Telus and CIBC launch Visa rewards credit card, offers points for products and services

CIBC today announced that it is partnering with Telus to launch the Telus Rewards Visa card. According to the company’s press release, there is no fee to sign up for this card, and users earn various levels of points that can be redeemed for Telus products, including smartphones, tablets, roaming travel passes, prepaid cards and accessories. Telus says it will also allow card holders to donate their points a charity of their choice.

The breakdown of points earned is as follows:

– Earn one point for every dollar spent using the rewards card
– Earn 1.5 points on all rewards card purchases at grocery and gas retailers
– Earn 1.5 points on Telus purchases made on the rewards card – paying their monthly bill, purchasing accessories or mobile devices, etc.
– Earn additional points by signing up for pre-authorized payments and e-bill, or adding services to their account including Optik TV or adding additional subscribers

Rogers has a similar offering with its Rogers First Rewards MasterCard. The carrier offers free movies, discounted data plans, and also discounts off your next 2-year contract upgrade.

Telus is also allowing its subscribers to access their credit card on a mobile device. CIBC notes that this is only available to those with a Visa payWave-enabled credit card (which Telus’s is) and an eligible registered smartphone through the CIBC Mobile Payment App. Similar to other such cards, such as Rogers’ branded MasterCard, mobile purchases are limited to $100 transactions.

[source] CIBC [/source]