Important information on upcoming changes to your CIBC Rewards Program Terms & Conditions

We are making changes to your CIBC Aventura Terms & Conditions, CIBC Gold Visa Terms and Conditions and Vacationgold Visa Card Vacationgold Rewards Program Terms and Conditions (collectively, your “Terms & Conditions. A copy of your new Terms & Conditions is available on the rewards website www.cibcrewards.com. We have set out key details of the changes below.

The changes are amendments to your Terms and Conditions and will take effect August 1, 2019. You can continue using your card and earning Points or Vacation Dollars, as applicable, just as you do today.

Payment/ Financial Products with Points (CIBC Aventura Terms & Conditions and CIBC Gold Visa Terms & Conditions)


Current:

Payment with Points

You may redeem your Points towards payment of your outstanding credit card balance if you have a qualifying Card. Redemptions start at 4,000 points for a $25 payment. Other terms and conditions apply. Additional terms and conditions may be specified at the time of redemption on CIBC Online Banking and CIBC Mobile Banking.

Financial Products with Points

You may redeem your Points to make payments or contributions towards select CIBC financial products if you have a qualifying Card and you are otherwise eligible for the selected financial product. Other terms and conditions apply. Additional terms and conditions may be specified at the time of redemption on CIBC Online Banking and CIBC Mobile Banking.

Effective August 1, 2019:

Payment With Points

You may redeem your Points towards payment of your outstanding credit card balance if you have a qualifying Card. Only Primary Cardholders are permitted to perform a “Payment with Points” redemption. Delegates are not eligible. Specific terms and conditions apply to “Payment with Points” and will be specified at the time of redemption on CIBC Online Banking and CIBC Mobile Banking.

Financial Products With Points

You may redeem your Points to make payments or contributions towards select CIBC financial products if you have a qualifying card and you are otherwise eligible for the selected financial product. Only Primary Cardholders are permitted to perform a “Financial Products with Points” redemption. Delegates are not eligible. Specific terms and conditions apply to “Financial Products with Points” and will be specified at the time of redemption on CIBC Online Banking and CIBC Mobile Banking.

Death of Primary Cardholder, Credit Card Account Closure and Program Termination (CIBC Aventura Terms & Conditions)


Current:

In the event of the Primary Cardholder’s death where his or her spouse or common-law or civil union partner is an Authorized User of the same Credit Card Account, and such spouse or partner applies and is approved as the replacement Primary Cardholder, all Aventura Points will remain in the Aventura Account. Otherwise, the Aventura Account will be closed and the Aventura Points in it will be available for redemption by the Primary Cardholder’s estate, in accordance with these Aventura Program Terms, no later than twelve months after the Aventura Account is closed . If the Aventura Points are not redeemed by that date for any reason (including due to a dispute among the legal representative(s), beneficiary(ies) or other claimants), the Aventura Points will be cancelled.

If a Primary Cardholder or Business closes his/her/its Credit Card Account or declines to renew his/her/its Card, all Aventura Points in the Aventura Account must be redeemed within 60 days after the Credit Card Account is closed. If your Credit Card Account is closed because your Card(s) are being converted by the Primary Cardholder/Business or us into another type of CIBC credit card, all Aventura Points must be redeemed within 60 days unless you are otherwise advised by us. Aventura Points that are not redeemed within 60 days will be forfeited without compensation. If we close a Credit Card Account or cancel any Card related to it, all Aventura Points are forfeited immediately (unless we simultaneously open a replacement Credit Card Account and issue a replacement Card).

If the entire Program is to be terminated, we will send 60 days prior notice to the Primary Cardholder or Business, which may be included with or on a Monthly Statement. Any notice will also be notice to any Authorized Users, Cardholders, Rewards Officers and Delegates. Any Aventura Points not redeemed before termination of the Aventura Program will be forfeited without compensation.

Effective August 1, 2019:

In the event of the Primary Cardholder’s death where his or her spouse or common-law or civil union partner is an Authorized User of the same Credit Card Account, and such spouse or partner applies and is approved as the replacement Primary Cardholder, all Aventura Points will remain in the Aventura Account. Otherwise, the Aventura Account will be closed and the Aventura Points in it will be available for redemption by the Primary Cardholder’s estate, in accordance with these Aventura Program Terms, no later than twelve months after the Aventura Account is closed. All Aventura Points must be then redeemed in a single transaction unless otherwise advised by us. If the Aventura Points are not redeemed by that date for any reason (including due to a dispute among the legal representative(s), beneficiary(ies) or other claimants), the Aventura Points will be cancelled.

