A little more than a year ago, TELUS and the Canadian Imperial Bank of Commerce (CIBC) paired up and offered a mobile payment service and application, for certain devices with Near Field Communications (NFC). All you needed was to have a CIBC branded credit card and the CIBC app on your smartphone. Certain restrictions, such as purchases could not be over $50 - it is up to $100 now - it is available at over 250,000 merchants that support MasterCard PayPass or Visa PayWave. Rogers came out with a similar system with their Suretap and their Pre-Paid MasterCard.
Quick forward a year and now TELUS and CIBC are teaming up to offer you a TELUS Rewards Visa credit card. There is no fee to sign up for the card and no annual fee attached. Every time you use the card you rack up TELUS Rewards points for everyday purchases - once the points accumulate, you can use them towards select TELUS products and services. TELUS will even let you use them toward the upfront cost of a new device or to pay down your existing device balance to get a faster upgrade on a new two-year term. You can use them toward the upfront coast of a new table on a two-year term on an Easy Tablet. TELUS will allow you to redeem them for certain travel passes, such as a US 30-day pass, Caribbean passes and more.
Earning TELUS Reward points is easy - you get one point for every $1 you spend using your credit card. You will earn 1.5 TELUS Rewards for every $1 you spend at the gas station or at the grocery store. You will also earn 1.5 points for every $1 you spend on a TELUS purchases - includes bill payments, accessories and devices. There are specific spending limits for purchases or cash limits. CIBC CreditSmart credit management tools are included to help you manage your credit card spending - spend alerts, fraud alerts and identify theft assistance is all included. Use the CIBC Mobile Banking app on your smartphone and view electronic statements, make payments, transfer funds, increase credit limits, and more with CBIC Online Banking. Using the Visa PayWave lets you purchase merchandise with your smartphone with a $100 pre-set limit for your protection.