CIBC TO INTRODUCE NEW LOYALTY CARD
By Adnews Staff
The Canadian Imperial Bank of Commerce and Air Canada have teamed up to make it cheaper for Canadians to go on vacation. The duo will launch the CIBC VacationGOLD VISA card next month. Each time a cardholder makes a purchase with the card, one per cent of the value goes toward the purchase of an Air Canada Vacations package. VacationGOLD also offers triple rewards when cardholders use it to buy an Air Canada Vacations package at any travel agent. Other features of the card include: no minimum or maximum on the amount of reward money that can be earned or redeemed, automatic out-of-province medical insurance for trips up to 15 days and commission-free travellers cheques from any CIBC branch. In addition, cardholders have 24-hour access to cash advances of up to $1,000 daily at automated banking machines and a minimum $5,000 credit limit. To introduce the card, customers can try it free of charge for six months if they apply before Dec. 31. National direct mail and in-branch materials will support the launch of the card. Print and radio ads will initially only be used in the Toronto and Montreal areas, but will roll out nationally next February. The card will also be promoted in Air Canada's travel brochures. The advertising will be created by Padulo Integrated of Toronto.