If a Primary Cardholder or Business closes his/her/its Credit Card Account or declines to renew his/her/its Card, all Aventura Points in the Aventura Account must be redeemed within 60 days after the Credit Card Account is closed. If your Credit Card Account is closed because your Card(s) are being converted by the Primary Cardholder/Business into another type of CIBC credit card, all Aventura Points must be redeemed within 60 days unless you are otherwise advised by us. Aventura Points that are not redeemed within 60 days will be forfeited without compensation.

If CIBC closes a Credit Card Account or cancels any Card related to it because the Credit Card Account is not in Good Standing or for any other reason permitted under the Cardholder Agreement, the associated Aventura Account is automatically closed and all Aventura Points are forfeited immediately.

If the entire Program is to be terminated, we will send 60 days prior notice to the Primary Cardholder or Business, which may be included with or on a Monthly Statement. Any notice will also be notice to any Authorized Users, Cardholders, Rewards Officers and Delegates. The notice will provide details on the redemption and expiry of Aventura Points not redeemed before termination of the Aventura Program.

Death of Primary Cardholder, Credit Card Account Closure and Program Termination (CIBC Gold Visa Terms & Conditions and Vacationgold Visa Card Vacationgold Rewards Program Terms and Conditions)


Current (Gold CIBC Gold Visa Terms & Conditions):

If your Credit Card Account is not in Good Standing, or if your CIBC Cardholder Agreement or Credit Card Account has been terminated or suspended, CIBC may, without notice, permanently cancel all Points in your Gold Account without compensation.

In the event of the Primary Cardholder’s death where a spouse or common law or civil union partner is an Authorized User of the same Credit Card Account and applies and is approved as the replacement Primary Cardholder, all Points will remain in the Gold Account and may be redeemed by the new Primary Cardholder. Otherwise, the Gold Account will be closed and the Points in it will be available for redemption by the Primary Cardholder’s estate, in accordance with these Terms and Conditions, no later than twelve months after the Gold Account is closed. If the Points are not redeemed by that date for any reason (including due to a dispute among the legal representative(s), beneficiary(ies) or other claimants), the Points will be cancelled.

If a Primary Cardholder closes his/her Credit Card Account or declines to renew his/her Card, the associated Gold Account will also be closed and all Points in the Gold Account will be forfeited without compensation unless redeemed within 60 days after the Credit Card Account is closed. If CIBC closes a Credit Card Account, the associated Gold Account is automatically closed and all Points are forfeited immediately (unless we simultaneously open a replacement Credit Card Account and issue a replacement Card). If the Credit Card Account is closed because the Card(s) are being converted by the Primary Cardholder or CIBC into another type of CIBC credit card, all Points in the Gold Account will be forfeited unless the replacement card(s) offers loyalty rewards into which CIBC permits Points to be converted on Card transfers and the Primary Cardholder meets any applicable requirements set by CIBC.

Current (Vacationgold Visa Card Vacationgold Rewards Program Terms and Conditions):

In the event of the Primary Cardholder’s death where his or her spouse or common-law or civil union partner is an Authorized User of the same Credit Card Account, and such spouse or partner applies and is approved as the replacement Primary Cardholder, all Vacation Dollars will remain in the Vacationgold Rebate Account. Otherwise, the Vacationgold Rebate Account will be closed and the Vacation Dollars in it will be available for redemption by the Primary Cardholder’s estate, in accordance with these Terms and Conditions, no later than twelve months after the Vacationgold Rebate Account is closed. If the Vacation Dollars are not redeemed by that date for any reason (including due to a dispute among the legal representative(s), beneficiary(ies) and or other claimants), the Vacation Dollars will be cancelled.

If the Credit Card Account is closed or not renewed for any reason, the Vacationgold Rebate Account shall automatically be terminated and all Vacation Dollars in the Vacationgold Rebate Account will automatically be forfeited without compensation. This paragraph will not apply if we close your Credit Card Account and simultaneously open a replacement Credit Card Account and issue a replacement Card.

