the Electronics, House & Home Improvement
categories is up 72 per cent
- Gift cards in the Grocery and Retail categories is up 8 per
cent
For Canadians considering how they can redeem their credit card
rewards points beyond travel, there are many ways to apply points
to everyday life. Points can be as good as cash when making
everyday purchases, paying down your credit card balance or even
donating to charity.
"Rewards points may not commonly be viewed as a financial asset,
but they can provide immediate benefit when it comes to everyday
needs," said Jennifer Davidson,
Vice-President, Cards Products, CIBC. "While travel redemption is
down significantly, clients are finding value in the flexibility of
using their Aventura points where it matters most to them in this
environment. It's important to think of your points as any other
asset, which can be used to pay for everyday purchases or pay down
a loan or credit balance."
By visiting the Aventura Rewards site, clients can easily
redeem their Aventura points online to:
- Shop the Rewards catalogue - browse over a thousand
items available for purchase with points, such as houseware,
electronics and clothing items, as well as digital gift cards for
personal use or gifting to others who may be in need.
- Donate to charity – redeem points for a Charitable
Impact voucher to direct points to thousands of registered
Canadian charities, including both local and national
organizations.
- Access items on popular online retailers - just sign on
to your CIBC Rewards account and click the online retailer link on
the shop page
Pay with points:
Through online and mobile banking, clients can apply points to
recent credit card transactions or use points to conveniently and
simply pay down a credit card balance, loan or line of credit.
Recently, CIBC offered Canadians an opportunity to receive
double the points on their CIBC rewards credit cards when spending
at local restaurants through the CIBC Revival
Rewards program.
About CIBC
CIBC is a leading Canadian-based global 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, 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