by montyloree » Wed Mar 24, 2010 07:04:15 AM
Monty: Yes, I’m in that area. I’m going through this with you. I find out what happens when I call customer service, I get more of an intuitive answer.
CIBC Visa: No, I appreciate the fact that you’re on the website at the same time. I think that’s a great idea. It has to be your needs, right? You’re shopping for yourself. We’re hoping that we can provide that to you. So it depends on, do you want a card with rewards points? Would you prefer a card with cash back? Would you prefer a card specifically for travel?
Monty: Cash back sounds kind of interesting. For cash back, is the ratio the same dollar value wise compared to rewards or Aero Gold?
CIBC Visa: For every dollar that you spend on an Aero Gold Visa Card you’re getting one Aero Mile. If you do gas, groceries and drug stores purchases, you get 1 ½ mile. For a dividend credit card, you’re looking at the fact that for your first $3,000 spend, you’re getting half percent back. On your next $12,000 you’re getting 1% back. Then if you’re greater than $15,000 through the $35,000 and you’re at 1 ½% back. So there’s different fees, insurances so you have to make it what suits you. So I really can’t put words in your mouth for that.
Monty: I understand. So basically it’s either that. I’m just noticing here, it doesn’t say cash back on here so the dividend card is your cash back card.
CIBC Visa: It is, yes.
Monty: The Visa Infinite, the maximum is $35,000?
CIBC Visa: Right, for the cash back.