If the entire Program is to be terminated, we will send 60 days prior notice to the Primary Cardholder, which may be included with or on a Monthly Statement. Any notice will also be notice to any Authorized Users and Delegates. Any Vacation Dollars not redeemed before termination of the Program will be forfeited without compensation.


Effective August 1, 2019 (Gold CIBC Gold Visa Terms & Conditions and Vacationgold Visa Card Vacationgold Rewards Program Terms and Conditions):

In the event of the Primary Cardholder’s death where his or her spouse or common-law or civil union partner is an Authorized User of the same Credit Card Account, and such spouse or partner applies and is approved as the replacement Primary Cardholder, all Points/Vacation Dollars will remain in the Account. Otherwise, the Account will be closed and the Points/Vacation Dollars in it will be available for redemption by the Primary Cardholder’s estate, in accordance with these Terms and Conditions, no later than twelve months after the Account is closed. All Points/Vacation Dollars must be then redeemed in a single transaction unless otherwise advised by us. If the Points/Vacation Dollars are not redeemed by that date for any reason (including due to a dispute among the legal representative(s), beneficiary(ies) and or other claimants), the Points/Vacation Dollars will be cancelled.

If a Primary Cardholder closes his/her Credit Card Account or declines to renew his/her Card, the associated Account will also be closed and all Points/Vacation Dollars in the Account must be redeemed within 60 days after the Credit Card Account is closed. If the Credit Card Account is closed because the Card(s) are being converted by the Primary Cardholder into another type of CIBC credit card, all Points/Vacation Dollars in the Account must be redeemed within 60 days unless you are otherwise advised by us. Points/Vacation Dollars that are not redeemed within 60 days will be forfeited without compensation.

If CIBC closes a Credit Card Account because the Credit Card Account is not in Good Standing or for any other reason permitted under the Cardholder Agreement, the associated Account is automatically closed and all Points/Vacation Dollars are forfeited immediately.

If the entire Program is to be terminated, we will send 60 days prior notice to the Primary Cardholder, which may be included with or on a Monthly Statement. Any notice will also be notice to any Authorized Users and Delegates. The notice will provide details on the redemption and expiry of Points/Vacation Dollars not redeemed before termination of the Program.

 

Changes to Vacation Dollars Earning Conditions (Vacationgold Visa Card Vacationgold Rewards Program Terms and Conditions)


Current:

If you do not make the minimum payment by the payment due date set out on any Monthly Statement, we may deduct the number of Vacation Dollars earned in that month from your Vacationgold Rebate Account. CIBC does not have to re-credit you these Vacation Dollars if your Credit Card Account is subsequently brought into Good Standing.

Effective August 1, 2019:

We are not required to credit your Vacationgold Rebate Account with the Vacation Dollars earned in respect of net Card purchases during a Monthly Statement period if your Credit Card Account is not open and not in Good Standing at any time during a Monthly Statement period.

Notification of Amendments For Quebec Residents Only (All Terms & Conditions)


Effective August 1, 2019, the following provision will be added:

The following provisions only apply to accounts where the Primary Cardholder is a Quebec resident: We will provide the Primary Cardholder with 60 days’ notice of any change to an essential term of these Terms and Conditions and 30 days’ notice of any other change. The notice will include a comparison of the existing and new terms and the effective date of the change. The Primary Cardholder may refuse any change by cancelling its Account by notice to CIBC within 30 days after the effective date of the change without cost, penalty or cancellation indemnity.

Other Changes to Your Terms and Conditions

We have simplified the Terms & Conditions to avoid repeating content provided to you somewhere else (such as your Benefit Guide, the Website, etc.)

A complete copy of the updated Terms and Conditions is available here.

By continuing to use your credit card account after the changes take effect, you are accepting these changes. Of course, you have the option to cancel your credit card account without cost within 30 days of the changes taking effect by contacting us at 1 800 465-4653 in Canada & the U.S., or from elsewhere collect 514 861-4653. You remain responsible for repaying all amounts outstanding on your credit card account on the date of cancellation. Capitalized terms used in this message have the meanings set out in your Terms & Conditions unless otherwise defined.

We appreciate your business and look forward to continuing to meet your financial needs.