Canadians can buy a coffee with a credit card almost as easily as with cash these days – why not make one specifically to do just that?
Tim Hortons Inc. just has. The country’s largest coffee chain will introduce this week a new loyalty program wrapped inside a Visa credit card.
Partnering with Canadian Imperial Bank of Commerce, or CIBC, Tims will start offering “Tim Cash” rewards to customers who make purchases with the new CIBC-issued credit card.
The “cash” can be applied to get coffee, doughnuts and other Tims menu items.
Cardholders will earn one per cent in Tim Cash on all purchases made on the card. Promotional material seen by Global News used the example of a trip to the grocery store earning enough to receive a coffee on the way home.
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The card will store the rewards points and can be used to redeem items at the coffee chain.
Purchases aren’t restricted to Tim Hortons locations, of course, but Tims and CIBC say the card offers “first-of-its-kind technology” that lets users access their credit or reward points when using the card to make a purchase at one of Tim Hortons’ 3,600 locations.
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Tims and CIBC first made the announcement in February, but the wraps are now ready to come off the new loyalty program.
The card, which will be formally unveiled on Wednesday, is being called the CIBC Tim Hortons Double Double Visa Card, naturally.
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